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May 1, 2008
Today, in the United States, states have created usury laws in order to set a maximum legal interest rate limit. Because Congress has chosen not to regulate interest rates on a national level, individual states have made the decision to to protect their consumers. Unfortunately, the usury cap is still at a very questionable rate and in the last twenty or so years it has only risen. In the state of Michigan, the usury rate is currently 25%. Which begs the question, why have interest rates been allowed to soar to such outrageous amounts?
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January 28, 2008
As it stands now, Chapter 13 bankruptcy is the most effective tool in saving your home from foreclosure. It allows you to get caught up, while freeing you from other debt you may have. However, there is a call to allow bankruptcy judges to help even more. Jack Kemp, the former secretary of Housing and Development, recently wrote an opinion for the Los Angeles Times. In it, he outlines changes that could make Chapter 13 bankruptcy more helpful to homeowner ’s and the economy in general.
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Creditor Harassment |
How to stop the harassing phone calls
Creditor harassment is usually one of the biggest factors that push someone to finally file bankruptcy. After months, maybe years, of thinking about it and thinking about it, all the calls and threatening letters finally usually push most people to get these people off their backs.
Take action and stop the call
One option you have is writing a cease and desist letter to creditors. This could result in them stop contacting you..
The one secret weapon consumers have against creditors and their harassing phone calls is the "automatic stay." The automatic stay is something that happens automatically the moment after filing bankruptcy. After you file — creditor harassment must stop immediately.
It may be worth using the professional services of a Detroit bankruptcy lawyer to help you.
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