Jun 24, 2020 | Frequently Asked Questions About Debt Collection
Predatory lending is the practice of giving out loans and extending credit with high interest rates, high penalties for missed payments etc. especially targeting low-income, minority or young homebuyers, homeowners borrowing against home equity, or homeowners who are deeply in debt with mortgage arrears or tax liabilities. However, predatory lending can also encompass payday loan lenders, auto loan lenders and others looking to take advantage of desperate or uninformed consumers through fraud, deception, conspiracy, misinformation and abuse.
Lending scams can be very subtle, complex and difficult to detect. If you didn’t get what you expected out of a loan or are getting assaulted with fees, you should consult with one of our attorneys.
Learn more about your rights and Consumer protections available to you
May 23, 2020 | Frequently Asked Questions, Frequently Asked Questions About Student Loans
While both private and government student loans are protected from elimination in Chapter 7 bankruptcy proceedings, Chapter 11 and Chapter 13 bankruptcy allows for the restructuring and consolidation of student loan debt into affordable monthly arrangements.
Read more about the Options available for Student Loan Debt
May 23, 2020 | Frequently Asked Questions, Frequently Asked Questions About Bankruptcy, Frequently Asked Questions About Debt Collection, Frequently Asked Questions About Debt Relief
Consumers can sue creditors who have violated consumer protection and fair debt collection laws. Unlike other attorneys, we are not afraid to file suit against creditors who violate your legal rights.
Read more about How You Can Prevent Debt Collectors from Harassing You
Mar 15, 2020 | Frequently Asked Questions About Debt Consolidation
In our many years of experience, we’ve found that there are two types of credit consolidators: bad and really bad. These companies are essentially collection agencies for your creditors. They make empty promises to people facing overwhelming debt obligations, often promising to settle their debts for pennies on the dollar. They then collect monthly payments from struggling Connecticut residents who can ill afford to lose them to plans that offer no true solutions, led on by false promises and mirage solutions.
Read more about What Options are available to get rid of Debt
Mar 15, 2020 | Frequently Asked Questions About Debt Collection, Frequently Asked Questions Other
YES. Stopping automatic deductions to creditors as part of an overall plan, provides you a chance to re-gain control of your personal finances.
When increasing debt is significantly affecting your emotional health and financial well-being, automatic payments on your loans/debt may no longer be beneficial or even feasible. Automatic payments can promptly lead to decreased assets, bounced checks and other excessive charges that actually prevent a solid approach to financial solutions, and make your life feel completely out of your control. It takes experienced overall strategic financial planning to achieve permanent success. Automatic payments can accelerate the downward spiral of your finances in a hurry.
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Mar 15, 2020 | Frequently Asked Questions About Student Loans
Student loans are typically much more difficult to discharge in bankruptcy than other types of debts, such as medical bills or credit card balances. However, many people struggling with student debt are still able to find relief through bankruptcy by eliminating other debts, thereby making their educational loan payments more manageable.In addition, while student debts are rarely eligible for discharge during Chapter 7 “liquidation” bankruptcy, educational loans are treated similarly to other debts during Chapter 13 bankruptcy, which is also known as debt reorganization.
During Chapter 13 bankruptcy, a person’s debts are restructured and a payment plan is created that allows the borrower to pay off the highest priority debts over a period of a few years. For some people struggling with student loans and other debts, reorganization offers a way to catch up on missed payments and get back on track, while also protecting against foreclosure and other collection actions.
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