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When to consider filing for bankruptcy

If you are like a multitude of other Americans, the day may come when you find yourself facing overwhelming debt and begin asking yourself whether filing for bankruptcy could provide you with some sense of relief. You may, too, like many others, feel hesitation in taking the next step, whether because you feel there is a stigma attached to filing, or for another reason entirely.

Can you qualify for a Chapter 13 bankruptcy?

If you are among the many Americans facing overwhelming debt, you may be considering filing for bankruptcy. Most people filing for personal bankruptcy do so through either Chapter 7 or Chapter 13 bankruptcy, depending on their level of income, and there are some important distinctions between the two. In a Chapter 13 bankruptcy, for example, you may be able to hang on to certain assets, such as your home or your car, if you are currently earning income. However, you must meet certain criteria to be eligible for filing.

3 things to know about student loans and bankruptcy

College often seems like a one-way ticket to a promising career, higher earnings and a secure future. For many people, however, this is not the case. For students who do not complete their degrees or graduates who cannot land high-paying jobs, the lingering student debt can easily become stifling. You might be wondering whether bankruptcy is an option in addressing the problem.

If considering bankruptcy, do not make this one big mistake

At any given moment, many people are considering bankruptcy. They do so for a variety of reasons, such as job loss, medical debt and crippling credit card bills. However, some feel tempted to dip into one last account, their retirement account, before they meet with an attorney.

When do debt collection calls become harassment?

Getting constant calls from debt collectors in Louisiana can really take its toll. You may even receive them at work or they may call your relatives, trying to get information about you. It can be a very frustrating situation. Even if you know you owe the debt, you still do not have to put up with harassment. Luckily, the federal government recognizes that debt collection tactics can border on harassment. There are specific guidelines in place to ensure this does not happen.

The dangers of payday loans

If you have ever found yourself in a position where you need more cash on hand, you might have felt tempted to utilize a payday loan. Payday loans are small cash loans you can secure ahead of your paycheck, as long as you agree to repay the loan once you receive your next paycheck.

How to stop creditor harassment

Debt collectors may not always employ the most honest of practices. In fact, some of the practices got so bad that federal government enacted the Fair Debt Collections Practices Act. The Federal Trade Commission has information about what constitutes abuse and how creditors are allowed to contact people in debt. 

What debt collection practices are illegal?

Having a large amount of debt is undeniably overwhelming, and if you are among the many Americans who are finding themselves in this position, know that you are not alone. Medical bills often have the capacity to catapult even the most financially responsible people into uncomfortable situations, and the discomfort can be amplified by debt collectors who rely on aggressive methods to try and collect on your debts.

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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