If you owe an outstanding debt, one way that the lender may try to collect is through wage garnishment. This is a legal process and therefore has to be properly ordered by the court -- a lender cannot just contact your employer on their own -- but it means you have...
New rule bolsters debt collectors’ ability to contact you
The Consumer Financial Protection Bureau (CFPB) was created to protect consumers after the 2008 financial crisis. However, the agency has approved a rule allowing debt collectors new avenues to contact you over past-due balances. Under the ruling, collection agencies...
A few ways to negotiate down your medical debt
We have discussed medical debt in our legal blog many times. We have even talked about the possibility of negotiating such debt to make it more manageable. In this post, our bankruptcy lawyers want to tell you how to begin the seemingly impossible task of getting your...
Can you stop the cash advance cycle?
Having to wait until payday to get the things you need isn’t always easy. For some, the need to get money fast leads them to seek out a payday loan or cash advance. With very few exceptions, people who take out one of these will get caught in a vicious cycle. Every...
The pros and cons of filing for bankruptcy
There’s a great deal of misinformation surrounding the bankruptcy process – perhaps the most damaging being that it leads to financial ruin. The truth is, like most major life decisions, bankruptcy comes with both pros and cons for those who file. If you’re facing...
These things could lead you toward Chapter 7 bankruptcy
As you realize you’re in financial trouble, there’s a lot to think about. But the one thing you never want to do is panic. You must keep your cool, review your situation in great detail and devise a plan that you can carry out in an efficient and effective manner....
Credit cards could worsen, not ease your debt problem
Have you ever noticed how credit card companies pop up when you are in financial trouble, acting like they are riding a white horse to your rescue? With a slash of your pen, they promise to help you escape the cash crisis you're currently facing. Well, credit card...
Bankruptcy Myth: Bankruptcy Destroys Your Credit
There are a number of myths surrounding bankruptcy that can scare people away from getting a fresh start and relief from overwhelming debt. One of the most common myths is that your credit score will never recover after filing bankruptcy. You might think that you’ll...
Rebuild your credit following bankruptcy with these 3 tips
You have struggled to pay your bills, and that has been reflected in your credit score. Now in the 400s, your score is nearly as low as it can be. You know that you won’t be able to get more credit, and you don’t see a way to improve your situation with any other...
What debts can bankruptcy discharge?
Mounting debts can make anyone’s life difficult. While you likely want to repay yours, you may lack the ability to. Yet, you may fear that some of your debts do not qualify for discharge. This may be the case, but it depends on the debts you have and the type of...
