Debt Collection Attorney vs. Debt Collection Service: Key Differences


If you are a creditor and you are unable to recover loans from your borrowers then you should consider working with a debt collection service. However, you need to understand the different types of debt collection services available out there, with the main ones being services of a debt collection attorney and of a debt collection company. While they both may sound the same, there is a huge difference between the way they operate.

Understanding Debt Settlement

First and the foremost, it is imperative to understand how debt settlement works. Whether you hire an attorney or a company, they will work on your behalf to collect the debts from the borrowers by either cutting deals or filing suits in the court.
http://www.ruffilaw.com/debt-collection-attorney-vs-debt-collection-service-key-differences/

A Bankruptcy Lawyer Discusses How to Determine Chapter 7 Eligibility


If you are thinking about filing for Chapter 7 bankruptcy, you need to understand the different criteria you will be judged on. In most cases, your bankruptcy lawyer will let you know immediately you whether or not you are eligible for bankruptcy. In general, your income needs to meet a certain threshold, you must not have filed for bankruptcy during a certain period, and you need to convince the court of your case.

Here are a few scenarios in which you won’t be able to file for Chapter 7 bankruptcy.

Your Income Meets Debt Payment Criteria

Unlike before, there is specific criteria on who can stay in Chapter 7 bankruptcy when it comes to debt repayment. Previously, it was up to the judge to decide whether you are eligible for Chapter 7 bankruptcy. For instance, if the judge believed you to have the income to fund a repayment plan through Chapter 13, then he or she had the power to force you to do so.
http://www.ruffilaw.com/bankruptcy-lawyer-discusses-determine-chapter-7-eligibility/