How to choose between Debt Consolidation or Bankruptcy

Unfortunately most people who have credit cards have so many that they spend almost everything they make in a month on paying those cards ... of trouble. The credit card company won’t come after you right away, first they add a late fee ... the companies are calling threatening you with lawsuit and wage garnishment. You now have two options [more...]

Date: 2008-12-16 05:11:37

Blog posts (48) | Videos (82)
 

the statue of limitations for a il resident

I am a resident in il, and received a call at work from a guy representing a company called rancho credit management in california ... . this sounded fishy and so i’m doing research. the credit card debt he refers to is indeed a debt i failed to pay which i don’t dispute and am fine with paying but he threatened wage garnishment etc [more...]

Date: 2008-12-11 15:49:05

Conducting a Financial Triage

Nearly every day, we are contacted by debtors desperately seeking help and answers: "Do I qualify for bankruptcy?" "Will I lose my house? ... and lots of credit card debt might be better off in a Chapter 7 bankruptcy. In order to assess a debtor's ... , a wage garnishment or an eviction. Careful analysis of the matter is still required [more...]

Date: 2008-09-24 05:00:09

Can A Credit Card Company Garnish My Wages?

Some debt collectors, and even credit card companies, will threaten you with a wage garnishment action for non payment. [more...]

Date: 2009-01-14 01:50:34

Can a credit card company take my home or wages?

I have received a number of calls from people who are concerned about just how far a collector can go to get money from them ... : 1. place a lien on property you own 2. seek a wage garnishment 3. levy accounts 4. appoint a receiver ... .  Often people are scared because the debt collector is making a number of threats or implications [more...]

Date: 2008-11-17 23:40:32

is it true if you use debt consolidation svc, they want your power of attorney to act on your behalf?

I've delayed getting help for credit-card debt because I was told by one company they want my power of attorney which needs to be notarized before I can do business with them. I think that's scary! Yes….this is true. Most want a limited power of attorney… Stay away from any "debt consolidation" company that promises to cut your debt in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. [more...]

Date: 2009-06-18 06:21:17

Insider Tips About The Chapter 13 Bankruptcy Forms

consumer law Chapter 13 bankruptcy forms are available to Americans in need to offer a second chance. You may berate yourself and wonder how you got into such a predicament, but the truth is that over one million people ended up filing bankruptcy forms in 2008 and the numbers are climbing in 2009. No matter what your case may be, you don’t have to suffer wage garnishment, foreclosure, repossession, insurmountable debts or harassing creditors and collection callers. [more...]

Date: 2009-09-08 17:54:32

How trust worthy is American Debt Settlement Group?

I talked to someone from that group with the address 7590 E Gray Road Scottsdale, AZ 85260 I want to know can I trust these people do help settle my credit card debt? How do I know it's not a scam? Stay away from any "debt consolidation" company that promises to cut your debt in half through debt settlement….This is a risky tactic of deliberately ceasing all payments to creditors and forcing your accounts into default to attempt settlements. [more...]

Date: 2009-05-21 23:36:18

How To Avoid Debt Collection Agencies and Being Sued For Debt

by Nadine Simmons The following paragraphs summarize the work of debt consolidation experts who are completely familiar with all the aspects of debt collection agencies. Heed their advice to avoid any debt consolidation surprises. Debt collection companies are not allowed to contact debtors after 9 o’clock at night or before 8 o’clock in the morning. Debt collection companies must adhere to these time constraints unless they receive permission from the debtor to contact them outside of these times. [more...]

Date: 2009-06-08 10:28:17

Don't feel like paying off your credit-card debt? How about half?

Filed under: Banks , Bargains , Credit , Debt , Shopping , Recession Even if your credit card company refused to cut you a deal on your credit card balances just a few months ago, you might want to try again. The New York Times reported today that some credit card companies have changed the rules and are giving front-line customer service reps the right to cut your principal balance, as well as interest and penalties, if your balance is past due. [more...]

Date: 2009-06-16 23:00:45

How To Avoid Debt Collection Agencies and Being Sued For Debt

by Nadine Simmons The only way to keep up with the latest about debt consolidation is to constantly stay on the lookout for new information. If you read everything you find about debt consolidation, it won’t take long for you to become an influential authority. Debt collection agencies are an excellent way of collecting bad debt. Many debt collectors are professional in the way they request payment from your customers and will help collect your accounts quickly. [more...]

