Debt Law

A:

A debt collector can call a person at work unless they have been told verbally or in writing that the debtor cannot take calls at work. However, the Federal Trade Commission protects consumers against bullying or calling at inappropriate times by bill collectors.

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  • What Happens During Bankruptcy?

    Q: What Happens During Bankruptcy?

    A: Although an individual can file for a Chapter 7 bankruptcy or a Chapter 13 bankruptcy, both types involve the same four steps, according to Money Crashers. These steps include providing a financial inventory, receiving credit counseling, attending a creditors' meeting and completing post-bankruptcy credit counseling. Most bankruptcy cases are handled through paperwork rather than court attendance.
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  • What Happens to Debt When a Person Moves Out of the Country?

    Q: What Happens to Debt When a Person Moves Out of the Country?

    A: The results of moving out of the United States and leaving debt behind vary from lawsuits filed on behalf of the debt holder to poor credit for the debtor. Depending on the length of time out of the country, there may be no result.
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  • What Is Life Like After Bankruptcy?

    Q: What Is Life Like After Bankruptcy?

    A: Life after bankruptcy includes a new financial beginning and some challenges. Bankruptcy stays on a credit report for 10 years, which limits credit options, according to Bankrate. Lenders sometimes view individuals who filed bankruptcy as too risky because some past debts were written off. As a result, individuals who filed bankruptcy may not be issued a credit card for some time.
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  • What Is a Good Bankruptcy Score?

    Q: What Is a Good Bankruptcy Score?

    A: The lower a bankruptcy risk score, the better. According to Bankrate, bankruptcy risk scores range from negative numbers to 2,000. While these scores are hidden from consumers, businesses use them to decide whether to extend credit to a customer.
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  • Q: How Often Can You File Chapter 7?

    A: People may file for Chapter 7 bankruptcy eight years after filing a prior Chapter 7 case or six years after filing a prior Chapter 12 or 13 case, according to Lawyers.com. Chapter 7 bankruptcy is generally used by low-income debtors who have little or no assets.
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  • Q: How Do You Use a Debt Pay Down Calculator?

    A: A debt pay down calculator is used by entering the amount owed, interest rate and monthly payment, notes CNN Money. The monthly interest is added to the total amount owed for the last month. The monthly payment is subtracted for the new owed amount and length of the payoff period.
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  • Q: How Do You Declare Yourself Bankrupt?

    A: A person, business or creditor files a petition with a federal court to declare bankruptcy, according to the Administrative Office of the U.S. Courts. Most individual filings occur through federal Chapters 7 or 13, while most businesses file under Chapters 7 or 11.
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  • Q: What Is a Conditional Waiver of Lien?

    A: There are two types of conditional lien waivers: a conditional waiver and release upon progress payment and a conditional waiver and release upon final payment, explains Investopedia. The former prevents action on a mechanic's lien provided payments are kept current; the latter prevents action after final payment with certain provisions.
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  • Q: What Is a Georgia Electronic Data Interchange Payment?

    A: A Georgia electronic data interchange payment is a payment the state or its agent sends or receives electronically using a computer software system, states Blue Cross and Blue Shield of Georgia. The Georgia Department of Revenue has mandated use of the EDI system, notes its website.
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  • Q: What Happens When You Have a Judgement Against You?

    A: What happens after the court has issued a judgement against an individual depends on whether the individual pays it or not. If he pays the amount in full, the case is settled, and no further action can be taken against him.
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  • Q: How Do You Remove a Tax Lien?

    A: To remove a tax lien, first pay the outstanding lien, and then ask the credit bureaus to expunge the lien from the public records, advises Chron. However, the credit bureaus have the discretion to remove or not to remove the lien from the public records.
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  • Q: What Are Some Famous Court Cases That Involve Black Farmers Who Were Denied Loans?

    A: In 1997, a group of black farmers filed a successful class action lawsuit against the U.S. Department of Agriculture, alleging that it had practiced racial discrimination in denying them loans, according to Grist.com. The court decision in the case of Pigford vs. Glickman is available at FindLaw.com.
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  • Q: How Can I Get My Money Back?

    A: A consumer who feels that they have been cheated can report the offense to several government agencies, reports NOLO.com. If the reporting doesn't result in a refund, a consumer can send a demand letter for the money and then file a lawsuit.
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  • Q: Is There a Way to Stop Debt Settlement Legal Letters From Being Sent to Employer?

    A: To stop debt-settlement legal letters from being sent to an employer, the person must make that request in writing to the collection agency sending the letters, notes Credit.com. By law, once the request is made to stop settlement and collection letters from being sent, the collector must abide by that request. The debtor can also advise the debt collector by phone that he wishes communication with the employer to cease.
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  • Q: Is Debt Consolidation a Good Way to Save Money?

    A: Debt consolidation is a process that allows individuals to combine all their outstanding debts into a single loan, and it is not a good way to save money. By choosing debt consolidation, individuals actually have to pay back a larger amount of money than they initially borrowed.
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  • Q: How Do You File a Complaint Against Portfolio Recovery Associates?

    A: Consumers can file a complaint against Portfolio Recovery Associates, or any other collection agency, by contacting the Consumer Financial Protection Bureau through its official website. The Attorney General's office for each state can also help consumers whose rights are violated, states the FTC.
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  • Q: How Do You Respond to a Lawsuit for Debt Collection in Texas?

    A: Defendants served with a debt collection lawsuit should respond by obtaining a consumer lawyer if the debt specified in the case is significant, according to the Law Offices of Robert J. Nahoum. The individual being sued should also compile a short statement addressing each allegation in the complaint.
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  • Q: How Can You Get Debt Relief Through CareOne?

    A: CareOne offers debt relief by developing debt management plans and settlement agreements between debtors and creditors designed to restructure or resolve unsecured debt, notes CareOne Credit Counseling. Credit counselors are instrumental in negotiating with creditors depending on a debtor’s specific financial circumstances.
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  • Q: What Is Waiving Homestead Rights?

    A: Waiving of homestead rights is an agreement between a borrower and lender to waive the homeowner's statutory homestead rights under state law, according to US Legal. Homestead rights protect a homeowner's equity from creditors in cases of default. Typically, homestead waivers apply to residential mortgages and homeowners association contracts.
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  • Q: What's a Good Way to Respond to a Debt Collection Summons?

    A: When served with a debt collection letter, individuals can respond in a few different ways, depending on their particular situation, advises the Consumer Financial Protection Bureau. The response letter should address each claim alleged in the collection letter, and the writer should respond within 30 days of receiving it.
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  • Q: What Do Participants Learn in Debtor Education Courses?

    A: Participants who take debtor education courses learn how to create financial goals, find ways to save and learn to monitor and control debt. Anyone filing for bankruptcy is required by law to participate in a two-hour educational course before the bankruptcy is discharged, states Iowa State University.
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