credit card debt

What Will Bankruptcy Save Me From?

If you’re behind on debt payments and don’t have much hope of catching up, you may be considering declaring bankruptcy as a solution. Before you do, it’s important to know exactly what declaring bankruptcy can (and cannot) do for your financial situation. Here’s a closer look at how both chapter 7 and chapter 13 bankruptcy work, and how they can …

Bankruptcy: Free at last? Not so fast.

    Personal Bankruptcy: Are You Free at Last? Not So Fast.   Personal bankruptcy can be a viable solution for dealing with your consumer debts, such as credit cards or personal loans. However, personal bankruptcy does not eliminate all kinds of debt. You will still owe debts to the federal government, like back taxes and student loans.   Additionally, …

Debt Collectors To Pay $83 Million for Bad Practices

A Missouri jury ordered a debt buyer to pay nearly $83 million dollars to a Kansas City woman it pursued for a $1,000 credit card bill she didn’t owe. The jury found Portfolio Recovery Associates LLC guilty of violating the Fair Debt Collection Practices Act, for which it will pay a fine of $250,000. They also maliciously prosecuted the woman, …