Portfolio Recovery Associates LLC was the topic of last week's blog. If you recall, a woman sued the company because the company's representatives harassed her for a debt she didn't owe and eventually took her to court for the debt. The fact of the matter is that even if you do owe a debt, you still don't have to deal with creditor harassment.
Portfolio Recovery Associates LLC loses lawsuit over practices
Getting constant phone calls from debt collectors is a real bother. When the debt collectors are calling for a debt you don't owe, the bother is even greater. One woman recently won a judgment against Portfolio Recovery Associates LLC because the company pursued her for a $1,000 credit card bill that she didn't owe. The debt actually belonged to a man with a similar name.
Know the benefits of Chapter 7 bankruptcy
Last week, we discussed some of the special considerations for people who are thinking about filing for Chapter 7 bankruptcy. While those considerations might worry some people who are thinking of filing for Chapter 7, there are some benefits that might outweigh them.
Special considerations for a Chapter 7 bankruptcy
Filing for a Chapter 7 bankruptcy is a serious undertaking that involves taking a close look at every aspect of your finances. As you work through the process, you might notice that you have some special circumstances to consider. Each of these circumstances can have a big effect on whether a Chapter 7 bankruptcy is right for you or not.
The downward spiral of credit card debt
Much of the problem with credit card debt is that it often starts with a basis in other issues and builds when those issues do not resolve themselves. This then becomes a downward spiral that can trap people until they are in over their heads.
