Student loan debt and bankruptcy: a proposal for change
It’s been a few months since we last wrote about student loan debt. As we explained in our May 24 post, the general rule is that this type of debt is not dischargeable in bankruptcy. The only exception is in cases of “undue hardship,” and courts do not readily grant that exception. It is becoming […]
Some debt relief schemes are too good to be true
By itself, debt is not always a bad thing. Sometimes, consumers have to assume debt in order to finance major purchases, such as a home or vehicle. At the same time, however, a person can become overwhelmed by their financial obligations, which may require debt relief. Although there are numerous ways to unload tremendous debt, […]
Drain a 401(k) to deal with debt? Bankruptcy may be better option
People who are struggling with debt often consider taking some money out of their retirement accounts in order to keep creditors at bay. Debtors often believe they must do everything they can to pay their bills now, even at the cost of raiding their retirement funds. To a degree, this is understandable, especially if creditors […]
Debt Consolidation 101: Brush up on what you know (or don’t know
In our Bexar County law office, we help people who have found themselves in financial quicksand. They know they need to get out, but they cannot seem to do it on their because their strongest efforts just seem to amount to fruitless thrashing. To take the analogy further, we aspire to be the guy standing […]
Fair Debt Collection and the Automatic Stay in Bankruptcy
If you are in need of debt relief, someone may have told you about something called the “automatic stay” – a type of immediate relief that a bankruptcy filing can bring. This post will describe some of the ways this relief can help protect you against debt collection efforts. First of all, it’s worth noting […]
Beware of Debt Collectors Who Try to Collect Old Debts
Debt collectors don’t get to do whatever they want. There are rules they are supposed to abide by – starting with the Fair Debt Collection Practices Act. Credit card harassment and other illegal tactics are therefore not acceptable. And they are still widespread. Last year, the Federal Trade Commission received a record number of complaints about the tactics used […]
Feds Investigate ‘Robosigning’ in Credit Card Debt Collection
“Déjà vu all over again” is a phrase commonly attributed to the baseball great Yogi Berra. It can apply in many contexts – most recently in allegations of widespread improper conduct by credit card debt collectors at JP Morgan Chase. To a consumer bankruptcy attorney, this seems a lot like what Time magazine called “robosigner […]
Debt Collection Actions for Medical Bills Take Toll on Consumer Credit
In the wake of the Great Recession, the number of Americans being contacted by debt collection agencies has increased markedly. In 2005, before the recession, debt collectors contacted 22 million people about medical bills alone. By 2010, this had increased to 30 million, according to a When you talk to a consumer bankruptcy attorney, you […]
Social Media Sites and Bankruptcy
Social Media sites have changed more than just the way we socialize. Sites like Facebook and Twitter have recently helped given leads on wanted individuals and have assisted in arrests. Not only have law enforcement turned to social media to help unveil the secret lives of persons of interest, but lawyers are now using the […]
The Facts About Debt Collectors
Debt collectors can be harsh, and if you are on the verge of bankruptcy they can be brutally harassing you day in and day out. Did you know that debt collectors have to follow a set of guidelines with respects to the Fair Debt Collection Practices Act? Did you also know that if you file […]