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Who Can File Chapter 13 Bankruptcy

Who Can File Chapter 13 Bankruptcy Six Steps to Debt Consolidation   Any individual, even the self-employed or an unincorporated business-owner, is eligible for Chapter 13 relief as long as their unsecured debts are less than $383,175 and their secured debts are less than $1,149,525.  Chapter 13 filers must also have received credit counseling from an approved credit counseling agency either in an individual or group briefing within 180 days Read More

Four Advantages of Chapter 13 Bankruptcy

Four Advantages of Chapter 13 Bankruptcy Why Debtors Choose Repayment, Not Liquidation Chapter 13 Bankruptcy, also known as a “wage earner’s plan,” allows individuals with regular income to develop a plan to repay all or part of their debts.  The repayment plan may include installment payments to creditors for a period of three to five years. If the debtor’s monthly income is less than the state median, the plan will Read More

What is Chapter 7 Bankruptcy?

What is Chapter 7 Bankruptcy? Liquidation of Debtor’s Property Pays Creditors Chapter 7 Bankruptcy is the chapter of the United States Bankruptcy Code that allows for liquidation of a debtor’s property and the distribution of the proceeds to the debtor’s creditors.   According to the U.S. Courts, Chapter 7 is the most common form of bankruptcy in the United States. In order to qualify for Chapter 7 bankruptcy, the debtor may Read More

How Can Creditors Collect on a Secured Debt?

5 Ways to Recover a Loan There are several ways that a creditor can attempt to collect on a loan that has gone into default.  In most cases, creditors must first sue a debtor in order to win a money judgment against the debt, unless that debt is guaranteed by collateral. In the case of guaranteed debts, collection can occur in a variety ways including repossession, foreclosure and court action Read More

8 Steps to Hiring a Successful Collection Agency

8 Steps to Hiring a Successful Collection Agency Many companies can be easily weighed down by inefficient internal collection departments which draw valuable resources from traditional billing.  Instead of continuing efforts to collect on old accounts, many companies choose to hire a reputable collection agency.  This decision can substantially add to the bottom line. Once the decision is made to hire a collection agency, it’s important to understand that not Read More

What is Secured Debt?

What is Secured Debt? A Creditor’s Right to Reclaim Property  Secured debts are debts that are connected to a high-value material good (car, home, art) that can be used as collateral for payment of the debt. Secured debt is generally agreed upon with a contract.  In the case of a home loan, the creditor will ask the debtor to sign a mortgage or deed of trust that allows the creditor Read More

Debt Collection Terms

Understanding Bankruptcy and Debt Collection We have compiled an extensive list of commonly used terms in debt collection.  Some of the terms are very basic while others warrant a longer explanation.  Underlined terms offer more details by clicking on them. ADR (Alternative Dispute Resolution aka Appropriate Dispute Resolution) – Describes methods used to resolve disputes out of court like negotiation, conciliation, and mediation.  ADR is usually less expensive, faster, and Read More

What does Bitach mean?
Bitach is the Hebrew word for Trust.  It’s the most important job we have, to build the trust of our clients on a regular basis. That includes courtesy when it comes to contacting consumers on behalf of our clients.  Our team of professionals is dedicated to ethical practices and treating everyone with the respect they deserve.

Bitach is proud to be a full-service Account Receivables Management Firm with offices across the country.  We invite you to browse the various companies that comprise Bitach and share your thoughts and questions.