Tag Archives: bankruptcy lawyer

What Does a Debt Settlement Company Actually Do?

Kansas City Bankruptcy Attorneys Explain the High Risks and Low Rewards Debt settlement companies claim they will significantly lessen the amount of money owed through negotiation with credit card companies and other creditors. So how does this actually work? To use a settlement company’s services, you stop making payments on the debt itself. Instead, funds are deposited into an account with the debt settlement company. Those funds are in turn used by the settlement company to pay creditors—and the settlement company itself—only after (or if) a settlement amount has been agreed upon. How Do Debt Settlement Companies Make Money? Many companies require substantial up-front fees and/or monthly fees to start the process. Additionally, settlement companies’ fees can include a percentage of the amount of money paid to settle the debt. However, choosing to stop making payments on a debt means additional interest and fees will continue to accumulate on the…
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What Does The Bible Say About Bankruptcy?

Kansas City Attorneys Offer Insight into Modern Law’s Roots Those who adhere to Judeo-Christian beliefs may be surprised to learn that modern bankruptcy laws actually have roots in the Bible. Bankruptcy, even in the aftermath of our recent recession, still has certain stigmas in the minds of individuals who are struggling to pay household bills and debt. However, the idea that people should not be imprisoned for debt and allowed fresh starts is much older than US Bankruptcy law. An article from “The Kingdom Economy” sparked our interest in the Bible and bankruptcy, and we wish to explore these ideas from a legal perspective. Are the Bankruptcy Time Limitations from the Old Testament? In the Old Testament, there is much discussion about laws regarding borrowers, lenders, and the poor. For instance, in Deuteronomy it says, “At the end of every seven years you shall grant a release. And this is…
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Will Bankruptcy Keep Me from Getting a Job?

Our Attorneys Dispel the Myths of Bankruptcy Some people shy away from filing for bankruptcy because they feel there is a stigma associated with it. However, living with bad credit can impact your finances and professional life significantly more than filing for bankruptcy and fixing the problem. For many, the first step towards improving your credit when you are overextended and defaulting on debt is to file for bankruptcy. A common concern for many is whether a bankruptcy filing will affect their employment or future prospects. Will Prospective Employers Know About My Bankruptcy? Bankruptcy should have little to no bearing on your candidacy for a potential job; however, when applying for jobs in the private sector, you may have to submit to a credit check. A private sector employer cannot issue a credit check without your permission. It does not have to be a bad thing for a private employer…
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