Debt Law

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 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 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 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 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 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 the Statute of Limitations in Florida on Collecting Past Due Accounts?

    A: The statute of limitations for collecting debt in Florida is four years for oral contracts or open-ended accounts. For written contracts or promissory notes, the statute of limitations is five years.
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  • Has My Bankruptcy Been Discharged?

    Q: Has My Bankruptcy Been Discharged?

    A: The debtor in a bankruptcy case receives a notice of a discharge by mail once the discharge is completed, according to the United States Courts. The timing of the discharge depends on the type of bankruptcy case. Individual chapter 7 bankruptcies are usually discharged four months after the petition is filed with the clerk. Individual chapter 11, 12 and 13 bankruptcy cases are usually discharged after debtor payments are completed.
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  • Q: What Is a Motion for Default Judgement?

    A: A motion for default judgment is a request that the court provide a default judgement when the defendant fails to respond to the complaint within the time allotted by the court. A default judgement is an award ordered in favor of the party who filed the complaint.
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  • What Are Some Tips for Filling Out a Bankruptcy Application?

    Q: What Are Some Tips for Filling Out a Bankruptcy Application?

    A: Tips for filling out a bankruptcy application include providing extensive proof of income, accurately listing all monthly expenses, and remembering to include expenses the applicant may only pay once or twice a year, according to Nolo. Applicants need to list every asset they own on a bankruptcy application.
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  • Q: Where Can You Find Wage Garnishment Rules for Different States?

    A: Wage garnishment rules vary by state and are located at Fair-Debt-Collection.com. All states allow wage garnishment for child support, alimony, taxes and federal student loans, according to Fair-Debt-Collection.com. Links for all 50 states are listed alphabetically and provide quick access to information on individual states.
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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: Where Are Repossessed Autos Taken?

    A: After a car is repossessed, the repossession company takes it to its lot, reports CNN. After that, the fate of the car varies with state law. Some states require the lender to tell the owner of the car the fate of the car, notes the Federal Trade Commission.
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  • Q: What Is the Fair Debt Collection Act?

    A: The Fair Debt Collection Act is a federal law that prohibits debt collectors from using deceptive and unfair practices to collect a debt, explains the Federal Trade Commission. A debt collector is someone who regularly collects debts that are owed by individuals and businesses.
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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: Where Can You Find Examples of Debt Settlement Letters?

    A: Several websites, including those for LeaveDebtBehind, CuraDebt and SJ Packman & Associates, offer sample debt settlement letters for customers. All these sites protect the identity of the debtor for privacy reasons.
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  • Q: How Much Does a Chapter 7 Bankruptcy Cost?

    A: As of 2015, the total cost for a Chapter 7 bankruptcy is $335, which include a $245 case filing fee, a $75 administrative fee and a $15 trustee surcharge, according to United States Courts. Comprehensive information about the costs and procedure for Chapter 7 bankruptcy is available on the website of the U.S. Bankruptcy Court.
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  • Q: What Is a Deferred Judgment?

    A: Deferred judgment refers to a sentencing option in a court case in which the defendant pleads no contest or guilty to criminal charges and the civil penalty is deferred in exchange for a plea deal, according to the Iowa State Code. The defendant completes the specified terms of a deferred judgment.
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  • Q: What Is a Summary of the Debt Protection Act?

    A: The Fair Debt Collection Practices Act outlines the means creditors can use to collect debts, ethical guidelines for collecting outstanding amounts, and the means a debtor can use to challenge payoff demands, according to the Legal Information Institute. The act prohibits creditors from harassing or threatening debtors and requires them to notify debtors of their rights in relation to the debt.
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  • Q: Where Can You Find Chapter 7 Bankruptcy Forms to Print?

    A: Chapter 7 bankruptcy forms are available to print at the United States Courts website. Users have the option of either printing out blank forms to be completed by hand or completing the forms online to print out and file with the court. The forms required to file for Chapter 7 bankruptcy are often collectively referred to as a bankruptcy petition, according to the NOLO website.
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  • Q: What Are the Laws Governing Debt Collection Rights for Customers?

    A: Laws governing debt collection rights include a debt collector having to validate any debt the collector is attempting to collect, the Federal Trade Commission says. The law also mandates that a debt collector cannot contact a debtor before 8 a.m. or after 9 p.m., and a debt collector cannot contact a debtor at her place of employment if the debtor asks the collector to cease reaching out to her at work.
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  • Can Bill Collectors Call You at Work?

    Q: Can Bill Collectors Call You at Work?

    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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