5 Steps to Take When You Don’t Recognize Debt
What to Do When You Don’t Recognize Debt Creditors and debt collectors commonly contact consumers who fall behind in making debt payments. Sometimes, however, creditors may contact the wrong person about an outstanding debt. Other times, scam artists can pose as debt collectors to try to get personal information from consumers in order to commit identity theft. In the event you are contacted about a debt that you don’t recognize, taking the following steps is generally the best way to protect yourself, your personal information and your financial resources: Identify the debt collector – By law, debt collectors [...]
Tax Identity Theft Awareness Week Kicks Off Next Week, FTC Announces
Tax Identity Theft Awareness Week Kicks Off Next Week, FTC Announces From Jan. 25th through 29th, the Federal Trade Commission (FTC) – in partnership with the Internal Revenue Service (IRS) – will be sponsoring Tax Identity Theft Awareness Week to inform consumers about: What tax identity theft is How to reduce their risk of becoming a victim of this type of identity theft What can be done if a thief has stolen their refunds. How Tax Identity Theft Occurs Tax identity theft typically starts in the same way as other forms of identity theft: a consumer’s personal information [...]
5 Ways Delaying Bankruptcy Can Majorly Cost You
How Delaying Bankruptcy Can Majorly Cost You Managing debt is part of life for many people. When that debt becomes overwhelming and unmanageable, however, ignoring the problem – and putting off bankruptcy or other debt relief options – can be ruinous. That’s because debt won’t disappear and creditors will become increasingly determined to collect the monies owed to them. Overtime, if borrowers don’t pursue debt relief help and their debt continues to snowball, the actions that creditors and debt collectors may take to try to collect outstanding debts can become more severe – and can cost borrowers significantly. [...]
4 Financial Mistakes to Avoid in 2016
Financial Mistakes to Avoid in 2016 The New Year is almost here. While many people may be scrambling around to get ready for a festive New Year’s Eve celebration tonight, others may be considering their resolutions – and what they want to focus on improving in 2016. If you are among those who are focused on achieving a better financial outlook in the New Year, here are some mistakes to avoid because they could sabotage your efforts. Financial Mistakes to Sidestep in the New Year Failing to manage expenses – Do you know how much you spend on [...]
Red Flags to Beware of When Shopping for Debt Relief Services
A Denver bankruptcy attorney explains the warning signs of debt relief scams. Turning to a professional for help getting out of debt can be a smart decision when you are no longer able to pay your bills and/or when your debt seems to be growing regardless of your efforts to reduce it. After deciding to get professional debt relief help, however, the next important decision will be what service or professional to trust and work with moving forward. And this choice can be pivotal to whether you are able to obtain the financial fresh start you need – [...]
4 Common & Unexpected Sources of Debt that Can Sneak Up on Consumers
Commonly overlooked sources of debt Unemployment, poor management of credit cards and even divorce can push people into serious debt. In some cases, however, debt can come from unexpected sources – even some that may present themselves as opportunities. And knowing how and when these more surprising sources of debt can arise can help you avoid getting caught in a debt trap that may be very difficult to climb out of later. Subtler Sources of Debt A new home – Of course, buying a home comes with mortgage debt, which is to be expected. Where debt can start [...]
What to Bring to a Meeting with a Bankruptcy Lawyer
When you are ready to get professional help getting out of debt, meeting with a bankruptcy attorney to figure out your next best steps can be a good move. And, if you really want to make this meeting as productive and helpful as possible, preparing the following items to bring with you can help you get more specific answers about your options for proceeding: What to Bring to a Meeting with a Bankruptcy Lawyer Information regarding your debt obligations, including (but not necessarily limited to): A recent copy of your credit report Mortgage loan documents Vehicle loan documents [...]
Did You Know these 4 Things that Can Damage Your Credit?
Did You Know these 4 Things that Can Damage Your Credit? Your credit report and credit score can impact your buying power and borrowing opportunities. For those who are preparing to make larger purchases (like homes or motor vehicles), improving their credit or maintaining good credit can be essential to qualifying for a loan (or qualifying for optimal rates). For others, working on having better credit may be part of a bigger effort to overhaul their finances and improve their overall financial situation. Regardless of why you may be focusing on your credit, knowing what actions can impact [...]
4 Essential Facts to Know about Colorado Payday Loan Laws
The facts about Colorado payday loan laws When money is tight and sudden expenses come up, some people may consider taking out a payday loan to help them get by until their next influx of funds. Although payday loans can be helpful in limited circumstances, however, they can also cause big problems for some people struggling with debt, possibly causing that debt to snowball out of control. To help you make an informed decision regarding payday loans, below, we have pointed out some of the most important facts to know about Colorado payday loan laws. Colorado Payday Loan [...]
Can Bankruptcy Stop Wage Garnishments?
As long as a garnishment hasn’t gone into effect, yes, filing for bankruptcy can stop it, a Denver bankruptcy attorney explains. Here’s why. Whether or not bankruptcy can stop wage garnishments will depend on whether the garnishment has already gone through. Specifically, when people file for bankruptcy, a court injunction known as an automatic stay will immediately go into effect. The automatic stay will halt creditors from taking any additional action against bankruptcy petitioners – and this includes wage garnishments. So, if creditors have been threatening to garnish someone’s wages and that person files for bankruptcy before the [...]
