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Bankruptcy and Debt Relief help for residents in Alabama, Florida, Mississippi, and Tennessee. Contact a local Bond and Botes office near you to get started. 877-ONE-DEBT.
Bankruptcy and Debt Relief help for residents in Alabama, Florida, Mississippi, and Tennessee. Contact a local Bond and Botes office near you to get started. 877-ONE-DEBT.
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Bankruptcy In The News

 

 


Debt Collector Abuse on the rise

  Posted: December 12th, 2011

As consumers struggle to pay their bills, complaints about debt collectors are growing faster than those in any other industry, regulators say. The Federal Trade Commission reports that the number of complaints about debt collectors rose from 104,766 in 2008 to 140,036 in 2010. The FTC receives more complaints of debt collection harassment (debt collection industry) than any other industry. The Fair Debt Collections Practices Act (FDCPA) provides consumers many rights while a debt collector is trying to collect money from debtors.

Debt collectors may not harass, oppress, or abuse you or any third parties they contact. For example, debt collectors may not use threats of violence or harm, publish a list of consumers who refuse to pay their debts outside of a credit bureau, use obscene or profane language, call before 8AM or after 9PM, make threats such as arrest for not paying your debt, among other actions such as making false statements.

A USA Today article explains one story of a debtor harassed by a debt collector. If you feel you are being harassed by debt collectors, or are in need of immediate debt relief, please contact one of our offices today for a free consultation. (read the full USA Today article)
 

 

Reporter's notebook: Pardon Jefferson County, but fewer Alabamians resorting to bankruptcy 
Posted: November 21st, 2011

Alabama has joined a national trend, in which U.S. personal bankruptcy filings totaled 106,255 during October, down nearly 20 percent from a year earlier, according to the American Bankruptcy Institute's analysis of data from the National Bankruptcy Research Center.

"The declining filings correlate to tightened consumer spending and the overall pull back in consumer credit associated with a stagnant economy," American Bankruptcy Institute Executive Director Samuel J. Gerdano said in a statement. "We expect total 2011 consumer filings to be less than 2010."

Brad Botes, a partner in the Birmingham-based Bond and Botes law firm, which represents bankruptcy clients across the Southeast, said he is not surprised that the number of filings are on the decline from the height of the economic downturn two years ago.

"The numbers reflect a sense of hopelessness," Botes said. "Bankruptcies are down significantly from last year. I think that shows that a lot of people suffering in this economy have given up and feel there is no way out so why file."

Please visit the AL.com website to read the full article.  



Job loss, a weakened economy, medical problems, or other un-foreseen life issues can cause major financial struggles for all Americans. Bankruptcy protection can help Americans struggling with the burden of debt obtain much needed financial relief. If you are facing foreclosure, vehicle repossession, or abusive debt collectors and harassment, the attorneys of Bond and Botes may be able to help you seek the financial relief you need and give you a fresh start. If you live in Alabama, Tenessee, or Mississippi, contact one of our offices to arrange a free consultation.

 

New rules will protect against debt relief outfits
  Posted: October 18th, 2010

Consumers complaining about high fees from companies that sell debt-relief services will soon get some protection from Uncle Sam. Starting October 27th, 2010, for-profit firms will be banned from charging a fee before they settle or reduce a customer's credit card obligation or other unsecured debt. The Federal Trade Commission's new rules, listed on ftc.gov, cover telemarketers of for-profit debt relief services, including credit counseling, debt settlement and debt negotiation services.

Birmingham bankruptcy lawyer Brad Botes and Doug Horst, program manager of the non-profit Consumer Credit Counseling Service, said the FTC ruling is over-due. Botes, a partner in Bond, Botes, Reese & Shinn, and Horst, whose agency provides low-cost counseling to debtors, both said many of their clients have been victimized by debt settlement companies.  (read the full article)
 

 

New rules will protect against debt relief outfits
  Posted: October 18th, 2010

Consumers complaining about high fees from companies that sell debt-relief services will soon get some protection from Uncle Sam. Starting October 27th, 2010, for-profit firms will be banned from charging a fee before they settle or reduce a customer's credit card obligation or other unsecured debt. The Federal Trade Commission's new rules, listed on ftc.gov, cover telemarketers of for-profit debt relief services, including credit counseling, debt settlement and debt negotiation services.

