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What Happens if you Ignore a Debt Collection Agency

Nexa Collect

If you ignore this or fail to defend yourself in court, a default judgment may be issued against you. This can lead to wage garnishment, bank levies, or liens against your property. It’s also important to know your rights under the relevant laws, such as the Fair Debt Collection Practices Act (FDCPA) in the United States.

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You’re in Debt: 9 Terms to Know

The Kaplan Group

Credit Counselor. A credit counselor is certified and trained in consumer credit, money and debt management, and budgeting. Counselors can discuss your entire financial situation with you, and help you develop a plan to solve your money problems. A judgment is the official result of a lawsuit in court.

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10 Common Questions About Bankruptcy

Debt Free Colorado

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge.