OVERLOOKED CAUSES OF FINANCIAL DISTRESS
Our website at Leiden & Leiden has previously described the most common causes of financial distress which may lead to bankruptcy. Among those causes are divorce/separation, unemployment/underemployment, health issues and mismanagement. However, there are other, less common causes of financial distress that we have noticed in our consultations with CSRA residents which can trigger a […]
Ten Mistakes Financially Stable Consumers Make Which Can Lead to Bankruptcy
The common misconception of the debtor in bankruptcy is an individual who was reckless in borrowing, and irresponsible in paying back their debts. While mismanagement and over-extension are present as causes in some bankruptcy cases, even the most well-intentioned consumers who have built up their credit and amassed a tidy savings can still wind up […]
Update on Debt Collection Scams
Previous articles here on the bankruptcy blog have discussed consumers’ rights under the Fair Debt Collection Practices Act (“FDCPA”) and the Do’s and Don’ts of Dealing with Collection Agencies. However, here in Augusta GA, we’ve noticed that some collection agencies have become more aggressive in how they collect debts. Additionally, there are other scammers who […]
What to Know When Negotiating a Settlement with a Creditor
There may be certain circumstances when a consumer does not need a bankruptcy filing, especially if they are only concerned about a few specific debts. Given that is tax refund time, many consumers may have suddenly cash available to satisfy old debts that have gone to collection. In the alternative, an individual may seek assistance […]
A Glimpse into the World of Modern Debt Collection and the Unfortunate Debtors Who are Targeted
Consumer debt collection is a highly profitable industry. This New York Times magazine article excerpt by Jake Halpern gives a glimpse into the dark world of debt collection: http://www.nytimes.com/interactive/2014/08/15/magazine/bad-paper-debt-collector.html?_r=1
Debt Collection Statistics Released: Common Reasons for Debts to Go into Collection
A recent study concluded that one out of every three adult Americans has at least one debt that has been turned over for collection. However, Georgia had one of the highest rates, with 40% of its adult residents having at least one collection account. Other blogs on this site have discussed how to handle collection […]
Student Loans and Collection Agencies: A Match Not Made in Heaven
This site has already addressed several issues with respect to student loans, and collection agencies. However, a greater portion of student loan lenders are now utilizing private collection agencies to recover on defaulted student loan debt. This includes both private and governmentally guaranteed student loan debt, and collection agencies are eagerly seeking to undertake collection […]