Friday, July 8, 2016

Debt Collection Attorney vs. Debt Collection Service: Key Differences


If you are a creditor and you are unable to recover loans from your borrowers then you should consider working with a debt collection service. However, you need to understand the different types of debt collection services available out there, with the main ones being services of a debt collection attorney and of a debt collection company. While they both may sound the same, there is a huge difference between the way they operate. Understanding Debt Settlement First and the foremost, it is imperative to understand how debt settlement works. Whether you hire an attorney or a company, they will work on your behalf to collect the debts from the borrowers by either cutting deals or filing suits in the court.
http://www.ruffilaw.com/debt-collection-attorney-vs-debt-collection-service-key-differences/

Wednesday, July 6, 2016

A Bankruptcy Lawyer Discusses How to Determine Chapter 7 Eligibility


If you are thinking about filing for Chapter 7 bankruptcy, you need to understand the different criteria you will be judged on. In most cases, your bankruptcy lawyer will let you know immediately you whether or not you are eligible for bankruptcy. In general, your income needs to meet a certain threshold, you must not have filed for bankruptcy during a certain period, and you need to convince the court of your case.

Here are a few scenarios in which you won’t be able to file for Chapter 7 bankruptcy.

Your Income Meets Debt Payment Criteria

Unlike before, there is specific criteria on who can stay in Chapter 7 bankruptcy when it comes to debt repayment. Previously, it was up to the judge to decide whether you are eligible for Chapter 7 bankruptcy. For instance, if the judge believed you to have the income to fund a repayment plan through Chapter 13, then he or she had the power to force you to do so.

http://www.ruffilaw.com/bankruptcy-lawyer-discusses-determine-chapter-7-eligibility/

Tuesday, June 28, 2016

Collection Attorney: Making Sure That You Get Paid For Your Services


Chasing after your customers who haven’t paid you is stressful. Not only does it affect your cash flow, but it also wastes time that you should be spending on more important tasks. This is why hiring a collection attorney can be a wise option. You’ll find that with their help, the burden of following up over and over again will be lifted. Ways to Collect Debt Debt collection agencies can help get payment for credit card loans, late payments, and others. Collecting payment is a process, and there are various techniques on doing it. Most of the time, collection lawyers will call the customer. If it doesn’t work, a notification letter will be sent. If the customer is having a hard time paying the debt, a settlement may be discussed.
http://www.ruffilaw.com/collection-attorney-making-sure-get-paid-services/

Chapter 7 Bankruptcy and How You Can Determine If It’s Good For You


Being buried in debt can cause a lot of stress. What’s even worse is when you’re no longer capable of paying it. Don’t worry though because it’s not the end of the world. You can always look into filing a Chapter 7 bankruptcy. As long as you’re eligible, this can be your key to getting a fresh start. How Does it Work? When you’re approved for Chapter 7 bankruptcy, collection agencies will no longer be able to chase after you. It’s a way to discharge most of your debt, giving you a much-needed relief from creditors, some of whom might have been starting to harass you just to make you pay. In favorable cases, you will also be able to keep some of your possessions such as your home or car.
http://www.ruffilaw.com/chapter-7-bankruptcy-can-determine-good/

Tuesday, June 21, 2016

Dealing with Difficult Debtors

As a creditor, there may be times that you are going to deal with difficult and risky debtors. They may fail to make their payments on time, putting you in a bind. Handle these situations in a professional manner with these helpful tips.

Friday, June 3, 2016

How to Handle Bankruptcy Correctly

Falling on hard times financially is never easy to get through. For some, it may be crippling because they may have to file for bankruptcy. If you are facing this ordeal, there are several appropriate ways to respond.

Friday, May 20, 2016

What to Know about Filing for Bankruptcy

If you are severely in debt, the only viable option may be filing for bankruptcy. You can make this decision without any regrets if you are aware of certain factors.

When Business Is Tough: Dealing with Bankruptcy

As a business owner, you may be faced with hard financial times. The funds may be running low, causing you a lot of stress. While it may seem impossible to be out of a financial rut, there are ways you can deal with the scenario. Below are some tips:

Thursday, May 5, 2016

Tips on Hiring a Collection Attorney to Defend You Against a Lawsuit


When a collection lawsuit is filed against you, consider hiring a collection lawyer right away. Thinking of representing yourself in court or taking the lawsuit for granted will not do you any good. If the court determines your lack of response, it can make a judgment without proceedings, and that judgment will almost always not favor you. Here are some tips that can help you when hiring a collection attorney.

Take Immediate Action

When served a lawsuit, you have about five days to respond. Failure to do so will lead to a court judgment against you. Given this, you must take immediate action and look for a lawyer who can help you deal with the problem. You need someone who understands the law governing debts and knows how to respond quickly to the summons attached to the lawsuit.
http://www.ruffilaw.com/tips-hiring-collection-attorney-defend-lawsuit/

Tuesday, May 3, 2016

Eligibility Tips to Follow When You’re Filing for Chapter 7 Bankruptcy


Those who are no longer capable of paying all their debts can choose to file for Chapter 7 bankruptcy. Under this process, a debtor will liquidate assets to produce amount that can be used to pay the creditor. The creditor will then discharge the remaining debt, allowing the debtor to have a fresh start without any unpaid bills. Not everyone, however, is eligible for Chapter 7 bankruptcy. If you’re planning to use this option to get rid of your debts, first determine your eligibility.

