What to Expect When Your Debt Goes to Collection
The thought of debt collectors repeatedly calling your house or trying to track you down at your job, can be frightening for anyone. But many times, it is the fear of the unknown that makes people so nervous about debt collection. It helps to understand what to expect and what rights you have as a consumer when it comes to dealing with debt collectors.
Bankruptcy & Divorce: How the Two Are Connected
Differences in spending habits and money disagreements are one of the top reasons people file for divorce. And for many people, divorce is one of the main reasons they end up filing for bankruptcy, oftentimes due to the additional expenses such as child support, alimony and now having to maintain a household on a single income. While both predicaments can be emotionally, and financially challenging, proper planning can help make the process less complicated and more cost effective.
How Long Can a Debt Collector Pursue an Old Debt?
When it comes to debt, how old is too old to file a collection lawsuit? Not all debts must be paid, especially those that are past a certain age. It is important to understand your rights as a consumer when it comes to old and expired debt.
Bankruptcy Booms Among the Elderly
Bankruptcy is quickly becoming a reality for a number of Americans 65 years of age and older. In fact, they are three times more likely to file for bankruptcy now than this same age demographic did in 1991. With the exorbitant costs of healthcare, pensions disappearing and social security not going as far as it used to, it’s no surprise.
Understanding Florida's Bankruptcy Exemptions
Understanding the Dangers of Personal Loans
New Study Reveals Waiting to File Bankruptcy Can Hurt You
What Constitutes Harassment by a Debt Collector?
Continuous communications from debt collectors can be overwhelming and annoying, but at what point is the communication considered harassment? Debt collection harassment is more common than you might think. In fact, a recent study by the Consumerist found that one-in-four consumers – or 27 percent – felt threatened by debt collectors for outstanding bills or loans they owed.
My bankruptcy trade line just came off my credit report. Ten years this bankruptcy has been on my credit report and now I reflect on my life in these last ten years.
Changes Coming to Student Loan Bankruptcy Rules
The Department of Education is reviewing the current ‘undue hardship’ standard when it comes to discharging student loan debt in bankruptcy. Judges generally require borrowers prove that they cannot maintain a “minimal standard of living” while repaying the loans, that their circumstances will not change for a significant amount of time and that they have made “good faith efforts” to repay the loan before filing for bankruptcy.