If you have searched news stories in recent months you have come across reports of people experiencing severe debt collection consequences over debts they do not owe. Some are being sued by collectors and others have experienced liens on their homes; all over debts that are false accused. How can this happen? Some debt collectors simply have wrong information, while others are out to scam a quick buck.
In the society we live in, it is increasingly difficult to avoid debt. If you have high amounts of debt, then it's wise to understand exactly what your options are for getting out of debt. The word "bankruptcy" has gained a bad rap over time. But bankruptcy isn't all that bad. In fact, it's time to set the record straight about what exactly happens when a person files bankruptcy. Here are three of the most common misconceptions about Kentucky bankruptcy.
Filing for bankruptcy can be a liberating experience. The freedom from high debt balances and delinquent accounts can offer you a fresh start for your financial future, but how exactly do you start over? The good news is that life after bankruptcy isn't complicated, it just takes time and dedication.
Repeated phone calls, letters of collection, and threats of lawsuits are all common annoyances of dealing with debt collectors. While their tactics may seem bullying, the truth is that many debt collection companies are violating the rules. The Fair Debt Collection Practices Act has guidelines that debt collectors must follow when attempting to collect on a debt, but many aren't adhering. Here are some of the list of No-No's when it comes to collecting on a debt:
Marital problems can often arise when financial hardship strikes and spouses become stressed with how to find a resolution. While debt burdens can already be hassle enough, adding a potential divorce to the matter can greatly complicate things. Whether you are looking to divide debts and move on or file for bankruptcy it is important to discuss your situation with aLouisville bankruptcy lawyer to ensure you dissolve the relationship appropriately.
The saga in Detroit could be coming to an end as long as several key factors align in the courts. After months of collaborative planning and financial restructuring efforts between bankruptcy lawyers and financial experts, State Legislature and numerous private organizations have bestowed their blessing to the bankruptcy plan that provides Detroit with $18 billion to revitalize the city. Now, the decision lies in the hands of the city: its employees and retirees.
If people have been telling you that bankruptcy ruins credit, then it is your turn to set them straight. Bankruptcy may mean admitting that you have more bills on your desk than money in your pocket, but it does not mean that your credit is ruined forever.
Yes, you read that correctly. Bankruptcy can be a blessing in its own way. Most bankrupt people have a tendency to focus on what they've lost, and that's both natural and normal. However, bankruptcy does have several good points to its credit. We've listed a few to help uplift your spirits.
The Chapter 7 bankruptcy process is a bit more tricky to navigate than a Chapter 13 case. In order to have your best chance at a successful debt discharge, follow a few simple steps: