Debts
Learn about the different kinds of debt and how they’re handled in a bankruptcy case. (Hint: Most of them are wiped out by the bankruptcy discharge.)
Almost all types of consumer debt can be eliminated by filing bankruptcy. But, as with everything in life, there are some exceptions. If you need debt relief, learn how Chapter 7 bankruptcy can give you a fresh start.
This page is your home base for learning about how different types of debt are treated in bankruptcy.
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What is Unsecured Debt?
Written by Attorney Andrea Wimmer.
Updated July 28, 2023
Unsecured debt is not tied to any property (collateral) and includes credit cards and medical debt. Chapter 7 and Chapter 13 cases eliminate most unsecured debts.
Read More →How Will Bankruptcy Affect My Credit?
Written by Attorney Andrea Wimmer.
Updated November 28, 2021
Filing bankruptcy does not ruin your credit forever! If you need debt relief but are worried about how a bankruptcy affects your credit rating, this article is for you.
Read More →What Is Debt and How Should I Handle It?
Written by Attorney Andrea Wimmer.
Updated April 18, 2024
Debt is a result of borrowing money that has to be paid back over a period of time. Lending institutions, like banks, will lend you money so you can make a purchase. In turn they expect you to pay them back, with interest. Debt can be classified in two broad categories: corporate debt and personal debt, which is also called consumer debt. Corporate debt involves loans between businesses and, generally speaking, has little to no impact on personal debt. This article will explain the most common types of consumer (personal) debt and how to handle it.
Read More →Should I File for Bankruptcy for Credit Card Debt?
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated November 7, 2024
If you're overwhelmed by credit card debt, filing for bankruptcy may be a way to erase it and get a fresh financial start. Many people consider options like credit counseling or debt management first, but bankruptcy can be a powerful solution when other methods aren't enough. This article will help you understand if bankruptcy is the right choice for dealing with your credit card debt.
Read More →Filing Bankruptcy to Deal With Your Student Loan Debt? Here Are 3 Things You Should Know!
Written by Attorney Kassandra Kuehl.
Updated June 9, 2023
You CAN discharge student loans in bankruptcy, but you’ll have to do a little extra work by filing an adversary proceeding, and you need to meet eligibility requirements. It’s gotten a little easier in recent months for federal student loan borrowers to discharge their student debt in Chapter 7 bankruptcy. This article explores three key things to know if you want to file for bankruptcy to erase your student loan debt.
Read More →What Is Secured Debt?
Written by Attorney Andrea Wimmer.
Updated July 26, 2023
Secured debt is connected to a piece of property that the bank can take back if there's a payment default. The most common type of secured debt are car loans.
Read More →Should I List My Student Loans Even if They Can't Be Erased?
Written by Kristin Turner, Harvard Law Grad.
Updated September 15, 2021
Yes. You should include all your debts on your bankruptcy forms, even if some cannot be erased.
Read More →Should I File For Bankruptcy or Try Debt Relief?
Written by Jonathan Petts.
Updated August 21, 2024
When you’re trying to figure out the best debt relief option, first consider how much debt you have, whether you want to call in outside help or support, how quickly you’re hoping to repay the debt, and how important your credit score is to you right now. You have several debt-relief strategies available to you, and each has its pros and cons.
Read More →What To Do If You Don’t Remember Everyone You Owe Money?
Written by Jonathan Petts.
Updated November 21, 2020
If you're overwhelmed by debt collectors and collection agencies calling you to collect a debt, it can seem as though you'll never be able to remember who they all are. But, it's important to give the bankruptcy court a list of all of your creditors, so here are some steps you can take to make sure you didn't miss anyone.
Read More →How to Get a Free Bankruptcy Consultation in New York?
Written by Kristin Turner, Harvard Law Grad.
Updated August 8, 2023
How to find a free Chapter 7 bankruptcy consultation in New York City. A bankruptcy attorney will help you decide between Chapter 7 and Chapter 13.
Read More →How Can I Find a Free Bankruptcy Lawyer in New York City?
Written by Kristin Turner, Harvard Law Grad.
Updated April 10, 2023
If you're looking for an affordable bankruptcy lawyer, look no further. Upsolve is a nonprofit that helps low-income Americans get the fresh start they need through Chapter 7 bankruptcy. We'll also help you look at other resources for affordable bankruptcy lawyers.
Read More →Your Guide To Rebuilding Credit After Bankruptcy
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated April 18, 2024
A bankruptcy does not destroy your credit forever. Instead, following some simple tricks and taking advantage of the various credit repair tools can help you build a stronger credit report and higher credit score after filing for bankruptcy.
Read More →Legal Aid Bankruptcy Resources in New York City
Written by Jonathan Petts.
Updated April 10, 2023
Legal aid nonprofits provide free assistance to people who can't afford a bankruptcy attorney. See if there's a legal aid nonprofit in New York City that can help you.
Read More →How To Find a Bankruptcy Attorney Near Me
Written by Jonathan Petts.
Updated August 19, 2024
Tips for finding a bankruptcy attorney.
Read More →How Do I Find an Affordable Bankruptcy Attorney?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 20, 2024
While you don’t have to hire a lawyer to file a bankruptcy case, you may want legal assistance. If so, there are several resources you can use to find an affordable bankruptcy attorney, including your state bar association’s website, the National Association of Consumer Bankruptcy Attorneys, or a local legal aid organization. Many bankruptcy lawyers also offer a free consultation for prospective clients. You can get free legal advice during the consultation and learn more about the lawyer’s fees and options for paying them.
Read More →Can I Get Rid of my Medical Bills in Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated July 20, 2023
Medical debt and loss of income for medical reasons plays a role in more than 60% of personal bankruptcy filings. If you’re struggling to make ends meet while dealing with medical bills, bankruptcy can provide relief.
Read More →What is a Debt Collection Attorney?
Written by Jonathan Petts.
Updated April 20, 2023
A debt collection attorney is a type of attorney who specializes in debt collection. They can represent either creditors or borrowers, so it is smart to find a debt collection attorney who specializes in a practice area specific to your type of case. While a debt collection attorney cannot make your debt disappear, they can help you navigate the debt collection process and protect your legal rights. Keep in mind, though, that hiring a lawyer will be an additional cost to you.
Read More →What Debts Can't You Get Rid of in Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 20, 2024
Though bankruptcy provides real debt relief for folks who are struggling to make ends meet, not every debt is treated equally under bankruptcy law. Bankruptcy is a great way to get rid of credit card debt, medical bills, and personal and payday loans. But bankruptcy can’t wipe out recent income tax you owe, alimony, child support, or debt incurred from illegal acts (embezzlement, larceny, etc.) Though there’s a common misconception that student loan debt can’t be erased in bankruptcy, you can discharge, or wipe out, your student loan debt in Chapter 7 or Chapter 13 bankruptcy. You must prove that repaying it is causing undue hardship and that you’ve made good faith efforts to pay in the past.
Read More →Debt Consolidation – 5 Things You Should Know
Written by Jonathan Petts. Legally reviewed by Attorney Andrea Wimmer
Updated April 19, 2024
Debt consolidation does not erase debt, but it can be helpful in reducing your interest rate on debt you owe.
Read More →Debt Relief Programs and Financial Resources for Veterans
Written by Attorney Jenni Klock Morel.
Updated April 19, 2024
There are many debt-relief programs and resources for veterans and active-duty service members alike. Some focus on helping military personnel with homeownership while others focus on managing your finances and debts. It’s especially important for active-duty military members to keep their finances in order. This will help you get or maintain security clearances. This article covers the most common debt relief programs and financial resources for veterans and active-duty service members.
Read More →On My Bankruptcy Forms, Should I List Debts That Appear on My Credit Report but I Don't Owe?
Written by Jonathan Petts.
Updated September 4, 2021
You should list debts on your bankruptcy forms that are on your credit report even if you don't think you owe them.
Read More →What Are Bankruptcy-Friendly Credit Cards?
Written by Lawyer John Coble.
Updated August 20, 2024
It’s important to rebuild your credit after a bankruptcy. The good news is that you’ll get plenty of offers for credit after your bankruptcy discharge. The bad news is that some of those offers won’t be great, with high interest rates or hidden fees. If you want to rebuild your credit, you need to find the right card to work for you. Read on to learn about some of your options.
Read More →What Is an Automatic Stay In Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated October 23, 2024
An automatic stay is a powerful protection that kicks in as soon as you file for bankruptcy. It stops most creditors from trying to collect debts. This means they can't call you, send letters, garnish your wages, or start or continue lawsuits against you. The protection lasts until your Chapter 7 bankruptcy case ends or the court lifts the stay.
Read More →Will Chapter 7 Bankruptcy Lower My Credit Score?
Written by Jonathan Petts.
Updated August 1, 2023
Most people who have low credit scores and file for bankruptcy actually see their credit scores improve.
Read More →Will Filing for Bankruptcy Stop a Levy?
Written by Jonathan Petts.
Updated June 30, 2023
Filing bankruptcy can stop a bank levy. When you file bankruptcy, you get the protection of the automatic stay. Under the automatic stay, creditors can't try to collect from you in any way, including a bank levy. Other ways to stop a bank levy include: - Paying the debt (if possible - Negotiating a payment agreement with the creditor - Alleging that the credit made a legal error in the process to obtain permission to levy your account - Alleging that the statute of limitations to collect the debt has expired - Alleging that the funds in the account are protected from levy
Read More →Should I list the original credit card, or the debt collection agency?
Written by Jonathan Petts.
Updated July 22, 2020
When you're listing the companies that you owe money to, you should list current owner of the debt. So if a debt collection agency bought your debt from the original credit card you owe money to, you should list the debt collection agency.
Read More →I Just Took Out Payday Loans. Should I Wait 90 Days To File Bankruptcy?
Written by Jonathan Petts.
Updated April 19, 2022
It's a good idea to wait at least 90 days to file after taking out payday loans or making any substantial purchases. This is because these types of transactions can make a trustee or judge suspicious and less likely to approve your bankruptcy. It looks like you're "cheating" — wracking up debt knowing that you could just get rid of it in bankruptcy right after.
Read More →What Does It Mean To Be Judgment Proof?
Written by Jonathan Petts.
Updated April 19, 2024
Being judgment proof means that you do not have anything for a creditor to collect if they sue you and win. As you can imagine, this means that they are not likely to sue you. It does not mean that they can't sue you, just that they probably won't be able to collect if they do decide to take you to court.
Read More →What Happens to the Automatic Stay if My Bankruptcy Case Is Dismissed?
Written by Curtis Lee, JD.
Updated July 27, 2023
If your bankruptcy case gets dismissed, your debts won’t be discharged and the automatic stay goes away. Without the protection of the automatic stay, debt collectors and creditors can resume collection activities. If your case is dismissed, you can file a new case or file a motion to reinstate your previous case. If this happens, there may be limits to the automatic stay.
Read More →What if I Paid Someone Back in the Year Before Bankruptcy?
Written by Jonathan Petts.
Updated August 24, 2021
If you're filing for bankruptcy, you probably owe many debts. If you repay some of those debts but not others in the year before bankruptcy, the trustee in your bankruptcy case may try to recollect some portion to redistribute the repayment more evenly across all your creditors.
Read More →Already Filed Bankruptcy Then Sued By a Creditor? Do This
Written by Attorney Andrea Wimmer.
Updated July 27, 2023
If you're being sued by a creditor for an unpaid debt but you're in the process of filing bankruptcy, you may be wondering if you need to show up to your court date for the creditor's lawsuit against you. It will depend on when your court date is and where you're at in the process of filing your bankruptcy case. If you haven't filed your bankruptcy case by the court date for your creditor's lawsuit against you, make sure you attend the hearing. Otherwise, the judge can potentially grant a default judgment against you simply because you didn’t show up. If you have filed your bankruptcy case, it's still a good idea to show up to the hearing to let the judge know. Or you can contact the court clerk prior to the court date to let them know and see what they advise.
Read More →Should I Make a Last Payment on My Credit Card Before I File Bankruptcy?
Written by Jonathan Petts.
Updated September 15, 2021
If you plan to file bankruptcy soon, making one last credit card payment won't hurt your case, but it also won't help it.
Read More →Will My Utility Company Take My Deposit When I File Bankruptcy?
Written by Upsolve Team.
Updated November 11, 2021
Your utility company might keep your security deposit when you file bankruptcy. The company is allowed to keep any security deposit that you paid them before bankruptcy. It's also allowed to charge you a reasonable security deposit for future services after you file.
Read More →A Creditor Is Suing Me. What Should I Do?
Written by Kristin Turner, Harvard Law Grad.
Updated August 27, 2021
When you file your bankruptcy paperwork, you will need to mention any lawsuits creditors have brought against you.
Read More →Will My Landlord Be Notified That I Filed for Bankruptcy?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated September 15, 2021
Your landlord will be notified when you file for bankruptcy if you're on a lease. If you are on a month-to-month rental agreement, then the landlord won't be notified that you filed.
Read More →If I file for bankruptcy, will it hurt my co-signer’s credit score?
Written by Kristin Turner, Harvard Law Grad. Legally reviewed by Attorney Andrea Wimmer
Updated October 30, 2021
No. A co-signer’s social security number will not be involved, and the bankruptcy does not go on their credit.
Read More →What Is Community Debt?
Written by Kristin Turner, Harvard Law Grad.
Updated July 2, 2022
Community debt is any debt that you or your spouse incur while married or any debt for which you and your spouse are co-signers. There are 10 community property states where spouses or legal partners may have community debt. This article outlines the 10 community property states and how having community debt may affect your bankruptcy filing.
Read More →Do I Need To List All of My Creditors?
Written by Jonathan Petts.
Updated April 19, 2022
You should do your best to list all of the companies you owe money to on your bankruptcy forms.
Read More →If a Creditor Was Charged Off, Do I Still Need To List Them?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2022
Just because a creditor has charged off a debt doesn't mean that you don’t owe it anymore. That's why you'll still need to list the creditor on your bankruptcy forms. Having a debt charged off only means that the creditor has decided the debt is uncollectible for accounting purposes.
