Credit Corp

MARCH 12, 2025

Dealing with credit card debt is challenging, let alone facing a debt lawsuit.If the creditor wins the lawsuit, you may face serious financial repercussions. Lawsuits also harm credit scores, and the stress from the legal process can exacerbate financial challenges.

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Credit Corp

MAY 19, 2021

Overwhelmed with debt? Whether it’s unpaid credit card debt or medical bills, you might feel like you have nowhere to turn. If you’re seriously considering uprooting your life just to avoid debt, you probably have a few questions. Leaving the country would make it harder for creditors.

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Roths Child Law

MARCH 15, 2023

They may have too much debt to manage Working up a new budget is an important move after losing one's primary stream of income. When they can't find a job that offers comparable pay, they may find themselves unable to pay their bills at all in facing foreclosure, repossession or lawsuits from creditors.

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Credit Corp

JULY 20, 2020

Making payments late or missing payments completely spells bad news for your credit rating. When you miss too many payments, your creditor may charge off the debt. When your debt is charged off as a bad debt, don’t fool yourself into thinking it goes away. Does Charged Off Mean Your Debt Is Paid Off?

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Sawin & Shea

AUGUST 24, 2020

Whether or not you file for bankruptcy also depends on the kind of debt you have. Bankruptcy will wipe out credit card debt, medical bills, and personal loans, but will not eliminate primary obligation debt; things like student loans, child and spousal support, and newer tax debt.

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Debt Free Colorado

FEBRUARY 21, 2022

The Fair Debt Collection Practices Act (FDCPA) applies to collection firms and debt collectors attempting to recover consumer debts. Consumer debts include credit card debts, vehicle loans, medical costs, and school loans. Dray Legal Office can assist you if you are looking for debt relief.

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Debt Free Colorado

DECEMBER 9, 2021

Consider your income, assets, creditors, expenditures, and your ability to pass the means test while selecting between Chapter 13 and Chapter 7. Creditors are prohibited from contacting you after your petition is filed. Bankruptcy Chapter 7 allows for limitless credit; but, significant gains are not permitted.

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Better Credit Blog

APRIL 4, 2022

Agents can simply imply threats, and that’s often enough to prompt payment, such as threatening to call your employer and set up wage garnishment arrangements. But, under federal law, a legitimate debt collector must first successfully sue you in civil court to be able to garnish your wages. Don’t fall for this nonsense.

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Sawin & Shea

OCTOBER 26, 2022

In addition to unsecured personal loans, there are other types of unsecured debts, such as: Medical bills. Credit card debts. Additionally, you can discharge a loan regardless of whether the original lender has the loan or whether the lender sold it to a collection agency or debt buyer. Old lease balances.

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Sawin & Shea

JANUARY 18, 2023

They will work with you to gather your financial records, including all of your debts, expenses, assets, and income streams. You’ll also need to supply the bankruptcy court with a list of creditors, an income statement, and copies of your tax records. Additionally, your creditors will not be allowed to contact you.

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Troutman Sanders

AUGUST 29, 2023

District Court for the Western District of New York granted the plaintiff’s motion for class certification for alleged violations of the Fair Debt Collections Practices Act (FDCPA) relating to an allegedly improper debt assignment notification. The plaintiff never repaid the garnished money. In McCrobie v.

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Roths Child Law

JANUARY 31, 2023

If you are struggling to pay your debts, you have a number of options at your disposal. You can approach your creditors for a waiver or negotiate a repayment plan that will work for you. However, if you are dealing with secured debts like a mortgage or a car loan, then you need to file Chapter for 13 bankruptcy.

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Better Credit Blog

APRIL 1, 2022

To remove Capital One Collections from your credit report, you first need to know who currently owns the debt. In other words, has Capital One sold your unpaid credit card debt to another collection agency, or is the debt still with Capital One? Why would this kind of debt settlement work?

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Credit Corp

DECEMBER 14, 2020

Whether you have medical debt, credit card debt or unpaid student loans , getting calls or letters from debt collection companies can be frustrating. But it’s especially frustrating if your debt is several years old. How Long Can a Debt Collector Pursue an Old Debt? Validate the debt.

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Sawin & Shea

SEPTEMBER 28, 2022

You worry about creditors and wonder if you will be able to stay in your home and keep your car. Will it prevent you from being hired for future jobs if it shows up on your credit report? In rare cases, your repayment plan in Chapter 13 bankruptcy may require your wages to be garnished. Yes, if the company runs a credit report.

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Sawin & Shea

JANUARY 24, 2024

The court sells off your nonexempt assets and uses the proceeds to pay your creditors. The remaining qualifying debts are discharged, meaning you are no longer responsible for paying them back. Your assets are protected while you make monthly payments to creditors through the court. I have seen it many times in my practice.

