Discharging Debt

Discharging a Debt

Discharging a Debt The only way to judicially “discharge” a debt is to complete a bankruptcy through either chapter 7 or chapter 13 of the U.S. Bankruptcy Act. The final Order in such a proceeding, signed by the Bankruptcy Judge, orders that all debts listed by the debtor are “discharged”. There is much confusion as…

Wells Fargo Fined

Federal government fines Wells Fargo bank $100 million

Federal government fines portfolio recovery associates $8 million! After the 2008 financial crisis, Congress created the Consumer Financial Protection Bureau, as authorized by the Dodd–Frank Consumer Protection Act, as the only federal agency with the sole mission of protecting consumers in the financial marketplace. The Consumer Financial Protection Bureau (CFPB) is an independent agency of…