7 Illegal Debt Collection Practices to Watch For

You’re busy at work when the phone rings. Assuming that it’s a client or a colleague, you answer it but, instead, you’re greeted by a hostile debt collector - the same one who’s been calling the office every day for a month now. You’ve told them not to call you at work, but they refuse to listen. When you don’t pick up, they call your supervisor instead. It’s so stressful, but they insist that you owe the money and Read More

A Brief Guide to Chapter 13 Bankruptcy

Chapter 13 bankruptcy is often referred to as debt relief for higher income wage-earners. It is a rehabilitative bankruptcy that allows a debtor with regular income to repay all of their debts over a three to five year period. If your secured debts are less than $1,184,200 and unsecured debts do not exceed $394,725, Chapter 13 can give you the fresh start you need to regain financial solvency. Why File Chapter Read More

Four Things to Take Into Consideration If Your Home is Being Foreclosed and What You Can Do About It

The prospect of losing your home can be so daunting that you may be either paralyzed by anxiety and fail to take action or rashly choose short-term solutions over long-term benefits. Neither option is in your best interests, so sometimes you need help understanding your options during foreclosure and creating a clearer picture. Alternatives to Foreclosure Although foreclosure may seem inevitable once you start Read More

Are You a Servicemember? Here’s How the SCRA Protects You

Civilians are not the only ones who experience financial troubles that end in bankruptcy. Many members of the U.S. military have debt problems that overwhelm them despite their best efforts. When this happens, the Servicemembers’ Civil Relief Act (SCRA) can provide important protections that help them regain solvency, either through modified repayment terms or personal bankruptcy. The SCRA Explained The Read More

6 Reasons Why You Need a Bankruptcy Attorney

Thanks to well-structured DIY kits, a lot of people are undertaking tasks and projects that were formerly the exclusive domain of licensed professionals. This even includes filing for bankruptcy on your own. While there is no statute forbidding you from handling your own bankruptcy case, it’s not recommended. This blog explains why you should seek assistance from a bankruptcy attorney during this pivotal time in your Read More

Know What to Expect: How Your Relationship With Lenders Will Change After a Bankruptcy

When we say that bankruptcy provides you with a new beginning, it’s an expression that covers several aspects of your post-discharge picture. While you do enjoy the benefit of a clean financial slate, you’re also having to start anew with lenders, some of which will be willing to help you rebuild credit while others may shy away (at least at first). This blog examines how your relationship with new and former lenders Read More

How to Value Your Assets in a Bankruptcy

When you file for bankruptcy, the petition needs to be accompanied schedules of property, which lists everything you own and its value. The latter information is especially important, as state exemptions allow you to protect personal property up to a certain value. Here are some tips for arriving at a reasonable estimate of each asset’s worth. Real Property Valuation Real property goes by fair market value, so Read More

4 Alternatives to Bankruptcy in Oklahoma

When you’re buried under a mountain of credit card, student loan, and medical debt, finding a solution can be difficult. When debt collectors keep calling and each mail delivery brings more overdue bills and demand letters, you may even be tempted to declare bankruptcy for financial solvency. While this can be the best solution for an unmanageable debt situation, there are alternatives to bankruptcy that may also Read More

What You Need to Know About the Fair Credit Reporting Act

The Fair Credit Reporting Act, or FCRA for short, is a federal law that governs how your credit information can be collected, used, and given out. It was passed in 1970 to ensure that the information retained by the credit reporting agencies was fair, accurate, and retained under secure and private conditions. Under the FCRA, you have the right to access the information in your credit file and dispute any Read More

Understanding Chapter 7 Bankruptcy

Chapter 7 bankruptcy is the most common form of bankruptcy in the U.S. Out of 794,960 filings that occurred in 2016, 490,365 were Chapter 7. It differs from other forms of bankruptcy in that all dischargeable debt is wiped out relatively quickly, giving you a fresh start much sooner than if you had filed for Chapter 11 or 13. Chapter 7 is available to individuals, couples, partnerships, and corporations. Even Read More