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Credit Corp

AUGUST 31, 2021

How Long Can a Debt Collector Pursue an Old Debt? Each state has a law referred to as a statute of limitations that spells out the time period during which a creditor or collector may sue borrowers to collect debts. In most states, they run between four and six years after the last payment was made on the debt.

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Sawin & Shea

JUNE 7, 2023

Cosigner Responsibilities: Bankruptcy and Debt Collection If a primary borrower declares bankruptcy, the co-signer associated with the debt may be responsible to pay back creditors, but this will depend on the type of bankruptcy that the primary debtor filed. Unlike Chapter 7, filing Chapter 13 offers protections for co-signers.

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Credit Corp

MAY 3, 2023

Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Through the bankruptcy, the debtor restructures and then creates and implements a plan to pay back creditors. The Trustee’s office then pays various creditors. What Is Chapter 7 Bankruptcy?

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Sawin & Shea

SEPTEMBER 20, 2023

Upon filing a Chapter 7, you receive automatic court-oredered protection from creditors and aren’t subject to lawsuits, repossessions, or wage garnishments. In Chapter 13 you enter into a reorganization plan that forces your creditors to take what the law says you can afford, or what you have to pay them.

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Sawin & Shea

MARCH 7, 2023

When you file for Chapter 7 bankruptcy, the Court will place an automatic stay upon filing, which stops creditors from collecting payments, garnishing wages, or repossessing property. You will need to disclose all of your credit cards that have a balance on them when you file. What Are Your Bankruptcy Lawyer Fees?

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Debt Free Colorado

DECEMBER 23, 2024

This where knowing Colorado unsecured debt examples can be helpful. Unsecured debt is a type of debt that is not backed by collateral. If you fail to pay, creditors cannot take your belongings. In this article, we will explore the types of unsecured debts that bankruptcy can erase. Unsecured debt can be stressful.

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Sawin & Shea

NOVEMBER 15, 2023

If a debtor has assets that are not protected under those statutes, the trustee can liquidate those items and use the proceeds to pay creditors back something. Chapter 13 involves commitment from the declarer to repay a portion of their debt over a specified period (usually three to five years). What is the difference?

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Sawin & Shea

MAY 2, 2024

Whether you’re facing foreclosure , repossession, wage garnishments, or relentless creditor harassment, our expertise in bankruptcy law can offer the protection and relief you’ve been seeking. Rather than settlements or minimum payments to each creditor, a single payroll deduction is made to fund your plan over 3-5 years.

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Sawin & Shea

MARCH 6, 2024

Also, if your credit score is already quite low, you may not be able to qualify for low interest which makes debt consolidation a useful method of debt management. How Does Debt Consolidation Work? Creditors do not have to participate. The issue with these programs is that they are voluntary.

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Taurus Collect

JANUARY 24, 2023

But while it can be exciting to think about that refund cheque hitting your bank account soon, there’s another equally pressing reason why you should pay attention this tax season – debt collection! These companies typically employ several tactics in order to recover debt, including phone calls, emails, letters, and even legal action.

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Sawin & Shea

JUNE 14, 2023

Declaring Bankruptcy Before a Divorce If you’re on good terms with your spouse and are struggling with unsecured debts, you may want to consider filing Chapter 7 bankruptcy before your divorce. Additionally, filing for bankruptcy before a divorce can save you the headache of dealing with creditors in the future.

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Collection Industry News

SEPTEMBER 23, 2020

Many consumers who are sued for outstanding debts do nothing, and that is generally a big mistake. The survey data showed that more than 70% of debt collection suits ended in default judgments. Whatever the reason, ignoring a debt collection lawsuit can mean big trouble. Bond & Botes Helps People Struggling with Debt.

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Sawin & Shea

SEPTEMBER 27, 2023

The money earned from these sales then goes to the creditors and any remaining balances on the debts are discharged. In some cases, debt collectors may take legal action by filing a lawsuit against you to obtain a court judgment. The Court can sell all nonexempt possessions and assets. What Are My Exempt Assets?

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Sawin & Shea

MARCH 20, 2024

If you’re worried about garnishments, foreclosures , lawsuits, repossessions , or other consequences of your debt, connect with an experienced bankruptcy lawyer at Sawin & Shea as soon as possible. Choosing the right solution is a big step that could affect your life for years to come. You deserve a fresh start.

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Sawin & Shea

MARCH 27, 2024

This bankruptcy protection will prohibit a collection agency or another creditor from recovering debt or taking action against you. The bankruptcy trustee will oversee the process of liquidating non-exempt assets to repay your creditors, and they will organize a 341 meeting, also known as the Meeting of Creditors.

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Public Citizen

OCTOBER 29, 2020

Puerto Rico, and the Virgin Islands that protect wages, assets in a bank account, and property from seizure by creditors. “By Only when stimulus checks were deposited in families’ bank accounts and garnished by debt collectors did many states realize that they had no state laws to protect a basic amount in a family’s bank account.

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