Pro: Bankruptcy can often be used to eliminate or significantly reduce unsecured debt.Con: Not all debt can be removed during bankruptcy, student loan debt, some taxes and child support obligations generally may not be discharged.Pro: An automatic...
Month: June 2016
Fair Debt Collection Practices Act Prevents Creditors from Harassing Relatives
Bankruptcy is an option for individuals that cannot pay their credit card debt or medical bills. Bankruptcy gives individuals more time to pay their bills. It also stops collection agencies from contacting creditors about their debts.Under the Fair Debt...
Credit Card Debt Elimination in Chapter 7 Personal Bankruptcy
Eliminating credit card debt is one reason many people file for chapter 7 personal bankruptcy. A drop in income, a divorce, or illness can cause credit card debt to accumulate. Bankruptcy is a good option in eliminating this credit card debt. A trustee compares...