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 [...]
judgment
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, [...]
Turning in a car to get out from under high car payments may backfire. Many people think that a “voluntary” repossession won’t come back to haunt them, but any surrender or repossession of a car that does not pay off the loan in full can lead to big debt problems for the borrower. When you [...]
This week I have talked to several people who have said that when they were sued they “called the creditor and worked it out so they didn’t have to attend the hearing” but it turned out that a judgment was entered against them anyway. If you are sued by a creditor, you must understand that [...]
Well, yes and no. Yes, a creditor can garnish, but no, they can’t just start garnishing without going through a series of steps first. The first thing that has to happen is the creditor has to file a lawsuit. (There are two exceptions to this first step–the IRS and Student Loan Creditors). You have to [...]
