Quick Answer: When facing a Capital One judgment for $7,071, the debtor can still negotiate a settlement, potentially set aside the judgment if proper notice wasn’t given, or may be “judgment proof” due to unemployment and lack of assets. Even post-judgment, creditors often accept reduced settlements rather than pursue lengthy collection efforts.“Dear Jeremy,I received a …
Quick Answer: When sued for sold credit card debt, the debtor must file a court response or settle before a default judgment occurs. The attorney recommends contacting legal aid immediately and getting any settlement terms in writing, including confirmation that no default judgment will be sought.“Dear Jeremy,I HAVE A $5,000.00 CREDIT CARD DEBT WITH WELLS …
Quick Answer: Two collection agencies can legally collect on the same debt if the creditor transfers the account, but the debtor should receive written notification within 5 days of initial contact. The person’s consistent payments to NCO for two years should have been properly credited, and United Recovery Services’ lawsuit threat may be improper without …
Quick Answer: A co-signer has rights under the Fair Credit Reporting Act when creditors repeatedly update old repossessions as current activity. The credit union violated FCRA by continuously refreshing a 2008 repossession, and the co-signer can dispute this inaccurate reporting through credit bureaus or file complaints with the CFPB.“Dear Jeremy,I am a single mom and …
Quick Answer: Waiting out the statute of limitations on debt is risky since creditors may sue before it expires, and Discover’s $7,500 settlement offer on $9,500 debt represents a reasonable 21% discount. Credit unions do negotiate credit card debt settlements, though they may be less flexible than traditional banks due to internal policies.“Dear Jeremy,Over the …
Quick Answer: SSDI benefits are generally protected from wage garnishment, but banks can still freeze accounts containing these funds until the debtor proves the money’s source. The attorney advises disclosing any potential wrongful garnishment claims to the bankruptcy attorney, who may be able to exempt such claims from the bankruptcy estate.“Dear Jeremy,Can Chase Bank legally …
Quick Answer: When enrolled in a debt settlement program, receiving a civil summons requires immediate consultation with an attorney to avoid a default judgment. The debtor should respond to the summons promptly to either negotiate a settlement or defend the case in court.“Dear Jeremy,I am in a debt settlement program. With my budget i am …
Quick Answer: Identity theft collection means debt collectors are pursuing fraudulent accounts opened by thieves, and victims should file police reports, dispute accounts with credit bureaus, and send written disputes to collectors with certified mail. Consumer protection laws like the FDCPA provide additional safeguards when collectors refuse to dismiss proven fraudulent debts.“Dear Jeremy,Indenity theft 10 …
Quick Answer: After Chapter 7 bankruptcy, debtors should not ignore adversary proceedings from creditors like American Express challenging debt dischargeability. The debtor should immediately contact their county bar association for Legal Aid referrals or seek pro bono bankruptcy attorney representation to properly respond to the $10,000 disputed debt claim.“Dear Jeremy,I am disabled with no job …
Quick Answer: The FDCPA protects people from debt collector harassment even when they don’t owe the debt, as demonstrated by a California attorney’s case where a client was wrongly pursued for Texas credit card charges. Debt collectors who persist after written disputes can face lawsuits for FDCPA violations.The following guest post was contributed by Jeremy …
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