Debt

Debt collectors are still entitled to ask you to repay your lawful debts, despite your FDCPA rights. There are a few things to keep in mind while you go through this procedure. Check your credit reports for collection accounts It’s critical to understand the age of any genuine bills you owe. This is because negative […]

A collection agency or debt collector can only withdraw money from your bank account if it obtains a judgment against you, according to federal law. According to Section 809 of the Fair Amount Collection Practices Act, the collection agency must give you 30 days to pay the debt via written notification. Following the 30-day period,

Assume you are a director of a struggling firm that owns and operates a small business that has suffered considerable losses over the last three years and is unable to pay its creditors. You and the other directors, as well as management, are considering applying for bankruptcy protection, but believe that if the firm can

You might be asking how to erase paid collections from a credit report if you don’t want to wait seven years for them to disappear from your credit record. When a debt is “sent to collection,” it means the lender has given up trying to collect the amount from you. Instead, they’ve enlisted the help

Unless you are a co-signor on the card or it is a joint account, you are normally not liable for your spouse’s credit card debt. State rules differ, and your duty for this debt may be affected by divorce or the death of your spouse. Does a wife have to pay for husbands debt? In

as a last-ditch attempt Because most debtors fail to appear in court and lose by default, these cases frequently result in wage garnishment, bank levies, or both. How likely is a debt collector to sue? According to a 2017 survey by the Consumer Financial Protection Bureau, roughly 15% of Americans who have been approached by

A statute of limitations is a legislation that specifies the time period during which a creditor or collector may sue debtors to collect debts in each jurisdiction. They usually endure between four and six years after the last payment on the obligation was made in most jurisdictions. This means that if you’ve made a payment

Assume you are a director of a struggling firm that owns and operates a small business that has suffered considerable losses over the last three years and is unable to pay its creditors. You and the other directors, as well as management, are considering applying for bankruptcy protection, but believe that if the firm can

Debt buyers are businesses that buy a significant number of debts from creditors for a fraction of their face value. The debt buyer buys the debts at a low price so that it can profit even if it only collects a tiny amount. When a debt buyer purchases your debt, the original creditor loses all

One of the most important characteristics of a corporation is the limited liability protection it provides. A corporation is a legal entity that exists independently of its stockholders and is founded under state law. Limited liability shields shareholders, directors, officers, and employees from personal liability for corporate debts and activities performed in the name of