You have filed and completed your Chapter 7 or Chapter 13 Bankruptcy case, and finally received your all-important discharge. Unless you have very unusual circumstances, you did not officially reaffirm any of your debts in your case. However, now you have thought about it and you want to pay back a certain pre-petition debt that… Continue Reading
You have been informed by a creditor that your debt has been “charged off,” or your credit report shows that a debt has been charged off. You believe that this is the end of the matter, but all of a sudden you find out you have been sued for the debt by a debt collector. … Continue Reading
If you have been sued by a creditor or a collection agency on a debt that you owe, one way to resolve it is a settlement. Settlements are generally good for both parties, or at least less painful for both parties. The creditor gets some of the money it is owed, and you hopefully are… Continue Reading
The U.S. Department of Education recently announced a new process to identify and assist borrowers with disabilities who may be eligible for Total and Permanent Disability (TPD) federal student loan discharge. More information about qualifications and the application process can be found by clicking here. You can also read the April 12, 2016 Press Release… Continue Reading
One of the most frequently asked questions on the various debt and bankruptcy forums is whether a person is still responsible for debts their former spouse agreed to pay (or was ordered to pay) in a divorce settlement or decree. For example, a Court may divide the debts and order the husband to pay the… Continue Reading
You see the signs all over the place. “BUY HERE PAY HERE!” “NO CREDIT CHECK!!” “APPROVED!!” “BAD CREDIT OK!!” This is an awesome deal for people with poor credit, such as people just out of a Bankruptcy case, right? These companies provide a good service and help people rebuild their financial lives and give them… Continue Reading
The Governor’s Office of Consumer Protection recently shut down Zenith Financial Group, a Metro Atlanta-based collection agency. As part of the agreement, Zenith agreed to cease collections on $3.1 in purported debt. Zenith was accused of violating the Georgia Fair Business Practices Act by threatening consumers with arrest or imprisonment and concealing that its collectors… Continue Reading
The short and easy answer: Don’t do it!! We get this question all the time from either the person who has money problems or the friend or relative who is asked for the use of their bank accounts. If you are asked by someone to let them use your bank account to hold money, it… Continue Reading
This question comes up fairly regularly. Is it a good idea, or totally useless, to tell your creditors that you are planning on filing for Bankruptcy, have hired a Bankruptcy lawyer, or you are going to file for Bankruptcy at some point. There is really no firm answer either way as it depends on the… Continue Reading
Although Debtors Prison was a reality in the United States a couple hundred years ago, and still exists in other countries, you cannot go to jail or prison, or even be lawfully arrested, merely for owing a debt. It does not matter whether it is a $100 debt to a friend or a $1 million… Continue Reading
A term that has become popular in the real estate crisis of the last few years is “strategic default” (or “strategic foreclosure“). The theory behind the term is that the borrower is defaulting on a loan because of a financial “strategy” rather than an inability to pay. With the decline in housing prices many people… Continue Reading
We commonly see people facing financial problems who have co-signed a loan for another person. In some cases, it is the co-signed loan that actually drove the person to see a Bankruptcy lawyer or file for Bankruptcy. It is usually a debt that the person never expected to pay back. There is a general rule… Continue Reading
A question that comes up fairly regularly is whether it is too late to file for Bankruptcy after you have been sued. The answer is no, it is not too late. Most debts, such as credit cards or medical bills, are just as dischargeable after a case is filed or judgment entered as they are… Continue Reading
