Are you in debt with multiple credit card or other kinds of companies? Have you considered pursuing debt consolidation to help fix your debt? This article will provide some of the hidden insights involved with debt consolidation to help you determine if it’s the best …
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In March 2017, we discussed the differences between Chapters 7 and 11 Bankruptcies. To recap, Chapter 7 Bankruptcies are generally filed when a business is at the end of its line. Upon filing, the company chooses to liquidate its assets and pay any obligations and …
Have you ever considered filing for bankruptcy as a means to avoid paying for debt? There are some important aspects to keep in mind before filing for bankruptcy, such as when and which kind of bankruptcy to file for. What are Chapter 7 and Chapter …
Do you know if a collection agency can search a debtor’s bank account for funds to pay back debt owed to you? Imagine that you’re one of thousands who have companies that owe you money. You’ve spent countless hours and paperwork working on getting them …
So now you’ve obtained a judgment in a debt lawsuit that allows you to collect the amount a debtor owes you. Do you know how to enforce the judgment to get the debt? Post-judgment debt collection occurs after creditors get a lawsuit judgment and move …
Have you ever had a company owe you money? If you’re a company and are waiting on long-overdue payment from another company, you are eligible to download and send a Final Notice form. Final Notice forms are used to get debtors to pay debt they …
We’ve already explained the process of how debt collection works; beginning with the first bill you miss and then to if you get sued. What if you are one of the 80% of Americans who has accumulated debt in your life? According to a 2016 …
A debtors’ prison is a prison specifically designed for people who are unable to pay off their debt. The idea of a debtor-specific prison stems back as early as the 5th century, where prison conditions included starvation, abuse from other prisoners, diseases, and unfair prison …
Since the Consumer Financial Protection Bureau (CFPB) was established in 2011 as an independent company, consumer protection from collection agencies has surged in the financial sector. To provide significant improvements to the Great Recession, the CFPB was made into existence by the 2010 Dodd–Frank Wall …
The Fair Debt Collection Practices Act is a consumer protection amendment that limits how third-party debt collectors communicate with consumers who are in debt to another person or company. Third-party debt collectors, also known as collection agencies, are usually hired on by a person or …