Pass the Bankruptcy Means Test

The means test is designed to determine if your income level is indeed low enough for a bankruptcy. This is carried out by comparing your monthly income with the median family income the state sets for the size of the family you have. If your monthly income is higher, you won’t be approved for Chapter 7 bankruptcy. You can, however, try a Chapter 13 bankruptcy.
http://www.ruffilaw.com/eligibility-tips-follow-youre-filing-chapter-7-bankruptcy/

Thursday, April 14, 2016

How a Collection Attorney Can Protect Your Rights When Faced with Debt


If you are facing regular contact from a debt collection service, you might feel overwhelmed and unsure of your legal rights and obligations. In this type of a situation, having an attorney to represent you can help to protect your rights under the law. An attorney can provide you with information and may be able to represent you if you try to settle your debts through personal bankruptcy or other means. Unwanted Debt Collector Contact A collection attorney may be able to help you if you are receiving unwanted contact from a debt collector. Collection agencies must abide by the Fair Debt Collection Practices Act (FDCPA), which is enforced by the Federal Trade Commission. This law stipulates that debt collectors may not use abusive or deceptive techniques to collect money from you.
http://www.ruffilaw.com/how-a-collection-attorney-can-protect-your-rights-when-faced-with-debt/

How Chapter 7 Bankruptcy Can Help Businesses Solve Their Debt Problem



There may come a time when you can't make a business loan payment or fail to make a personal credit card payment on a balance used to fund your company. If talking to your creditors about alternate payment arrangements fail and you have no other options to resolve your debt issues, it may be a good idea to look at bankruptcy. How can a liquidation bankruptcy help a business owner? Learn the answer to this question below: What Is a Liquidation Bankruptcy? Under Chapter 7 of the bankruptcy code, debtors have the right to have their assets liquidated and the money used to pay off creditors. For businesses, filing for Chapter 7 bankruptcy means selling off company assets and using that money to pay off creditors up to the amount raised through liquidation.
http://www.ruffilaw.com/how-chapter-7-bankruptcy-can-help-businesses-solve-their-debt-problem/

Tuesday, April 5, 2016

What Not to Do When Filing for Bankruptcy

As people say, bad things often happen to good people. Nowhere is this truer than when people are forced to file for bankruptcy after a serious illness or divorce. The great thing about bankruptcy is that it will pardon a petitioner of most of the debt they owe.

That being said, a bankruptcy filing is still a legal process, and as such, it requires a petitioner to accomplish all steps accurately and avoid these missteps so that the court won’t dismiss his or her plea.

Failing to Declare All Income Sources

An important part of the bankruptcy process involves declaring all your income sources to demonstrate that you do not have the means to pay off creditors. This means that if your child works part time after school, his or her income should be declared in your filing, too.

Monday, April 4, 2016

Questions to Ask Before Filing for Bankruptcy

Perhaps one of the toughest ones you’ll ever have to make is whether or not to file for bankruptcy. While it’s a great way to discharge unsurmountable debt, there are many considerations you should keep in mind before filing a petition.

Should I File for Chapter 7 or Chapter 13 Bankruptcy?

In Chapter 7 bankruptcy, most of your unsecured debt like unpaid credit card bills will be discharged. Secured debt, such as mortgages or car loans, won’t be forgiven, though. To have these loans to be dismissed, you’ll have to return your house or vehicle to creditors.
                                                                                         
Chapter 13 bankruptcy, on the other hand, restructures your loan so that you can repay a portion of it over the course of three to five years. Unlike the latter, this may help you hold onto your properties.

Monday, March 7, 2016

An Overview on How Bankruptcy Works

Bankruptcy is a remedy for those whose financial resources can no longer keep up with their existing costs and expenses. Individuals and businesses may both end up suffering from such financial distress that they end up having to file for bankruptcy.

Tuesday, March 1, 2016

Learn the Different Types of Bankruptcy Filings

Making the decision to file for a bankruptcy should not be taken lightly. It’s not just a matter of conceding that you are in dire financial straits, and that the only way for you to recover is to start from scratch again.

Monday, February 1, 2016

Hire a Collection Attorney to Improve Your Chances in Debt Settlement


There are various types of attorneys, some of which practice solely in specific area of the law. Those people who find that they need help with bankruptcy, business law, contracts, real estate and other such situations might find themselves in need of an attorney to help them settle their debt assist them with collecting through debt collection service. Having a legal professional on your side can certainly improve your chances to settle debt. Case Evaluation and Strategy Development Whether you’re the creditor who’s looking to collect on a debt or the debtor who is looking for a way out of debt, debt attorneys can assist you. Perhaps the most valuable service that such attorneys provided is case evaluation and strategy development. The most difficult part of either collecting on a debt or getting out of it is knowing where to begin.
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The Debtor’s Guide to Understanding How Chapter 7 Bankruptcy Works


A Chapter 7 bankruptcy is one option for debtors who are overwhelmed by debt and cannot pay their bills without legal intervention. Although Chapter 7 is one of the most common forms of bankruptcy for individuals, it is not necessarily the best choice, and it has serious consequences. A debtor will want to consult with a bankruptcy lawyer prior to filing for any bankruptcy to ensure they are choosing the option best for their situation. Chapter 7 Qualifications A bankruptcy under Chapter 7 is open to any individual or business, although it is usually used by individuals. There are no debt limits or requirements based on solvency. There are, however, certain requirements related to the filing of previous bankruptcies, and the debtor is usually required to receive credit counseling prior to filing. A person will likely choose to file under Chapter 7 if they have limited income or no reliable means of repaying their current debt.
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