Debt Relief Solutions- Dealing with Unpaid Debt

Many consumers face debt problems at some point in their lives. Finding the options that work best for debt relief and credit repair can be quite a daunting task. It can be difficult to even determine which debt relief options are best for a consumer simply because they are undereducated about the topic and already stressed out and uncertain about their future financial situation. However, with so many different people facing debt problems these days, there are a variety of resources for consumers including debt education, debt settlement programs, credit counseling, and even bankruptcy for the most extreme cases.

Debt Relief Scams- Avoid Bankruptcy Attorneys in Disguise

The FTC (Federal Trade Commission) issued a warning in 2004 that gave consumers a heads up on attorneys that were posing as a debt relief service of some kind in order to generate business and lure in desperate consumers in need of help. All bankruptcy lawyers and law firms are referred to as debt relief agencies per the Bankruptcy Abuse Prevention and Consumer Protection Act that was passed in 2005. This small confusion combined with effective marketing pitches that are often misleading leads a lot of people falling for the belief that they enrolled in debt counseling or settlement plans when in fact they signed up for bankruptcy filing.

Bankruptcy Alternatives- Your Debt Relief Solutions and Options

Americans by the millions face the fact that they have more debt than they can pay every single year. If you are faced with a situation where you want to find alternatives to bankruptcy, you have many things to consider. The purpose of debt relief solutions is to seek relief for consumers from financial hardships and stress, and it should not be used as a free pass to get out of debt just to do it all over again. The purpose of Epic Debt Relief is to provide you with solutions that are affordable and effective for your needs.

Debt Relief Solutions- Bankruptcy Alternatives and Avoiding Bankruptcy

Most people see bankruptcy as their very own eraser that allows them a

Debt Relief Solutions- Bankruptcy Alternatives Aren't Always the Answer

There are many situations where bankruptcy alternatives are not the desired result or solution to a money problem. The goal is to get out of debt and be able to move on with life. However, debt settlement, negotiation, and credit counseling are not right for everyone. You need to assess your situation and find the solution that works for your specific needs. Here are some common reasons that bankruptcy alternatives might not work for you or other consumers in a financial debacle:

Debt Relief Solutions- Understanding Illinois Laws about Bankruptcy

Illinois bankruptcy laws for those residents who file Chapter 7 bankruptcy include exemptions as long as the person filing is a single person and the property is in their name only. This list is complete and anything not on this list will be liquidated if it has any value. If you are seeking more information about a specific case, you need to consult a bankruptcy lawyer for assistance.

Debt Relief Solutions- Bankruptcy is the Last Stop

There are many consumers who have so much of an obligation to their debts that they feel that there is no other plausible solution for their situation than bankruptcy. For some, this might be the only debt relief solution that will be effective. However, people who seek this option need to understand how serious it is and how serious the consequences will be before they agree to anything. Filing bankruptcy should only be done when there are no other alternatives and when the solutions that are available have been exhausted. Here are some reasons why people choose bankruptcy, along with explanations of why these may or may not be good decisions to make.

Bankruptcy Alternatives- Avoiding Bankruptcy is a Good Idea for Everyone

When people get into financial trouble, they generally look for the least destructive option that they can find to help them get back on track. This is quite obvious, and it's no wonder that so many people put bankruptcy off until the last second. Here are some of the most common reasons that people should avoid bankruptcy if they possibly can:

Debt Relief Solutions- Bankruptcy is No Longer the Easy Way Out

Starting in 2005, consumers had a whole new set of laws and legalities to face when they chose to file bankruptcy. For many, bankruptcy was the easy solution to debt problems, and the government wanted to try to curb irresponsible behavior by making a clean start more challenging to get for those who simply overspend and want a quick fix for their credit. Now, all consumers that file for bankruptcy must go through a 6 month credit counseling program prior to filing. This will help people to determine whether this is actually an effective solution for them or not.

Debt Relief Solutions- Statute of Limitations and Your Debt

Whether consumers are attempting to handle their debts or not, there is a time period in which lawsuits can be filed and collection attempts can be made. This period is known as the Statute of Limitations and is different in every state of the U.S. However, under this law, debts cannot be collected, sued for, or otherwise sought to be paid by creditors or collectors after this period has expired. Some states offer as little as four years, while others will go up to 15 years or more depending on the type of debt and the state regulations. Collection agencies do not adhere to the same Statute of Limitations as lawsuits, and consumers will have to refer to the Fair Debt Collection Practices Act to determine whether their debt Statute has expired or not.

Repossession 101- Consumer Rights and What You Should Know

Repossession is a problem that affects a growing number of Americans every single day. Cars are the most common type of items that are repossessed, but homes and other property are also at risk. Any time that a consumer gets a secured loan and is required to offer collateral as a promise of repayment, repossession is a potential risk that people could face. The following information will help you to better understand repossessions and what is involved in the entire process, but should not be taken as legal advice because it is for informational purposes only.

