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Debt collectors must abide by the Fair Debt Collection Practices Act (FDCPA), an act enforced by the Federal Trade Commission. This act classifies certain practices, behaviors and actions as illegal and harmful to the person these collectors have targeted. In order to fully protect yourself from debt collector harassment, it is important to understand what this harassment can look like. You must understand what the FDCPA can provide protection from, too. Can a debt collector call 24/7? The Federal Trade Commission examines information about debt

It is well known that there are two kinds of personal bankruptcy in the United States: Chapter 7 and Chapter 13. However, it is not necessarily a choice which one that you will file. It is your income that determines whether you file a Chapter 7 or a Chapter 13. In the event that you are lower-income, it is highly likely that you will file a Chapter 7 bankruptcy. Another name for the Chapter 7 bankruptcy is a “liquidation” bankruptcy. This means that you may

Choosing to file for personal bankruptcy in Maryland is never an easy decision. Yet almost as difficult of a choice is what chapter of bankruptcy you should file under. You can opt for a Chapter 7 (which allows for the discharge of certain debts) or a Chapter 13 bankruptcy (which provides you the chance to repay your liabilities while halting prejudicial collection efforts). It is that very benefit of having debts discharged that makes Chapter 7 the more popular choice. Many come to us here

A Chapter 7 case remains a popular option among those seeking personal bankruptcy protection due to the benefit it offers of having certain debts discharged. Indeed, according to information shared by the American Bankruptcy Institute, a vast majority of bankruptcies filed in Maryland in 2019 were Chapter 7 cases. Yet for all of the benefits that a Chapter 7 bankruptcy offers to those struggling with debt, one also cannot overlook the impact that it has on their current (and future) financial situation. A bankruptcy affects

When you file for bankruptcy, you can get your finances back to square one. However, once you file, you cannot file again for a set number of years after your discharge. This means that you need to be very careful with your finances. You have to create a budget and stick to it. Creating a budget means balancing your expenses and income so that you make equal to or more than your expenses. U.S. News and World Report explains that you should begin by looking

A Chapter 7 bankruptcy may give Maryland residents a release, or discharge, from the obligation to pay most debts. There are circumstances, however, in which you may choose to enter into an agreement to reaffirm your debt in a Chapter 7 proceeding. A reaffirmation agreement may be available if you have a secured loan and wish to keep the underlying collateral. When you reaffirm an obligation, you continue to make payments, and you remain liable for the entire unpaid loan balance. By continuing to pay

When you consider filing for bankruptcy in Maryland, there are certain things that you may do with your finance that may end up hurting your case. Before filing for bankruptcy, you should consult an excellent attorney who may take you through the process. However, even before you do that, there are some financial mistakes that you should avoid if you want the bankruptcy process to flow smoothly without any challenges.  According to Alllaw, you should avoid transferring your assets or money to a family member with the hopes