A reader asked me to elaborate on my previous post where I said that a consumer might - MIGHT - avoid the need for bankruptcy relief if there was a Fair Debt Collection Practices Act violation.
It isn’t a matter of how serious the FDCPA violation, but it is a matter of (1) how serious are [...]

Filing a bankruptcy can stop a wage garnishment from the IRS. Many tax debts are eliminated with a bankruptcy discharge. What happens after bankruptcy if the tax debt was not discharged? The rules for discharging tax are clearly stated in another excellent article; but not all taxes can be discharged.
Automated wage garnishments can be stopped [...]

Many of the TV investment talking heads, and government officials, have claimed the default crisis is contained in the sub-prime sector.  Not so.  More than those infected by the subs are headed for bankruptcy.
This story shows that the negative effects on the economy of the over-lending and housing bubble bursting will not be confined to [...]

Do not pay only the minimum payments on your credit card each month. When you pay only the minimum, the credit card companies maximize the amount of interest they earn on your debt.
Credit card companies make a tremendous amount of money each month on the minimum payments. They can change the price you pay [...]

Sinking Subprime Market
The stock market has lost 7% of its value in less than two weeks as a result of investors fleeing the subprime market. Foreclosures are up 58% from the same period last year reports Alex Veiga of the Associated Press, and there’s more bad news: American Home Mortgage Investment Corp. may be heading [...]