Legal Articles, Collection
The Creditor is Suing Me & I Have Nothing to Give
In the event that you are sued by a creditor but don't have anything for them to take, what should your course of action be? Depending on your circumstances, you may not have to bother even responding to the lawsuit.
Default Judgment Looming: Should I Close My Bank Accounts?
Personal upheaval usually affects our finances, and that can be long-lasting. It’s likely that the longer you try to go it alone, the worse your situation will get.
Student Loans Make Up 42 Percent of Consumer Debt
Student loan debt in the US, now over $1.5 trillion, only continues to grow. With the well-publicized crisis worsening, there seems to be little anyone can do to prevent the issue from escalating.
Court Judgments Granted: The Clock is Ticking!
A late response to a collections lawsuit may be accepted if you have a valid excuse, but in general, you should plan to answer as soon as possible. Failure to do so can result in negative repercussions, as a default judgment will most likely be granted.
Is the Great Recession the Reason for Today’s Student Loan Crisis?
Delinquencies and defaults on student loans are not only damaging to credit; they can lead to collections lawsuits, interception of tax refunds, wage garnishments, and more.
Consumer Debt Topics: When the Collections Lawsuit Escalates
Medical bills are the number one reason for consumers in the US landing in hot water over money matters. If you've used credit cards to pay for co-pays, prescriptions, doctor’s visits, and procedures, you probably maxed out your limit shockingly fast.
Credit Card Debt This Year: Consumers Paid $104 Billion in Interest and Fees
Taking on a credit card may seem like a good idea at first, but in many cases, credit cards are a slippery slope offering the temptation to spend more than you can afford.
Many Borrowers Working Just to Pay Student Loan Debt
If you are a student loan borrower worried about strained finances, remember that it is important to take every step possible to avoid defaulting. While you may hear of some borrowers letting their loans ‘go,’ be aware that there are many serious repercussions.
Student Loan Refinancing? Don’t Be Led Astray
As student loans burden over 44 million borrowers today and affect the economy of the nation overall, both graduates and non-graduates alike are struggling to the point of national concern.
What If I’m Not Home to Receive Collections Lawsuit Service?
While you may suspect a lawsuit is in the works, the arrival of the process server will certainly confirm your fears. In many cases though, defendants are not home; what is your responsibility in this scenario?
