The mere idea of filing bankruptcy can make anyone anxious. However, in certain situations it can be the most beneficial option for your personal financial needs. Although it remains an negative mark on your credit file for a period of up to 10 years, bankruptcy can help ease the burden of huge amount of debt. There are three...
Depending on the circumstances, filing for bankruptcy might be the best solution to resolve your financial issues. Chapter 7 and Chapter 13 bankruptcies both come with significant consequences. But, they won’t hinder your ability to obtain credit for the rest of your life. These types of items stay on your credit report for a period of...
Who is eligible to file for Chapter 13 bankruptcy? Chapter 13 bankruptcy is reserved for couples and individuals rather than partnerships and corporations. It’s the 13th Chapter of the U.S. Bankruptcy Code (11 U.S. Code Title 11) which is why it’s the title Chapter 13 bankruptcy. You’re probably eligible, provided you’ve had credit counseling and a...
What is Chapter 7 bankruptcy? The filing of a Chapter 7 bankruptcy releases or “discharges” individual debtors from being required to pay off certain outstanding debts and allows them to keep their exempt assets so that they can continue living their lives. The rules for eligibility are strict and only certain debts are eligible to...
Collectors of debt are well-known for the way they conduct business. They’re more concerned about getting paid than the method they use to collect the debt. As long as they are able to pay the debt they don’t care about consumers’ rights, or even if they’re actually harassing the correct person. It is the responsibility of the...
Debt collectors must show they have the legal right to take a debt from you. The process of requesting debt validation has many advantages. It can result in having the collection account completely deleted from your credit history. Learn everything you must learn regarding debt validation, so that you can start today. What exactly is Debt...
The Fair Debt Collection Practices Act (FDCPA) is an unconstitutional law that was adopted in 1978 to safeguard consumers and regulate the methods employed by debt collectors. If you’ve experienced debt collectors pestering you about the amount owed it is essential to know your rights according to the FDCPA. The FDCPA is the law you will use to...
The process of dealing with collection companies can be stressful and intimidating experience. Knowing your rights and how to handle debt collectors is essential to safeguard your financial situation. In this article, we’ll guide you through how to deal with collection agencies. We will educating you of your rights under the Fair Debt Collection Practices...
No matter if you’re dealing with credit card debt or student loans, car loans debt, or any of them, having debt is not a stroll in the park. Although it may seem easy to be in debt but getting out is a lot more difficult. Interest that compounded on top of your principal could make...
It’s easy to feel as if you’re not a choice when you’re drowning in debt from credit cards, but that’s not the situation. Debt settlement is an option that allows you to negotiate a lower amount of debt to your lenders. Instead of paying the entire amount due, creditors can agree to reduce the amount...
