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Some creditor behaviors may be considered to be harassing

If you have delinquent debts, then you've likely received your fair share of harassing calls from collection agencies. What you may not be aware of is that there's a limit to how a debt collector can engage with you. If their interaction with you goes beyond a certain point, then they may be violating the Fair Debt Collection Practices Act (FDCPA).

Under this law, debt collectors are prohibited from engaging in oppressive, abusive or harassing behaviors.

5 things you should never put on your credit card

Access to a credit card can be both a good and bad thing. On the plus side, you don't have to immediately part with cash to make a purchase. Conversely, this makes it much easier to spend money on something you can't afford.

There are definitely times when it makes sense to use a credit card, such as when buying groceries or filling up your car with gas.

Can bankruptcy put an end to creditor harassment?

It doesn't take long to get in over your head financially. If you carry a balance on your credit cards, finance your vehicles and have a mortgage, those payments likely consume a significant portion of your pay every month. Getting into a car accident, suddenly falling ill or losing your job could mean going from making ends meet to drowning in debt.

Once you have missed a few payments, the creditors will start calling. They may call your home and your place of work. They will also probably send you letters with threatening language. In some cases, they may even show up at your home in an attempt to repossess your vehicle or serve you with notice of a pending lawsuit. Bankruptcy protections may help stop creditor collection efforts.

Famous people who have filed for bankruptcy

Celebrities are not immune from falling behind on paying their debts. One of the most recent examples involves Lil' Kim, who has accumulated over $1.47 million in back taxes. 

However, Lil' Kim is far from alone. Here are other famous people throughout the years who needed to file for bankruptcy to protect their homes and assets

How to prioritize credit-card debt

If you find yourself drowning in credit-card debt and searching for a solution, the best thing you can do is start at square one. For most, this means learning more about credit-card debt and understanding the steps you can take to make progress in paying it down.

In the event that you have debt spread across several credit cards, you'll first need to make a priority list. In other words, you should know which debt to tackle first.

Are there reasons to avoid Chapter 7 bankruptcy?

No one dreams of the day when they will file for Chapter 7 bankruptcy, as this means something has gone wrong in regards to your finances.

If you come to realize that Chapter 7 bankruptcy could help your financial situation, it makes sense to learn more.

What if you cannot find all of the documents for bankruptcy?

Like just about any legal proceeding, filing for bankruptcy requires that you have exhaustive documentation. For example, when you first meet with an attorney, ideally you will bring paperwork such as proof of income (workers' compensation, pay stubs, unemployment payments and the like), any notices about foreclosure and wage garnishment, bank statements, debt statements from each creditor and paperwork if any creditors are suing you.

At least, that is the recommendation. What if you are unable to come up with these documents and others? You should still be able to file, although the timeline will probably be stretched to allow time to track down all the documents.

Report: Average credit card debt low in Louisiana

Having credit card debt is very common here in the United States. How much such debt do people here in Louisiana tend to carry? Less than individuals from many other parts of the country, according to recent figures discussed in a Forbes article.

The figures regard the average per capita credit card debt levels of different states in 2017’s fourth quarter. They point to the average for Louisiana having been $2,440. This was the sixth lowest average in the country. In comparison, the nationwide average was $3,100 and the highest average of any state, held by Alaska, was $4,270.

Financial stress common in Louisiana

How stressed are people in Louisiana? Very, according to a recent report. And it appears financial stress is a major contributor to this.

The WalletHub report found Louisiana to be the most stressed state in the entire country. The rankings were reached through looking at factors in four different stress categories. These categories are: family-related stress, health- & safety-related stress, money-related stress and work-related stress.

Do you know the reasons to file for Chapter 7 bankruptcy?

You hope that your finances will always remain in good standing, but there could come a time when you have no choice but to think long and hard about Chapter 7 bankruptcy.

There are many reasons to file for Chapter 7 bankruptcy, including the following:

  • A fresh start: It's hard to start fresh in regards to your finances, but filing for Chapter 7 bankruptcy will allow you to do just that. It may not eliminate all your debt, but it will get you as close to "square one" as you have been in a while.
  • Power to keep future income: With Chapter 13, you have to use some of your future income to satisfy debts through a repayment plan. You don't have this requirement when it comes to Chapter 7 bankruptcy.
  • No limit on how much debt you can have: This is a big deal, as some people find that they have too much debt to qualify for Chapter 13 bankruptcy.
  • A fast process: It's hard to say exactly how quickly things will take shape, but a Chapter 7 bankruptcy discharge typically occurs within 60 to 90 days of filing.

McBride Law Firm

McBride Law Firm
301 Jackson Street Suite 101
Alexandria, LA 71301

Phone: 318-625-0471
Fax: 318-445-8066
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