Read More →How Do You Answer a Summons for Debt Without an Attorney?
Written by Jonathan Petts.
Updated August 21, 2024
If you receive a summons and complaint from a debt collector or creditor, it means you’re being sued for unpaid debt. It’s important to respond to (or answer) the lawsuit. You do this by filing official paperwork with the court. Be sure to address every point in the complaint, raise any defenses you have, and file the paperwork within the time frame provided. Debt collectors are counting on you not to answer the lawsuit so that they can win by default. Don’t be intimidated! Take control and learn how to file an answer by reading this guide. You do not need an attorney to answer a debt collection lawsuit successfully.
Read More →If I Have a Debt That's Not Dischargeable, Should I Still List It?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2022
Yes. You must list every debt you have on your forms. The court needs to know about all of them.
Read More →I Don’t Have the Names of My Doctors. Is That Okay?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2022
Yes, that's fine. Just do your best when you write down the names, addresses, and amounts owed to your creditors. If possible, please Google around to find info you don't know off the top of your head.
Read More →What are the alternatives to Chapter 7 bankruptcy?
Written by Attorney Andrea Wimmer.
Updated April 19, 2024
Bankruptcy is not right for everyone or every situation. If you're not sure whether bankruptcy is right for you, knowing what alternatives are available to give you some relief from your debts is a critical part of making the right decision for you and your family. Let's take a look at some of the most common bankruptcy alternatives.
Read More →What if I Can’t Afford To Pay a Judgment Against Me?
Written by Attorney Andrea Wimmer.
Updated July 17, 2023
If a creditor or debt collector has sued you and gotten a court judgement against you, you have three main options: 1. You can pay the debt. You may be able to negotiate a voluntary payment plan with the debt collector. 2. You can file to have the judgment vacated or removed. 3. You can file bankruptcy to discharge the debt and stop all collection efforts, including those related to a court judgment.
Read More →How Can I Get Free Legal Aid Help To File Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated February 10, 2024
Legal advice can be very helpful as you navigate the bankruptcy process, but not everyone can afford to hire an attorney to help them. That's where legal aid comes in. Legal aid organizations offer free or low-cost legal help to certain individuals. Eligibility is often based on income, but sometimes age, veteran status, or other factors come into play as well. This article will describe what legal aid is, how to find out if you qualify, and what it's like to work with a legal aid organization.
Read More →Can Bankruptcy Help With Payday Loans?
Written by Jonathan Petts.
Updated April 19, 2022
In some cases, bankruptcy can help borrowers who have payday loans they can't repay. Filing for Chapter 7 bankruptcy triggers an automatic stay, which prevents the payday loan company from trying to collect the debt. If the debt is later discharged, you are no longer obligated to pay it back.
Read More →What Goes Into a Credit Score?
Written by Kristin Turner, Harvard Law Grad.
Updated April 19, 2024
Your credit score is determined by several factors, including payment history, how much of your credit you're using, what types of credit you have, how long your credit history is, and how much new credit you've applied for recently. Your score helps lenders understand how well you manage credit as a borrower. You can proactively work to improve your credit score and build a strong financial future.
Read More →How Much Debt Do I Need To File for Chapter 7 Bankruptcy?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 9, 2023
Bankruptcy laws don't specify a minimum debt requirement to file Chapter 7 bankruptcy. As long as you qualify to file and meet all the requirements, you can file Chapter 7 and have your dischargeable debts wiped away.
Read More →Can Bankruptcy Stop Eviction?
Written by Curtis Lee, JD.
Updated May 11, 2022
An automatic stay goes into effect as soon as you file bankruptcy. This temporarily stops all debt collection activity, including eviction actions, as long as the landlord hasn’t already received a judgment in their favor. The automatic stay isn’t a permanent solution, though. It’s only a temporary measure that may buy you some time to deal with the eviction or find other housing.
Read More →Can I Leave Debts Out of My Bankruptcy?
Written by Attorney Paige Hooper.
Updated August 8, 2023
You need to list all your assets and debts when you file your bankruptcy. Leaving debts out of your bankruptcy filing will mess up your income and expense calculations. It can also be grounds for criminal charges for bankruptcy fraud.
Read More →Can filing bankruptcy stop a debt collection lawsuit against me?
Written by Attorney Eva Bacevice.
Updated July 28, 2023
In most cases, yes. In fact, facing a possible judgment or receiving one in a debt collection case is often why you might decide to file for bankruptcy. A debt collection lawsuit is a civil lawsuit (not criminal). These most often occur if a creditor has filed a suit against you for non-payment of a debt which may lead to the creditor garnishing your paycheck.
Read More →What Is a Bankruptcy Discharge?
Written by Attorney Andrea Wimmer.
Updated September 29, 2023
A discharge order that tells your creditors they are forever prohibited from asking you to pay your pre-bankruptcy debts ever again.
Read More →How Does Bankruptcy Affect a Car Lease?
Written by Attorney Paige Hooper.
Updated July 20, 2023
A car lease isn’t the same as a car loan. A lease is a contract to use a car for a period of time. It’s not considered a debt when you file bankruptcy. If you have a car lease and file Chapter 7, you can continue with the lease if your payments are current. Otherwise, you can give the car back and walk away from the lease. If you file Chapter 13, you’ll have more options for keeping the car, which we’ll explore in this article.
Read More →Why you should not include credit card or personal loan debt payments in Schedule J (Expenses)
Written by Attorney Karra Kingston.
Updated August 15, 2023
Since Schedule J is essentially a budget for life after bankruptcy and since you will not continue to pay your debts after filing for bankruptcy, don’t list your monthly credit card payments etc. on your Schedule J. Anything that gets discharged in your case, that you won’t continue to pay for should be left off your Schedule J.
Read More →How To Get Your Credit Report For Free
Written by Attorney Tina Tran.
Updated April 19, 2024
Your credit report has a lot of power over your daily life - whether that's when you go to get a new car or are applying for an apartment. In addition to using credit responsibly, keeping an eye on your credit report is one of the most valuable things you can do to make sure your financial house is as stable as possible. There are three ways to request a copy of your free credit report.
Read More →Should I Keep Paying My Credit Cards if I’m Going To File Bankruptcy?
Written by Attorney Paige Hooper.
Updated October 28, 2024
If you're planning to file for bankruptcy, you usually don't need to keep paying your credit cards. In Chapter 7, credit card debt is typically wiped out, so making payments may not make sense. In Chapter 13, your debt will be included in a repayment plan, so you can stop paying and focus on that instead. Chapter 7 and Chapter 13 have different goals and benefits, so knowing which type of bankruptcy you're filing will help you decide what to do.
Read More →What Is a Debt Management Plan?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated August 1, 2024
A debt management plan allows you to combine your debts and make one monthly payment with a lower interest rate. It's set up by a credit counselor and usually takes 3-5 years to complete. Only certain kinds of debt, such as credit card debt, can be included in a DMP. If you have a lot of debt that's secured by collateral (like a house or car loan), a DMP may not be the best option. But you can look into other debt relief options including filing Chapter 13 bankruptcy.
Read More →What Is Debt Settlement?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated August 1, 2024
Debt settlement is a type of debt relief. If a creditor agrees to a debt settlement, you make a lump-sum payment for less than the total debt you owe and they forgive the rest. This can work well if you have a large sum of cash at hand. But many who've fallen behind on paying their debts don’t. If you try to save up money to settle a debt, you'll hurt your credit in the meantime if you stop making your debt payments.
Read More →What Is Credit Counseling?
Written by Attorney Tina Tran.
Updated August 1, 2024
Credit counseling is a great starting point for people who need help figuring out the best way to deal with their debt. Nonprofit credit counselors review your income and debt and help you develop a personalized plan to repay your debts. They’ll go over several potential debt relief solutions, including budgeting, starting a debt management plan, consolidating your debt, or filing bankruptcy.
Read More →What Is Debt Consolidation?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated August 1, 2024
Debt consolidation is when you combine multiple debts into one. The goal of consolidating your debt is to reduce your monthly payment and get a lower interest rate. It also simplifies your debt repayment, so you're less likely to miss payments each month. Debt consolidation loans and credit card balance transfers are two common types of debt consolidation.
Read More →What Is Post-Petition Debt?
Written by the Upsolve Team.
Updated March 29, 2022
Debt you acquire after you file your bankruptcy petition is called post-petition debt. Post-petition debt won't be discharged in your bankruptcy. But post-petition debt isn't the same as debt you forgot to include on your bankruptcy forms.
Read More →Can Social Security Overpayments be Discharged in Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated September 13, 2022
If you owe money to the government due to an overpayment of social security benefits, you may be concerned about whether you’ll be able to eliminate this debt as part of a Chapter 7 bankruptcy. Keep reading to learn how to make sure you are able to discharge your debt for this overpayment.
Read More →What To Do If A Creditor’s Address Changed After Filing
Written by Attorney Andrea Wimmer.
Updated September 4, 2020
If you notice that your creditor’s address has changed on a document/letter they sent to you regarding your bankruptcy, it’s likely that they’ve already provided their new/updated address to the court.
Read More →Can I File Bankruptcy if I’m in a Debt Relief Program?
Written by Jonathan Petts.
Updated August 1, 2024
Yes, you can file bankruptcy even if you’re in or were in a debt relief program such as a debt management plan. Once you file your bankruptcy case with the court, you can stop making the payments under the debt relief plan you’re in (if you haven’t already). Once the bankruptcy court grants your discharge, you won’t have to worry about repaying the debts included in your case. Many people can benefit from other debt-relief options before filing bankruptcy, but sometimes bankruptcy is the best choice to meet your financial goals and take control of your debt.
Read More →Cash Advances and Bankruptcy
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
A cash advance is exactly what it sounds like. Someone gives you cash, you pay it back. There are a variety of different forms of cash advances, but they all have this in common. You get cash in a certain amount. You pay it back with interest. Getting a cash advance right before filing bankruptcy is a big red flag for a couple of reasons. This article explains how.
Read More →Debt Consolidation vs. Bankruptcy – Which Is Better?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated October 30, 2021
Almost anyone who is experiencing difficulty paying their bills and considering filing for bankruptcy will come across advertisements or solicitations for something known as debt consolidation. This article will discuss the difference between debt consolidation and bankruptcy and give you some help in deciding which is better for you.
Read More →Can Attorney Fees Be Included in Bankruptcy?
Written by Your Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 27, 2023
If you owe attorney fees when you go to file your bankruptcy case, most will be treated as unsecured debt and discharged as part of your bankruptcy case. There are some exceptions to this, especially for attorney fees related to family court matters. Keep reading to learn more about how attorney fees are treated in bankruptcy.
Read More →Can I keep using my credit cards until I file bankruptcy?
Written by Attorney Andrea Wimmer.
Updated September 4, 2020
Once you’ve decided that you’ll be filing bankruptcy to deal with your debt, you should not continue to incur new debt. That includes making new charges on your credit card, or getting a new loan.
Read More →Store Cards and Bankruptcy
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Issuing credit cards to their customers is a favorite and quite effective marketing technique used by many retail stores. It makes the customer feel special and come back to take advantage of the “deals” only available to card holders. Common examples include Best Buy, Kohl’s and Apple credit cards. This article explores how store credit cards are treated in a Chapter 7 bankruptcy.
Read More →How To Pay Off Credit Card Debt When You Have No Money
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated June 10, 2024
Common advice for getting out of credit card debt, like tightening your budget and repaying high-interest accounts first, only works if you actually have extra cash to put toward your credit card debt. What are you supposed to do if you don’t have money to put toward your debt? Read this article to learn more about alternative methods for paying down credit card debt, including debt consolidation, debt management programs, and debt settlement.
Read More →When to Declare Bankruptcy
Written by Lawyer John Coble.
Updated July 28, 2023
You have many options for debt relief. There are debt settlements, debt management plans, debt consolidations, and bankruptcy. Each option has pros and cons. The best choice for you will depend on your particular situation. Whether you should file bankruptcy and what type of bankruptcy to file is unique to your situation. Everyone's financial situation is different.
Read More →Receiving Credit and Other Offers After Filing Chapter 7 Bankruptcy
Written by Attorney Alexander Hernandez.
Updated July 22, 2020
Court cases and documents filed in court are part of the public record. The same holds true for bankruptcy cases. As a result, companies searching the court records will know that you filed for bankruptcy and will start sending you advertisements in the mail offering you their services, including offers to apply for credit. However, before you accept that offer for a new credit card or car loan, continue reading to learn what you need to consider and what your best options are.
Read More →City of Chicago’s “Fresh Start” Parking Ticket Debt Payment Plan Program
Written by Attorney Tina Tran.
Updated July 26, 2023
Within the past few years, investigative reporters from ProPublica have uncovered the disparate effects of Chicago’s parking and red-light ticketing system on low-income communities of color. Under a new Illinois ordinance, people filing Chapter 7 bankruptcy could erase their ticket debt if they met certain qualifications.Read on to learn more.
Read More →Navigating Bankruptcy: Understanding Which Debts Can't Be Discharged
Written by Attorney Jenni Klock Morel.
Updated May 11, 2023
Though bankruptcy provides real debt relief for folks who are struggling to make ends meet, not every debt is treated equally under bankruptcy law. Bankruptcy is a great way to get rid of credit card debt, medical bills, and personal and payday loans. But bankruptcy can’t wipe out recent income tax you owe, alimony, child support, or debt incurred from illegal acts (embezzlement, larceny, etc.) Though there’s a common misconception that student loan debt can’t be erased in bankruptcy, you can discharge, or wipe out, your student loan debt in Chapter 7 or Chapter 13 bankruptcy. You must prove that repaying it is causing undue hardship and that you’ve made good faith efforts to pay in the past.
Read More →What are preferential payments in bankruptcy?
Written by Attorney Amelia Niemi.
