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Debt Relief Archives

Tips for avoiding home foreclosure

If a New Hampshire homeowner is in a grim financial situation that might lead to a home foreclosure, a variety of methods can be followed to avoid such an outcome. Because each method requires different resources and actions, homeowners should take their time and consider consulting a professional before making a final decision.

How to choose between debt relief and bankruptcy

New Hampshire debtors searching for a debt relief plan might want to consider bankruptcy. But before one goes down that route, there are other alternatives to consider. Each choice has pros and cons that should be weighed, and some options are better suited to different situations.

Filing for bankruptcy in New Hampshire

Many New Hampshire residents struggle to cope financially with a household income that barely covers their monthly expenses. An unexpected illness, injury or layoff may quickly lead to bills becoming unmanageable, and many families facing these challenges resort to using their credit cards to make ends meet. If you are in a situation like this, you likely know how difficult it can be to escape a cycle of debt. You may also be familiar with the relentless nature of debt collection agencies.

Student loan debt up 84 percent since 2008

New Hampshire residents with student loans are among those most likely to make timely payments according to the credit reporting agency Experian. Other states that scored well for student loan repayment in the September 2014 report were Vermont, Massachusetts, Minnesota and North Dakota. However, the credit agency also found that the level of student debt had risen sharply since the 2008 financial crisis, which has led to significant financial challenges for many Americans as they struggle to pay the loans that they took on in college.

Bankruptcy and discharge dates in New Hampshire

When seeking debt relief, it is important to understand that there is a difference between the filing date of bankruptcy and the date that the debt is discharged. For those seeking Chapter 7 bankruptcy, the debt is generally discharged four months after paperwork is filled out and the bankruptcy is approved. For those who seek Chapter 13 bankruptcy or must use Chapter 13 because they are not eligible for Chapter 7, it may take as many as five years for a debt to be discharged.

Millions of Americans have debt in collections

Those who live in New Hampshire may be surprised to learn that 77 million Americans have a debt that is currently in collections. While that number may seem high, there are many reasons why a person could have a debt in collections, and some counted in that number have good credit and may not even know about the debt. This is often the case with those who have medical debt because some people in that situation may assume insurance paid the bill.

Collectors seizing debtor assets through litigation

New Hampshire residents who are struggling with debt should be aware of a practice that appears to have grown substantially among debt collection agencies in recent years. This disturbing trend involves filing lawsuits against debtors with what experts believe is often a presumption that the debtors will never appear in court. Many consumers have reported to attorneys that they have been sued and received default judgments that froze their bank accounts, garnished their wages and set liens on their homes without ever having received notice that legal actions were in progress.

Collection agency sues wrong person over credit card debt

New Hampshire residents may be aware that the activities of debt collection companies are sometimes questionable. The tactics these organizations employ can border on harassment, and putting an end to such behavior is one of the reasons that people consider filing for bankruptcy. However, sometimes the individual being targeted by a collection agency does not even owe the debt.

When a stranger calls, the debt collection horror story begins

Several years ago, the horror movie “When a Stranger Calls” was released. Have you ever received a phone call or a letter from someone who says you owe them money for a debt, but you’ve never even heard of the company calling? That is likely because the original debt, if it even was your debt, has been sold to a company that buys debts for pennies on the dollar. The debt could have been credit card charges, medical debt or even student loans.

Debt consolidation scams have their red flags too

The sad truth in life is that there are some individuals that will take advantage of others that are less fortunate, less powerful or desperate. In other cases, these individuals just want to make a profit however they can. The Federal Trade Commission and the U.S. Department of Education warn those with student loan debts that they could become the target of a scam.

Start Your Case Today

Whether you have a family law issue, an estate planning question or are considering bankruptcy, I can help you find a sustainable solution that provides relief and hope. Schedule your consultation at my Nashua, New Hampshire office today by calling 603-635-4149 or by sending us an email.

We are a debt relief agency. We help people file for bankruptcy relief under the Bankruptcy Code.

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