Occasionally I meet with clients who have one or two issues that are the only reason they contact me to talk about filing Chapter 7 or Chapter 13 bankruptcy. For these ‘single issue’ bankruptcy clients It’s most commonly a GIANT student loan, but I’ve also met with clients who are struggling with one or two payday loans or title pawns, or debt that stems from a voluntary surrender of a car / repossession, or tax debts.
Much of the time, people who call me know that their debts are valid, and these clients ultimately end up filing either Chapter 7 bankruptcy or Chapter 13 bankruptcy.
I also talk to my clients about whether the debt is truly valid–and if there is reason to believe it’s not, then the most important resource I’ve found to help ‘single issue’ clients avoid filing bankruptcy is the Consumer Financial Protection Bureau–and the best part of this website is the place where one can go log a COMPLAINT against the creditor you know has acted illegally.
Do you have debts that are driving your nuts, and where you think that the servicer is going too far with their collection attempts, or where you think the debt is not yours, or you think that the debt is too old to be collectable? If you could make that issue go away, would you still think about filing bankruptcy?
Consider filing a complaint. The creditor must respond to the CFPB inquiry within 15 days and you’ll know at the end of that investigation whether you are truly on the hook.
Of course, I am always happy to talk to you about your debts too.