How to Deal with Debt Collectors (Part 2)
While these tips on how to deal with debt collectors can help borrowers avoid being or feeling harassed by creditors, they can also help borrowers protect their rights. As a continuation of How to Deal with Debt Collectors (Part 1), the following is some further advice regarding what borrowers can do to empower themselves when dealing with debt collectors. While these tips on how to deal with debt collectors can help borrowers avoid being or feeling harassed by creditors, they can also help borrowers protect their rights. Dispute the debt if you think it’s inaccurate: If you are [...]
How to Deal with Debt Collectors (Part 1)
It’s important that borrowers know how to deal with debt collectors so they can avoid being or feeling harassed and can focus on getting their finances in order. Owning money on multiple debts that may not immediately or readily be able to make payments on can be both embarrassing and stressful, particularly if the debt collectors are regularly calling you and/or sending you letters trying to collect on the debts owed. While you may want to take the ostrich route and hide your head in the sand to avoid creditors, this can only backfire and create greater problems [...]
Tips on Reducing Medical Debt to Avoid Bankruptcy (Part 2)
Trying to negotiate with medical billing offices or working with a debt relief professional are effective ways of reducing medical debt to avoid bankruptcy. As a continuation of Tips on Reducing Medical Debt to Avoid Bankruptcy (Part 1), the following is some additional advice regarding what you can do to minimize the amount of medical debt you accumulate while still obtaining the medical care you need. Compare treatment costs against Medicare rates – According to a recent survey on the costs of medical treatments, the government pays approximately 70 percent less for medical services than the general public. [...]
Tips on Reducing Medical Debt to Avoid Bankruptcy (Part 1)
It’s important that individuals are aware of some of the things they can do to try to reduce their medical debt while still getting the health care they need. Medical debt is one of the leading causes of bankruptcy filings in the U.S. (along with divorce and unemployment). In fact, many Americans are currently uninsured or underinsured because they are out of a job and simply can’t afford to pay for healthcare coverage. In the event these individuals are seriously injured or develop a serious illness, they can be harpooned with extremely expensive medical bills that can wipe [...]
The Stages of Debt Delinquency and How to Avoid Them (Part 3)
To avoid the vicious cycle of debt delinquency, contact an experienced Colorado debt relief lawyer who is experienced at dealing with creditors directly. Concluding the three-part blog The Stages of Debt Delinquency and How to Avoid Them, the following outlines the final stage of the vicious debt delinquency cycle, as well as what borrowers can do to stop the cycle, protect themselves and achieve a financial fresh start. Final stage of delinquency: Creditors take legal action against you – If creditors have not been able to get a hold of you, and no resolution has been achieved in [...]
The Stages of Debt Delinquency and How to Avoid Them (Part 2)
As the cycle of debt delinquency progresses, creditors may write off the debt as bad debt, and aggressive third-party creditors may take over in trying to collect on the debt. As a continuation of The Stages of Debt Delinquency and How to Avoid Them (Part 1), the following provides additional information regarding how debt delinquency can progress and harm borrowers. While Part 1 of this blog discussed the first two stages of the debt delinquency cycle, here in Part 2, we will focus on discussing the final stages of delinquency. After the first and second stages of debt [...]
The Stages of Debt Delinquency and How to Avoid Them (Part 1)
This outline of the stages of delinquent debt can show how slippery the slope of delinquency can be, as well as what can be done to stop the cycle of delinquency before it’s too late. With the slow, unpredictable nature of the economic recovery, as well as the fact that many people are still having a difficult time getting a job, it’s not uncommon for people to fall behind in paying their bills and face the danger of delinquency. Delinquency, also referred to as debt delinquency, is the state of being in arrears of paying a debt. The [...]
Business Taxes in Colorado
Business taxes in Colorado can be complicated to calculate, as there are a number of additional factors that business owners have to consider when filing corporate income taxes. Business taxes, also referred to as corporate taxes, in Colorado can be far more complicated to calculate as than individual income taxes, as there are a number of additional factors that business owners have to consider when filing corporate income taxes each year. Specifically, business taxes can involve sales taxes, unemployment insurance taxes and property taxes on any residential or commercial property owned by the business. Methods for Calculating Corporate [...]
An Overview of Ponzi Schemes (Part 1)
Ponzi schemes are a type of investment fraud in which investors are paid by other investors’ capital, rather than by what they believe to be their investment in some commodity. Ponzi schemes are a specific type of investment fraud in which: Investors are deceived into believing that they are investing their money into some stock or commodity when, in fact, they are not. Investors are enticed into investing in the scheme by being promised extraordinarily high or abnormally consistent returns on their investment. Investors in the scheme are paid out by subsequent investors’ capital. A stream of new [...]
Small Business Bankruptcy: An Overview (Part 2)
Chapter 11 bankruptcy for small business may be the best option when business owners want to continue operating their business during and after the bankruptcy case. Picking up from Small Business Bankruptcy: An Overview (Part 1)¸ the following provides an overview of the bankruptcy options for small businesses that are struggling with debt. Part 1 of this blog laid out some of the specific factors that need to be considered when choosing which bankruptcy option is most appropriate for a small business; it also provided some information regarding Chapter 7 bankruptcies for small businesses. Here, in Part 2, [...]
