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Asset Forfeiture Archives

We have the expertise to help with your consumer bankruptcy

Choosing bankruptcy might seem like a mostly straightforward choice, but it can be an incredibly complex decision to make. Consumers are typically already overwhelmed by the barrage of collection notices in their mailboxes and the incredibly mentally taxing process of trying to pay down debt while also fielding calls from creditors. While consumer bankruptcy is not a get-out-of-jail-free card, it can certainly be an incredibly valuable tool for effectively handling debt.

Tags: Asset Forfeiture

Consumer debt out of control? We can provide the help you need

The devastating emotional impact of enormous amounts of debt tends to get overlooked. Far too often, the focus is instead placed on how a person managed to accrue that much debt without a clear plan to go forward and pay it back. This mentality completely overlooks the uncontrollable circumstances that tends to lead to high rates of consumer debt, such as medical emergencies, job losses and even deaths in the family. With the stress of these life events that are already fueling debt, harassing phone calls from creditors can only make things worse.

Consumer debt differs between Baby Booms and Millennials

While Millennials and Baby Boomers go into debt in very different areas, they might still be headed for the same outcome, according to a recent report. Overwhelming amounts of debt can come from a variety of sources, including medical bills, credit card debt and unimaginable student loans. These two generations might enter into different types of consumer debt, but the need for debt relief is often the same.

Inheritances might impact decision to seek consumer bankruptcy

Inheritances and other assets obtained after the loss of a loved one often carry deeply personal meaning for the recipient. However, the receipt of any such assets can potentially impact a person's decision to seek debt relief through consumer bankruptcy. In certain situations, filing for bankruptcy can ultimately result in the forfeiture of the asset or inheritance.

Litigation may stop creditor harassment for paid debts

When Washington consumers are overwhelmed by debt, the harassment by debt collectors is probably the last thing they need. Unfortunately, unpaid debts and creditor harassment go hand-in-hand, and consumers who are unable to settle those debts may benefit from gaining knowledge about the protection offered by personal bankruptcy. However, credit collectors sometimes make mistakes and try to collect debts that are not unpaid, in which cases, steps may be taken to stop creditor harassment.

Tags: Asset Forfeiture

Bankruptcy at the right time may stop foreclosure

It is not uncommon for Washington consumers who are facing overwhelming debts to try all kinds of remedies before considering bankruptcy. Unfortunately, most other options take a long time before relief is achieved -- if at all -- by which time actions such as foreclosure, wage garnishments and repossession may have been launched. While filing for bankruptcy requires careful consideration, there are certain circumstances in which the advantages of bankruptcy outweigh any perceived disadvantages.

Tags: Asset Forfeiture

Man behind fraudulent mortgage debt relief scam shut down

When the housing market collapsed approximately six years ago, many homeowners found themselves in over their heads as they tried to make mortgage payments they could not afford toward a balance that exceeded the current value of their homes. As a result, some Washington families may have wound up losing their homes to foreclosures. To make matters worse, there were several unscrupulous individuals who set up fraudulent businesses in an attempt to take advantage of those who were struggling to keep up with their mortgage debt.

Tags: bankruptcy, homes

Couple wins suit against bank for its loan collection efforts

Many homeowners found themselves underwater in their mortgages when the housing market collapsed several years ago. As a result, many families likely experienced difficulties keeping up with their mortgage payments and had to endure harassment from their lender's loan collection efforts. A federal judge recently ordered Bank of America to pay a couple after refusing to honor their no-contact request. Since this bank has customers throughout the country -- including here in Washington -- readers may be interested in learning more.

Tags: bankruptcy

Change in policy may help some who lost a home to foreclosure

Several years ago, the housing market crashed and sent prices and property values tumbling. As a result of the severe downturn, many families in Washington lost their homes to foreclosure. Fortunately, some of those families may now have a chance to buy back their homes due to a new policy.

Tags: bankruptcy, car, homes

Agency fines used car dealer over loan collection efforts

Four years ago, Senator Elizabeth Warren advocated for the creation of a new agency to help protect consumers from predatory lenders. The agency, The Consumer Financial Protection Bureau, has now fined a used car dealership over its loan collection efforts. While this particular dealership does not have locations in Washington, residents here may have financed cars through similar businesses.

Tags: bankruptcy, car