Working with clients who fall into debt traps has made me cautious about using credit cards. That’s an understatement. I’m paranoid when it comes to debt. I pay off all personal and business credit card debts in full and never carry a balance. In fact, I pay the accounts weekly so I don’t carry a
Chapter 7: The 99% Solution
What is the most effective solution to a serious debt problem? Without a doubt, Chapter 7 remains the single most effective way to eliminate debt. What is the success rate of chapter 7 cases?
In reviewing 172 cases filed by our firm since January 1, 2014, clients received a discharge in all but three cases.
Is there such a thing as getting help to avoid bankruptcy?
A recent client asked this great question:
Is there such a thing as getting help to avoid bankruptcy? My wife and I have a small business. We are struggling to keep it going. We’re down over 50% this year, we’ve cut some expenses, and customer payments are dragging. While we are not unique, and I
How to Search Nebraska Court Records Online
It seems like a lot of people are shocked to learn that they have been sued or that judgments have been registered against them. I remember speaking to a new client recently and it was unclear how much she owed and from what she was saying her total debts were less than $5,000, an amount
CFPB Sues Junk Debt Collection Lawsuit Mill
The Consumer Financial Protection Bureau has filed a lawsuit against the debt collection firm of Fredericak J. Hanna & Associates and its three principal owners “for operating a debt collection lawsuit mill that uses illegal tactics to intimidate consumers into paying debts they may not owe.” The CFPB complaint alleges that the Hanna firm files
70% of Debt Buyer Lawsuits Dismissed When Consumer Files Answer
A report issued by the Consumer Financial Protection Bureau (CFPB) found that a debt buyer dismissed 70% of its lawsuits when the consumer filed a written answer to the lawsuit.
As part of a debt collector examination, Supervision reviewed collection lawsuits initiated by the entity. Examiners found that in 70% of the cases, when the
Credit Card Lawsuits: 3 Things You Must Do Now
If you have been sued by a credit card company or by a debt buyer such as Midland Funding, CACH LLC, LVNV Funding, Portfolio Recovery, Cavalry SPV, Asset Acceptance, Unifund CCR Partners or Encore Capital, you need to take immediate action. Here are three things you must immediately do to win the credit card lawsuit
Contracts? We Don’t Need No Stinking Contracts!
I sued you, you didn’t file an answer,
and you didn’t come to court.
What more do I need to prove?
–Remark made by an attorney for a junk-debt buyer.*
Junk debt is a debt that is sold by creditors at a deep discount with very little or no documentation of the original contract, no