As we enter 2009, many pundits are predicting that we’ve seen the worse that the recession has to offer, and things will improve in the coming year. Sadly, I don’t see it. Rather, I see things getting significantly worse before they get better. Why? Because of problems or continuing problems in four areas: the auto [...]
January 2009
The Fair Debt Collection Practices Act (FDCA) does not specifically define the term Credit. However as with many other terms used in the FDCA, the Act relies on the definitions contained in the Equal Credit Opportunity Act (ECOA). Under the ECOA “Credit” is defined as either: The right to defer payment of a debt; or, The [...]
On January 2, 2009, the venerable New York Times published an article entitled Credit Card Companies Willing to Deal Over Debt. In this article journalist Eric Dash notes that: After helping to foster the explosive growth of consumer debt in recent years, credit card companies are realizing that some hard-pressed Americans will not be able [...]
With the economic downturn and less income to go around, our natural instinct is to reduce spending. And, by all means, we should. However, if we all stop spending at the same time, we could make matters worse.
In bankruptcy, the means test controls. There are some exemptions, however. Read on.
A shout out to the Utah State Law Library blog who cited to the Bankruptcy Law Network” “The Bankruptcy Law Network is a great online resource if you have questions about bankruptcy and want information from a reputable source. The web site content is created and vetted by bankruptcy attorneys and consumer advocates from across [...]