Updated August 10, 2023
This article will explore what constitutes a preferential payment and why it matters to you if you’re thinking about filing a Chapter 7 bankruptcy.
Read More →What are Priority Unsecured Debts?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
We usually hear debts divided into two categories: secured and unsecured. A debt is secured if the lender has a security interest in some property and can take that property if you don’t pay. But, in bankruptcy, there are other important distinctions. Some unsecured debts get special treatment. In this article, we’ll explain the different types of unsecured debt, and what it means when a debt has priority.
Read More →What happens if your debt goes to a collections company?
Written by Attorney Amelia Niemi.
Updated April 19, 2024
Most of us have a pile of “to-dos” that never seem to be done. For many people, this includes a stack of bills and debts that just keep getting higher. As much as you’d love to pay off that medical debt, there’s never quite enough to go around on payday. Having this debt hang over your head can be really stressful. A lot of people sit up at night, worrying about what will happen next to their debt. Read more to find out what debt collectors can – and can’t – do, how they might legally be able to claim that money, and how this might affect your credit history.
Read More →What Is a Lien and How Does It Affect My Property?
Written by Lawyer John Coble.
Updated November 28, 2021
A lien is a property right held by a creditor to secure the creditor’s right to payment from the borrower. Once the creditor is paid in full, the lien is released and the borrower owns the property free and clear. This article will provide an overview of the different types of liens, how they arise, and provide some guidance and additional resources on how to deal with liens in a Chapter 7 bankruptcy.
Read More →When Should You File for Bankruptcy?
Written by Amy Carst. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
Millions of Americans feel overwhelmed by debt, but that doesn’t mean all of them should file bankruptcy. There are multiple paths to debt relief, depending on your unique circumstances. Bankruptcy is only one. However, when other possible solutions, such as debt settlement and debt consolidation fall short, bankruptcy may be the most effective way to discharge debt and get the fresh start you need. Read on for more information about the different types of bankruptcy, and how to determine if filing might be right for you.
Read More →Am I Responsible for My Spouse’s Debt?
Written by Attorney Paige Hooper.
Updated March 10, 2022
Whether or not you’re responsible for your spouse’s debt depends on what state you live in. If you live in a non-community property state, you’re only responsible for debt in your name and debt you’ve co-signed on. If you live in one of nine community property states (or Puerto Rico), you are responsible for your spouse's debt regardless of whose name is on it. There are some exceptions though, which we’ll explain in this article.
Read More →How To Find Out What Debt Collectors You Owe
Written by Attorney Amelia Niemi.
Updated August 18, 2023
If it feels like you’re drowning in a sea of debt, it can seem impossible to find a life raft, especially if the debt collectors have already started circling. Getting a handle on who you owe and how much money you owe them is an important first step in sorting out your personal finances. This article will give you some tips and tools you can use to climb aboard that life raft, grab a paddle, and start sorting out your financial life.
Read More →What Happens if You Don’t Pay a Collection Agency?
Written by Your Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated August 17, 2023
If you don't pay a debt collector or collection agency, you’ll likely face increasing efforts to collect the debt via phone calls, letters, or even social media contact. Not paying a debt in collections will also hurt your credit score. If you don’t pay, the collection agency can sue you to try to collect the debt. If successful, the court may grant them the authority to garnish your wages or bank account or place a lien on your property. You can defend yourself in a debt collection lawsuit or file bankruptcy to stop collection actions.
Read More →6 Tips for Settling Credit Card Debt Before Going to Court
Written by Amy Carst. Legally reviewed by Attorney Andrea Wimmer
Updated August 1, 2024
If you’ve been sued for credit card debt, you may still have time to settle your debt before you go to court. Follow these six tips to settle your credit card debt outside of a lawsuit: 1. Remember that the other side is motivated to negotiate. 2. Research the debt and decide what your best option is. 3. Negotiate a settlement. 4. Don’t ignore court papers. 5. Accept that you can’t win them all — have a plan B. 6. Watch out for debt settlement scams.
Read More →A Guide to Securing a Personal Loan After Bankruptcy
Written by Alicia Grayson. Legally reviewed by Attorney Andrea Wimmer
Updated February 10, 2021
Filing bankruptcy gives you a fresh start, but what if you need to secure a loan after your discharge has been entered? While you're still at the mercy of lenders and financial institutions, getting a loan is not impossible. Guest Contributor Alicia Grayson has put together this short guide on everything you need to know about getting a post-bankruptcy loan.
Read More →Can You Pay Student Loans With a Credit Card?
Written by Amy Carst. Legally reviewed by Attorney Andrea Wimmer
Updated July 5, 2023
You can’t make a federal student loan payment with a credit card. You may be able to use a third-party payment service, but most of these services have high fees. There are also some risks involved in using your credit card to pay your student loans. For example, credit cards often have much higher interest rates than federal student loans, so paying off your loans using a credit card can lead to spiraling debt as interest accrues on your card. This can negatively affect your credit score and put you in a difficult position with your finances.
Read More →What is a Proof of Claim in Bankruptcy?
Written by Attorney Amelia Niemi.
Updated August 15, 2023
A proof of claim is what creditors are required to submit to the bankruptcy court before they can receive any money from the bankruptcy trustee. It’s the creditors’ way of saying, “I’m owed money, and here is how much, and why.” The trustee and the person who filed bankruptcy are given an opportunity to review and may object to any proof of claim that is filed in the case. Let’s take a closer look at how this all works.
Read More →Is there a way to keep a credit card I need when filing bankruptcy?
Written by Attorney Andrea Wimmer.
Updated July 22, 2020
Unfortunately, there’s no way to keep a credit card, no matter the reason. If you owe a balance on the credit card, you have to list it as a debt. The debt will be discharged and the account closed by the creditor. Bankruptcy law requires that you list all of your debts. You are not allowed to simply “leave out” one of your credit cards.
Read More →How Can I Repair My Credit Myself?
Written by Attorney Amelia Niemi.
Updated August 1, 2023
This article will explain how credit reports and credit scores work and provide some simple but effective steps you can take that will help improve your credit score. You probably won’t be able to go from a 550 to a 800 credit score overnight but there are definite steps you can take that will help you repair your credit by yourself, without needing to hire a credit repair company.
Read More →Why Is LVNV Funding Calling Me?
Written by Lawyer John Coble.
Updated August 21, 2024
LVNV is a third party debt buyer. It buys charged-off debts from the original creditors such as credit card companies for pennies on the dollar. Even though these companies only pay pennies for these debts, they are able to collect the full amount of the debt.
Read More →Bankruptcy for Senior Citizens
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 8, 2023
Filing any bankruptcy can be a complicated process but filing bankruptcy as a senior citizen can be especially challenging. This article will discuss when bankruptcy may be right for seniors, the types of bankruptcy and debt relief alternatives to filing for bankruptcy.
Read More →Can a Credit Card Company Sue Me if I Stop Paying?
Written by Attorney Tina Tran. Legally reviewed by Attorney Paige Hooper
Updated August 21, 2024
Yes, a credit card company can sue you if you stop paying your bills. Typically, credit card companies will contact you several times before escalating the matter to legal action or charging off the debt to a debt collection agency. Though there’s no set timeline, you can expect legal action after six months of nonpayment. While there are no guarantees, you’re less likely to be sued if you owe less than $2,000.
Read More →Can A Judgment Creditor Take My Car?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 11, 2020
Once a creditor files a lawsuit and is awarded a judgment by the court, it has several options to satisfy its debt. It can garnish wages or levy a bank account. It can also obtain a judgment lien and place it on real property such as a house or even personal property such as an automobile. This article will explain your options and how you can use them when a so-called judgment creditor files a lien on a motor vehicle.
Read More →Can My Spouse Be Pursued for My Debts?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated January 27, 2022
A judgment is a court order declaring that you do owe the debt and must repay it. How all of this can affect your spouse, if you are married, largely depends on whether you reside in a common law or community property state and the judgment-debtor laws of your state.
Read More →Can an Employer Deny Me a Job Because of My Bad Credit?
Written by Attorney Kassandra Kuehl.
Updated May 19, 2022
In the majority of states, employers can deny you employment if you have bad credit. Some states and cities have passed laws that prohibit the practice, though there are some exceptions, such as for jobs in the financial sector. Employers must get your written consent before they run a credit check as part of the hiring process. Having certain negative items on your credit report may not hurt your chances for all jobs.
Read More →Will I Go to Jail for Not Paying My Debts?
Written by Attorney Kassandra Kuehl.
Updated August 10, 2023
You can't be thrown in jail for not paying your credit cards and it's illegal for collection agencies to threaten you with jail time over the phone. Don’t be intimidated by such threats; be proactive, know your rights under the FDCPA, and research your debt relief options, such as credit counseling and Chapter 7 bankruptcy.
Read More →Can My Social Security Disability Benefits Be Garnished?
Written by Attorney Andrea Wimmer. Legally reviewed by Attorney Paige Hooper
Updated October 28, 2024
Social Security Disability Income (SSDI) benefits are generally protected from garnishment, which means creditors can’t take this money to pay off most debts. But, there are some exceptions. Your SSDI benefits can be garnished to cover unpaid child support, alimony, federal taxes, or federal student loans.
Read More →Will My Debt Disappear After 7 Years
Written by Attorney Kassandra Kuehl.
Updated August 18, 2021
The idea that if debt remains unpaid for 7 years it will simply disappear is a myth in the United States. If you’re under the impression that your unpaid debts will disappear after a 7 year period, you’re certainly not alone.
Read More →Debt Collection Basics: Can I Pay Off Debts in Collection?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 5, 2023
Learn how to tell if your debt is in collection, how you can use a payment plan to pay off your past-due debt and what steps you can take to stop stressful collection account activity.
Read More →Can I Fix Negative Information on My Credit Report?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated April 19, 2024
This article will explain how to get your credit report and what types of information — positive and negative — will appear on your report. We'll also talk about how to fix your credit report when misinformation appears on your credit history.
Read More →Can a Debt Collector Take Me to Court?
Written by Attorney Karra Kingston. Legally reviewed by Attorney Paige Hooper
Updated April 19, 2024
Yes, debt collectors can take you to court for unpaid debt. But this won’t be their first move. Debt collection agencies will first call you and send notices in the mail to try to collect on unpaid debt. It’s common for debt collectors to make several attempts over a period of many months to collect a debt before they decide to sue you.
Read More →Can a Creditor Garnish or Levy My Social Security?
Written by Attorney Paige Hooper.
Updated October 26, 2022
Approximately 70 million people receive some sort of Social Security income each month, including almost 90% of Americans age 65 or older. In other words, Social Security payments play a vital role in our society. These important benefits are usually protected from creditors, but there are a few exceptions. This protection is sometimes, but not always, automatic. This article covers which benefits are automatically protected and how you can protect those that aren’t. It also covers the exceptions to the rule — situations in which Social Security benefits aren’t protected. Finally, it explains how bankruptcy could be an alternative way to protect your Social Security income.
Read More →What Happens if I Don’t Pay an Unsecured Loan?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated May 21, 2024
Unsecured debt is any debt that isn’t backed by collateral. The most common types of unsecured debt are credit card debt, student loans, personal loans, cash advances, medical debt, retail store accounts, and money borrowed from family or friends. If you default on unsecured debts, the lender can send your account to a collection agency, which can lead to stressful phone calls and notices, a lowered credit score, and more difficulty getting new credit in the future.
Read More →Can I Settle a Debt After a Lawsuit Has Been Filed?
Written by Attorney Jenni Klock Morel.
Updated August 21, 2024
Yes, you can settle a debt even if a lawsuit has already been filed against you. Some lenders may allow you to pay off your debt through either a repayment plan or partial lump-sum settlement. Either way, ignoring a debt is not a good option. It will only create more issues in the future. It can feel overwhelming to be served with a debt lawsuit. But remember, you’re not alone and you have options.
Read More →What Do I Do About My Car Payment That Is Way Too High?
Written by Lawyer John Coble.
Updated August 1, 2023
If you're like most people, you had to take out a loan to buy your car. Car loan payments usually rival health insurance, student loans, and housing payments for the highest expenses. This article will cover your options to reduce your car payment with or without bankruptcy.
Read More →What Is Unsecured Debt?
Written by Attorney Amelia Niemi.
Updated June 15, 2023
Simply put, unsecured debt is any type of you debt you have that isn't backed by collateral. The most common types of unsecured debts are credit card debts, medical bills, and personal loans. If you don't pay these debts (called defaulting), the creditor or lender doesn't have anything it can come collect to help repay the debt. By contrast, secured debt is backed by collateral. The two most common types of secured debt are mortgages and car loans. If you default on your home or car loan, the lender can seize the collateral (the home or car), to help repay your debt.
Read More →How Settling a Credit Card Debt Affects Your Credit Score
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated September 15, 2020
Settling a credit card account will resolve your debt, but before you commit to this course of action, please read on to learn more about the negative impacts a debt settlement will have on your credit score, alternative debt-relief options, and how you can turn debt relief into a positive opportunity to rebuild your credit over time.
Read More →Will a Judgment Creditor Take My Car?
Written by Attorney Karra Kingston.
Updated October 8, 2021
The short answer to the question, “Can a judgment creditor take my car?” is “Maybe.” Generally, creditors will only take a vehicle if your car has value.
Read More →What Is the Process of a Nonjudicial Foreclosure?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated December 3, 2021
Most states allow nonjudicial foreclosures, which permit states to proceed with foreclosure sales without first obtaining a court order. Because nonjudicial foreclosures are much faster and less complex, homeowners don’t have as much time to defend against these actions.
Read More →9 Steps to Get Out of Credit Card Debt
Written by Attorney Andrea Wimmer.
Updated August 28, 2020
You can use the avalanche or snowball method to pay off your credit card debt, but if your debt is more than you can pay, take time to learn about the different debt-relief options available to you.
