Monthly Archives: December 2018

//December

​What to do if Your Car Has Been Repoed

2019-02-28T15:20:12-04:00

My Car was Repoed: What do I do Now? If you have secured debts such as vehicle loans and you default on the loans, the creditor has the right to repossess the collateral if they can do it without disrupting the peace. This is why repossessions are often done in the middle of the night after you have missed two or more payments and the bank has threatened to repossess your vehicle. If your car has been repoed, our team can help. What do you do if you wake up and your car is missing from your driveway? It depends on [...]

​What to do if Your Car Has Been Repoed2019-02-28T15:20:12-04:00

Understanding Debt Collection Laws

2019-02-18T12:09:24-04:00

Are You Being Harassed by a Debt Collection Agency? We can Help When you fail to pay a debt, it is not uncommon for the party you owe to turn the debt over to a collection agency. However, state and federal laws regulate how these debts may be collected. All debt collectors must adhere to the standards of the Fair Debt Collection Practices Act, and at the same time, in Georgia, there are additional laws that the state has in place that must also be followed. Georgia Debt Collection Laws The Office of Consumer Affairs regulates the laws of debt collection in Georgia. These [...]

Understanding Debt Collection Laws2019-02-18T12:09:24-04:00

​​What is Bad Debt and How do I Get Rid of it?

2019-02-18T12:09:15-04:00

What You Should Do If You Have Bad Debt Bad debt happens when one party loans money to another party, but the party borrowing the money fails to repay the debt as agreed upon. For example, the borrower failed to make monthly payments as agreed or completely defaults on the loan completely. This makes the debt bad because the lender loses a portion of their investment. This type of debt is particularly a problem for both non-business and business lenders. Instead of providing a return on their investment, a bad debt situation creates legal and financial issues and often stalls income. That makes it imperative [...]

​​What is Bad Debt and How do I Get Rid of it?2019-02-18T12:09:15-04:00

​​When Does Debt Forgiveness Result in Tax Implications?

2018-11-28T10:42:27-04:00

Understanding Debt Cancellation & Debt Forgiveness When you lose your job or have an unexpected injury or illness, the result can be financial devastation. Such financial demise often leads to a debt settlement agreement or even bankruptcy. While this may seem like a good idea, there can be some stiff penalties for relief such as debt forgiveness. When a creditor agrees to forgive a debt without consideration in return, it means that they cancel the debt. While that may sound good to start with, cancellation of debt is considered income for the debtor and is taxable. In some cases, however, the [...]

​​When Does Debt Forgiveness Result in Tax Implications?2018-11-28T10:42:27-04:00

Bankruptcy Options for Medical Debt

2019-07-18T15:56:36-04:00

What to Do if You Have Medical Debt Medical treatments are not cheap, and consequently, the high costs associated with medical debt is one of the biggest causes of bankruptcy across the country, including in Georgia. In some situations, even people with insurance can be overwhelmed with debt from medical bills. An experienced debt settlement and bankruptcy attorney like those at Cornwell Law Firm can often help you overcome such difficult financial situations. Below are a few options for handling overwhelming medical bills. Double Check Insurance and Billing Errors: Once you receive your medical bill, check it thoroughly for errors. Make sure you were [...]

Bankruptcy Options for Medical Debt2019-07-18T15:56:36-04:00

​Tips For Dealing with Debt Collectors and Creditors

2019-02-28T15:23:16-04:00

How to Handle Debt Collectors & Creditors Have you ever forgotten or been unable to pay a bill and had it go to collection? It happens from time to time, but there is no need to panic. When you are dealing with debt collectors and creditors, you still have rights due to the Fair Debt Collection Practices Act. If you are dealing with such issues, there are a few things that you need to know when debt collectors and creditors come knocking at your door or calling you on the phone. Request the Information in Writing: A debt collector, within five days of contacting [...]

​Tips For Dealing with Debt Collectors and Creditors2019-02-28T15:23:16-04:00
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