The unsecured creditor extends credit on the faith of the buyers/debtors ability and willingness to pay. If the debtor fails to pay, the creditor has legal means to receive payment from the debtor. If the debtor does not pay...
In 1978 Congress passed the Fair Debt Collection Practices Act (FDCPA) to eliminate abusive practices and regulate the debt collection industry. According to the Federal Trade Commission’s website: Section 802...
Paying off creditors before bankruptcy may seem like a smart idea. After all, you are trying to eliminate your debt, right? While conventional knowledge would support paying off as many creditors as possible before filing for...
Overspending, loss of a job, medical bills, and lack of savings are amount the top reasons for debt in America. Additionally, high household debt levels are still normal and haven’t changed much since the financial meltdown...
There are a few options for resolving your debt problems from simple snowball style balance payments to bankruptcy, and everything in between. One option often considered by those looking to eliminate the financial hardship...