Credit Cards and Bankruptcy

Now that there is new bankruptcy legislation in place that makes it more difficult than ever for consumers to file bankruptcy, credit card companies seem to be more aggressive in seeking out new accounts. Whether this is the case or not, there are debt relief options out there for consumers.

Debt Relief Topics- Tenancy by the Entirety

Property ownership is a complicated matter and there are many different things to consider. Tenancy by the entirety is a property issue that is commonly used for married couples and in some cases, legally registered domestic partners. In a few states around the U.S, tenancy by the entirety does offer some solace to people who want to protect their assets. The law gives rights to the entire property to BOTH spouses. If one person files bankruptcy, the home is protected by the other person's name being on the loan. However, if both names are on the bankruptcy, the home is then liquidated as it would be in states without this provision. Tenancy can apply to judgment liens, other types of property, and all other forms of debt except for IRS debts.

Debt Relief Topics- Understanding Community Property

Community property states are those which have adopted laws stating that property acquired during marriage is joint property and is divided when the couple divorces, annuls the marriage, or when one spouse dies. Unless there is a specific situation, joint ownership is automatically assumed to be the case by law. Anyone who lives in one of these states is accountable for all debts that are acquired during the marriage even if their name wasn't explicitly listed on the accounts.

Bankruptcy Information- How to Avoid Liens in Debt Relief and Settlement

There are many people who face liens on a regular basis. Here are some common questions and information about liens and how to avoid them if you can:

There is a lien on my home, but I don't have the means for debt relief or settlement, so is there a way I can avoid paying the lien and be rid of it?

Reduction Medical Bill

Debt Relief Solutions for Medical Debt- Part Three

Debt relief solutions are often sought for medical debt because so many people don't have insurance, and those who do don't have nearly enough coverage. Anyone who is having problems with medical debt needs to get itemized medical bills to ensure that they weren't overcharged before they file bankruptcy or seek medical debt relief solutions.

Debt Relief Solutions for Medical Debt- Part One

The rising costs of healthcare and the increasing number of people without medical insurance are contributing to a rise in medical debt and consumers who are seeking medical debt relief. There are studies that have shown that more than four of five medical bills have errors or overcharges, but most consumers aren't able to identify them or fight them because they don't know what they are looking for. In order to find the faults, consumers must be able to get itemized bills and medical history records.

Bankruptcy and You- Understanding Credit Cards and Credit

Bankruptcy reform has made it more difficult than ever for people to file bankruptcy and enjoy being able to just get rid of credit card debt when they cannot afford it. However, this increase in difficulty when it comes to debt relief has led to credit card companies that are more aggressive than ever before. There is a great debate among the ABA, or American Bankers Association, about who is to blame for credit card debt and so many bankruptcy cases being filed. The lenders blame the consumers, while some blame the creditors for being too aggressive.

You Know the Repo Man?

Understanding Repossession Debt

Often, repossessions can be negotiated down significantly. Everyone has different circumstances, and there are debt settlement and negotiation options for all. However, each situation is different and the settlement plan will be different, as well. There are many options for getting rid of repo debt, including the following:

Settle or Negotiate Your Debt Today

While bankruptcy lasts for up to 10 years, debt settlement and negotiation can provide a much more short-term impact on your credit report, allowing you to get back to life. Why should you negotiate or settle your debt? Here are four great reasons why:

Understanding Bankruptcy and Your Alternatives

If you are a consumer that is considering Bankruptcy, it is very important to understand all of your options and the potential implications and benefits of each. If your goal is to avoid bankruptcy, a debt settlement program could be a viable option for you. It is important to understand that in some occasional circumstances consumers that were enrolled in a debt a settlement program may have ultimately decided to pursue a bankruptcy.

Can Credit Card Companies Sue Me For My Credit Card Debt?

It's a common question. The unfortunate truth is that yes, credit card companies can sue you to collect on credit card debt that you owe them.

It is often surprising and disconcerting when people receive notice that they are being sued by a credit card company or other creditor to collect on a debt.

Bankruptcy and Credit Card Debt

If you have found yourself facing out-of-control credit card debt that you are unable to repay, you may be considering relieving your debt by filing for bankruptcy.

Although bankruptcy is generally considered a drastic, last-resort measure, for some people, it is a viable debt management solution.

How To Avoid Bankruptcy Through Direct Settlement Of Credit Card Debt

It's alarming but true: once consumers allow personal debt to accumulate beyond their ability to repay, the problem can quickly escalate into a serious financial crisis. And with credit card debt at record levels, and millions of new credit card accounts opened every year, it's no surprise that so many consumers find themselves in desperate circumstances, with little hope of repaying their obligations on their own.

Debt Negotiation with a Prior Bankruptcy

More specifically, if you've filed Chapter 7 Bankruptcy in the past 7 years, you may be out of luck. The main draw of debt negotiation for creditors is that they can recover a substantial portion of a bad debt that otherwise could and/or would be completely wiped out by bankruptcy. Unfortunately, if you've filed bankruptcy in the past 2 years, then you can't file again for another 5 years, so a creditor loses some of the incentive to negotiate a balance.\