Date: 2009-06-02 09:59:44

Glossary For Debt Settlement,Debt Consolidation,Bankruptcy

Glossary For Debt Settlement,Debt Consolidation,Bankruptcy As with most consumers, you may find yourself reaching out for financial assistance through one of many options to find stability. While searching for the right option, make sure and understand that your goal must be to learn all your rights and options. Keeping in mind there are end results to each of them. Let’s look at these options in detail along with the end results of each. [more...]

Date: 2009-08-11 11:09:24

Credit Card Debt Law

It seems like a lot of people are questioning credit card debt law . The government is actually getting involved just to keep the laws from being so one sided. I have worked in the credit card industry and the collections industry and I found there are a lot of laws when it comes to credit cards. The sad part is most of them seem to be in favor of the lenders. Most of the questions being asked right now are about what happens when you can’t pay your credit card bills. [more...]

Date: 2009-08-13 23:36:22

Lead In Being Tax Debt-Free

Are you in deep tax debt situation and cant wait to get out of it? Or are you the person who can help these people get out of this predicament? Either way, we got you covered. We at LeadZumba.com have to those individuals owing more to the IRS than they can afford to pay on our Tax Debt Leads. These Tax Debt Leads consist of individuals with $10,000 or more in tax debt and have issues such as wage garnishment, unfiled returns, bank levies or other tax issues. [more...]

Date: 2009-09-14 18:05:20

Bad Credit Debt Consolidation Loans-Are They For You

Debt is something that tends to creep up on you and some people seek bad credit debt consolidation loans to resolve that debt. Is more debt the answer to getting out of debt? Are debt consolidation loans the way to go when it comes to trying to get out of debt? If you talk to true financial experts, they will all tell you that taking out a loan to pay off your debt is one of the worst decisions you can make. And bad credit loans are even worse. There are consequences for having bad credit. [more...]

Date: 2009-07-13 02:57:16

The Poverty Business

Sorry if this appears to be an older article, and not latest headlines, just thought it was interesting - loki The Poverty Business Inside U.S ... into Byrider, Tsosie drove off, jubilant, in a 1999 Saturn subcompact she bought entirely on credit ... access to credit has put cars, computers, credit cards, and even homes within reach for many [more...]

Date: 2009-01-15 00:45:24

Options if you can’t afford your lease

Dear Liz: I find myself in a significant quandary. Three years ago I went through a divorce and shortly afterward lost my job ... my credit card debt. Unfortunately, my situation has continued to deteriorate, and I’ ... credit card debts is almost always a bad move. You incurred unnecessary taxes and penalties, plus [more...]

Date: 2008-11-03 19:13:45

How to Avoid a Lawsuit From a Collection Agency

The first thing you need to understand is that most large collection companies have a lawyer at their disposal who writes letters on their behalf ... to respond… they’ll sell the debt to another collection agency for pennies on the dollar. In order for them ... that they cannot legally be collected on. So even with a judgment to repay the debt… the collec [more...]

Date: 2009-01-14 19:53:56

Student Loan Default: How to Deal with It

by William Blake The Department of Education has many different avenues with which it works hard to get money back from individuals whose student ... t come from legal proceedings, wage garnishment ... the right course you can even regain your eligibility for financial aid, improve your credit rating and even [more...]

Date: 2008-12-26 10:06:43

God, I Love Texas

Before you think I'm drunk, or that I've flipped out and joined the Republican Party, let me assure you neither scenario is true ... at an advertising agency, I was probably swimming in $30,000 credit card debt. I wasn't behind ... paid off that credit card debt. For the sake of brevity, I'm leaving out a few details [more...]

Date: 2008-07-26 23:02:06

Should Granny pay the Collection Agency?

A reader at How to Deal with Collection Agencies asks if her grandmother should continue trying to make payments on a debt sold to a collection ... on the debt, but they continue to charge interest on the account and they tell her they cannot send ... when she was sick with her heart? Is this right, and what can we do if anything….. Julie Debt Prison [more...]

Date: 2008-11-18 02:50:04

Can Your Creditors Still Sue You After Bankruptcy?

I think my biggest fear after bankruptcy was that my creditors would still be able to collect money from me, or to sue me/ garnish my wages somehow ... , one mine, one my husbands. The final straw that tipped the scales was a wage garnishment ... overdue. The month he learned of the garnishment (which went through his work, so all the HR people [more...]

Date: 2008-10-15 20:00:57

Can Your Creditors Still Sue You After Bankruptcy?

I think my biggest fear after bankruptcy was that my creditors would still be able to collect money from me, or to sue me/ garnish my wages somehow ... , one mine, one my husbands. The final straw that tipped the scales was a wage garnishment ... overdue. The month he learned of the garnishment (which went through his work, so all the HR people [more...]

