Monday, October 12, 2015

Shield Yourself from Illegal Collection Activities

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 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.