Read More →What Is a Judgment and What Do I Do About It?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated September 29, 2023
A judgment is a court order. If a creditor obtains a debt-related judgment against you, it allows them to recover the debt. Consumer and personal debt from medical bills, car loans, credit cards, back rent, student loans, IRS debt, child support, and other overdue financial obligations can result in a judgments if you get sued for the debt and the creditor wins the lawsuit. These judgments can be structured as a monetary judgment or a judgment lien against property. Filing for bankruptcy can help you prevent, pause, or even stop, certain judgments, including wage garnishments and bank account levies.
Read More →What Is a Deficiency Judgment?
Written by Curtis Lee, JD.
Updated August 4, 2023
A deficiency balance is the amount needed to pay off the remaining mortgage debt after a foreclosed property is sold. Basically, it means there wasn't enough money from the sale to fully pay off the mortgage loan amount. If the lender gets court approval to collect this money from you, this is called a deficiency judgment. Deficiency balances are common following foreclosure sales. If your home was foreclosed on and sold, the mortgage company may pursue you to get you to pay the deficiency balance. But this will depend on the amount of the deficiency and state law.
Read More →What Personal Property Can Be Seized After a Judgment?
Written by Attorney Andrea Wimmer.
Updated July 19, 2023
If a creditor sues you to collect on an unpaid debt and wins, they'll get a court judgment against you. This court order allows them to collect on the debt by seizing your real or personal property (or putting a lien on it), garnishing your wages, or levying your bank account. Personal property includes everything from household goods to vehicles. Real property includes things like your home or land. Though creditors can legally seize real and personal property that isn’t covered by an exemption, this isn't common because it can be costly for creditors. It's more common for creditors to use wage garnishment or a bank account levy.
Read More →Secured Credit Cards and Bankruptcy
Written by Attorney Paige Hooper.
Updated July 25, 2023
A secured credit card is backed by a cash deposit that serves as collateral. If you file bankruptcy, you won’t be able to keep regular, unsecured credit cards, but you may be able to keep a secured card. That’s because secured and unsecured debt is treated differently in bankruptcy. Secured cards are also a great way to rebuild your credit after a bankruptcy filing.
Read More →Can I Discharge Private Student Loans in Bankruptcy?
Written by Attorney Andrea Wimmer.
Updated August 22, 2023
Filing bankruptcy can help you get rid of private student loans, but they are harder to get rid of than other kinds of debts. To have your private student loans discharged you will need to prove that your loan was a qualified education loan and that paying off the loan would cause you “undue hardship.” You prove undue hardship as part of an adversary proceeding. This is an additional proceeding on top of your bankruptcy case. For private student loans, these proceedings are run a lot like a civil lawsuit. To file bankruptcy on private student loans successfully, many people chose to hire a bankruptcy attorney.
Read More →Payday Loans and Bankruptcy
Written by Attorney Jenni Klock Morel.
Updated July 26, 2023
Payday loans are short-term loans with very high interest rates that are due on the borrower's next payday. Learn how bankruptcy can help you get out of the impossible cycle created by payday loans.
Read More →Judgments: How Long Do They Last and Will Bankruptcy Help?
Written by Attorney Jenni Klock Morel.
Updated July 10, 2023
When a creditor wins a lawsuit against you, the court issues them a judgment. This allows them to take serious collection actions like wage garnishment. The length of time the judgment is enforceable varies depending on the state you live in. In some states, it’s as short as five years, and in other states, it’s as long as 20 years. Judgments can also often be renewed. If you can’t afford to pay a judgment against you, filing bankruptcy can help eliminate the judgment.
Read More →How To Dispute a Debt You Don’t Owe
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated October 10, 2023
If you’re contacted about a debt you don’t owe, you’ll want to dispute it with the creditor or debt collector. Often these consumer debts are also incorrectly reported to the three major credit bureaus, so you’ll want to check your credit report, too. You can also send a dispute letter to the credit bureaus asking them to remove incorrect information. Here are the four basic steps to dispute a debt you don’t owe: 1. Ensure the debt collector has validated the debt. 2. Send a dispute letter (or the tear-off portion of the debt validation letter, which allows you to easily start the dispute process). 3. Check your credit report and send a credit dispute letter or notices of dispute to any reporting agency with inaccurate information. 4. Follow up if/as needed until the matter is resolved.
Read More →Does Bankruptcy Affect Child Support?
Written by Attorney Andrea Wimmer.
Updated September 29, 2020
Whether you’re receiving or paying child support, a bankruptcy filing will not affect it. If you’re owed back child support, it’s an asset. If you’re the one paying child support and owe an arrearage, it’s considered an unsecured priority debt that is not dischargeable.
Read More →Overdraft Protection and Bankruptcy
Written by Attorney Andrea Wimmer.
Updated October 30, 2020
Whether you'll lose your overdraft protection depends on the type of protection you have.
Read More →Unemployment Overpayment & Bankruptcy
Written by Attorney Andrea Wimmer.
Updated August 24, 2021
If you’ve been notified that you’ve received an overpayment of unemployment benefits, you’re probably wondering whether this will impact your bankruptcy. Here’s what you need to know.
Read More →Can I Reaffirm My Mortgage in a Chapter 7 Bankruptcy?
Written by Attorney Serena Siew.
Updated April 15, 2021
The reaffirmation of mortgage debts is possible in Chapter 7 bankruptcy but it's not necessary. Learn what a reaffirmation agreement is how it affects your home mortgage.
Read More →Can You Remove Student Loans From Your Credit Report?
Written by Attorney Jenni Klock Morel.
Updated April 7, 2023
If the information about your student loan on your credit report is accurate, you can’t have that information removed. It will eventually drop off your credit report, and as it ages, it will impact your credit less and less. It can take 7–10 years for student loans to be erased from your credit report. Defaulted student loans take seven years to be removed from your credit report while paid-off student loans may stay on your report for 10 years.
Read More →Mortgage Rights After The Death Of A Spouse
Written by Attorney Paige Hooper.
Updated November 6, 2021
When your spouse dies, mortgage debt doesn’t just disappear. Learn what you can expect regarding your home and mortgage after your spouse has passed away, and find answers to many common questions, such as who inherits the house, what happens to the mortgage, what rights and protections you have, and what a reverse mortgage is and how it works.
Read More →How Will Foreclosure Affect My Credit?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated November 6, 2021
In this article, we’ll help you understand what you can do to avoid foreclosure, how a foreclosure will affect your credit if this process is unavoidable, and how you can save your credit score from dipping lower than necessary. We’ll even give you some tips on how to fix your credit after foreclosure.
Read More →Mortgage Forgiveness Debt Relief Act
Written by Natasha Wiebusch, J.D..
Updated May 15, 2023
Before Congress passed the Mortgage Forgiveness Debt Relief Act of 2007 (MFDRA), struggling Americans had to pay additional taxes on debt forgiven due to foreclosure. Because of the strain of these additional taxes, taxpayers usually faced even greater financial troubles than had caused them to face foreclosure in the first place. The MFDRA is a unique law, and only applies to certain forgiven or canceled debt. This article explains how the MFDRA works and what kinds of debt it covers.
Read More →How To Dispute or Reduce Expensive Medical Bills
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 9, 2023
Even if you have health insurance, deductibles, copays, and non-covered services can add up quickly. Without health insurance, medical bills become unmanageable fast. Some people don’t realize you can negotiate medical bills. Also, billing mistakes can lead to overcharges. Here are some tips for dealing with expensive medical bills: - Compare your itemized bill to your insurer’s explanation of benefits - Ensure you were charged for the correct services and dispute errors - If your insurer denies a claim for services that should be covered, appeal the decision - Ask for financial assistance from the provider and explore community resources - Negotiate your medical bills by offering payment - Know your rights around surprise medical bills - Don’t use credit cards to pay medical bills (to avoid mounting interest/fees and consequences to your credit)
Read More →How Mortgage Relief Programs Can Help You
Written by Attorney Cody J. Harding.
Updated November 25, 2021
Mortgage relief programs are available to assist those who are struggling to make payments on their home loans. These programs are usually developed in response to significant downturns in the economy. In recent decades, the federal government has expanded protections for borrowers and developed more programs to assist struggling homeowners. With the impact of the coronavirus pandemic, both federal and state governments have added more protections very recently.
Read More →Mortgage Grace Period: What It Means For You
Written by Attorney Cody J. Harding.
Updated August 10, 2023
Though your mortgage is tied to an exact monthly payment date, all mortgages provide some flexibility. Most mortgages are due on the 1st of the month. But you can usually make your home loan payment by the 15th of the month without incurring any fees, or being subjected to negative reporting on your credit history. This flexibility is called a grace period. Below, we explain grace periods in more detail and reflect on why they should matter to you.
Read More →Short Sale vs. Foreclosure: What’s the Difference?
Written by Curtis Lee, JD.
Updated October 24, 2021
If you’re a homeowner who is unable to make your mortgage payments, you might be facing the potential of foreclosure. One common method of avoiding the foreclosure process is a short sale. What exactly is a short sale and how is it different from a foreclosure? Are there any reasons to choose one instead of the other? And are there any ways to avoid foreclosure besides short sales? The following piece will answer those questions and offer additional information helpful to those who have fallen behind on their mortgage payments.
Read More →Help! I’m in Debt and I Need Relief!
Written by Curtis Lee, JD.
Updated August 10, 2023
If you’re struggling to successfully manage your debts, you should know that you’re not alone. Whether it’s student loans, medical bills, or credit card debt, there are several debt relief options available. Each option has its advantages and disadvantages and they don’t all work for all kinds of debts or all borrowers.
Read More →Ways That Student Loans Can Affect Your Mortgage
Written by Attorney Paige Hooper.
Updated September 6, 2023
Homeownership is a major life goal for many people. In recent years, though, economic challenges have prevented many people from pursuing this goal. Student loan debt is often cited as a reason why so many people are waiting longer than ever to buy a home.
Read More →Getting Out Of Medical Debt
Written by Attorney Kimberly Berson.
Updated August 10, 2023
Medical debt can sometimes seem overwhelming, but there are things you can do to resolve it. Learn how medical debt can affect you in the long run, how to negotiate and set up a repayment plan, and what forms of assistance could help you pay for medical costs. Also, find out if filing for bankruptcy could help you to discharge your medical debt.
Read More →Second Mortgage & Foreclosure
Written by Attorney Serena Siew.
Updated July 28, 2023
Facing foreclosure on your home can feel devastating enough with only a single mortgage. If you have a second mortgage on top of that, your financial situation could feel even more precarious. In this article, you will learn about the differences between a first and second mortgage, what you can expect to happen if your house is foreclosed by the bank while you still owe a balance on a second mortgage, and what to do if you're facing a lawsuit from a second mortgage holder.
Read More →3 Things to Know About Acceleration Clauses
Written by Attorney Tori Bramble.
Updated May 11, 2023
An acceleration clause means that if you break any terms of your mortgage contract, your lender can fast forward your mortgage payments and require you to pay your mortgage in full, all at once. In other words, the acceleration clause lets the bank demand the full balance due (plus late payments, interest payments, etc.) if you miss a certain number of mortgage payments. Here’s what real estate buyers and owners should know about a mortgage acceleration clause, including what starts it and how to avoid this scary situation from happening.
Read More →Should I Take A Bailout Loan To Stop Foreclosure?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 25, 2023
A foreclosure bailout loan might look like the perfect solution at a glance, but it has downsides, too. Bailout loans, also known as hard money loans, tend to have high interest rates. They may also require the borrower to refinance again within a few years. If you’re considering a bailout loan to stop foreclosure, make sure that you understand your options and their potential impacts on you, your finances, and your family.
Read More →Help! A Creditor Has a Judgment Against Me!
Written by Curtis Lee, JD.
Updated July 20, 2021
If you have outstanding debt, it could lead the creditor to sue you and if the lawsuit results in a judgment, they become a judgment creditor. In that case, you become a judgment debtor. But what exactly is a judgment and what does that mean for you? The purpose of this article is to answer that question. We’ll also provide an overview of civil judgments and collection efforts, especially those arising from debt collection litigation.
Read More →Debt Lawyers: Who Are They & What Do They Do?
Written by the Upsolve Team. Legally reviewed by Attorney Paige Hooper
Updated September 21, 2023
As a consumer, you have certain legal rights and protections. These rights extend to your interactions with debt collectors and collection agencies. If you’re being harassed by a debt collector, you can hire a debt lawyer to help you understand and defend your rights. These attorneys can also help defend you against debt collection lawsuits. If you just need help figuring out what to do about overwhelming debt, a debt settlement lawyer can explain your debt relief options and help you pursue them successfully.
Read More →Debt Relief Programs
Written by Lawyer John Coble.
Updated August 1, 2024
There are many potential debt management solutions, including credit counseling, debt management plans, debt consolidations, debt settlements, and bankruptcy. Read more to learn about these various debt management solutions, how to avoid debt relief scams, and how your credit report will be impacted by various debt relief options.
Read More →How To Pay Off Collections: A Complete Guide
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated April 19, 2024
Here's how to pay off a debt in collections: Step 1: Know Your Rights Step 2: Respond to the Debt Collector or Collection Agency Step 3: Verify the Debt Step 4: Check the Statute of Limitations in Your State Step 5: Review Your Budget & Make a Payment Strategy Step 6: Get Your Agreement in Writing Step 7: Check Your Credit Report If you're struggling to repay several debts, it may be time to look into Chapter 7 bankruptcy. Filing Chapter 7 stops all collections activities (thanks to the automatic stay) and can erase most types of consumer debt.
Read More →Debt Relief for Seniors: Financial Aid Options
Written by Lawyer John Coble.
Updated August 8, 2023
Being in debt as a senior citizen is a bigger issue than being in debt at a younger age. Whether you are saving for retirement or have already retired and are trying to make ends meet on a fixed income, time is of the essence when it comes to resolving debt at this age. This article will explore bankruptcy as a potential solution for helping senior citizens eliminate debt, as well as other debt-relief, debt management, and financial assistance options.
Read More →Going Debt-Free: Debt Avalanche Method
Written by Attorney Serena Siew.
