Bankruptcy
is the process by which federal bankruptcy courts help consumers and businesses in financial trouble to eliminate some debts or repay them under the protection of bankruptcy courts. Certain debts cannot be discharged under bankruptcy and these usually include spousal support, child support, tax debts, and educational loans. The two most common kinds of consumer bankruptcy are Chapter 7and Chapter 13. Bankruptcy laws changed significantly in October 2006, requiring consumer debt education and creating very specific rules about eligibility for each kind of bankruptcy, mostly related to the level of disposable income (after certain allowed expenses) according to a "means test".
Identity Theft
Identity theft occurs when someone obtains and/or uses your name, Social Security number, credit card number or some other piece of your personal information to apply for a credit card, make unauthorized purchases, gain access to your bank accounts or obtain loans under your name. If you suspect identity theft, contact your police department immediately and/or see "What to Do" or visit the Attorney General or Federal Trade Commission links in "Where to Read More".
Consumer Problems
The Federal Trade Commission (FTC) and Better Business Bureaus (BBB) investigate consumer fraud and link to agencies that report trends and tips about recent national fraudulent activities. Consumer Law lawyers specialize in faulty consumer product issues. See "Where to Read More" for links to FTC or BBB.
Credit Report Problems
Be very cautious about hiring a Credit Repair Agency to "fix your credit" with big promises of glowing credit reports in your future. No one can legally remove accurate and timely negative information from a credit report but the law allows you to ask for an investigation of information in your file that you dispute as inaccurate or incomplete. The federal Fair Credit Reporting Act (FCRA) promotes the accuracy and privacy of information in the files of the nation’s consumer reporting companies and requires that the 3 major credit reporting agencies provide consumers with a free copy of their credit report once every 12 months. See the Federal Trade Commission Credit Report and Major Credit Report agencies link in "Where to Read More".