Posts by Simon Haysom

The Fair Debt Collection Practices Act (FDCPA) protects consumers from aggressive and unscrupulous debt collectors. The law has been in force since 1977 and was amended in 2010. Despite being a well-established law, many debt collectors continue to violate it with abandon. Over 4,000 FDCPA cases are filed each year, and consumers file over 60,000…

“Gray” bankruptcies are becoming more common. Is it a good idea? We’ll have to give you a lawyer’s answer on this one: “It depends.” Some seniors have too many assets to make filing worthwhile, some have so few assets they’re uncollectable anyway, and some are either working like anyone else or have circumstances that make…

Nobody enjoys receiving collection calls. In truth, you don’t have to answer the phone when they call. You can usually ignore their emails and text messages. Paying creditors rarely works out in your favor, and unless they are likely to sue, you’re better off focusing on your day-to-day needs or saving the funds you’ll need…

In 2021, Americans failed to pay a record $688 billion on their tax returns. 23% of Americans have fallen behind.  If you fall within that 23%, then bankruptcy can be an avenue for eliminating some of your tax debt, though not necessarily all of it.  However, tax debt is a bit more complicated than other…

Bankruptcy law requires filers to undergo mandatory credit counseling before any debts are forgiven. Often, your attorney will link you with a non-profit credit counseling service. You can also find your own service. Any counseling service you use must be one of the list of agencies approved by the Department of Justice. You’ll be able…

As you consider bankruptcy, you might have heard about other forms of debt relief, such as debt settlement, debt consolidation, and debt management. While these terms all sound very similar, there are important differences between them. You should understand how each of these programs works and how they might impact your life before making any…

A reaffirmation agreement is a voluntary agreement that allows a borrower to hold on to certain types of debts that might otherwise have been discharged in bankruptcy. For example, if you are filing Chapter 7 and wish to keep a house or a car for which you don’t have much equity, you may use a…

When you file for bankruptcy, you gain protection under the “automatic stay,” which protects you from your creditors during the bankruptcy process. The automatic stay brings all collection efforts to a screeching halt. These include: Phone calls Letters Lawsuits Wage garnishments Repossession Foreclosure In most cases, the automatic stay remains active throughout the life of…

Declaring Chapter 13 bankruptcy can be a smart financial move, but it’s important to understand that there are actions you can and cannot take during the process.   Here are some “dos” and “don’ts” for Chapter 13.   Do: Seek Court Approval Before Selling Property   The court must approve all transfers for real estate,…