In 1978 Congress passed the Fair Debt Collection Practices Act (FDCPA) to regulate the debt collection industry. The purpose of the act is to eliminate abusive practices that creditors use to collect a debt from the consumer....
Category: bankruptcy_blog
11 Nov, 2019
Two Types of Bankruptcy Debt
Most consumer debt can be classified into two types, either secured and unsecured. This can be useful to know what type your debt is when you are considering bankruptcy. Secured debt has collateral attached to it, such as a...
8 Nov, 2019
Discharge of Debt in Bankruptcy
The goal of most bankruptcies is to discharge as much debt as possible. You are eliminating your obligation to pay on your late and missed unsecured debts. Bankruptcy is a relatively easy way to get rid of your debt...
The meeting of the creditors is also referred to as the 341 meeting after the bankruptcy code it falls under. The meeting of the creditors usually occurs within a few weeks after you file your bankruptcy paperwork. The...
1 Nov, 2019
Wage Garnishment and Bankruptcy
If you are behind in your debt and your creditors are threatening you with liens or wage garnishments, filing bankruptcy can stop that action from proceeding. The automatic stay begins when you file bankruptcy and prevents...
