Learn

Month: May 2019

Am I too old to declare bankruptcy?

By Ashley BishelIn Bankruptcy

Filing for bankruptcy protection is a big decision for anyone, but for older people, it also raises some unique concerns. Many older adults have a lot of equity in their homes, something worth protecting, but that could be threatened in certain Chapter 7 bankruptcies. If you’re an older adult, it’s...

8 bankruptcy myths you should stop believing

By Jennifer ThomasIn Bankruptcy

Many people have misconceptions about bankruptcy. Not just the process, but also about the future fallout that comes from declaring bankruptcy. While bankruptcy should be taken seriously, it’s often not as scary as people think, said Michael Bovee, co-founder of Resolve. “People are so afraid of bankruptcy, they don’t even...

Cavalry Portfolio: what you need to know

By Kaylee KolditzIn Debt Settlement

Established in 2002, Cavalry Portfolio is a large debt buyer that positions itself as caring for the consumer. The website outlines core values, prioritizing integrity, respect and communication. It also uses consumer-friendly language, such as calling the delinquent accounts it purchases “non-performing consumer loan portfolios” and referring to its employees...

LVNV Funding/Resurgent Capital: what you need to know

By Kaylee KolditzIn Debt Settlement

LVNV Funding is a large debt buyer that purchases delinquent accounts domestically and internationally from original creditors and other debt buyers. The collections on those accounts are outsourced to Resurgent Capital Services LP, a third-party debt collector. Resurgent itself may outsource the accounts to third-party collection agencies. Here's what you...

What does bankruptcy mean for your rewards credit card?

By Ashley BishelIn Bankruptcy

Many credit cards come with some nice perks. Maybe it’s cashback, a great deal on airline miles, or tons of travel points. If you’ve spent years accumulating those rewards, the thought of losing them can be upsetting. Filing for bankruptcy throws the future of those rewards points into uncertainty. Here’s...

What is a debt buyer and why should you care?

By Kaylee KolditzIn Debt Settlement

Buying debt is a big business. Gaining ground in the savings and loan crisis of the 1980s-90s, debt buyers today primarily deal with delinquent credit card accounts and defaulted personal loans. In the last few years, guidance on debt selling from the Office of the Comptroller of Currency and actions...