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When facing mountains of debt that you cannot overcome, the last thing in the world you want to deal with on top of that is the hounding of a debt collector. Unfortunately, debt collectors are not always known for their kind methods of handling debtors, either. In addition to classic harassment tactics, debt collectors may also implement misinformation and miscommunication in order to get what they want. Thus, it is something for you to keep an eye out for. Manipulation of information The Consumer Financial

When you file for a chapter 7 bankruptcy, you will be working with a bankruptcy trustee. This person will have a great deal of leverage in your case, so it helps to understand what his or her role is. Your trustee will monitor your case, recover property from your estate and distribute assets to creditors. This individual is not a lawyer and cannot represent you in any way, but he or she is not your enemy either. How your trustee can help you Your trustee

Chapter 7 bankruptcy may discharge most consumer debts including your outstanding medical bills. According to the U.S. Census data, about one out of every five U.S. households has unpaid medical debts. As reported by Credit.com, health care expenses contributed to nearly 67% of bankruptcy petitions submitted in 2019. If you paid for your family’s health care treatments with credit cards, the court may discharge these debts regardless of their amounts. When could medical debts end up in collections? Medical bills may contain errors. Professionals estimate

A lender sending you a notice for defaulting on a mortgage generally means that your account has not received a payment for 60 days. As noted by U.S. News and World Report, the next step your lender takes may include filing a lawsuit to begin foreclosure. Creditors follow their own timeline to determine when borrowers have defaulted. Your loan’s terms most likely define how many months can pass without payment. Some mortgage companies allow two months. Credit card issuers, however, often go up to six

No doubt it is with a feeling of relief that you have decided to file for bankruptcy protection. However, if you want the bankruptcy process to go smoothly, you must be alert to potential problems. Here are five mistakes you must avoid. 1. Failing to list all creditors The law stipulates that you list all your creditors when you file for bankruptcy. Double-check to make sure you have not missed one. If you fail to list a creditor, your trustee may not discharge the associated