If you are trying to settle a debt and the collector violates the FDCPA, you can use the violation as leverage to settle the debt. This tactic often works because collectors know that an FDCPA lawsuit can be costly to defend and may result in a judgment against them. ...
Debt collectors can pursue old debts with the threat of lawsuit until the statute of limitations expires. The statute of limitation varies by state and debt type. Once the statute of limitations expires, debt collectors can no longer threaten to sue you. However, they can still contact you to...
If a collector wins a lawsuit against you, they may obtain a court order to garnish your bank account, depending on state laws. What is a debt validation notice? A debt validation notice is a written statement from a debt collector detailing the amount of debt, the creditor’s name, and ...
Alternatively, you could hire a specialist bad debt lawsuit defense attorney to help you negotiate down the debt, such as reducing the fees the creditor is demanding. Working Out an Agreement If you decide to settle the debt, you’ll need to negotiate an amount. Remember to get the ...
If you don't properly protect your assets, they can potentially be lost in a lawsuit,bankruptcy, or to other creditor actions. It's important to understand the laws that can provide asset protection and to know what measures you can take to protect your savings. ...
Once the statute of limitations on a debt has expired, it is consideredtime-barredand the creditor or debt collector cannot take legal action, such as filing a lawsuit, to collect it. In most states, the creditor or debt collector can still make other efforts to collect, such as through ...
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Although a debt collector can’t take you to court over an expired debt, they can still try to collect on it. They can continue to call you or send letters to get what they’re owed. They can’t use legal means, such as a lawsuit orwage garnishment. ...
Falling behind on your loan or credit card payments is never a pleasant situation to be in. You're probably wondering how this may affect your tax refund. Watch this video to find out more about how judgments can affect your tax refund.
Co-signing a student loan may enable your child or grandchild to pursue their educational dreams. But before you put your credit on the line, it's important to consider how this may impact your long-term finances. Some90% of private student loansare co-signed. Yet, it seems that anequal...