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When someone incurs debt, it is very common to have a co-signor, or co-debtor, on that loan. If the person paying the loan defaults, the creditor can seek the balance from the primary debtor or the co-debtor. If one of the two seeks debt relief in bankruptcy, what happens to the other debtor?

On July 9, 2013, the Federal Trade Commission (FTC) fined Expert Global Solutions, the world’s largest debt collection agency, $3.2 million for violating the Fair Debt Collection Practices Act (FDCPA). The FTC’s complaint, which you can read here says that Expert Global Solutions called consumers multiple times each day, morning and night, even when consumers asked them to stop.

NO, not if you filed in the Middle District of Alabama.

Myth #1: I can never get credit again

My clients often look at me confused when I mention the presumption of abuse to them when we are reviewing their Means Test.  The presumption of abuse guidelines was established in 2005 when Congress enacted the Bankruptcy Abuse Prevention and Consumer Protection Act of 2005 (BAPCPA).  One of the primary reasons for this Act was to make it more difficult for consumers who made too much money to be able to file a

Recently, NerdWallet Health published an article that estimates that 56 million Americans under the age of 65 will struggle with medical debts in the year 2013. Astonishingly, NerdWallet stated that one in five American adults will struggle to pay medical debts this year. The article further stated that medical bills are the leading cause of personal bankruptcy.

If you have a high rate of interest on loans, a Chapter 13 Bankruptcy can reduce the interest rate resulting in a much lower monthly payment.  This is called a “cramdown.”  The interest rate unsecured creditors such as credit cards, finance company loans,

Despite what most people think, considering the current economy, bankruptcy filings are actually down nationwide. One would think that with the high rate of foreclosures, job losses, sequestration and cut backs that more people would have a need to file bankruptcy.