Updated December 8, 2021
There are many strategies for getting out of debt. One strategy you can use is the debt avalanche method. In this article, we’ll discuss the debt avalanche method, the snowball method, and other debt relief options so that you can decide which one is best for you.
Read More →Pros and Cons of Debt Consolidation Using Home Equity
Written by Attorney Kimberly Berson.
Updated October 8, 2021
Tapping into your home equity to consolidate your debt is an important financial decision. Borrowing from your home equity to consolidate your debt to one monthly payment at a lower interest rate may seem like a win-win situation. But, there are serious disadvantages too. If you run into trouble making the monthly payments on your home equity loan, you risk losing your home. So, before taking this step, review the pros and cons of a home equity loan to see if this is the best option for you.
Read More →When Will a Debt Collector Sue for Unpaid Debt?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated December 18, 2023
Though there's no standard timeline, you may be most at risk of a debt collection lawsuit after six months of not paying your debt. If you stop making timely payments on a debt, your creditor will first attempt to collect it by sending you notices of nonpayment. This may go on for several weeks before collection attempts intensify. Eventually, the creditor may charge off the debt to a third-party collection agency. If the debt collector can’t successfully collect the debt, you may be at risk of a lawsuit.
Read More →Debt Collector Scams: How To Spot and Avoid Them
Written by Attorney Serena Siew. Legally reviewed by Attorney Paige Hooper
Updated August 17, 2023
If someone calls you about a debt and doesn’t identify themselves, asks for payment via wire transfer, demands personal information, or calls at odd hours, these are red flags that indicate the caller is a scammer. You can protect yourself by keeping a record of all communication, reporting them, and notifying your real creditor.
Read More →Why You Should Always Pay More on Your Credit Card than the Minimum Payment
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 30, 2021
A credit card minimum payment is simply the minimum amount of money you must pay each month to remain current on your debt. Making the minimum payment doesn’t do much to help you get out of debt and can actually lead to some pitfalls that will keep you in debt longer. Read this article to learn what those pitfalls are and how to avoid them.
Read More →What To Do if Debt Collectors Threaten You With Legal Papers
Written by Attorney Kimberly Berson.
Updated August 30, 2023
Has a debt collection agency threatened you with legal papers? They hope this will scare you into paying up as fast as you can but is this threat real? What can you do if you can't pay the debt? Federal law limits actions that a debt collector can take. This article discusses what you can do if a debt collector has promised to start a debt collection lawsuit.
Read More →6 Steps to Becoming Debt-Free
Written by Natasha Wiebusch, J.D..
Updated August 10, 2023
Although it’s normal to have some debt, too much debt can keep you from paying it off. For many people, getting out of debt is challenging but manageable. We've assembled a list of six steps you can take that will help you to start working your way out, regardless of how much debt you're in.
Read More →How to Tackle Maxed-Out Credit Cards
Written by Natasha Wiebusch, J.D..
Updated July 30, 2021
Reaching your credit card limit without the ability to pay it off at the end of each month can have substantial financial consequences. Fortunately, there are things you can do to manage your credit card balances. This article will cover some of the downfalls of having high balances on your credit card debt as well as some of the things you can do to start tackling those maxed-out credit cards.
Read More →Should I Pay the Debt Collector or the Original Creditor?
Written by the Upsolve Team.
Updated August 1, 2023
If you’re able to do so, pay the original creditor before your debt goes to collections. Having a debt sent to collections will damage your credit score and may limit your options for repayment. In most cases, the original creditor will offer better repayment options than a debt collector will. However, if your debt has been sold to a debt buyer and the original creditor no longer owns it, you’ll need to pay the collection agency to clear up the debt.
Read More →Sent to Collections Without Notice? Here’s What To Do Next
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated October 21, 2024
Creditors can legally send your debt to a collection agency without notifying you first. In most cases, you’ll have some notice that your account is at risk of being sent to collections. Once a debt collector has your debt, they’re legally required to provide you with a written notice of your debt account before they first contact you or within five days of their first contact with you.
Read More →What is zombie debt and should I be concerned?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated July 30, 2021
Zombie debt is debt that you’re no longer legally obligated to pay. If the date of the last activity on the account happened so long ago that the statute of limitations has passed and the creditor is no longer allowed to file a lawsuit to make you pay the debt, it would be considered a zombie debt. But a misstep on your part, even an innocent one, can revive a zombie debt and put you back on the hook for paying it again. Read more to learn how this process works and how to protect yourself from debt collectors that could try to trick you into reviving zombie debts.
Read More →Which Debt Should You Pay Off First?
Written by Attorney Eric Hansen.
Updated August 9, 2023
If things have been difficult for you with your debts, you might find that following a proven debt payoff strategy is just the thing you need to become debt-free. This article covers a few different methods to pay off debt and other things to be mindful of when you’re getting strategic about becoming debt-free.
Read More →Debt Forgiveness: The Options & Consequences
Written by Attorney Tina Tran.
Updated August 20, 2024
Debt forgiveness is when one of your lenders forgives or erases some or all of your debt. This debt could be from a credit card, a student loan, or an installment loan. Sometimes you can get a full debt forgiven, but more often, you’ll get partial forgiveness. For example, if you come to a debt settlement agreement with a credit card company, you agree to pay part of your outstanding debt in exchange for having the rest of the debt erased. With many student loan forgiveness programs, you must pay a portion of your debt for a certain period of time before you get the remaining balance forgiven.
Read More →6 Strategies That Can Help You Become Debt-Free
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 4, 2021
Living debt-free will improve your credit score and expand your opportunities for housing and jobs. It doesn’t take long to accumulate debt, but it can take time to pay it down. Keep reading to learn the steps and strategies you can use to get started on your way to a debt-free life.
Read More →Which Debt To Pay Off First?
Written by Curtis Lee, JD.
Updated August 16, 2023
If you’re looking to pay off debt, there’s a good chance you have more than one to choose from. So which debt do you focus on first? There are many factors to consider, such as interest rates, debt size, and type of debt. Another important factor is the status of your personal finances. This article will examine these factors, how they affect which debt you should pay off first, and identify some strategies to help you pay off your debts.
Read More →9 Strategies You Can Use To Pay Off Debt
Written by Curtis Lee, JD.
Updated August 16, 2021
We all want to get rid of our debts, but paying them off soon isn’t a practical option for many of us. Having a solid strategy can help you make progress with your debts and regain control of your finances. But some strategies work better for some types of debt than others. Here are nine strategies you can use to get started with paying down your debt faster.
Read More →12 Easy Strategies To Build Credit Without a Credit Card
Written by Mark P. Cussen, CMFC.
Updated September 17, 2021
Using a credit card is not the only way to build your credit. Many companies can report your payment history to the major credit bureaus, including lenders for your auto loan or mortgage, as well as any utility companies that bill you monthly. You can also build your credit over time by taking advantage of certain lending opportunities. Here are 12 easy ways to build your credit to get you started.
Read More →Debt Settlement Basics: What You Need to Know
Written by Mark P. Cussen, CMFC.
Updated August 1, 2024
In most cases, debt settlement should only be considered as a last resort or at least the last possibility before declaring bankruptcy. This article explains what debt settlement is and will help you decide when you’d want to do it yourself and when it may make more sense to hire a professional to do it for you.
Read More →9 Things a Solid Debt Settlement Agreement Should Have
Written by Mark P. Cussen, CMFC.
Updated July 10, 2023
If you’re struggling to pay a debt and your account is in default, you can try to negotiate a debt settlement agreement with your creditor. If a creditor does agree to negotiate a debt settlement agreement, it's important to get the details right before signing a binding contract. This article will explore when to consider a debt settlement agreement, how long the process takes, how it affects your credit score, and what an agreement should contain.
Read More →6 Strategies To Negotiate Your Credit Card Debts
Written by Attorney Tori Bramble.
Updated August 8, 2023
Whether you have a good credit score or a bad one, it’s possible to negotiate with credit card companies to lower your credit card debt. If you have a good credit score, creditors are usually not eager to help you negotiate your credit card debt because they think you can pay your debt. But if you’ve missed payments and the credit card issuer fears you may not pay them back in full, they may be willing to help you negotiate your balance. In this guide, you’ll learn how to negotiate credit card debt. We'll give actionable tips for folks who have a good credit score. Then we’ll provide credit card negotiation strategies that you can use if your credit score is not that good anymore.
Read More →Debt Consolidation: What Is It & How Does It Work?
Written by Natasha Wiebusch, J.D..
Updated August 1, 2024
Debt consolidation involves combining multiple debts into a single payment. If you can secure a lower interest rate and you can make the new single monthly payment, debt consolidation can be a great debt relief strategy. But there are also drawbacks to debt consolidation. In this article, we’ll help you understand how debt consolidation works so that you can decide whether it’s a good choice for you.
Read More →How Does Payday Loan Consolidation Work?
Written by Lawyer John Coble.
Updated June 6, 2023
Payday loans are rarely a good idea. These loans are easy to get since there’s usually not a credit check, but they’re hard to get out of. Few people are able to pay off these loans on the next payday. Usually, it takes several paydays to pay off one of these loans, which can put you into a negative cycle of increasing debt. A payday loan consolidation is one option for payday loan relief. Even if you’re paying 30% interest on the consolidation loan, that’s better than paying 400% on the payday loan. This article will discuss how to use lower-interest personal loans to consolidate payday loans and other debt-relief options if you’re struggling to repay payday loans.
Read More →Debt Consolidation Programs: How Helpful Are They?
Written by Natasha Wiebusch, J.D..
Updated October 19, 2021
Making late payments, paying the wrong amounts, or missing payments altogether can have a negative impact on your credit score and overall financial health. If you have no other debt-relief options, debt consolidation programs can help by bundling certain debts into a single account so that instead of making multiple payments every month, you’ll make just one. There are many kinds of debt consolidation programs. There are also other forms of debt relief that might be better for you. In this article, we’ll cover what a debt consolidation program is, how it works, and how to choose one.
Read More →When I Die, Will Someone Have To Pay My Credit Card Debts?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated September 20, 2021
In most situations, no one else is responsible for your credit card debt after you die. There are two exceptions. A joint account holder will usually be responsible for credit card debt, even if the charges were yours. And your surviving spouse may be responsible if you live in a community property state. Otherwise, only your estate is responsible for the debt. Unfortunately, the way this plays out may be a little more complicated. Read on to learn more.
Read More →How To Get a Debt Consolidation Loan if You Have Bad Credit
Written by Curtis Lee, JD.
Updated July 25, 2023
If you’re struggling to pay off your debt, there are various forms of debt relief available. One common type is debt consolidation, combining two or more debts into a single account to make the debts easier to manage and to save money on interest payments. But, getting a debt consolidation loan can be difficult if you don’t have good credit or a high FICO score. That said, there are still multiple debt consolidation loan options for you to consider. Read on to learn more.
Read More →Debt Management Plan or Debt Settlement: Which Is Better?
Written by Curtis Lee, JD.
Updated August 1, 2024
If you have mostly credit card debt (or other unsecured debts), you can afford to make regular payments, and you're looking to rebuild your credit, a debt management plan might be the way to go. If you have unsecured debts that are already in collections, need a quicker solution, and are able to make a lump-sum payment, debt settlement could be a good option. Keep in mind: Every person’s situation is different, and it’s important to understand the positive and negative consequences of the debt relief option you ultimately choose.
Read More →The Debt Settlement Agreement Letter: Your Legal Contract
Written by Mark P. Cussen, CMFC.
Updated December 9, 2021
If a lender agrees to settle a debt for less than what you owe, you need to get the details in writing for the agreement to be binding. This is especially important because many debt settlements happen via telephone. A debt settlement agreement letter is a tool you can use to do this. It must include key information about you, your account, your lender, and the repayment terms you've agreed to.
Read More →Pros & Cons of Debt Settlement
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 1, 2024
There are pros and cons to most financial decisions. And debt settlement is no exception. Debt settlement helps you pay off old debt, but it can also hurt your credit score. You need a good credit score to get a credit card, auto loan, mortgage, and sometimes even a job. How are you supposed to get ahead if paying off your debt sets you further behind? In this article, we’ll take a closer look at the pros and cons of debt settlement, so you can decide what’s best for you.
Read More →Prepayment Penalties: What You Need To Know
Written by Mark P. Cussen, CMFC.
Updated September 22, 2021
If you’re working diligently to pay off your debt early, you may be unpleasantly surprised to find out about prepayment penalties. Some lenders charge these fees when borrowers pay off their debts before their loan term expires. These penalties are designed to discourage borrowers from paying off their loans early. Some kinds of loans have prepayment penalties while others do not. Here’s what you need to know about prepayment penalties and how they can affect you.
Read More →5 Strategies To Pay Off Debt Fast
Written by Attorney Tori Bramble.
Updated July 28, 2023
You may be able to get out of debt faster than you think! How? Here are five ways: - Focus on paying off high-interest debt first. - Find a side hustle to increase your income. - Reduce your biggest expenses like housing and transportation or see if you qualify for assistance programs. - Use a balance transfer to get a 0% APR period and pay your debt down aggressively - Discharge your debt through bankruptcy (yes, even if you have student loans!).
Read More →How Debt Settlement Impacts Your Taxes
Written by Attorney Eric Hansen.
Updated October 5, 2021
When you settle a debt with a creditor, you pay less than what you owe. The remaining amount is forgiven debt — also called canceled debt — which is often counted as taxable income. Debt settlement can make your tax returns more complicated or increase the taxes you owe. This article will discuss debt settlement and how forgiven debt affects your taxes. Understanding the tax implications of canceled debt will help you be better prepared to negotiate debt forgiveness with your creditors. It’ll also help you understand how to prepare your tax returns correctly.
Read More →Comparing Recourse and Non-Recourse Mortgage Loans
Written by Attorney William A. McCarthy.
