Under FTC Settlement, Debt Buyer Asset Acceptance Agreed to Pay $2.5 Million for Alleged Consumer Deception One of the nation’s largest consumer debt buyers has agreed to pay a $2.5 million civil penalty to settle Federal Trade Commission charges that it made a range of misrepresentations when trying to collect old debts. In addition, the…
FTC Consumer AlertPDF (directly from FTC website) Time-Barred Debts: Understanding Your Rights When It Comes to Old Debts If you have old debts, collectors may not be able to sue you to collect on them. That’s because debt collectors have a limited number of years — known as the statute of limitations — to sue…
When you die, your debts usually die with you. Surviving family rarely have a legal obligation to pay unless they co-signed the loan. Thus, when someone dies, their credit cards and other debts are discharged (wiped away). But, that has not stopped unscrupulous debt collectors from continuing to attempt to collect debts from the surviving…
http://www.rollingstone.com/politics/news/is-the-sec-covering-up-wall-street-crimes-20110817
In Texas, the marital community enjoys the protection of the filing spouse’s chapter 7 bankruptcy discharge
Many of my clients and homeowners around the country are reporting a lack of success with their attempt to obtain loan modification. Beware of Mortgage Servicing Firms that are telling their clients that they have to be three months late before they can even apply. After they apply, these homeowners are then given a run-around. …
Bankruptcy Timeline: You set an initial appointment with your bankruptcy attorney and make arrangements to be in the office at the appointed place and time to discuss whether a chapter 7 is the right solution for you. Either at the initial consultation or later, you will retain your new chapter 7 lawyer and pay the…
1. They are not designed to get you out of debt 2. The not-for-profit ones are no better than the for profit ones 3. Most people don’t get out of debt using a debt consolidation plan 4. Bankruptcy, even Ch 13, is often better than a debt consolidation plan 5. The debt consolidation industry fails…
Bankruptcy is intended to help a person in financial crisis get a fresh start, but the laws and regulations you need to comply with are very complex and vary from person to person, and state to state. An online service can help someone prepare a petition, but it cannot serve as an advocate to help…
Accountants generate a report called a “cash flow statement.” It is a fancy way of deciding whether you are spending more than you are making; in other words, if you are “in the hole.” “In the hole” is not a technical term, but I like to refer to it when talking with people about…
