A prominent lending expert always jokes regarding the fact that in car financing, any impacts and shocks and other things which the interest rate seem to have are aimed at just the borrowers. The trouble for the lender starts when the borrower succumbs to these shocks and defaults on the car financing installments. It is [...]
Borders Group Inc., owner of hundreds of Borders bookstores across the country, is considering filing for bankruptcy protection. Company executives are finalizing details on store closures, business restructuring, and financing before entering Chapter 11 bankruptcy protection most likely towards the end of February. Currently, executives plan on closing around 150 to 200 stores. Deciding on [...]
Your bankruptcy discharge prohibits certain creditors from collecting from you personally after your bankruptcy case. So what happens when a creditor contacts you after your discharge? The answer depends on the situation and first involves answering three questions: (1) “Was the debt discharged in bankruptcy?” (2) “Is the collection directed at the discharged debtor?” and [...]