When credit card debt goes bad, banks sometimes sell it to vulture investors at a steep discount. The vulture debt buyer then often tries to sue on the account to collect more than they paid. And their lawsuits are often the final straw forcing folks bankruptcy, where the debt buyer usually wants a share of [...]
Consumer Credit Issues
One of the concerns about filing for bankruptcy is that those folks will never be able to obtain credit again after filing for bankruptcy protection and assistance. Most times, nothing could be further from the truth as bankruptcy may actually improve folks’ credit score, according to my clients’ experiences (and as explained by [...]
Why would anyone take out an Internet payday loan? Bankruptcy lawyers scream this out loud at least once a week. It tends to frighten the neighbors. Small, high interest loans are often the last gasp effort folks use to make payments on other debt (like mortgage or car loans) — before they give in and [...]
One of the things that troubles those considering filing personal bankruptcy is the fear that it might be impossible to qualify for a home mortgage after a chapter 7 or 13 case. Indeed, it would be a cruel irony if a bankruptcy filing freed you at last from a heavy debt burden, enabling you to finally [...]
Bankruptcy and identity theft? How can this be an issue if someone is discharging debt? There are debtors who file for bankruptcy protection due to someone having stolen their identity. There are bankruptcy debtors whose identity is stolen and the thief files for bankruptcy. Then, there are those folks who worry about [...]
