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Impact of Collection Agency Letters on Debtors

Nexa Collect

They might try to settle the debt for a lesser amount, or establish a payment plan that allows them to pay off the debt over time. Seeking Legal Advice or Help : A collection letter may prompt some debtors to seek advice from a lawyer or a credit counseling service.

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What Is the Difference Between Chapter 7, 11, and 13 Bankruptcies?

Credit Corp

It’s typically a good idea to consult an experienced bankruptcy lawyer before you file a bankruptcy petition. Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Definitely talk to your bankruptcy lawyer about which property you want to keep and whether it’s possible.

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Bankruptcy Chapter 7 vs 13: Which Is The Best Option?

Debt Free Colorado

While debt is not eliminated , it is significantly reduced. Complete protection from creditors – This includes wage garnishment and debt collection. Classification of obligations – Define the difference between debts incurred with a third party and those incurred with oneself.

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Freedom Debt Relief Sued for Misleading Consumers

Debt Free Colorado

If you have used the services of Freedom Debt Relief, you’ll want to keep an eye on this lawsuit as you may be entitled to damages. If you’re considering hiring Freedom Debt Relief or another debt settlement or debt consolidation provider, perhaps it’s time to reconsider. Source: [link].