Debt Relief Agency

Any person, including an attorney or other specialist, who provides bankruptcy assistance to a debtor classified as an assisted person under the United States Bankruptcy Code for a monetary fee or other consideration, may be referred to as a debt relief agency. The definition of a debt relief agency, however, does not extend to nonprofit organizations, depository institutions, creditors of assisted persons, or publishers, distributors, authors, or sellers of works which are subject to copyright protection. The new changes to the United States Bankruptcy Code which were enacted by Congress and signed into law in 2005 spell out the guidelines regarding what a debt relief agency can and can not do when consulting someone on a potential or ongoing bankruptcy filing.

Fast Facts

  • Bankruptcy filings rose by 23% in Missouri in 2009.
  • 17% of total bankruptcy filings in New York were Chapter 13 filings in August 2009.

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Articles

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  • Avoiding Debt Relief Scams

    Unfortunately there are many companies seeking to make money from those who find themselves in financial diffi...
    • Site: lawfirms.com
    • 12 of 13 user(s) found this useful
  • 5 Ways to Deal with Debt Collection Agencies

    A debt collection agency is a company that works on behalf of a lender to collect a debt that has been unpaid....
    • Site: lawfirms.com
    • 8 of 11 user(s) found this useful
  • Mississippi Debt Collection Laws

    The federal government has taken a great interest in protecting the rights of those who find themselves facing...
    • Site: debtsettlementlawyers.com
  • Kansas Debt Collection Laws

    Any time a person owes someone a financial obligation, he/she is said to be in debt. Usually, citizens of Kans...
    • Site: debtsettlementlawyers.com
    • 1 of 1 user(s) found this useful
  • Ohio Debt Collection Laws

    Borrowers are legally required to pay their debts and if they do not do so, their creditors have a right to co...
    • Site: debtsettlementlawyers.com

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