What happens in a Chapter 7 bankruptcy case?

Chapter 7 bankruptcy cases are usually straightforward. On rare occasions, complications arise if creditors take aggressive action, if the trustee thinks you are hiding assets, or if you want to challenge creditors’ claims. Who can file? Any individual who lives in the United States or has property or a business in the United States can file a chapter 7 bankruptcy. If you received a chapter 7 bankruptcy discharge within the past eight years, you are disqualified from receiving a discharge in chapter 7. A similar disqualification may also apply if you received a discharge within the past six years in 

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Pay Day Loans – 369% interest rate loans

Payday loans are 369% interest rate loans trapping families in an endless cycle of debt. Payday lending is considered to be a scourge by advocates for the poor and working class. They say the payday loans crush families by trapping them in an endless cycle of debt at outrageous interest rates. The cost of a payday loan may be small in terms of dollars, such as the $42.50 that could be charged for a $300, two-week loan. But the “pay off” amount adds 369% interest when computed as an annual percentage rate. The lenders like to talk about payday loans 

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