1. Debt collectors are NOT under oath when they are talking to you. There are restrictions on what they can say, but exagerration, saying what might happen if you do not pay, are allowed. 2. They are not trying to help you! They are not trying to work things out, come up with a plan [...]
garnishment
Yup. Scared? Â Well, it just not so simple as that, so don’t believe the collectors when they call and say they will have you arrested and put in jail for not paying a debt. Â While it is possible, there are a lot of safeguards for consumers in financial trouble, including bankruptcy. Let’s start with [...]
You can’t turn on a radio or watch TV without hearing or seeing commercials for debt settlement companies that suggest that they are a better choice than bankruptcy.  Many, including myself, believe that these companies are scams. There have been several articles on the Bankrptcy Law Network site that discuss the problems with debt collection companies, [...]
When a bankruptcy is filed the debtor gets an automatic stay. The stay is a very important. It prevents your creditors from continuing any attempts to collect on the debts that are owed. While in place,  the creditors can’t:
Federal law limits wage garnishment to 25% of the weekly disposable earnings or to that amount that is over 30 times the Federal minimum hourly wage, whichever amount is less. The federal law is found at 15 USCS Section 1673. In short, as of August 3, 2009, the first $217.50 is exempt. This amount will [...]
Part 3 of my review examines Kevin Trudeau’s book, “Debt Cures “They” Don’t Want You to Know”, Chapter 5: Negotiate! The purpose of the review is to examine whether Trudeau, who has had extensive involvement with credit card fraud and the Federal Trade Commission for some of his previous books, makes any sense in this [...]
