Debt Law

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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 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 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 is a default judgment collected in Texas?

    A: Collecting a default judgment in Texas is possible through a garnishment lawsuit, abstracts of judgment or through the debtor's simple payment, according to the Law Office of Tom M. Thomas II. A debtor with a default judgment in Texas can choose to pay the debt owed immediately to avoid facing other legal actions.
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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: 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 United Debt Services legitimate?

    A: United Debt Services is a registered debt management service provider, which the State of Texas licenses, according to the United Debt Services' website. The Better Business Bureau assigns it a rating of B- as of July 2105, according to the BBB website.
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  • Q: What is a debt snowball worksheet?

    A: A debt snowball worksheet is a worksheet to facilitate paying off debts in order from smallest to largest. This concept was created by Dave Ramsey, a popular financial writer and radio personality, according to his website. On the debt snowball worksheet, the payer lists debts from smallest dollar amount to largest. After the smallest debt is paid off, the payment for that debt is applied to the next smallest, until all debts are paid.
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  • Q: How do you file for bankruptcy online?

    A: Filing for bankruptcy online involves obtaining advice on the filing decision, gathering the necessary information needed for filing bankruptcy, opening an account with the Public Access to Courts Electronic Records system, accessing the account to complete bankruptcy filing forms and checking the account frequently for a court hearing date, according to M. Scilly for the Houston Chronicle. Although it is possible to complete the process yourself, hiring an attorney may help to prevent possible mistakes.
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  • Q: How do you put a lien on a debtor's property?

    A: Individuals can place a lien on debtor's property by filing a lawsuit in court to prove the money is owed to them, says the Houston Chronicle. From there, a judgment is awarded and filed accordingly. The judgment is notice that the debtor's property is subject to a lien.
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  • Q: What are the differences between Chapter 13 and Chapter 7 bankruptcy?

    A: Differences between Chapter 13 and Chapter 7 bankruptcy include the income level of people eligible for each type of bankruptcy and the amount of time it takes to file for each, according to FindLaw. Only people whose income does not exceed a certain level can file for Chapter 7 bankruptcy.
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  • Q: Is it possible to file for bankruptcy for free?

    A: Filers may be able to file for bankruptcy without any fees by either foregoing a lawyer or obtaining free legal help and by receiving a court waiver for the filing fees, according to the United States Courts website. Filers can view a full list of bankruptcy fees on the U.S. Courts Bankruptcy Court Fees webpage.
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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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  • Q: What are the repossession laws in Arkansas?

    A: In Arkansas, lenders are given certain rights to ensure they continue to receive payments. One major right lenders are granted is the ability to take back any goods that have a loan in default, according to Credit Info Center. A loan defaults if there is a failure to make payments as agreed upon.
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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: 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 can you make online court payments?

    A: Since each state's court system is different, the method of making online court payments varies by location, court and type of offense. If a state accepts online court payments, detailed information is available on that jurisdiction's website, as evidenced by the web portal for the Unified Judicial System of Pennsylvania.
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  • Q: How often can you file for bankruptcy?

    A: Bankruptcy law does not establish a minimum time frame before an individual can file for bankruptcy again, according to NOLO. However, filing too soon after a discharge was received means the individual cannot receive another discharge.
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  • Q: What can you do when you are sued by a collection agency?

    A: When facing a debt collection lawsuit, respond to the claim whether or not you intend to dispute it, the Consumer Financial Protection Bureau advises. Otherwise, the court may award a default judgement to the debt collector and hold you accountable for the other party's legal fees. Answering the lawsuit forces the debt collector to show evidence of your liability, while ignoring the lawsuit or refusing to accept correspondence doesn't delay the process.
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  • Q: How long does a lien last?

    A: Each state has its own laws governing how long a lien can last. The duration of the lien depends on the type of lien and the item in question. Lien court proceedings are often handled by bankruptcy and debt attorneys because the cases can be complex
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