Phoenix Legal Resource Blog
To Reaffirm A Vehicle Or Not?
When filing for Chapter 7 bankruptcy, you do have some options when it comes to your vehicle. If you are in good standing with the payments on the vehicle you are purchasing and would like to continue making payments, you may be able to enter into a reaffirmation agreement with your creditor. Bankruptcy exemptions for chapter 7 allow you to have up to $6,000 in equity for one motor vehicle or $12,000 if you are married.
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Phony Debt Collectors – How to Spot Them and What to do About It
Increasingly, fraudsters are posing as legitimate debt collectors or attorneys and offering to accept a discounted amount to settle valid debts. They call unsuspecting consumers and are convincing. They typically know your social security number, your address, the amount of the debt, and the name of the creditor. They will claim to be from an organization with an official-sounding name. They will send you official-looking documents to sign. And, after you’ve paid, the real debt collector will still be able to pursue you for the full amount owed.
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