Debt Settlement and Your Taxes

Debt settlement ads are very attractive to individuals struggling with debt. The promise is to reach an agreement you can afford to pay. The debtor agrees to pay a percentage of the debt (usually in a lump sum), and the creditor agrees to release the remaining obligation. Sounds simple, right? Unfortunately, many times the debtor will receive a nasty surprise …

Las Vegas Debt Collection and Your Rights

Debt collectors can be ruthless. Persistent telephone calls at home and work, embarrassing letters in red envelopes, calls to friends and family, and even public posts to your Facebook account are all dirty tactics that debt collectors employ to harass you into paying. Fortunately, there are laws that protect you from unlawful creditor harassment. The Fair Debt Collection Practices Act, …

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 …

Las Vegas: When Paying Your Debts Can Cause Trouble

Many tough decisions are made when a family is struggling with debt.  Often debts are paid according to priority.  Those bills at the lowest priority may not get paid at all.  While this may be a good strategy under ordinary circumstances, it may back-fire when a bankruptcy is imminent. The act of paying one creditor while ignoring another is called …

Debt collector scam defies belief

Las Vegas may be the “foreclosure capital” of the U.S.  But Erie, PA may now be the country’s “bizarre debt collector scam capital.” Apparently, a debt collection company called Unicredit, Inc. (also known as “Unicredit Debt Resolution Center”) decided it would be more effective in its efforts if it set up its office to look like a court.  Everything from …

Las Vegas, which is better bankruptcy or debt consolidation?

Many of our Las Vegas clients ask us if they should try consolidating their debt through a debt consolidation company instead of filing bankruptcy. We advise against debt consolidation. Here’s what debt consolidation allows you to do:  You can combine all of your credit card debt, car loans and other consumer loans into one single lower-interest loan.  The idea is that you’ll …