Homemaking guru Martha Steward likes to describe some of her recipes and decorating flourishes as “good things”. Well, one of the Columbus bankruptcy lawyers who works in the Zuckerberg bankruptcy law offices there once said something I remember as a “very good thing” – When someone does something nice, give them credit, whether you like them personally or not. A recent news article I read made me recall that concept:
In Alberta, Canada, there’s been severe flooding, ruining homes and displacing many residents and retailers. One Canadian credit repair company, Canada Credit Fix, decided to help by donating to the Red Cross Flood Relief Fund as well as by donating several homes the company owns to homeless families. Credit Fix employees took part in a voluntary food program to help, as well.
All my regular Bankruptcy in Indiana readers know that I’m less than fond of credit repair companies. In fact, the Federal Trade Commission isn’t very fond of them, either. Credit repair companies often tell debtors that their debt can be cut in half, or that they can remove bankruptcy, slow pay history, repossessions, and collections from their credit report. In the worst cases that were uncovered. Debtors had allowed the credit repair services to deduct money from their bank accounts, and then no services were ever provided!
What you need to know as an Indiana resident is that the Fair Debt Collection Practices Act regulates debt collectors, including credit repair companies. Every good bankruptcy attorney in Indiana cautions debtors to avoid becoming victims of debt collection abuse.
One of the themes I have kept coming back to over my 26 ½ year career is how crucial it is to get expert legal advice at the first signs of a financial downslide, and how it’s important not to put this off. Whether or not filing individual bankruptcy in Indiana is going to me the recommended course of action in your case, you need to understand all your options. Some of the “wrong places” to look for advice, I’ve repeated, can include debt settlement agencies, credit counseling services, foreclosure prevention services, and – credit repair.
In all fairness, though, all my reservations about credit repair don’t take away from a good deed done, and I must compliment Canada Credit Fix for doing good deeds for the people in Alberta, Canada!
Categorised in: Bankruptcy Indiana
This post was written by Mark Zuckerberg