Updated October 6, 2021
Are your assets at risk when you enter into a mortgage to buy a home? If your loan is a recourse loan, the bank can take the collateral used to secure the loan (the real estate, for example) as well as your assets if you default on the loan. If your mortgage is a non-recourse loan, the bank is limited to the collateral used to secure the loan. Each type of loan is unique and understanding the difference can help you find the right loan and save you a lot of money.
Read More →What Is a Foreclosure Deficiency Judgment & How Does It Work?
Written by Curtis Lee, JD.
Updated October 12, 2021
A deficiency judgment is a court order granting a lender the right to collect a deficiency balance. A deficiency balance is the amount of money a borrower owes a lender even after the lender has foreclosed on the borrower’s home. This can occur if the property is worth less than the balance on the mortgage loan.
Read More →How To Protect a Non-Borrowing Spouse in a Reverse Mortgage
Written by Lawyer John Coble.
Updated October 12, 2021
One of the most common problems with reverse mortgages has been foreclosures on the non-borrowing spouse (NBS) after the borrower leaves the home. This article focuses on how to protect a spouse that’s not on a reverse mortgage.
Read More →Short Payoff and Short Sale: They Are NOT the Same
Written by Attorney Aan Malahia Chaudhry.
Updated October 18, 2021
The terms short payoff and short sale are sometimes used interchangeably. But they’re not the same thing. In both scenarios, the home’s market value is less than what the homeowner owes on the mortgage, but each is used in different scenarios and has different consequences. This article with dive into both of these topics.
Read More →Factors Contributing to Debt Consolidation Loan Rates
Written by Curtis Lee, JD.
Updated July 28, 2023
Choosing the best debt consolidation method requires you to take several things into consideration. For instance, are you looking for a fixed-rate loan or balance transfer? Or how long do you want to keep the debt consolidated? These are all questions you should be able to answer by the time you’re ready to start your application. Below is a guide that can help you decide which loan or balance transfer method will work best for your situation.
Read More →You May Want To Think Twice Before Cosigning a Loan
Written by Attorney Todd Carney.
Updated October 20, 2021
If you're thinking about cosigning to help someone get a loan, you'll want to do everything possible to protect your good credit. Use these tips to help yourself if problems arise.
Read More →The Pros and Cons of Debt Consolidation
Written by Attorney William A. McCarthy.
Updated October 20, 2021
Debt consolidation is a popular option for fixing your credit problems because it lowers the payment of one large, monthly bill. If your current debt repayment plan isn't working for you, read our pros and cons of debt consolidation to help you decide if this option could be right for you.
Read More →Understanding the Assignment of Mortgages: What You Need To Know
Written by Attorney Todd Carney.
Updated November 26, 2021
A mortgage is a legally binding agreement between a home buyer and a lender that dictates a borrower's ability to pay off a loan. Every mortgage has an interest rate, a term length, and specific fees attached to it.
Read More →Know Your Rights in the Foreclosure Process
Written by Attorney Paige Hooper.
Updated November 11, 2021
The foreclosure process can be long and complicated. There are different processes for different types of loans, but here’s a general look at what will happen if you default on your mortgage and your lender decides to foreclose.
Read More →Taking Over the Seller’s Mortgage With a Loan Assumption
Written by Chiara King.
Updated October 31, 2021
You may be able to get a lower interest rate and a smaller mortgage with a loan assumption, but you may be required to pay a higher downpayment. An assumable mortgage can be helpful to a seller when interest rates are high, but assumable loans tend to lose their appeal when rates are low.
Read More →What Are Mortgage Lenders and Mortgage Servicers?
Written by Attorney Paige Hooper.
Updated November 29, 2021
Whether you’re thinking about buying a home, refinancing an existing mortgage, or planning your next big investment, it’s important to understand how lenders and servicers fit into the mortgage process. This article will explain the differences between mortgage lenders and servicers so you can better prepare for your homebuying journey.
Read More →What Is Mortgage Deferral and How Does It Help Homeowners?
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 21, 2024
If you’re experiencing a temporary hardship and need a little breathing room on your mortgage payments, you may be able to get a deferral or you can ask your lender for a late fee waiver. A mortgage payment deferral is designed to help you get back on track so that you can keep making your payments on time.
Read More →Are Subprime Loans the Right Option for You?
Written by Attorney Todd Carney.
Updated November 11, 2021
Borrowers with poor or fair credit can't always secure conventional financing but are generally eligible for subprime loans. These loans tend to have high-interest rates and are harder to secure than standard loans. But, when they are the best option available, they can be the right choice for borrowers in need of credit.
Read More →What Is a Deficiency Balance?
Written by Attorney Todd Carney.
Updated July 7, 2023
A deficiency balance arises when the profits from a foreclosure sale are less than the amount owed on a mortgage. A lender who is owed this debt may pursue it by seeking a deficiency judgment from the court. It is possible for borrowers to negotiate repayment of these balances.
Read More →Payoff Statements: What They Are and How They’re Used
Written by Natasha Wiebusch, J.D..
Updated November 29, 2021
A payoff statement is a document that shows how much money a borrower must submit to fully pay off a loan. These statements differ from monthly account statements because they take into account interest, penalties, and/or benefits that could impact the overall balance before the "good through" date listed on the payoff letter.
Read More →What Happens if You Don’t Pay a Payday Loan?
Written by Attorney William A. McCarthy.
Updated November 19, 2021
Payday loans are easy to get and don’t usually require a credit check. But they have very high interest charges, which makes them difficult to repay. This can lead to a cycle of more and more debt. If you don’t repay the loans on time, you’ll face aggressive collection methods, additional fees, a potential court judgment, and damage to your credit score.
Read More →Subordination Agreements: Who Gets Paid First?
Written by Natasha Wiebusch, J.D..
Updated November 19, 2021
Subordination agreements assign the order of priority to who can collect on a debt and when they can collect. They come into play when borrowers default on their mortgage or declare bankruptcy. There are often subordination agreements for second mortgages or home loan refinancing.
Read More →Strategic Default: The Consequences of ‘Walking Away’
Written by Natasha Wiebusch, J.D..
Updated November 26, 2021
Homeowners who can afford to make their mortgage payments may choose to stop repaying their debt. This deliberate choice is called strategic default. Most of the time, strategic defaults occur when borrowers with underwater mortgages want to cut their losses. This approach leads to negative financial consequences and shouldn't be considered lightly.
Read More →How Different Types of Liens Are Affected by Foreclosure
Written by Chiara King.
Updated November 19, 2021
Liens secure debt by allowing the lienholder to take and sell your property if you don’t repay your debt. Lienholders can recover what they're owed by foreclosing on your property and selling it. Foreclosure sale proceeds are generally applied to liens in the order they appear in the public record, which means that lower priority lienholders may not get paid at all from a sale.
Read More →Writing a Debt Settlement Offer Letter
Written by the Upsolve Team. Legally reviewed by Attorney Andrea Wimmer
Updated August 1, 2024
It's usually most effective to negotiate a debt settlement over the phone with the debt collector. Once you negotiate a settlement, it's important to get the agreement in writing.
Read More →SBA Loan Default: What You Need To Know
Written by Attorney Aan Malahia Chaudhry.
Updated December 1, 2021
Small Business Administration (SBA) loans help small businesses and entrepreneurs get financing to start or grow a business. SBA loans often have more favorable terms than traditional financing options, but there can be severe penalties for defaulting. This article talks about the pros and cons of SBAs, the SBA loan default process, and how you can avoid defaulting on your loan.
Read More →50 Tips To Stretch Your Budget and Spend Less Money
Written by Natasha Wiebusch, J.D..
Updated December 2, 2021
You may not be able to stop spending money completely. But, you can create a manageable budget and learn to stretch that budget as far as it will go. This piece will show you how to accomplish both goals.
Read More →Can Secured Debt Be Discharged in Bankruptcy?
Written by Attorney Paige Hooper.
Updated July 25, 2023
Yes, most secured debt can be discharged in bankruptcy. In Chapter 7 cases, that means your personal liability for the debt is wiped out with the Chapter 7 discharge. But since secured debts are connected to collateral, you don't get to keep the collateral unless you pay the debt. To do so, you may need to reaffirm the debt. In Chapter 13, you repay secured debts through the repayment plan. In both cases, you can surrender the collateral, which means the debt is no longer secured.
Read More →What Is a Perfected Lien?
Written by Attorney Paige Hooper.
Updated September 2, 2022
A lien against your car or home shows that the lender has a security interest in the property. A perfected lien is a lien that has been properly legally recorded by the lienholder. Once a lien is perfected, the lienholder can enforce their legal right to the property if you fail to repay the loan. Perfected liens can affect you if you have secured debt (like a mortgage or car loan) when you file bankruptcy.
Read More →Breaking Down the True Cost of College: The Harsh Reality of Student Loan Debt in 2023
Written by Jonathan Petts.
Updated August 21, 2024
As of 2023, the average amount of student loan debt for a borrower with a bachelor's degree is over $35,000, which has increased sixfold in the last two decades. About 93% of all student loan debt comes from federal student loans, while the rest is from private loans. Although federal student loans offer various repayment options, including income-driven repayment plans, forbearance, and deferment, many borrowers still fall behind on payments, leading to delinquency or default status. The student loan debt crisis has far-reaching implications, affecting not only individuals but also the U.S. economy.
Read More →How To Respond to a Pennsylvania Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 3, 2024
In Pennsylvania, if a debt collection lawsuit has been filed against you, the first thing you need to do is file a Notice of Intention to Defend. You can do this by either calling your court or going in person. If you disagree with the claims against you, you can explain your defenses in your notice. Then, follow any instructions from the court you receive via court notices or ask the court clerk about next steps.
Read More →How To Answer an Alabama Debt Collection Court Summons
Written by Jonathan Petts.
Updated January 10, 2024
Answering a debt lawsuit is easier than you might think! You simply need to fill out an official court answer form, tell the court why you disagree with the lawsuit, and file the paperwork with the court. Then, you have to send a copy of your answer form to the person suing you. Finally, wait to get notice from the court about next steps. If you contest the lawsuit, the court will schedule a hearing date to hear both sides of the story.
Read More →Your Guide to Alabama’s Debt Collection Laws
Written by Jonathan Petts.
Updated January 10, 2024
If you live in Alabama, the federal Fair Debt Collection Practices Act (FDCPA) is your strongest protection against bad behavior by third-party debt collectors. This law prohibits harassment, deception, and other unfair practices during the debt collection process. The statute of limitations for credit card and medical debt is three years in Alabama.
Read More →Your Guide to South Carolina’s Debt Collection Laws
Written by Attorney Tina Tran.
Updated December 12, 2023
South Carolinians are protected by the state’s Consumer Protection Code, whose rules apply to both original creditors and third-party debt collection agencies. The CPC prohibits debt collectors from harassing you, deceiving you, or engaging in unfair practices when trying to collect on a debt from you. It also gives consumers the right to sue anyone who violates this law for damages or an injunction to stop or reverse the collection activity. The statute of limitations for credit card debt is three years in South Carolina.
Read More →How To Answer an Oregon Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated December 15, 2023
If you’re sued for a debt in Oregon, you’ll receive an official notice from the court. If you’re sued in small claims court, you need to respond to the notice and tell the court if you want a hearing or jury trial. If you’re sued in regular circuit court, you need to respond with an answer form that includes any affirmative defenses you may have. After responding in either situation, you must show up to required court appearances, which could be a hearing, mediation, or arbitration, depending on your case.
Read More →How To Respond to a Missouri Debt Collection Court Summons
Written by Jonathan Petts.
Updated January 22, 2024
If you get a summons and petition informing you that you’ve been sued for a debt in Missouri, you need to respond by following the court instructions on the summons form. This often means: 1. Drafting an answer form. 2. Addressing each of the debt collector’s claims against you. 3. Listing your defenses and affirmative defenses. 4. Filing your answer form with the court and serving a copy on the person suing you. You have 30 days to respond to a debt collection lawsuit in Missouri, but if your hearing date is before 30 days from the date on the summons, you might need to respond before your hearing date.
Read More →Your Guide to Missouri’s Debt Collection Laws
Written by Jonathan Petts.
Updated December 16, 2023
Missouri residents are best protected against debt collector misconduct by the federal Fair Debt Collection Practices Act (FDCPA). The FDCPA protects consumers against debt collector harassment, deception, and other unfair practices. In Missouri, the statute of limitations for open accounts — which often includes credit card debt — is five years. The statute of limitations for debts backed by written contracts is 10 years. This often includes medical bills.
Read More →Your Guide to Kentucky’s Debt Collection Laws
Written by Attorney Tina Tran.
Updated December 16, 2023
If you live in Kentucky, your main line of defense against debt collectors will be the Fair Debt Collection Practices Act (FDCPA). This federal law regulates third-party debt collectors and aims to prevent harassment, deception, and other unfair practices in the debt collection process. It also outlines certain things debt collectors are required to do, such as provide you with certain information about your debt.
Read More →How To Answer an Arizona Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 10, 2024
Responding to a debt lawsuit in Arizona is easier than most people realize. You respond by filling out a court-provided answer form, filing it with the court, and delivering a copy to the person suing you. The answer form is your opportunity to admit, deny, or say you don’t know about the claims against you. These claims are written out in the complaint form, which you’ll receive with a court summons that tells you you’re being sued and how long you have to respond to the case.
Read More →How To Answer a Kentucky Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 10, 2024
If you are sued for debt in Kentucky, the best thing you can do is respond and take action! If you are sued through circuit court or district court (not small claims), you need to file an answer within 20 days of receiving your summons and complaint. If you are sued through the small claims division of the district court, you don’t have to file an answer but you can file a counterclaim. Local rules vary from county to county, so it’s always best to check with your court to verify the best way to proceed with your case.