Birmingham bankruptcy lawyer Brad Botes and Doug Horst, program manager of the non-profit Consumer Credit Counseling Service, said the FTC ruling is over-due. Botes, a partner in Bond, Botes, Reese & Shinn, and Horst, whose agency provides low-cost counseling to debtors, both said many of their clients have been victimized by debt settlement companies.  (read the full article)
 

Debt-settlement firms' claims often unsettling
  Posted: October 18th, 2010

With the economy in the tank and the unemployment rate hovering around 10 percent, many consumers are finding more difficult to pay their bills. For many consumers, promises made by debt-settlement companies to "get you off the credit card treadmill" or to "eliminate debt now" may sound like a great solution, but it's not always the case. In most cases, experts say, signing on with a debt-settlement company will put you further in the financial hole. In some cases, the companies are fraudulent and take your money with no intention of helping you.

Problem Solver Jon Yates of the Chicago Tribune examines the issue and how new federal rules aim to clamp down on the some of the most criticized practices used by these debt-settlement firms.  (read the full article) Chicago Tribune
 

How long does a debt collector have to sue after a credit card ahs been canceled?
  Posted: October 4th, 2010

How old is too old when it comes to being sued for an old debt? If you are sued for an old debt, you may have a good defense. Debt collection lawsuits must be timely, accurate and fair. Debt buyers purchase old debts for pennies on the dollar, use data bases to file automate lawsuits, and make huge profits. With new technology, the 11 billion-per-year debt collection industry has exploded, especially in the courts. (read more) AARP



Our view on bill collectors: Firms employ questionable techniques to collect debts
 
  Posted: September 28th, 2010

The easiest way to avoid being chased by debt collectors is, obviously, to pay your bills. That said, collection agencies have a responsibility to obey the law and treat consumers fairly. At a minimum, collectors have a duty to ensure that the debts they're trying to collect are real and that their targets are the people who owe them.

But as debt collection has grown into a huge business, those rules are easily flouted. The past decade's easy credit — followed by a crash and a recession — left billions of dollars in unpaid bills. Banks, retailers and other credit card issuers charged off more than $86 billion in debt last year, more than twice as much as in 2000, according to the Nilson Report.

Resourceful debt collectors are also finding sneaky new tactics: According to reports from Las Vegas and Vancouver, attractive women — who fail to mention they're working for collection agencies — become Facebook "friends" with debtors, giving the agencies access to personal information.

Computer-generated lawsuits are filed by the thousands in states across the country. Anecdotal evidence suggests that many consumers never find out they've been sued. In New York, for example, process servers were found to be filling out false affidavits claiming they had served people.  (read more) USA Today
 

Foreclosure prevention program problems
  Posted: September 28th, 2010

Across the country foreclosure rates have reached an all time high. The Obama administrations flagship foreclosure program, called Making Home Affordable, is not working according to the federal government. The program was designed to help homeowners reduce their mortgage payments. Only 34% of those who enrolled in the program have actually received permanent loan modifications.  (read more) WLBT 3
 



> MORE BANKRUPTCY NEWS

*Bankruptcy information contained in this section may not necessarily be written or provided by Bond and Botes directly.

 
 

 
 

About Bond and Botes

 


Bond & Botes
has offices in 3 states, Alabama, Mississippi, and Tennessee. working for you. Our job is to help you get relief from your debts. We’ll help you stop foreclosure, stop liens, stop garnishments, stop repossessions, stop harassment and stop those evening phone calls from creditors! How? We are Debt Relief Agencies and Attorneys at Law who help people file for bankruptcy relief under the Bankruptcy Code. Credit card companies, banks and other lenders have lawyers to represent them ?our job is to represent you.

We’ve helped thousands of clients ?people just like you ?get relief from millions of dollars in debt. We’ve saved people’s homes, cars, furniture, jobs and peace of mind. We’ve stopped the harassment, the phone calls and letters, the garnishments, liens, repossessions and foreclosures. At Bond & Botes, WE STOP DEBT so you can go on with your life.
 

 


 


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