How does the debt collection process work on an unsecured loan?

Posted November 27, 2009 – 8:03 am in: Personal Finance

I am 105K in debt(mortgage, student loan, car and the unsecured loan) and lost my former job due to lack of work. I got a new job but I am out 15K/yr. Through much juggling, I am paying off everyone except the unsecured loan on which I am paying 30/month(they want 260/mth) and they are [...]

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Understanding Bankruptcy to Handle the Process Better

Posted October 31, 2009 – 2:16 pm in: Bankruptcy

The term Bankruptcy means the legally declared inability of an individual or an organization to pay their credits. Involuntary bankruptcy is the situation in which the creditor may file a bankruptcy petition against a debtor to recover a portion of the amount dues him. Generally in a majority of cases, bankruptcy is initiated by the [...]

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