Monthly Archives: June 2020

Bankruptcy might be the best choice

Bankruptcy might be the best choice

Bankruptcy is typically an option of last resort for debtors in Arkansas who can’t afford to continue making payments to creditors. While it may harm a person’s credit score, this isn’t always true. Furthermore, creditors may have to stop contacting individuals who have filed for bankruptcy. Filing for protection from creditors can also put a […]

The FDCPA was passed to rein in debt collectors

The FDCPA was passed to rein in debt collectors

The Fair Debt Collection Practices Act established strict rules that collection companies in Michigan and around the country must follow. The FDCPA was passed in 1977 to put an end to harassment, threats and intimidation, but some debt collectors routinely flout the 1977 law. However, the FDCPA only applies to companies that are acting on […]

Individuals are increasingly relying on credit cards

Credit Cards

A May report from CreditCards.com revealed that roughly 120 million Americans have credit card debt. That figure represents about 47% of adults in the United States, and the number of people who have credit card debt in Michigan and throughout the country has increased 4% since early March. According to the 2019 Wealth Report issued […]