Legal Articles, Collection
Collections Lawsuits, Court Judgments and Debt Collectors: Is the Stress Making You Sick?
Studies have shown that stress over money can lead to serious problems with your health, including depression, anxiety, migraine headaches, and even heart attacks.
Should I Worry About My Valuables Being Taken if a Credit Card Company Sues Me?
If you are sued by a credit card company, you may only have 30 days or less to respond after being served. Working with an attorney in writing a response could be critical to your financial future!
Private Loans Contribute to About $150 Billion in Student Debt Crisis
Without as many choices for repayment to fall back on, such as deferment, forbearance, or income-based plans, private student loan borrowers may fall into delinquency or default simply because they are helpless to move forward.
Careless Creditor Paperwork May See Collections Lawsuits Overturned Quickly
While many credit card companies sell their delinquent accounts to debt collections agencies, not every company provides sufficient documentation to the buyer. Without the proper paperwork, a debt collections company usually doesn’t have a leg to stand on in court.
Court Judgments Give Creditors More Options
If a default judgment is granted against you because you did not respond or lost the case in court, your first question may be whether the plaintiff can garnish your wages. In most cases, the answer is yes.
Can I Discharge My Private Student Loans in Bankruptcy? Not Likely!
Student loans continue to push more and more consumers into bankruptcy, but student loans themselves cannot be discharged in most cases, whether privately funded or taken out through the federal government.
Collections Lawsuits: Stop Them Before They Happen
Collectors may be patient for a short time if you have been going through a rough spell after sickness or an accident, but eventually, they want to collect, even if it is much less than they were originally owed.
Student Loan Debt Ten Years Ago Was $600 Billion
If you are having issues paying your student loan debt, review every option available to you before going into default. The repercussions are long-term and can lead to wage garnishing, federal interception of tax refunds, and other major problems.
Default Judgments Can Make Finances Tight for Younger Debtors Especially
Dealing with bills is challenging to begin with, but you may be completely overwhelmed after being served with a lawsuit or finding that a default judgment has been granted against you if you failed to take proper action.
Student Loan Borrowing Shows No Signs of Decrease Despite Crisis
As student loan debt reaches $1.5 trillion, it is obvious that the financial implications are going to reach much further than the individual student.
