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. News , interest charges can pile up, and your wages may be garnished.

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Sawin & Shea

MARCH 6, 2024

Understanding Debt Consolidation Debt consolidation is the process of taking out a brand-new loan and using the money to pay off other loans or debts. Pros & Cons of Debt Consolidation Debt consolidation can be great if you qualify for a loan with a low enough interest rate.

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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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Sawin & Shea

JANUARY 18, 2023

Filing Chapter 7 bankruptcy provides you with an automatic stay that prohibits creditors from being able to take any action to collect a debt against you, such as repossessions, wage garnishment, and legal action. Additionally, your creditors will not be allowed to contact you.

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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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Sawin & Shea

SEPTEMBER 28, 2022

For example, if you have been having your wages garnished to pay back a persistent creditor, your employer would be aware that this is no longer necessary since you are in the process of Chapter 7 or Chapter 13 bankruptcy. In rare cases, your repayment plan in Chapter 13 bankruptcy may require your wages to be garnished.

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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.

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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. Did you already file a tax return related to this debt in the years prior to this one? You deserve a fresh start.

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Sawin & Shea

MARCH 7, 2023

Chapter 7 bankruptcy, also known as liquidation or straight bankruptcy, can help those having financial difficulties clear away various types of debts. 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.

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Collection Industry News

JUNE 1, 2023

Expanding Debt Markets: Debt markets have witnessed significant expansion in recent years, both in developed and emerging economies. The growing complexity of financial products, such as credit cards, mortgages, and student loans, has led to a surge in outstanding debts.

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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. However, the UCCC does not cover all consumer transactions.

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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.

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Sawin & Shea

FEBRUARY 2, 2022

Credit card debt can be debilitating. When your bills are more than you can handle and you are struggling to get by, debt relief options can help. However, it’s important to understand that there are various forms of debt relief, and they are not all right for everyone. Debt Management Programs.

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Taurus Collect

JANUARY 24, 2023

Finally, if none of these strategies prove successful in getting you to pay up, some debt collection companies may take legal action against you. By understanding the strategies used by debt collection companies, you can get ahead financially and protect yourself from becoming overwhelmed by unmanageable piles of unpaid bills in the future.

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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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Credit Corp

MAY 3, 2023

Bankruptcy does have some benefits, such as potentially putting a stop to wage garnishments or foreclosures. Usually during a Chapter 13 you only pay off part of your debts. Priority and secured debts, such as taxes or auto loans, are paid in full. The Trustee’s office then pays various creditors.

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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. If that is correct, the lawsuit will be dismissed.

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Credit Corp

AUGUST 31, 2021

Judgments may give collectors additional collection powers, such as access to the money a debtor has in their bank account or the ability to garnish wages to collect the judgment. To prevent this, all a borrower has to do is appear in court at the appointed time and explain that they have a time-barred debt. You default on that debt.

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Sawin & Shea

JANUARY 24, 2024

At the end of the plan, any unpaid balances on the qualifying debts are discharged. The Pros Bankruptcy can stop foreclosures , repossessions, lawsuits, wage garnishment, utility shut-offs, and debt collection activities through its automatic stay provision. Any debts not discharged, like student loans, remain.

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Debt Free Colorado

DECEMBER 9, 2021

Unlike Chapter 7, Chapter 13 bankruptcy enables you to decrease the interest rate on your vehicle loan and, in certain situations, the total amount owed. It’s a relatively straightforward technique to eliminate the majority of your debt. . Chapter 7 is a disaster when it comes to secured debt. .

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Collection Industry News

SEPTEMBER 23, 2020

However, over the past several years, the civil courts in most states have been overrun by debt collection cases against consumers. The increase in lawsuits filed against consumers for unpaid medical debt, credit card bills, automobile loans and other collection issues comes as no surprise to attorneys and others working in the industry.

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Credit Corp

JULY 20, 2020

When your debt is charged off as a bad debt, don’t fool yourself into thinking it goes away. A charged off debt can lead to harassing phone calls, garnished wages, and a major drop in your credit score. According to the Federal Reserve, consumer loans had a charge-off rate of around 2.3%

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