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Some unscrupulous debt collectors will just say anything to get you to reach into your wallet. This includes threatening you with jail. Yet in America, there are no such things as debtors prisons. There have been a few confusing news stories which might make it seem otherwise, but that’s just a simple fact. You cannot…

When debt collectors are dialing day and night it is easy to start feeling scared, pressured, and depressed. Some people ignore every letter and call, which can be dangerous in its own way because this strategy can lead to a lawsuit. But scrambling to pay debt collectors can be even more dangerous, especially if you…

A favorite tactic of debt collectors is to pressure you into taking money out of your retirement accounts to pay them off. Yet this is one of the worst financial moves you can possibly make.  Here’s why paying debts this way makes absolutely no sense at all. Almost all retirement funds are exempt in bankruptcy.…

Believe it not, you don’t have to file bankruptcy with your spouse if you don’t want to. Bankruptcy filing is associated with a social security number. That doesn’t mean your bankruptcy won’t touch your spouse, or your spouse’s financial life. Your social security numbers are listed in certain databases as associated numbers. You may have…

A bankruptcy exemption allows you to protect some of your property during bankruptcy. If you declare a Chapter 7 bankruptcy the trustee is usually allowed to sell off some of your property to pay off your debts. Exempt property isn’t touched. An experienced bankruptcy lawyer can make good use of exemptions to protect what matters…

If you owe money to friends or family members you’re hardly alone. Nearly 60% of Americans have lent monet to friends or family members. Yet if you don’t handle these debts correctly upon filing for bankruptcy you can end up in a lot of trouble. Here’s what you need to know. Friends and Family Members…

When you file for bankruptcy the court will schedule a “341 Hearing,” or a “meeting of the creditors.”  This hearing is a chance for your creditors to ask questions about your assets and liabilities, as well as your income and expenses. It’s an opportunity to confirm facts that you’ve stated when you filed your bankruptcy…

There are few things more frightening than being slapped with a debt collection lawsuit. If collectors are successful with their suit, they’ll end up garnishing your paycheck. Any creditor can try to garnish your paycheck. That means your employer gets a court judgment, which can threaten your job. Even if you keep your job it’s…