Tag Archives: debt settlement

Debt Settlement and Credit Repair Scams

Recently, we wrote about the difference between bankruptcy and debt settlement. Included in that post were several warnings about credit repair scams. We’ve all seen the advertisements, which are typically full of empty promises. Far too often we receive phone calls from individuals or families that were taken advantage of by so called “debt settlement companies” because of the difficult situation they were in. The Federal Trade Commission (FTC) recognizes this is a large problem and prepared a list of several “Credit Repair Scam” warning signs that we wanted to pass along. You’re likely encountering credit repair fraud if a debt settlement company: insists you pay them money before they do any work on your behalf; tells you not to contact the credit reporting companies directly; tells you to dispute the information on your credit report – even if you know its accurate; tells you to give false information on…
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How is Bankruptcy Different from Debt Settlement?

You have probably seen the television commercials: Debt settlement or consolidation firms promising to solve your debt problems for pennies on the dollar. Unfortunately, for most consumers, the end result does not match the promises made. At The Sader Law Firm in Kansas City, Missouri, we assist individuals, couples and businesses solve their debt problems and look forward to a brighter financial future. Before you spend hundreds or thousands of dollars on a debt settlement or consolidation program, contact us for a free initial consultation to explain your bankruptcy options. How Does Debt Settlement or Consolidation Work? With typical debt settlement programs, you make payments to the debt settlement company instead of your creditor. After you have paid the company a required amount, it will negotiate with your creditors. Unfortunately, your creditors aren’t required to negotiate with the debt settlement company and many refuse to do so. Your creditors are…
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Bankruptcy Fact or Fiction

How much do we know about bankruptcy? We see television commercials and hear about famous people that have filed from the tabloids and it’s just human nature to make assumptions made when it comes to bankruptcy that just are not true. Cause Many people have never experienced severe financial hardship. Many believe that individuals who file for bankruptcy are just irresponsible when it comes to managing their money. This is not true. Many bankruptcies are a result of medical costs such as an unforeseen long-term illness that can have a devastating effect of a family’s finances. Other times individuals may be overwhelmed with legal costs associated with divorce or a wrongful conviction. Many times bankruptcy is just a result of an individual experiencing an unforeseen event in their life. Effect Think bankruptcy will remove any and all debts? Not so fast. If you have past child support payments before the…
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