stop creditor harassment Archives - Peoria Bankruptcy Lawyer Charles Covey

How Can I Stop Creditor Harassment?

November 5, 2021

Sometimes creditors go too far to collect a debt, crossing the line into harassment. If a creditor is calling you at all hours, making threats, or refuses to provide you with more information, they are in violation of the Fair Debt Collection Practices Act (FDCPA). At a glance, your rights under the FDCPA prohibits a creditor from: Calling before 8 a.m. or after 9 p.m. Contacting you at your place of employment if your employer does not allow it Making misleading, deceitful or … [Read more...]

Do I Have to Pay Off Old Debt?

November 24, 2020

Many wonder if old debt will follow them around forever. Is there a statute of limitations for collecting a debt? Well, the answer is that when you fail to make a payment on a debt, collectors typically have a number of years to bring a lawsuit in order to collect a debt. However, once the statute of limitations has lapsed, the debt may become time-barred and, therefore, no longer collectible. How long a statute of limitation lasts depends on the law in the state and the type of debt - … [Read more...]

Pushing Back on Debt Collectors

November 13, 2020

Getting behind on bills can make every part of your life feel miserable and is only made worse when debt collectors start calling. While some debt collection agents are understanding, many are downright mean, but it is important to keep a cool head and not to let debt collectors intimidate you. Debt Collection 101 Of course if you have debt, you have a legal obligation to pay it. But, just because you may have made some financial mistakes does not give someone the right to abuse you - it … [Read more...]

Bankruptcy Strategies for Eviction : Foreclosure : Car Repossession and More

June 29, 2020

The Illinois rental property owners association recently came out in support of a lawsuit filed by a group of property owners challenging the Governor’s authority to deny housing providers access to the courts. Time may be running out of the moratorium on evictions providing tenants needed leeway during the economic shutdown as well as other programs and policies put in place to help Americans out in the face of Covid-19. During the early weeks of the pandemic, businesses and local, state, … [Read more...]

Seniors Filing Bankruptcy Climbs to 12%

September 12, 2019

The number of seniors filing bankruptcy in the U.S. has increased dramatically over the last three decades. In the early 1990s, bankruptcy among seniors accounted for only 2% of bankruptcy claims. Over the years, bankruptcy among seniors has climbed to 12% with over a hundred thousand seniors filing for bankruptcy. Rising medical costs at a time when Medicare covers fewer expenses, stagnant or reduced wages, and fewer good pensions are one side of the equation; the other is that many seniors … [Read more...]

Bankruptcy in Retirement

August 27, 2018

In a survey of older Americans regarding their reasons for filing bankruptcy, about three in five report medical bills played a role, over two thirds say a drop in income was to blame, and nearly three quarters were victims of creditor harassment that led them to seek protection. Looking at the median household of Americans 65 and older reveals that on average most have only 60K in liquid savings, with the bottom 25 percent deterring around 3K. More people are also entering retirement with … [Read more...]

Unpaid Student Loans in a Bankruptcy

January 19, 2017

The high cost of education coupled with a long-stagnant job market has left many college and trade school grads with a pile of insurmountable debt. New data released by the U.S. Department of Education reveals that numerous students have defaulted or failed to pay back their student loans. In fact, at more than 1,000 colleges and trade schools across the country, at least half the students have not made a payment within seven years or have defaulted altogether. Some borrowers wind up … [Read more...]