Americans are in debt and there is little most of them can do to get out of it. Unfortunately, this means a large number of people are facing what is known as debt buyers. In these instances, it is important to talk to a bankruptcy attorney to avoid the aggressive stance of these bill collectors.
Debt Buying Is Big Business
Debt buying occurs when banks or other creditors sell a large amount of past due debt to a collector.
Chapter 7 bankruptcy is something you could use if you are in bad financial shape and do not earn a great deal of money. Through this type of bankruptcy, you may have the option of keeping the home you own or surrendering it. While there are times when keeping it might be better, here are three reasons you may want to consider giving up your home in your Chapter 7 case.