remedies rights creditor rights
What rights and remedies does a creditor have in the bankruptcy case?
A creditor has the basic right to receive a fair share of your non-exempt assets in a Chapter 7 case and to be treated fairly in a Chapter 11, 12, or 13 case. A secured creditor (i.e., one who has [...]
usually happens creditor rights
What actions must a creditor take in a bankruptcy case?
The most common participation by a creditor in a consumer bankruptcy case is to file a proof of claim and share in the liquidation of the bankruptcy estate or under a proposed plan. The bankruptcy estate is overseen by the trustee who [...]
debt collection credit problems
What is the Fair Debt Collection Practices Act?
The Fair Debt Collection Practices Act is federal law that regulates the activities of those who collect debts from others. Many states have adopted similar laws regulating the practices of debt collectors.
A debt collector:
May contact you by mail, in person, by telephone [...]
owe-money-to-bankrupt-company credit problems
I owe money to a company that filed for bankruptcy. Do I have to pay?
Yes. If you do not, you may be contacted by the Trustee, the debtor company, a third-party who has purchased your debt, or a debt collector hired by any one of the above. When a company files for [...]
fair credit credit problems
What is the Fair Credit Reporting Act?
The Fair Credit Reporting Act (FCRA) is a federal law that regulates the activities of credit reporting bureaus. Private credit reporting bureaus, such as TRW Information Services, Equifax Credit Information Services, and Trans Union Credit Information Company, maintain records of financial payment histories, public record [...]
companies credit credit problems
My credit report is really messed up right now. I’ve heard about companies that can help me to fix it quickly. Does this really work?
There are indeed legitimate businesses out there that can help you clean up your credit record. Some will contact your creditors, try to consolidate your debts, and [...]
finance charge credit problems
Can I avoid a finance charge on some forms of credit?
Yes. Many credit cards enable you to pay the entire outstanding credit amount within a certain time period without incurring any finance charge. By paying off your credit balance within the grace period (which must be at least two weeks from [...]
fixed variable credit problems
What is the difference between a fixed and a variable interest rate?
A fixed interest rate means that the rate of the finance charge does not change throughout the duration of the extension of credit. For example, an automobile dealer may offer a loan for an automobile at 4.9% interest rate for [...]
apr credit problems
What is APR?
APR is the acronym for annual percentage rate. The APR is a reference to a federally required calculation of the yearly cost of a loan that includes interest rates and other fees.
The requirement for APR disclosure was intended to help consumers compare loans. Unfortunately, the requirements for what is included [...]
consumer credit credit problems
What types of consumer credit are available?
There at least three basic types of consumer credit:
Noninstallment credit is the simplest form of credit and is usually for a very short term, such as 30 days. The buyer makes one payment at or before the end of the credit period. This kind [...]