Monday, the U.S. Supreme Court ruled that debt collectors can use bankruptcy proceedings to collect debts that have expired under state statutes of limitations without fear of reprisal under the U.S. Fair Debt Collection Practices Act. The court found that companies will not be held liable when they file claims on past debt, giving creditors the green light to pursue debtors for age-old debt that is not required to be paid back under state law. Without the ability to hold companies … [Read more...]
Archives for May 2017
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Top Five Reasons People File for Bankruptcy
In my many years as a Peoria Illinois Chapter 7 Bankruptcy Lawyer I have had the privilege of working with individuals and families struggling with difficult financial situations, helping them to get the information they need to make important decisions. After taking the initiative to gain an understanding of the bankruptcy process and their potential eligibility, many clients express relief that bankruptcy protection is an option they can pursue, now or in the future. The key boils down to … [Read more...]
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