Discharge of Debt

The American Bankruptcy Institute’s Commission on Consumer Bankruptcy issued its final report last week.   This is the first in a series of articles about those recommendations.  To see more information about the Commission, follow this link.

Payday loans are a common source of quick cash if you are in trouble.  It’s the local loan shark; you know you should avoid but you can’t.  Sometimes payday lenders think they’re special in bankruptcy court.  They aren’t.

What can you do about a judgment lien filed against you by a creditor or debt buyer that is now out of business?

Law firms like Mann, Bracken that have closed down, filed bankruptcy themselves, or otherwise disappeared still appear as judgment creditors on thousands of credit reports.  In many cases, you may have legitimate grounds to challenge these judgments: