Virginia Lawyer Blog » Finance

Solutions to Credit Card Debt

Morrey — Fri, 18 Nov 2011 10:23:48 +0000

In the bad state of the economy more and more people have been deciding to breakdown and pay off their credit card debt. Many credit card debt consolidators can help you but also you need to work with your creditors! They can help you just like you are trying to help yourself. If you get angry with one (you probably will) try to calmly assess the situation!
As I said, many companies will say “let us stop the phone calls.” Well you will want to talk to your credit card companies! If you explain the situation that you cannot afford your monthly payment they will work with you to solve your credit card debt! I have had credit card company representatives push back my due date so that way I can get my paycheck to pay for my credit card debt. This of course does not always happen, but I am trying to encourage you because people understand other people, especially in economic distraught.
Also contacting your credit card companies to solve your credit card debt can be helpful because of the hardship program. Most credit card companies started adopting this program were you can apply for it and your minimum payment and interest rate will but cut in half for a year. This helps you get ahead of your credit card debt before the interest rate goes back up! All you have to do is keep in contact with your credit card companies!
There are many other things to think about when looking to solve your credit card debt. The point is you do not have to be in debt! No one said it was easy though it takes work and dedication to solve your credit card debt. This credit card debt relief website is a great website that will help provide you with the tools and services to help you with solutions!

Marks of a Competent Lawyer for Asset Protection Planning

Morrey — Wed, 29 Jun 2011 12:56:06 +0000

While it is imperative to get legal advice when you are considering a plan for asset protection, the question is how you choose a lawyer for the job. There are numerous self-proclaimed ‘experts’ in this legal field – how do you know which are the good ones. Make sure the legal advisor of your choice has the following characteristics.

Proficiency in the federal and state estate planning laws – one of the primary concerns of every entity is the legality of the plan. Without legal knowledge, it is impossible to zero in on the strategies to use for a particular entity in a particular circumstance.

Proficiency in the federal tax laws – the mark of a good plan in this regard is tax neutrality. If your Asset Protection Lawyer is capable of achieving this, you have made a good choice.

Experiences in this field – not all legal advisors are good for this job. The reason is simple – just as a dentist would not be able to handle a skin grafting, a lawyer in just any field would not suit this task.

Experience in defending the structure – just planning and implementing asset protection strategies would not suffice. Your lawyer needs to be adept at handling the defense of this structure if the need arises.

Prevent being harassed by collection agencies with the FDCPA

Morrey — Fri, 16 Apr 2010 06:38:20 +0000

Are you unable to pay your bills on time? Do you wish to settle them? If yes, you can do so with the help of debt settlement law like the Fair Debt Collection Practices Act (FDCPA), enforced by the Federal Trade Commission. When you are unable to repay the debts, your creditors may hand over your accounts to the collection agencies. The collection agencies may adopt unfair means to recover the money from you. You can protect yourself from such harassment by knowing consumer rights guaranteed under the FDCPA.

What are the debts covered under FDCPA?

The debts which are usually covered under Fair Debt Collection Practices Act are:

Personal loan
Car loan
Medical bills
Home loans
Credit card bills

What Is the Fair Debt Collection Practices Act?

The FDCPA lays down guidelines that the collection agencies(CAs) must follow when they try to recover money from the debtors. Some of the provisions of the FDCPA are considered as the debt settlement law. Few of the restrictions imposed on CAs by the Act are:

CA should not harass you or others: The CAs are not permitted to harass you with phone calls at unreasonable times. They should not call you before 8 am and after 9 pm without prior permission. Apart from the co-signer of your debt, the collectors cannot harass others including your friends, relatives and neighbors.

Should not make false representation: Under the FDCPA, the collectors must not use false claims while trying to collect a debt, such as pretending to be attorneys or government representatives.

Should not threaten you: The law also prohibit debt collectors from using any profane language or threatening to take your property unless it can be done legally. Activities like threatening you of arrest, posing threats to cause physical injury or publicly disgracing you are also prohibited.

Whenever you face problems with collection agencies, you can take help of the FDCPA. The Act also gives you the right to sue the collection agencies in a federal or state court if they violate the guidelines.