Date: 2008-10-15 09:45:15

Problems with creditors and debt collectors

What happens if I don’t pay my bills? Although everyone wants to pay his or her debts, and wants to pay them on time, it is not always possible ... by your agreement with the creditor. For example, if your car note is $387 a month, or your credit card ... for my friend’s mis-use of my credit card? As far as the law is concerned, this matter is between [more...]

Date: 2008-06-19 13:47:02

What To Do When You Need A Home Improvement Loan But Have Bad Credit

You either bought a fixer-upper at a good price, in the hopes that you can refurbish it into the little gem that it used to be or you bought the ... them out to build their perfect abode. If you have “less-than-perfect-credit”, securing any type of loan can be challenge but it shouldn’t be. About 10 years ago, finding a loan when your credit score [more...]

Date: 2009-01-08 02:27:41

Should you respond to a collection letter?

Recently a family member sought my advice on a collection letter he had received ... balance), he was still left with several thousand dollars of debt on the credit card. Since he went back ... short list of when a debtor might want to apply a debt validation letter: You need a clean credit [more...]

Date: 2008-12-29 19:42:57

Debt Collectors Harrassment

Debt Collectors Harrassment January 11, 2009 at 9:21 pm · Filed under Personal I should preface this entry: I probably owe someone a favor, ... the law. The following defines Abusive Debt Collectors Calls after 9:00 p.m. or before 8:00 ... I might even owe a few a debt of gratitude, but I DO NOT, nor have I ever owed someone MONEY [more...]

Date: 2009-01-12 02:21:54

Bank of America Refuses a Hardship Application

I was recently contacted by a full time college student with five credit card accounts ... his credit as much as possible. All of the credit card companies, with the exception of Bank of America ... , I have scoured the net for info regarding my debt, and yours is definitely one of (if not the most [more...]

Date: 2009-01-04 01:28:29

Does Debt Validation Actually Work?

A recent reader at Sample Debt Validation Letter questioned as to whether or not requesting debt validation would prevent a collection agency from ... to prevent payment and a possible appearance in civil court.  Debt validation often works on Junk Debt Buyers.  Junk Debt Buyers (Debt Acquisition) often buy packages of defaulted debt from an original [more...]

Date: 2008-12-26 04:58:06

How To Stop Bill Collectors From Harrassing You

A reader at Sample Debt Validation Letter asks how to get a collection agent to stop harassing her ... . Who can I report her to? And how do I get her to quit harassing me? The debt is an old credit card ... of all, once you enter the world of defaulted credit card debt - what good is it doing to talk to these people [more...]

Date: 2008-12-02 03:45:37

MOTION FOR RELIEF FROM JUDGMENT-- Denied!!

My "MOTION FOR RELIEF FROM JUDGMENT" is DENIED by the judge-- signed and wrongly dated for the previous year-- September of 2007!?! ... was entered against me for a credit card debt charged against my account by a cousin who incurred ... credit. I did not try to pay on this, because I did not make this debt. I could not get him pay [more...]

Date: 2008-10-15 22:13:25

Bankruptcy - What To Consider Before Filing

Bankruptcy - What To Consider Before Filing Posted By William Blake on @ 9: ... debt burden, and it’s sometimes the first method they reach for. Well, it may well relieve the burden ... , and these should be carefully considered. You will lose any credit cards that have outstanding [more...]

Date: 2008-09-17 14:25:20

Should I File for Bankruptcy? - Some Things to Consider

by William Blake Bankruptcy is a means to get out of debt. Some feel that it is a quick escape from mounding debt, and they make it their number one option ... taking such a drastic step. You will no longer be eligible for any decent credit. That means [more...]

Date: 2008-09-17 14:43:00

The Fair Debt Collection Practices Act

I decided to create this article to assist readers in understanding the Fair Debt Collection Practices Act by highlighting the most relevant ... version of the FDCPA. To read the Fair Debt Collection Practices act in its Congressional format click ... .  Section 813 begins by stating “Except as otherwise provided by this section, any debt collector [more...]

Date: 2008-06-21 03:02:36

Math Assignment

Unit 1 Assignment Individual Project You would like to take a cruise in six years. The cruise currently costs $4,250. You expect the price to increase by 4% annually. You can earn 5% on your savings. How much do you need to save at the end of each month so you will be able to afford your cruise in six years? [more...]

Date: 2008-06-20 04:41:19

Debt Collection M&A Is Booming As Collections Collapse

Business Week reports that amid a general collapse in the mergers and acquisitions (M&A) ... credit card debt.  The repudiation of debts is being encouraged by the very actions ... on defaulted consumer debt.  Acquisitions of $1.8 billion this year already exceed last years total [more...]