Read More →How To Answer an Illinois Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 3, 2024
If you’re sued in Illinois for debt collection, you must file an appearance if you’re sued for less than $10,000. To complete an appearance form, you will fill out your personal information, select which trial type you prefer (this is only a preference, not a guarantee), fill out the proof of delivery, e-file your forms with your court within 30 days (generally), then deliver a copy of the appearance on the plaintiff. A written answer is not required for debt collection lawsuits in small claims court cases in Illinois, but you can file one if you choose, though fees may apply. Filing an answer may help you prepare your defenses for trial and show the debt collector that you’re serious about asserting your rights. Procedures vary from county to county in Illinois, so it is always best to check with your court to verify what is required of you in a debt collection lawsuit.
Read More →Your Guide to Washington’s Debt Collection Laws
Written by Jonathan Petts.
Updated January 3, 2024
Washington has two state debt collection laws: the Washington Collection Agency Act (CAA) and the Washington Consumer Protection Act (CPA). Combined, these two laws provide important protections for state residents against original creditors, third-party debt collectors, and debt buyers. Washington residents get further protection from the federal Fair Debt Collection Practices Act (FDCPA). The statute of limitations for credit card debt and medical bills in Washington state is six years.
Read More →Your Guide to Tennessee Debt Collection Laws
Written by Attorney Tina Tran.
Updated March 25, 2024
When it comes to debt collection, Tennesseans are primarily protected by the federal Fair Debt Collection Practices Act (FDCPA). That said, Tennessee’s Consumer Protection Act does provide some consumer protections against misconduct that aren’t specifically outlined in the FDCPA. The Tennessee Consumer Protection Act also requires third-party debt collectors and debt buyers to register with the Tennessee Collection Service Board. The statute of limitations for medical debt and credit card debt is six years in Tennessee.
Read More →Your Guide to Pennsylvania Debt Collection Laws
Written by Attorney Tina Tran.
Updated January 10, 2024
Pennsylvania has two state debt collection laws: the Pennsylvania Fair Credit Extension Uniformity Act (FCEUA) and the Pennsylvania Unfair Trade Practices and Consumer Protection Law (UTPCPL). Combined, these two laws provide important protections for state residents against both original creditors and third-party debt collectors. Pennsylvanians get further protections from the federal Fair Debt Collection Practices Act (FDCPA) offered to all states. The statute of limitations for all debt contracts (including credit cards and medical bills) in Pennsylvania is four years.
Read More →How To Answer a Washington Debt Collection Court Summons
Written by Jonathan Petts.
Updated January 22, 2024
If you’re sued for a debt in the state of Washington, it’s important to respond! And it might be easier than you think. Here are the basic steps: 1. Fill out an answer and appearance form. 2. Complete a certificate of service form. 3. File your forms with the court within 20 days of receiving the summons. 4. Deliver a copy of your answer form to the person suing you.
Read More →How To Answer a South Carolina Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 22, 2024
If you’re sued for a debt in South Carolina, the most important thing you can do is respond! Here are the basic steps: 1. Fill out an answer form. 2. Note your defenses. 3. File your forms with the court within 30 days of receiving the summons. 4. Deliver a copy of your answer form to the person suing you.
Read More →How To Answer an Oklahoma Debt Collection Court Summons
Written by Attorney Tina Tran.
Updated January 10, 2024
If you’re sued for a debt in Oklahoma, the most important thing you can do is respond and take action. Your debt collection lawsuit will be heard in either a small claims court or district court. If your case is in district court, you need to fill out and file a written answer within 20 days of receiving your summons and complaint. If your case is in small claims court, you may not be able to file an answer form (depending on the court), but you must show up to your hearing with your prepared response and defenses.
Read More →Your Guide to Oklahoma’s Debt Collection Laws
Written by Jonathan Petts.
Updated March 25, 2024
If you live in Oklahoma, your best line of protection against unfair debt collectors is the Fair Debt Collection Practices Act (FDCPA). This is a federal consumer protection law. Oklahoma hasn’t passed any state-specific debt collection laws to protect its residents. The statute of limitations for written debt contracts — including medical debt and credit card debt — is four years in Oklahoma.
Read More →How To Deal With DCM Services
Written by the Upsolve Team.
Updated August 21, 2024
DCM Services is a third-party debt collection agency that focuses on estate debt. They go after unpaid bills of people who have died by contacting their relatives. If DCM Services is contacting you, refrain from giving them any information until they validate the debt. Initially, they may be reaching out to identify the personal representative of the estate. Since DCM Services purchases debts from original creditors and lenders, they often have incorrect or incomplete information. If you think you rightfully owe DCM Services and are unable to pay, you should consider hiring a lawyer. This form of debt collection, especially with medical bills of the deceased, is a legally gray area, so it’s advisable to get professional help.
Read More →How To Deal With CCS Offices
Written by the Upsolve Team.
Updated August 21, 2024
CCS Offices is a debt collector that focuses on consumer debts, including unpaid healthcare invoices and credit card bills. If CCS Offices contacts you, don’t panic. Given how the debt collection business works, there could be a mistake or error. The first thing you should do is have CCS Offices validate the debt. If they do, you can decide to dispute the debt, negotiate a debt settlement, or do nothing. Read on to learn more about these options and what they mean for you.
Read More →How To Deal With Midland Funding LLC
Written by the Upsolve Team.
Updated August 21, 2024
Midland Funding LLC is a legitimate debt collection agency that focuses on consumer debts under their parent company, Encore Capital Group — a major debt buyer. If Midland contacts you, you should first validate the alleged debt. Once you verify that the debt belongs to you, you can choose how to deal with Midland. Your main options are disputing the debt (if the information is incorrect or you disagree with the debt amount), or negotiating a settlement so you end up paying a portion of the debt.
Read More →How To Deal With Harris & Harris
Written by the Upsolve Team.
Updated August 21, 2024
Harris & Harris is a legitimate debt collection agency focusing on consumer debts — specifically healthcare, government, and utility debt. If Harris & Harris contacts you, you should first validate the alleged debt. Once you verify that the debt belongs to you, you can choose how to move forward. The main options are to dispute the debt (if the information is incorrect or you disagree with the debt amount) or to negotiate a settlement so you end up paying a portion of the debt.
Read More →How To Deal With the Debt Collector Unifin
Written by Attorney Tina Tran.
Updated August 21, 2024
Unifin, Inc. is a debt collection agency. They collect different kinds of consumer debts such as past-due credit cards, medical bills, and loans. If Unifin is contacting you, make sure the debt is valid before you give them any information or make any payments. Since Unifin buys debts from original creditors and lenders, sometimes their information is wrong. If you do owe Unifin, consider negotiating a settlement to pay less than the full amount. Debt settlement is a common practice and a good way to put the matter to rest and ease your financial stress.
Read More →How To Deal With Wakefield & Associates
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated August 21, 2024
Wakefield & Associates is a prolific debt collector in the United States that specializes in collecting medical debts. If Wakefield & Associates contacts you, the first thing you should do is validate the debt. This article explains the validation process and discusses your available options, like filing a dispute, negotiating a debt settlement, or ignoring the debt (which isn’t recommended).
Read More →How To Deal With Cavalry SPV I LLC
Written by the Upsolve Team.
Updated August 21, 2024
Cavalry SPV I LLC (Cavalry Portfolio Services LLC) is a legitimate debt collection agency focusing on consumer debts, like credit card debt. If Cavalry SPV I LLC is contacting you, the first thing you’ll want to do is validate the debt. Once you verify that the debt belongs to you, you can choose how to deal with Cavalry. The main options you have are disputing the debt (if the information is incorrect or you disagree with the debt amount) or negotiating a settlement to pay less than you owe and resolve the matter.
Read More →How To Deal With Radius Global Solutions
Written by the Upsolve Team.
Updated August 21, 2024
Radius Global Solutions LLC is a legitimate debt collection agency that focuses on consumer debts. If Radius Global Solutions contacts you, validate the debt before you do anything else. Once you verify that the debt is yours, you can choose how to proceed. The main options you have are disputing the debt (if the information is incorrect or you disagree with the debt amount) or negotiating a settlement.
Read More →How To Win Against Unifin
Written by Attorney Tina Tran.
Updated August 21, 2024
If Unifin contacts you to try to collect a debt, know your rights and fight back. Start by making sure they can validate the debt and its details. Then, decide what to do next. If you don’t owe the debt, dispute it. If you do owe it, negotiate a settlement for less than the full amount. If you get sued by Unifin, respond to the lawsuit using the information provided in this article.
Read More →How To Deal With Central Portfolio Control
Written by Attorney Tina Tran.
Updated August 21, 2024
Central Portfolio Control Inc. (CPC) is a legitimate debt collection agency focusing on consumer debts. CPC collects consumer debts, mainly for banks and financial institutions. If CPC contacts you, you should first validate the alleged debt. After confirming the debt is yours, you can decide how to move forward. You can dispute the debt, if there are inaccuracies or if you disagree with the alleged amount. Or you can begin negotiations to settle the debt for less than the full amount you owe.
Read More →How To Deal With CBE Group
Written by Jonathan Petts.
Updated August 21, 2024
CBE Group LLC is a legitimate debt collection agency focusing on consumer debts. If CBE Group contacts you, you’ll first want to validate the alleged debt. After confirming the debt is yours, you can decide how to address matters with CBE Group LLC. Your main choices include disputing the debt (especially if you find inaccuracies or disagree with the specified amount) or negotiating to settle the debt. If you negotiate to settle the debt, you pay a reduced portion of the total amount owed.
Read More →How To Deal With MBA Law
Written by the Upsolve Team.
Updated August 21, 2024
MBA Law is a debt collection business that focuses on collecting medical debt. They usually start the process by mailing letters or notices to individuals with unpaid medical bills. If you receive a letter from MBA Law, validate the debt before you do anything else. If the debt is valid, you can then decide to pay it, contest it, negotiate a debt settlement, or ignore it (not recommended). Read on to learn more about these options and what they mean for your finances.
Read More →How To Deal With LVNV Funding
Written by Jonathan Petts.
Updated August 21, 2024
LVNV Funding is a third-party debt collection agency that collects on overdue consumer credit cards and loans. If they are contacting you, your first action should be to validate the debt. Make sure the details they have are accurate before disclosing any information or making payments. Since LVNV Funding purchases debts that have been charged off, they often have inaccurate information. If you do owe LVNV Funding, a great strategy is to negotiate a settlement. You will pay less than the original amount and have peace of mind knowing the debt is behind you.
Read More →How To Deal With Pressler, Felt & Warshaw LLP
Written by the Upsolve Team.
Updated August 21, 2024
Pressler, Felt & Warshaw LLP is a debt collection law firm that represents creditors, debt collectors, and debt buyers. Pressler mostly collects consumer debts, like past-due credit card debt. They may initially contact you to collect a debt or to notify you that they filed a lawsuit against you. If Pressler, Felt & Warshaw reaches out to you, the first thing you should do is validate the debt. This guide explains how to do this and discusses your other options, such as disputing the debt or negotiating a debt settlement.
Read More →How To Deal With RMP Services
Written by the Upsolve Team.
Updated August 21, 2024
Receivables Management Partners LLC (RMP Services) is a legitimate debt collection agency focusing on medical debt. If RMP Services contacts you, the first thing you’ll want to do is validate the debt. Once you verify that the debt belongs to you, you can choose how to deal with the collection agency. The main options you have are disputing the debt (if the information is incorrect or you disagree with the debt amount) or negotiating to pay a lower amount.
Read More →How To Deal With United Collection Bureau Inc.
Written by the Upsolve Team.
Updated August 21, 2024
United Collection Bureau Inc. (UCB) is a legitimate debt collection agency that focuses on consumer debts. If UCB contacts you, the first thing you need to do is validate the alleged debt. After confirming the debt is yours, you can decide how to address the situation with UCB. You can dispute the debt if there are inaccuracies or if you disagree with the debt amount, or you can negotiate the down amount down by offering a debt settlement.
Read More →How To Deal With Aldous & Associates
Written by the Upsolve Team.
Updated August 21, 2024
Aldous & Associates PLLC is a legitimate law firm and debt collection agency that focuses on consumer debts in the health and fitness industry as well as telecommunications and property management. If Aldous & Associates contacts you, you’ll first want to validate the debt. Once you’ve confirmed that the debt is yours, you’re in control of how you want to move forward with Aldous & Associates. Rest assured, you have options. You can dispute (challenge) the debt if there are any mistakes or you don’t agree with the amount, or you can negotiate to settle the debt by paying only a portion of the total debt owed. You get to decide which approach works best for you and your financial situation.
Read More →How To Deal With Frost-Arnett Company
Written by Attorney Tina Tran.
Updated August 21, 2024
Frost-Arnett Company is a debt collection agency that collects medical debts for healthcare companies. If Frost-Arnett contacts you, the first thing you’ll want to do is validate the debt and confirm it is really yours. Once you do confirm that the debt is yours, you can choose how you’d like to deal with Frost-Arnett. The main options you have are disputing the debt (if the information is incorrect or you disagree with the debt amount) or negotiating a settlement, so you only pay off a portion of your overall amount owed.
Read More →How To Win Against LVNV Funding
Written by Attorney Tina Tran.
Updated February 20, 2024
If LVNV Funding reaches out to try to collect a debt, get informed about your rights and learn your options. First, make sure the debt is valid. If it isn’t, dispute it. If it is, figure out what you can pay and draft a settlement offer. Even if LVNV Funding sues you, you can still try to negotiate a settlement to pay less than you owe. Continue to respond to the lawsuit while you work out negotiations.
Read More →How To Deal With Resurgent Capital Services
Written by Jonathan Petts.
Updated August 21, 2024
Resurgent Capital Services is a legitimate debt collection agency that collects past-due credit card bills, medical bills, and other consumer debt. The first thing you should do if Resurgent contacts you is verify the amount of the alleged debt and that it actually belongs to you. After confirming the debt is yours, you can choose how to address the situation. If you disagree with any details of the debt, you can dispute it. If you agree that you owe it, you can pay it in full or try to negotiate a debt settlement to pay a reduced portion of the debt.
Read More →How To Win Against FBCS
Written by the Upsolve Team.
