When
an individual owes a valid debt, the lender or holder of the debt may contact
that person in an effort to collect payment. However, there are limits as to
what that collector may do. You cannot be contacted before 8 a.m. or after 9
p.m. unless you give whoever is contacting you permission to do so. Debt
collectors are also barred from threatening to take legal action for nonpayment
if they do not intend to do so.
Monday, October 12, 2015
Monday, October 5, 2015
The Basics of Chapter 7 Bankruptcy
If
you have chosen to file for Chapter 7 bankruptcy, you are asking creditors for
a straight liquidation. A trustee will take an inventory of your assets and
then use any money collected to pay off your creditors. In some cases, you may
be able to get through the bankruptcy
process without paying your creditors anything.
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