Bankruptcy of Memphis

The Consumer Financial Protection Bureau , a branch of the federal government, proposed a massive overhaul of the debt collection industry .   If you have debt that you cannot pay, you have been contacted many times by bill collectors, and at all times of the day and night.  Quite often, this forces people into filing either Chapter 7 bankruptcy or Chapter 13 bankruptcy .  Debtors complain to state and federal agencies about unfair or deceptive practices by collection agencies.  The new proposed rules would make debt collectors go through extra steps to prove that a debt is valid before beginning collections.  The debt collectors would be limited to no more than six communication attempts per week, and the hours of approved contact would be more limited.  If a consumer disputes the debt’s validity, the proposals would require the collectors to provide clear and easy way for the consumer to challenge the debt.  Some consumer groups do not think ...

  The Obama Administration has proposed new guidelines that would stop robocalls demanding immediate payment for student loans.  Student loans are a major factors that force people into having to file either Chapter 7 bankruptcy or Chapter 13 bankruptcy .  Although student loans are not dischargeable in bankruptcy , the pressure it puts on a debtor can cause problems with other debts, often making it necessary to file a bankruptcy .  The new proposed guidelines would force student loan collectors from just collecting student loan debt , and would direct the collectors to inform delinquent borrowers of their eligibility for income based repayment plans before demanding they make payments.  It would also require student loan companies to make vigorous efforts to contact borrowers at risk of default and walk them through their options.  The student loan companies would have to form specialized customer service representatives to handle struggling borrowers wh...

Memphis Medical debt is quite often a factor in the need to seek debt relief by filing either Chapter 7 or Chapter 13 bankruptcy . No matter how much you plan and budget, an unforeseen medical issue can interrupt your ability to earn a living, and leave you with  medical debt  that you cannot pay. When you have children, you never know when they will get sick, break a bone, or have some sport injury. It is always a good idea to take advantage of any health care insurance provided through your job. If health insurance is not provided, there are insurance options through the “Obamacare” plans that you should look into for coverage. However, if the bills are too large, and you find that you have been sued and garnishments are being placed against your paycheck, it does not hurt to see if you can get relief through filing either a Chapter7 bankruptcy  case to get rid of this debt, or a Chapter 13 bankruptcy  case to help consolidate your bills, stop the garnishment, a...

The credit card debt in the United States is predicted to reach One Trillion Dollars this year.  It is very tempting to use credit cards to pay for things that are not really necessary.  Sometimes, we use credit cards for food or gas, which are necessary, but the high interest rates continue to increase the monthly balance, and the monthly payments become more than can be paid.  If your credit card debt gets out of hand, and you are facing law suits and judgments which will result in a garnishment on your paycheck, you may want to consider filing for either a Chapter 7 bankruptcy or Chapter 13 bankruptcy.    Chapter 7 bankruptcy can eliminate debt altogether, and Chapter 13 bankruptcy can help make payments more affordable, and stop the interest from building on your accounts.  Although filing bankruptcy will probably result in losing the credit card, it is a better idea to pay for things in cash.  Also, it is always a g...

Memphis Bankruptcy Attorney Get A Fresh Start Dealing with the constant stress and anxiety of debt can make life difficult. Collection calls, unmanageable debt, wage garnishments and threats of home foreclosure can make anyone lose sleep. If you facing significant debt problems, bankruptcy may provide the relief you are seeking. Bankruptcy has allowed millions of people to obtain debt relief and get a fresh start. I Can Help I am attorney Steven F. Bilsky . I have more than 30 years of experience in bankruptcy law . I have helped thousands of clients obtain debt relief. I practice exclusively in bankruptcy law to provide each of my clients with sound advice and knowledgeable representation. If you need to speak with an experienced bankruptcy lawyer , I am pleased to offer a free consultation. To schedule your consultation, contact my law office in Memphis, Tennessee. Legal Services Tailored To Meet Your Needs I understand that each of my clients is facing a unique deb...