Updated August 21, 2024
FBCS is a third-party debt collector, so if they contact you, they’re probably trying to collect on a debt account. Before you pay anything, have FBCS validate the debt and confirm its details. Then you can decide what to do next. If you disagree with any aspect of the debt, you can file a dispute. If you agree you owe the debt and want to pay it, you can pay it in full or try to settle the debt for less than the full amount. If FBCS sues you, you’ll need to respond to the lawsuit.
Read More →How To Win Against Radius Global Solutions
Written by the Upsolve Team.
Updated August 21, 2024
Radius Global Solutions LLC is a debt collection agency. If they’re contacting you, they probably bought one of your accounts from a creditor and are now attempting to collect the debt. Before you pay, make sure the debt is legitimate. If it is, try to negotiate a debt settlement to pay less than you owe and get the account settled. If you ignore Radius Global Solutions and their collection efforts, they may file a lawsuit against you. If they sue you, respond right away.
Read More →How To Win Against Central Portfolio Control
Written by the Upsolve Team.
Updated August 21, 2024
If Central Portfolio Control contacts you, they probably bought a debt they believe you owe. Before paying anything, you need to validate the debt to confirm that it’s legitimate. If it is, figure out how much you can pay and begin debt settlement negotiations. If Central Portfolio Control is suing you for unpaid debt, you need to respond — even if you’re in the middle of settling the debt — and follow court procedures.
Read More →How To Deal With Revco Solutions
Written by the Upsolve Team.
Updated August 21, 2024
Revco Solutions is a consumer debt collector and primarily collects past-due medical bills for its clients. In some cases, they also collect other types of consumer debt. If Revco Solutions contacts you, ask them to validate the debt before you do anything else. If they prove the debt is valid, you can decide how to proceed. You can dispute the debt, pay it in full, or negotiate the amount down.
Read More →How To Win Against MBA Law
Written by Curtis Lee, JD.
Updated August 21, 2024
If MBA Law contacts you to collect a debt or tries to sue you for a debt, you have rights and can fight back. To start, have them validate the debt. If they can validate the debt but you disagree with it, you can dispute it. If the debt is valid and you agree that you owe it, you can pay it off in full or try to settle the account for less than what you owe. These negotiations are common with debt collectors like MBA Law. If MBA Law sues you, it’s best to respond quickly, or you risk losing the lawsuit and potentially having your paycheck garnished.
Read More →How To Win Against Velocity Investments
Written by Attorney Tina Tran.
Updated August 21, 2024
If Velocity Investments contacts you to collect a debt, it’s critical to first validate the details of the debt account. If they aren’t correct, send Velocity a verification letter to dispute the debt. If you know the information is accurate and agree that you owe the debt, you can use the information in this article to negotiate a settlement for less than the full amount. If Velocity Investments sues you, you can still try to negotiate a settlement, but you should also respond to the lawsuit.
Read More →How To Deal With 11 Charter Communications
Written by Jonathan Petts.
Updated August 21, 2024
11 Charter Communications is a legitimate debt collection agency. Its parent company is Charter Communications Inc., better known as Spectrum. If Charter Communications contacts you, you’ll first want to validate the debt. Once you verify that the debt is yours, you can choose how to deal with 11 Charter Communications. You can dispute the debt (if the information is incorrect or you disagree with the debt amount) or negotiate a settlement so you only pay a portion of the total amount.
Read More →How To Deal With Northstar Location Services
Written by the Upsolve Team.
Updated August 21, 2024
Northstar Location Services LLC (a part of The Northstar Companies) is a legitimate debt collection agency that collects consumer debts. If Northstar contacts you, you need to validate the debt to ensure it is legitimate. After you confirm the debt is real and yours, you have a couple of options for moving forward with Northstar. You can dispute the debt (especially if you find inaccuracies or disagree with the specified amount), or you can negotiate to settle the debt. If you negotiate to settle the debt, you pay a portion of the total amount owed.
Read More →How To Win Against 11 Charter Communications
Written by the Upsolve Team.
Updated August 21, 2024
11 Charter Communications is in charge of debt collection for Charter Communications Inc, better known as Spectrum. After confirming that you have an unpaid debt with Spectrum, you can negotiate a debt settlement with 11 Charter Communications to clear the debt. If 11 Charter Communications files a debt collection lawsuit against you, you can respond on your own by filing an answer form.
Read More →How To Win Against Wakefield AND Associates
Written by the Upsolve Team.
Updated August 21, 2024
If Wakefield and Associates contacts you to collect a debt, make sure they’ve validated the debt before you decide what to do next. If they can prove the debt is valid but you disagree with the amount, you can dispute it. If you agree you owe that amount but can’t pay in full, try to negotiate a settlement to pay less. If Wakefield and Associates sues you, you must respond to their lawsuit even if you’re still negotiating the debt to avoid negative consequences.
Read More →How To Win Against Northstar Location Services
Written by the Upsolve Team.
Updated August 21, 2024
Northstar Location Services is a debt collection agency. If they reach out to you, you need to take action. Start by validating the debt they claim you owe. If the debt is accurate and you agree you owe it, consider negotiating a debt settlement to pay only a portion of the full amount. If Northstar sues you, respond immediately by filing an answer form. You don’t have to hire a lawyer to respond to the lawsuit.
Read More →How To Win Against CBE Group
Written by the Upsolve Team.
Updated August 21, 2024
CBE Group (The CBE Group Inc) is a debt collection agency specializing in consumer debt collection. If CBE Group contacts you, then they have bought a debt of yours from a creditor or lender. Before you pay anything toward the debt, validate it to make sure it is legitimate. Then, figure out how much of the debt you can reasonably pay, and begin debt settlement negotiations. If CBE Group is suing you for unpaid debt, respond to the lawsuit immediately.
Read More →How To Win Against Cavalry SPV I LLC
Written by the Upsolve Team.
Updated August 21, 2024
If Cavalry SPV I LLC (Cavalry Portfolio Services LLC) contacts you, the most important thing you can do is to take action. You need to validate the debt and decide what you want to do next. You can either dispute the debt (if there are inaccuracies or if you disagree with the debt) or negotiate a debt settlement and pay less than the total debt amount. Unfortunately, if you ignore Cavalry and their collection efforts, they can file a lawsuit against you. If Cavalry files a lawsuit against you, you need to respond quickly. Read this article to find out how.
Read More →How To Beat CCS Offices
Written by Attorney Tina Tran.
Updated August 21, 2024
CCS Offices is a third-party debt collection agency. If they contact you, they’re probably trying to get you to pay on a collection account they purchased from one of your creditors. Make sure they validate the debt before you pay anything. If the debt is valid but you can’t afford to pay the full amount, try to negotiate a debt settlement. If CCS Offices sues you, you can still try to negotiate a settlement, but it’s important to respond to the lawsuit as well. You can respond by filling out an answer form from the court.
Read More →How To Deal With Velocity Investments
Written by Curtis Lee, JD.
Updated August 21, 2024
Velocity Investments LLC is a debt collector that specializes in recovering consumer debts, like personal loans, credit cards, medical bills, and utility bills. If you receive a call or letter from Velocity Investments, make sure they’ve validated the debt in writing. If the debt is valid, you can choose to dispute the debt, negotiate a debt settlement, or ignore the debt (not recommended). This guide goes over your options and the debt validation process.
Read More →How To Deal With FBCS
Written by the Upsolve Team.
Updated August 21, 2024
FBCS is a debt collection agency that works for clients in various consumer and commercial industries. FBCS uses multiple collection methods, including phone calls and letters. No matter how FBCS contacts you, the first thing you should do is validate the debt. This guide explains how to verify a debt and goes over the options of disputing the debt and negotiating a debt settlement.
Read More →How To Deal With Halsted Financial Services
Written by the Upsolve Team.
Updated August 21, 2024
Halsted Financial Services is a debt collection agency with a primary focus on past-due consumer debts, such as personal loans, credit cards, and medical bills. If Halsted Financial Services calls you or sends you letters to collect a debt, ask them to validate the debt. This article explains how to verify a debt and explores your options, such as contesting the debt, negotiating a debt settlement, or ignoring the debt (not advised).
Read More →How To Deal With Capio Partners
Written by the Upsolve Team.
Updated August 21, 2024
Capio Partners LLC is a third-party debt collection agency. They focus primarily on collecting past-due medical debt. If Capio Partners contacts you, make sure they validate the debt in writing before you do anything else. If the debt amount is wrong or you don’t owe the debt, dispute it. If you agree that you owe the debt, you can try to set up a payment plan or negotiate a debt settlement to pay less than the full amount you owe.
Read More →How To Win Against Midland Funding LLC
Written by Attorney Tina Tran.
Updated August 21, 2024
If Midland Funding is contacting you, they’re probably attempting to collect a debt. Before you do anything else, determine if the debt is valid. If it is but you can’t afford to pay it in full, you can try to negotiate a debt settlement. If Midland files a lawsuit against you, read the details thoroughly and respond quickly. Use this article as your guide to take on Midland Funding successfully.
Read More →How To Win Against Pressler, Felt & Warshaw LLP
Written by the Upsolve Team.
Updated August 21, 2024
Pressler, Felt & Warshaw LLP will contact you when they’re trying to collect a debt or inform you that they’ve sued you to collect a debt. If Pressler hasn’t sued you yet, you can fight back by making them validate the debt. If the debt is valid, you can try to settle it for less than what you owe. If you’ve been sued, respond to the lawsuit even if you’re trying to negotiate a settlement. Keep reading to find out how.
Read More →How To Win Against United Collection Bureau
Written by the Upsolve Team.
Updated August 21, 2024
United Collection Bureau (UCB) is a debt collection agency. If UCB is reaching out to you, you may owe a debt that belongs to them. After confirming you owe the debt, you can negotiate a debt settlement for less than what you owe overall. If UCB files a lawsuit against you, respond immediately by filing an answer form and following all court procedures.
Read More →How To Win Against Harris & Harris
Written by the Upsolve Team.
Updated August 21, 2024
If Harris & Harris contacts you, respond and take action, as they are a recognized debt collection agency. Before you pay anything, validate the debt to confirm it is accurate and yours. If the debt is legitimate, you need to figure out how much of the debt you can pay and begin debt settlement negotiations. If Harris & Harris is suing you for unpaid debt, you can respond by using an answer form — even if you’re in the middle of negotiating or settling — and following your court’s procedures.
Read More →How To Win Against Resurgent Capital Services
Written by the Upsolve Team.
Updated August 21, 2024
If Resurgent Capital Services is reaching out to you, they’re likely trying to collect a debt. Before taking action or paying anything, make sure the debt they’re claiming you owe is valid. If it is, and you can’t afford to pay it, you can negotiate a debt settlement to pay less than you owe and settle the account for good. If Resurgent Capital Services sues you, respond immediately by filing an answer form. Read this article to learn how to win against a debt collector like Resurgent Capital Services.
Read More →How To Win Against Capio Partners
Written by the Upsolve Team.
Updated August 21, 2024
If Capio Partners contacts you to try to collect a debt, the best thing you can do is get informed and respond. Before paying anything, validate the debt. If it’s your debt but you can’t afford to pay it, make a settlement offer to pay less than the original amount owed. If it isn’t your debt, dispute it. Capio is unlikely to sue, but if they do, you can probably still negotiate as long as you also meet the requirements of the lawsuit.
Read More →How To Win Against Aldous & Associates
Written by Jonathan Petts.
Updated August 21, 2024
Aldous & Associates is a third-party debt collector that collects consumer debts for telecommunication companies, property management firms, and health and fitness clubs. If they contact you, they are likely looking to settle a debt. Before you pay anything, it’s best to validate the debt. If the debt is legitimate but you can’t afford to pay it in full, you can try to negotiate the amount down. If Aldous & Associates sues you for unpaid debt, file an answer form as soon as possible to avoid wage garnishment or other serious consequences.
Read More →How To Win Against Halsted Financial Services
Written by the Upsolve Team.
Updated August 21, 2024
Dealing with debt collectors like Halsted Financial Services requires assertiveness and action. You can effectively defend yourself by understanding your rights, validating the debt, negotiating a settlement, or seeking legal assistance if necessary. You have options when facing debt collection by Halsted Financial Services, and with the right approach, you can navigate this challenging situation successfully. Continue reading to learn how you can take action to help you win by asserting your consumer rights.
Read More →How To Win Against Frost-Arnett Company
Written by the Upsolve Team. Legally reviewed by Jonathan Petts
Updated August 21, 2024
Frost-Arnett is a debt collection agency. If Frost-Arnett contacts you, they’re probably trying to collect a past-due medical debt on behalf of a healthcare company they bought the debt from. If the debt is legitimate, you likely have to pay or face serious consequences. But don’t fret! You may not have to pay the full amount. You can try to negotiate a debt settlement to pay a portion of the debt and settle the account for good. If Frost-Arnett repeatedly contacts you and you ignore them, they could file a lawsuit against you. Respond to the lawsuit right away by filing an answer form with your court.
Read More →How To Win Against RMP Services
Written by Attorney Tina Tran.
Updated August 21, 2024
RMP Services is a debt collector that works exclusively for healthcare companies. If they contact you, they likely bought a past-due account from a healthcare provider and are looking to collect on it. Before you pay anything, validate the debt to ensure it’s legitimate. If the debt is genuine, you probably have to pay or risk serious consequences. If you can’t afford the full amount, make a debt settlement offer to repay a fraction of the original debt amount and close the account for good. If RMP Services sues you, respond ASAP by filing an answer form with your court.
Read More →Judgment-Proof Cease & Desist Letter Template
Written by Jonathan Petts.
Updated October 15, 2024
Being judgment-proof means creditors can’t collect from you, even if they win a lawsuit, because your income and assets are legally protected. This often applies to people whose income comes from sources like Social Security or unemployment benefits and who don’t have significant assets. If you’re judgment-proof, you can tell debt collectors to stop contacting you by sending a cease and desist letter. While this stops the harassment, it doesn’t erase the debt or prevent them from suing you. But even if they win, they likely can’t collect.
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