Credit Cards have been around for decades, and the debt that can come along with them can pose real financial challenges. Here's a look at the state of credit card debt and how it's affecting Americans. Call for a free bankruptcy consultation today
When a person or business seeks bankruptcy protection, some may wonder how a filing offers protection. When bankruptcy is filed a protection order known as the automatic stay becomes effective immediately. The action is a welcomed relief effort that gives debtors a chance to review their situation and seek the best solution without pressuring collection [...]
Ignoring credit card debt is common for many consumers, that is, until a lawsuit is filed against you for outstanding debt owed. You still have the option of making an agreement with the creditor and possibly adverting the suit altogether. An agreement to pay what you owe may reduce legal collection action taken against you, [...]
Credit Card Debt and Bankruptcy Chapter 13 bankruptcy helps debtors reorganize their debt into manageable payments scheduled over a certain time period. When it comes to credit card debt , the amount you pay may vary depending on multiple factors. If you make necessary payments according to your plan you may qualify to have any [...]
Splitting Credit Card Debt in Texas Debt including credit card debt is divided in divorce depending on what state you reside in. Community property states such as Texas separate debt differently than equitable distribution states, also referred to as common law states. There are a few things that can be done before debt is divided [...]
When you file bankruptcy, most often the debtor who files the petition, also known as the primary borrower, is protected from creditors. This may vary depending on which chapter is filed. It is possible for creditors to pursue collection attempts with the cosigner since they originally agreed to pay if you are unable to. Options [...]
Being Sued for Past Credit Card Debt? Many consumers wonder if getting sued for past credit card debt is possible. The truth is creditors have the option to sue for debt for several years after payments have stopped being made on the account. It may depend on how much is owed on the account but [...]
Credit card companies can initiate lawsuits against debtors who owe them money. In so doing, they are attempting to seek a judgment against the debtor in order to use more aggressive tactics to collect their debt. This can include asset seizure, garnishment of wages, or levies on your bank accounts. For those who own real [...]
During a period of unemployment you have some serious decisions to make regarding outstanding debt. Debt consolidation is often an option consumers may use to help manage their debt. This includes combining outstanding loans with a new loan that pays off what was owed, leaving just one payment to be made each month instead of [...]
Being Sued by a Credit Card Company? Being sued for credit card debt makes many consumers nervous about dealing with the situation. The issue becomes more complicated if you're unsure if the debt is really yours or you can't afford to pay it. While creditors should be able to provide proof related to their claim, [...]
