The Most Common Causes Of Bankruptcy And Why It Does Not Matter

Does it matter why you filed bankruptcy? Helping with Bankruptcy and Debt Reduction in Pierce County and Tacoma Washington 1. Medical Expenses A study done at Harvard University indicates that this is the biggest cause of bankruptcy, representing 62% of all personal bankruptcies. One of the interesting caveats of this study shows that 78% of…

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Debt Collectors Bully and Lie

What happens when a debt collector lies? Pierce County and Tacoma, Washington Bankruptcy Lawyer Discusses Handling Debt Collectors The Associated press reports that the country is facing an epidemic of unscrupulous debt collectors willing to pose as law enforcement and threaten arrest to squeeze dollars out of Americans, a top prosecutor said Tuesday as he…

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Payday Loans Create Long-Term Problems

Why Pay-Day Loans Create Financial Problems Tacoma and Pierce County Bankruptcy Attorney The March, 2014, report issued by the Consumer Financial Protection Bureau indicates that consumers’ use of payday loans often turns into a long-term problem. Key findings of this report include: Over 80% of payday loans are rolled over or followed by another loan…

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What Happens at Your Court Hearing?

Tacoma and Pierce County, WA Bankruptcy Court Hearing Lawyers When you file for a fresh start under the bankruptcy laws, you, together with your attorney, are required to attend a meeting with the Bankruptcy Trustee. The Trustee is a local attorney who is appointed by the court to review the bankruptcy schedules that have been filed…

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What Debts Go Away in Bankruptcy?

Bankruptcy and Debts Explained by a Tacoma and Pierce County Bankruptcy Attorney Chapter 7 personal bankruptcy laws allow Americans who are overburdened by bills to have many types of debt legally discharged; they are simply wiped away and you are provided with a fresh financial start. Most debts included in a bankruptcy proceeding can usually be…

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Why Seattle-Tacoma Residents Should Be Careful with Debt-Relief Companies

The Washington State Attorney General has forced a debt-relief company to refund more than $740,000 to nearly 600 consumers. “Freedom Debt Relief,” a California company, was accused by the Attorney General’s office of breaking consumer protection laws. “Freedom Debt Relief” told the financially strapped Washington state residents they would get a payment plan and negotiated…

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Despite Better Employment Rate, Why Bankruptcies Remain High

There is considerable hope and talk about an improving economy. Certainly, let’s hope it gets better. Unfortunately, the number of bankruptcy filings continues to increase so far in 2011. Consumer bankruptcy filings jumped another 11 percent in Feb. 2011 over the previous month, according to the expert National Bankruptcy Research Center and the American Bankruptcy…

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Major Bank Changing Deficient Foreclosure Procedures after U.S. Probe

A major bank has suspended its foreclosures on property owners following a federal investigation for technically deficient reasons. HSBC Holdings PLC, a Lond0n-based bank, put a moratorium on its foreclosures as the result of a U.S. government probe by two agencies: The Federal Reserve Board and the Office of the Comptroller of the Currency. This…

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How Home-Loan Modification Plan Works with Chapter 13 to Relieve Stress, Stop Foreclosure

Homeowners have the opportunity to combine loan modifications under the Obama Administration’s HAMP (Home Affordable Modification Program) with Chapter 13 plans that can eliminate or greatly reduce most other debts. This strategy was made much more feasible by recent changes in the mortgage modification program directives that prohibit mortgage companies from discriminating against homeowners who…

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