Statutes of Limitation on Debt Collection

Collection agencies and debt collection companies are well known for the way they do business. They’re much more concerned with getting paid than with how they go about collecting the debt. As long as they can get a consumer to pay the debt that is owed they care little about consumer’s rights or even whether…

How to Settle Debt with the Original Creditor

When a debt exists there are two parties involved – the creditor, who is the source of the loan, and the debtor, who is the receiver of the loan. If you are a debtor whose loan or credit card account goes into default, be prepared to face serious repercussions. However, it’s never too late to…

Chapter 7 Bankruptcy: What You Need to Know Before Filing

What is chapter 7 bankruptcy? Chapter 7 bankruptcy releases or “discharges” individual debtors from having to pay certain outstanding debts while allowing them to keep exempt assets so they can get on with their lives. It has strict eligibility criteria and only certain types of debts can be discharged. The main purpose of Chapter 7…

Chapter 13 Bankruptcy – What It Is & How It Works

Who is eligible for chapter 13? Chapter 13 is reserved for individuals and couples, as opposed to corporations and partnerships. You’re most likely eligible assuming you have received credit counseling and possess a regular income sufficient for your living expenses. Additionally, your secured debts must be less than $1,081,400 and your unsecured debts should be…

What You Can Keep in Bankruptcy

Many people have the impression that bankruptcy means giving up everything you own. Quite the opposite is true; bankruptcy is designed to offer you relief from debt without the need to give up basic things that bring stability to your life. That said, a great deal of what you can keep depends on the specifics…

How to Handle Medical Debt

Without or without insurance, medical debt can be a huge burden. Hospital and doctor’s bills can be extremely high and sometimes impossible to pay without a plan. Even if you have an insurance plan, you can quickly get overloaded with co-pays, deductibles, and prescriptions. Unpaid healthcare expenses are easily one of the largest debts that…

Should I File Bankruptcy?

At first glance, filing for bankruptcy may seem like a great way to settle your debts and move on with your life. Unfortunately, the process isn’t as simple as filling out a form and the effects of bankruptcy will stick with you for years. As you begin the evaluation process of whether or not bankruptcy…

Statute of Limitations vs. the Reporting Period on Credit Items

When it comes to understanding your credit score and credit reporting, there are a lot of terms to remember. Because of this, sometimes it’s easy to get confused when it comes to knowing your rights and how to manage your credit repair efforts. Two of the most commonly confused concepts in credit repair and credit…

What Are My Legal Rights After Debt Settlement?

When you’re in the process of settling a debt, it’s crucial to keep complete records and to take careful steps concerning how you pay off your settlement. If you don’t take all the necessary precautions, or fail to make payments, creditors or collection agencies may continue to come after you for the full amount you…

What You Should Know Before Dealing with AFNI Collections

If you have had the displeasure of dealing with AFNI Debt Collections, you may already know some of the aggressive, unfair, and even illegal techniques they employ to try and get your money. It may seem intimidating considering that the agency collects on behalf of large companies like Verizon, Comcast, and State Farm Insurance. Fortunately,…