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Credit Card Debt Increasing Fastest in Nevada

In August 2018, Experian, one of the nation’s three consumer credit reporting agencies, released the findings from a study of nationwide credit card trends. According to that study, credit card debt in the United States grew from $734 billion in the second quarter of 2017 to $782 billion in the second quarter of this year, an increase of about 6.6%. …

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Christmas Gifts and Bankruptcy

Last updated August 22, 2018. For many Americans, overspending is a holiday tradition. According to the National Retail Federation, the average American shopper expected to spend nearly $1,000 during the 2017 holiday season. And the actual results blew past the NRF’s forecast. The holidays have a way of making people spend more than they intended to, and for some, that means …

Can a Creditor Collect After Canceling a Debt?

When you are unable to pay a debt, the creditor can commence the collection process. This can take years and seriously damage your credit. From the debtor’s perspective, the harassing telephone calls and threats of litigation can be exhausting. From the creditor’s perspective, each state limits the time for collecting on the bad debt (called a statute of limitations), so …

Stopping Creditor Calls to Your Cell Phone

Being unable to pay your bills can make you feel powerless. Nasty letters and phone calls can ruin your day, especially when a collector calls your cell phone during work or while you are with friends. Fortunately, there are several consumer protection laws that can redistribute the balance of power and bring you some peace. One powerful protection is the …

Will my creditors still come after me if I file for bankruptcy?

Once you file for bankruptcy, you’ll likely see an immediate change in the activity of your creditors. This is partly because of the “Automatic Stay,” which forbids creditors from contacting a debtor directly (i.e., not through the debtor’s lawyer) once the bankruptcy case has been filed.  And partly because for some creditors it just may not be worth their time …

More Las Vegas Elders Are Filing Bankruptcy

A recent study by the University of Michigan School of Law has found that an increasing number of people over the age of 65 are filing for bankruptcy protection.  The study states that even before the financial meltdown of 2008, the percentage of older Americans filing bankruptcy had risen steadily, from 2 percent in 1991 to 4 percent in 2001 …