Date: 2008-11-24 08:04:00

What Happens if I Can’t Pay My Credit Cards?

What Happens if I Can’t Pay My Credit Cards? Filed under: Banking What does happen if I can’t pay my credit cards? ... for two years or so, and you may find yourself in court, facing wage garnishment and liens on your property. For more Credit card tips, and ways to get out from under a crushing debt, visit: http [more...]

Date: 2008-11-08 05:04:00

What is a Junk Debt Buyer?

Junk Debt Buyers, also known as Debt Acquisition companies, buy debt by the bulk in large portfolios.  Often, original creditors are selling debts that were absolved due to bankruptcy or debt settlement.  And collection agencies also sell debts in bulk to other collecting companies.  Why would [more...]

Date: 2008-12-26 18:00:07

Learn Why The “lone Star State Texas” Has The Most Protective Laws In Place For Debtors Entering Debt Negotiation

Learn Why The “lone Star State Texas” Has The Most Protective Laws In Place For Debtors Entering Debt Negotiation Texas is by far the best state ... in a number of ways. So for consumers who are contemplating credit card debt settlement than Texas ... from calling. Texas also has a no wage garnishment law, and the ability to homestead a house [more...]

Date: 2008-06-19 13:33:46

When Can I Start Settling My Debts?

A reader at How to settle your debts on your own wants to know when he should start trying to settle his unsecured debt ... the minimum payments. My wife and I owe more or less $40,000 on our credit card debt and an unsecured loan. We plan to settle our debt on our own. We stopped paying our credit card bills two months ago [more...]

Date: 2008-12-02 01:18:43

Will Bankruptcy Completely Kill Your Chances Of Getting A Loan?

by William Blake Filing bankruptcy does not end the possibility of obtaining a personal loan ... being is that the recourse available if the loan is defaulted upon is wage garnishment of the person ... . In fact, a person who files bankruptcy can obtain a bad credit personal loan in as little as 30 [more...]

Date: 2008-06-07 03:45:02

Will debt follow you abroad?

Can you avoid paying your debts by leaving the United States and will your debt or credit report follow you to another country? ... in the country you’re moving to for the debt you leave behind in the U.S.? Can you be deported back to the U.S. for debt? Are there secrets for making a clean getaway? Apparently these are complex [more...]

Date: 2008-12-04 04:17:12

Countys See More Abuse From Bill Collectors As Credit Crunch Gets Worse, Protect Yourself, Here’s how

Countys See More Abuse From Bill Collectors As Credit Crunch Gets Worse, Protect Yourself, Here’s how By newsroom | - 1: ... , US News Now Americans are defaulting on billions of dollars in credit card debt and that means ... more and more credit card companies going after people who haven’t paid their bills and he says more companies [more...]

Date: 2008-11-06 18:35:04

Should I pay the collection agency or the original creditor?

When possible pay the original creditor and bypass the collection agency.  If your creditor has ‘assigned’ your defaulted debt over to a collection agency for collection… ... then pay them and eliminate the third party.  See also, How to deal with collection agencies. Dear Debt [more...]

Date: 2009-01-05 23:03:22

Ain’t It Funny How the Money Makes the Honey Taste Like Nothing? Financial Planning for Tough Times

Ain’t It Funny How the Money Makes the Honey Taste Like Nothing? ... by. That means that debt is potentially a much bigger deal than it is in a period where credit is easy ... rapidly, as is the availability of credit both at the personal level and at the corporate [more...]

Date: 2008-08-28 16:46:02

Bad Credit Personal Loans After Bankruptcy Are Readily Available

by William Blake Filing bankruptcy does not end the possibility of obtaining a personal loan ... is wage garnishment of the person who took ... . In fact, a person who files bankruptcy can obtain a bad credit personal loan in as little as 30 [more...]

Date: 2008-06-07 04:02:17

All cash

We loved this story about people going to an “all cash” lifestyle during the economic downturn:  Kate lost her home to foreclosure, has credit debt judgments against her and faces wage garnishment by credit card companies ... that will make it harder for credit card and other lenders to go after her assets. It’s ugly [more...]

Date: 2008-10-24 15:23:34

Restrictions on Wage Garnishment for Debt Collection

Many debtors that have defaulted on their credit card debt or other unsecured loans are concerned about their wages being garnished. Often collection agencies will threaten to turn your debt over to their ‘legal department’ ... for you… at no charge. The U.S. Department of Labor has developed The Federal Wage Garnishment Law [more...]

Date: 2008-11-30 16:13:23

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