Category Archives: Debt

The Difference Between a Lien and a Debt

There is a lot of confusion about the difference between a lien and a debt. A debt is when a person owes money to another person or entity. A lien is what attaches the debt to property. When a debt is attached to property by a lien, the debt is said to be secured by […]

Can You Go to Jail For Not Paying Your Debts?

I have been getting this question a lot lately. Apparently there are some overzealous collection agents using this lie to pressure debtors into paying debts they can’t afford. The truth is that you will not go to jail for not paying your credit cards, payday advance loans, medical bills, etc. Debtor’s prisons are a thing […]

Negotiating Better Rates

About once a year I review my finances to make sure I am paying the lowest amount possible. I don’t have a set schedule for doing this task, although I probably should. Usually something prompts me to take action. This year it was when my cable provider notified me that they were going to raise […]

Student Loan Debt on the Rise

Student loan debt is on the rise, and could become a problem similar to the recent mortgage crisis, according to a report recently issued by the National Association of Consumer Bankruptcy Attorneys (NACBA). Total student loan debt is approximately $1 trillion, which is about 14 times more than in 1997. Student loan debt has even […]

Bankruptcy and Payday Loans

I am a bankruptcy attorney, so when I file a bankruptcy case I sometimes have to contact lenders to give them notice of the bankruptcy filing and to instruct them to make no further attempts to collect from my client. Lately I have had a lot of contact with creditors who provide payday loans. For […]