Content Related To 'Debtor-Creditor'
A creditor must be considered a secured party to your goods before it can repossess them. Generally, a party is secured if it takes a security interest in your personal property to ensure payment from you (otherwise known as collateral). For example, an electronics store that finances the sale of a TV generally has a […]
The Fair Debt Collection Practices Act regulates debt collection in the U.S. The act is intended to protect consumers and applies to the conduct of debt collectors. It does not apply to a company collecting its own debt unless the company uses a different name for collection purposes. Collectors, as defined by the act, may […]
The Different Types of Debtor-Creditor Relationships If you have outstanding debts and cannot pay them, you may seek to sell some of your property to settle your obligations. You can do this through a formal bankruptcy filing (although you must qualify to discharge debts under Chapter 7), or you can sell property privately. Regardless of […]
In 1978, citing “abundant evidence of the use of abusive, deceptive and unfair debt-collection practices by many debt collectors,” the U.S. Congress passed the Fair Debt Collection Practices Act, establishing strict guidelines on the types of tactics debt collectors can use to collect a debt. Some states have used the FDCPA as a model, enacting […]
Bankruptcy Law Websites Bankruptcy: An Overview – Links to U.S. statutes and regulations, as well as relevant business statutes for each state. HG: Bankruptcy – Dozens of bankruptcy law links from Hieros Gamos, including international links, associations, and articles. Internet Bankruptcy Library – Award-winning site linking to news articles, books, and forums. Also links to […]
It can happen to just about anyone. An unexpected event—the loss of your job, an injury or illness, or a divorce—can suddenly make it impossible for you to meet your financial obligations. The American bankruptcy laws were enacted to give people the opportunity for a fresh start—to put behind them the stress and anxiety that […]