Debt Law

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Although an individual can file for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, both types involve the same four steps, according to Money Crashers. These steps include providing a financial inventory, receiving credit counseling, attending a creditors' meeting and completing post-bankruptcy credit counseling. Most bankruptcy cases are handled through paperwork rather than court attendance.

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  • What happens to debt when a person moves out of the country?

    Q: What happens to debt when a person moves out of the country?

    A: The results of moving out of the United States and leaving debt behind vary from lawsuits filed on behalf of the debt holder to poor credit for the debtor. Depending on the length of time out of the country, there may be no result.
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  • What is life like after bankruptcy?

    Q: What is life like after bankruptcy?

    A: Life after bankruptcy includes a new financial beginning and some challenges. Bankruptcy stays on a credit report for 10 years, which limits credit options, according to Bankrate. Lenders sometimes view individuals who filed bankruptcy as too risky because some past debts were written off. As a result, individuals who filed bankruptcy may not be issued a credit card for some time.
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  • What happens during bankruptcy?

    Q: What happens during bankruptcy?

    A: Although an individual can file for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, both types involve the same four steps, according to Money Crashers. These steps include providing a financial inventory, receiving credit counseling, attending a creditors' meeting and completing post-bankruptcy credit counseling. Most bankruptcy cases are handled through paperwork rather than court attendance.
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  • What is a good bankruptcy score?

    Q: What is a good bankruptcy score?

    A: The lower a bankruptcy risk score, the better. According to Bankrate, bankruptcy risk scores range from negative numbers to 2,000. While these scores are hidden from consumers, businesses use them to decide whether to extend credit to a customer.
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  • Q: Where do you find some sample letters to a stop collection agency?

    A: Several financial and legal websites offer sample letters to stop a debt collection agency, including RocketLawyer.com and TateEsq.com. These letters illustrate the process of writing a letter to instruct the collection agency to stop contacting the debtor due to one reason or another.
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  • Q: How do you respond to a lawsuit for debt collection in Texas?

    A: Defendants served with a debt collection lawsuit should respond by obtaining a consumer lawyer if the debt specified in the case is significant, according to the Law Offices of Robert J. Nahoum. The individual being sued should also compile a short statement addressing each allegation in the complaint.
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  • Q: What are the repossession laws in Arkansas?

    A: In Arkansas, lenders are given certain rights to ensure they continue to receive payments. One major right lenders are granted is the ability to take back any goods that have a loan in default, according to Credit Info Center. A loan defaults if there is a failure to make payments as agreed upon.
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  • Q: How often can you file Chapter 7?

    A: People may file for Chapter 7 bankruptcy eight years after filing a prior Chapter 7 case or six years after filing a prior Chapter 12 or 13 case, according to Lawyers.com. Chapter 7 bankruptcy is generally used by low-income debtors who have little or no assets.
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  • Q: What are the rules regarding wage garnishment?

    A: Title III of the Consumer Credit Protection Act, or CCPA, protects an employee from termination for a wage garnishment order to repay one debt, according to the U.S. Department of Labor. The CCPA also limits the amount of earnings that can be garnished in one week.
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  • Q: What California laws relate to car repossession?

    A: Vehicles in California can be repossessed after a default in the contract of just one day, including a missed payment or a lapse in car insurance, according to attorney Jay S. Fleischman. Car finance companies and a registered repossession company can take away a vehicle.
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  • Q: What are some famous court cases that involve black farmers who were denied loans?

    A: In 1997, a group of black farmers filed a successful class action lawsuit against the U.S. Department of Agriculture, alleging that it had practiced racial discrimination in denying them loans, according to Grist.com. The court decision in the case of Pigford vs. Glickman is available at FindLaw.com.
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  • Q: How can you get debt relief through CareOne?

    A: CareOne offers debt relief by developing debt management plans and settlement agreements between debtors and creditors designed to restructure or resolve unsecured debt, notes CareOne Credit Counseling. Credit counselors are instrumental in negotiating with creditors depending on a debtor’s specific financial circumstances.
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  • Q: What are some ways to get federal debt forgiven?

    A: Federal debt can be forgiven in certain circumstances under different categories of forgiveness, discharge and cancellation that include permanent disability (TPD) discharge, death discharge, discharge in bankruptcy, false certification of student eligibility or unauthorized payment discharge, unpaid refund discharge, teacher loan forgiveness, public service loan forgiveness and Perkins loan cancellation and discharge, according to Federal Student Aid. Direct loans, federal family education loan (FFEL) program loans and Perkins loans are all the types of loans that may be dismissed under their appropriate forgiveness categories. Borrowers must contact their loan servicers, or have attended schools for Perkins loans recipients, to see if they qualify.
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  • Q: Is it possible to file for bankruptcy for free?

    A: Filers may be able to file for bankruptcy without any fees by either foregoing a lawyer or obtaining free legal help and by receiving a court waiver for the filing fees, according to the United States Courts website. Filers can view a full list of bankruptcy fees on the U.S. Courts Bankruptcy Court Fees webpage.
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  • Q: Where can you find Chapter 7 bankruptcy forms to print?

    A: Chapter 7 bankruptcy forms are available to print at the United States Courts website. Users have the option of either printing out blank forms to be completed by hand or completing the forms online to print out and file with the court. The forms required to file for Chapter 7 bankruptcy are often collectively referred to as a bankruptcy petition, according to the NOLO website.
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  • Q: How long does a Chapter 7 bankruptcy take to discharge?

    A: The court usually grants a discharge in a Chapter 7 bankruptcy four to six months after the petitioner first files the case with the clerk, states Nolo. The time varies according to individual case circumstances and by local jurisdiction processing times.
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  • Q: What is a Georgia electronic data interchange payment?

    A: A Georgia electronic data interchange payment is a payment the state or its agent sends or receives electronically using a computer software system, states Blue Cross and Blue Shield of Georgia. The Georgia Department of Revenue has mandated use of the EDI system, notes its website.
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  • Q: How do you eliminate calls from I.C. System collection agency?

    A: Eliminate calls from I.C. System collection agency, or any other debt collector, by advising the company the preferred method of communication is through writing, About.com notes. Debtors can also send the collection agency a cease and desist letter, which advises the collection agency that all communications with the debtor must be stopped. Written communication works in the debtor's favor by providing proof if the debt collection agency somehow violates the law. Cease and desist letters only apply to collection agencies.
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  • Q: How long does it take to file chapter 13 bankruptcy?

    A: It takes approximately two to four months to complete the filing of Chapter 13 bankruptcy and begin a structured payment plan in accordance with the findings of the bankruptcy court, according to U.S. Courts. The amount of time required for this remains within certain limits dictated by the court, but variations occur due to the fact that this type of bankruptcy is a restructuring of debt and consists of a dialogue between the court, creditors and the debtors in question.
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  • Q: What are the repossession laws in Pennsylvania?

    A: Pennsylvania law allows lenders to repossess property in which they have a security interest if the debtor falls behind in payments, according to the Pennsylvania Legal Aid Network. For lenders to take this action, there must be a written security agreement and it must be possible to peacefully repossess the property.
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  • Q: Is there a way to stop debt settlement legal letters from being sent to employer?

    A: To stop debt-settlement legal letters from being sent to an employer, the person must make that request in writing to the collection agency sending the letters, notes Credit.com. By law, once the request is made to stop settlement and collection letters from being sent, the collector must abide by that request. The debtor can also advise the debt collector by phone that he wishes communication with the employer to cease.
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