CACH LLC Buys Millions in Uncollectable Credit Card Debts

If CACH LLC has allegedly purchased the rights to one of your credit card debts, it may attempt to collect from you using traditional methods such as collection letters or telephone calls. If you fail to respond or do not comply with its imposed repayment terms, it will sue you in court to collect. CACH LLC hires law firms to sue with the hope that you will fail to respond (file an answer) to the summons and complaint. There is a hard-to-understand phenomenon in the consumer financial world, and that phenomenon is the en masse failure of consumers to respond to debt collection lawsuits.  In some studies, the failure to respond to debt collection lawsuits is as high as 95%. But, both CACH LLC and its law firms... Read More... CACH LLC Buys Millions in Uncollectable Credit Card Debts

Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy

There are incidents where you may not want to discharge all of your debts.  Common examples of a debtor wanting to keep a debt include a mortgage or a car loan.  In these circumstances, you may want to keep your home and/or your car.  To do so, you will need to reaffirm or re-promise... Read More... Types of Debt That Can and Cannot Be Discharged in Chapter 7 Bankruptcy

What is the Chapter 13 Repayment Plan?

When someone files for bankruptcy, a Repayment Plan must be filed within 15 days of the filing of the bankruptcy petition. The Repayment Plan provides for regular fixed payments to a bankruptcy trustee, who... Read more... What is the Chapter 13 Repayment Plan?

What is the Chapter 7 Bankruptcy Means Test, and How is the Test Applied?

A series of deductions is then subtracted from the debtor’s monthly income to determine disposable income.  These deductions include taxes, clothing, food, housing, transportation utilities, insurance, medical bills, reasonable recreation, charitable contributions, etc.  However... Read More... What is the Chapter 7 Bankruptcy Means Test, and How is the Test Applied?

How Can I Save My Financed or Leased Car in a Chapter 7 Consumer Bankruptcy?

Most consumers facing bankruptcy worry that they will lose the car. From losing the car, worries stretch to losing jobs, and being unable to care for their family. These fears are understandable, but usually are put to rest with a good...Read More... How Can I Save My Financed or Leased Car in a Chapter 7 Consumer Bankruptcy?

A Guide to the Bankruptcy Section 341 Meeting

Section 341 Meetings can be quite mysterious to the consumer contemplating bankruptcy. Click here for a great article explaining the 341 Meeting required in bankruptcies. A Guide to the Bankruptcy Section 341 Meeting.

How Does Bankruptcy Affect My Credit?

While filing bankruptcy has a negative impact on your credit reports, it can be the only viable solution left if you are in deep, irreconcilable financial trouble. Although bankruptcy should never be filed lightly, the considerations of credit reports should take a back seat to this extremely... Read More... How Does Bankruptcy Affect My Credit?