This week Damon and I talk about debt buyers, companies that purchased charged off debt and attempt to collect them, the problem with the proof that debt buyers have to collect the debt, and the wave of lawsuits and judgments from debts buyers.
We talk about what happens when you are sued by a creditor for a debt, what happens in court and what to do if you are sued.
The article that we are discussing during the show is Most Debt Buyer Lawsuits Foiled By Inability To Prove Debt Owed.
Then we launch into a discussion of debt relief scams and schemes that people fall for when they are in the middle of money problems. The discussion covers the typical scams of debt assignment, novation, vapor money theory, and other scams people fall for. We also provide some really good advice like don’t look for debt help on Craigslist.org.
You can listen to the show below.
Caller Question
Listen to the Answer
my mom called me that a sheriff came to her door looking for me that i was been sued by bank of america when i went to her house to get the papers it said since i reside in Webb country i was been sued i went to court and i told the attorney that i no longer live in that area that i live in nuevo laredo mexico he said that i still have to pay it i was wondering what else i can do right know i cant afford to pay anything being a single father and since i won the custody of my son i could barley afford paying anything what can i do