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Bankruptcy FAQsWhat exactly is bankruptcy and will it wipe out all my debts? Bankruptcy is a federal court process designed to help consumers and businesses eliminate their debts or repay the debt under bankruptcy protection. What is the difference between chapter 7 and chapter 13 bankruptcies? Chapter 7 allows you to discharge most of the debts owed in return the bankruptcy trustee can take any property you own that is not exempt from collection. Chapter 13 bankruptcy allows you to file a repayment plan with the bankruptcy court to pay back all or a portion of your debts overtime. Can I change from one chapter of bankruptcy to another? In most cases, you can change a case to any other chapter for which you are eligible. When moving from one chapter to another you will need to keep aware of items you have acquired and whether those items will be considered property of the estate under chapter 7.  In a statistical study, consumer debt in the United States is estimated to be over 2 Trillion dollars. Credit card debt from consumers actually takes up over 700 billion dollars of the consumer debt in the United States.
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Two defendants have agreed to settle Federal Trade Commission charges for allegedly victimizing Spanish-speaking consumers nationwide by posing as debt collectors seeking
Two debt reduction companies and their principals have agreed to settle Federal Trade Commission charges alleging that they violated federal law by falsely claiming
A federal court has entered a final order against a Florida debt collection agency, its principals, and its attorney |
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