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.

See Full Answer
Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • How long does bankruptcy stay on my credit report?

    Q: How long does bankruptcy stay on my credit report?

    A: A bankruptcy may take up to 10 years to fall off of a consumer credit report, according to FICO. During this time period, anyone who performs a credit check can see the consumer's bankruptcy information.
    See Full Answer
    Filed Under:
  • Q: How do you write a hardship letter to stop foreclosure on your property?

    A: Write a hardship letter to defend against foreclosure by presenting a clear picture of the current situation, and explain the circumstances beyond control that have led to the inability to make mortgage payments, advises AllLaw. Examples of hardship include illness, job loss, military service, medical bills and natural disasters.
    See Full Answer
    Filed Under:
  • Q: How do you file a lien in Florida?

    A: To file a lien in Florida, there first must be a judgment passed. The judgement must grant a settlement in favor of the creditor. The creditor must then show proof of judgement granted to the county recorder in the county where the debtor owns property, according to Nolo.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • Q: How did bankruptcy law change in 2005?

    A: The 2005 bankruptcy law change included stricter eligibility requirements, according to FindLaw. The law, called The Bankruptcy Abuse Prevention and Consumer Protection Act of 2005, was a major reform of the bankruptcy system. A new means test went into place for filing Chapter 7 bankruptcy, and filers are mandated to show proof of income when filing for Chapter 7 or Chapter 13.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • Q: What are some ways to get federal debt forgiven?

    A: Federal debt can be forgiven in certain circumstances under different categories of forgiveness, discharge and cancellation that include permanent disability (TPD) discharge, death discharge, discharge in bankruptcy, false certification of student eligibility or unauthorized payment discharge, unpaid refund discharge, teacher loan forgiveness, public service loan forgiveness and Perkins loan cancellation and discharge, according to Federal Student Aid. Direct loans, federal family education loan (FFEL) program loans and Perkins loans are all the types of loans that may be dismissed under their appropriate forgiveness categories. Borrowers must contact their loan servicers, or have attended schools for Perkins loans recipients, to see if they qualify.
    See Full Answer
    Filed Under:
  • Q: What is Chapter 9 bankruptcy?

    A: Chapter 9 bankruptcy is a form of debt reorganization reserved for municipal governments and other local authorities that are unable to meet their obligations and require relief from debts. According to David Haynes for About.com, only subdivisions of a state government are permitted to file for a Chapter 9 reorganization, which prevents its use by individuals, corporations or other entities but permits filing by municipal utilities and other municipal entities.
    See Full Answer
    Filed Under:
  • Q: How do I find out what debts I owe?

    A: The best way to determine one's debt, how much is owed and to whom these debts are owed would be to request a current credit report and credit score, according to CNN Money. Free copies are available of one's credit report from all the major credit bureaus.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • Q: How do you remove credit inquiries?

    A: Fraudulent credit inquiries are the only inquiry types that credit-reporting companies remove, Experian says. Inquires have a small effect on a credit report and are not generally the reason an institution denies credit.
    See Full Answer
    Filed Under:
  • Q: What are the repossession laws in Pennsylvania?

    A: Pennsylvania law allows lenders to repossess property in which they have a security interest if the debtor falls behind in payments, according to the Pennsylvania Legal Aid Network. For lenders to take this action, there must be a written security agreement and it must be possible to peacefully repossess the property.
    See Full Answer
    Filed Under:
  • Q: What are some ways to collect a court-ordered judgment?

    A: Creditors can collect on a court-ordered judgment by garnishing a percentage of the debtor's wages and his bank account, notes FindLaw. Performing a post-judgment discovery, which includes interrogatories and requests for reproduction of financial documents, is allowed by most states so that creditors can begin the collection process. This information allows the creditor to determine the location of the debtor's assets and the source of his income.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under:
  • 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.
    See Full Answer
    Filed Under: