We'll continue our earlier discussion of debt collection and Massachusetts law in this post. The information regarding fair debt collection practices is intended not as specific legal advice, but as a general background on the topic.
It's a nightmare situation for many Quincy residents: the phone rings and the caller starts making demands, eventually escalating to threats. They won't say who they are, but they keep calling back, sometimes in the middle of the night. They call at work. It seems they can get away with all manner of harassment and intimidation, all because a debt has fallen into collection.
Finally, having looked previously at debt consolidation in general and debt consolidation loans in particular, we'll turn this week to an examination of credit card balance transfers. Quincy residents are likely familiar with this type of consolidation from advertisements in the mail. While a credit card balance transfer has some benefits, it is important to distinguish between it and true debt relief.
To continue from an earlier post on our Quincy legal issues blog, we'll now take a look at a few common options for consolidating debt: consolidation loans and credit card balance transfers. The information is intended to be general in nature only, not as specific legal advice.
Many Quincy residents struggling with credit card debt are desperate for solutions. Anything that can help reduce their monthly payments, or even let them make fewer payments, may be considered if it promises some measure of debt relief.
After we wrote recently here on our Quincy legal issues blog about two major grocery chains struggling with debt and reportedly preparing for bankruptcy, we should pause to address a question some readers are likely to have. While it's true that bankruptcy can allow big businesses to reorganize in an effort to return to profitability, does Chapter 11 offer debt relief for a small business?
Many retail businesses in Quincy are used to getting by on tight margins and increasingly tough competition, but perhaps none more so than grocery stores. Factor in cuts to food stamp subsidies as well as Amazon's recent acquisition of Whole Foods in preparation to expand its own presence on the ground, and some grocery stores are wondering what their exit strategy will be if business is no longer sustainable.
There are many things that Massachusetts residents look forward to as they transition from one calendar year to the next. They may make big plans to acquire new skills and pursue new lines of work in more appealing industries. They may decide to expand their families or recommit to spending more time with the people that they love. One thing, though, that no one looks forward to is managing the bills and debts that they acquired over the holiday season.
It seems that, as we age, our bodies simply can't keep up the way they did in our younger years. Seniors in Massachusetts and across the nation may find that they are increasingly racking up medical bills all while living on a fixed income. This can put them in a very precarious financial situation. While some may find that they just need to "tighten their belts" for a little while, others may find that their medical expenses are more than they could ever afford.
Sometimes your business does not work out as you planned. If you are in financial turmoil with your business, you might be considering bankruptcy. Filing for bankruptcy can be a scary and intimidating thought, but it is sometimes necessary and even helpful. The bankruptcy process helps you eliminate or repay your business debt.