Practical guidance on debt, bankruptcy, and the financial decisions that matter most. Written by OVLG attorneys.
Debt collectors have certain number of years (known as statute of limitations period) to sue you in order to collect on a debt. After that, your unpaid debts become ‘time-barred’ - means that a debt collector cannot sue you for the debt (though you still owe). Since the statute of limitations varies from state to state and under certain circumstances, the debt ...
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“Garnishment” is a legal remedy authorized by a court and can be considered as the last tool for collection. In most states, the garnishment process can only be initiated by a court order and only if a judgment has been entered by the legal and legislative director of state government affairs for The Association of Credit and Collection Professionals’ (ACA ...
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Consumers often end up paying debts, which they do not need to pay anymore. As per statute of limitations (SOL) on debt, creditors cannot collect debt from consumers after a certain period of time. SOL on a debt, if expired, can protect you when the creditor sues you for non-payment of debt. Credit reporting time limit and SOL Many people confuse between credit ...
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FTC facts on FDCPA English / Espanol.FTC facts on pre bankruptcy requirements English.Basics of bankruptcy English ...
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Can a collector make false or misleading statements while collecting debt? How to manage multiple collection accounts? How many types of debt collectors are there? How to deal with these 3 types of debt collectors? Can a debt collector garnish bank account or wages? Can a collector make false or misleading statements while collecting debt? Answer: Debt ...
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All of us know that a student debt crisis is brewing, but no sign of respite is there in the air. Few non-governmental groups have come up with viable ideas and the federal government is also trying to make some amendments in their policies in order make student loan debt a bit easier to bear. But those who are nearing to their Grad. day or trying to service their ...
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Holidays bring a smile on your face since this is the time to celebrate. With less than a few days to go, it's high time for Easter shopping. It is expected that people will spend almost $2.26 billion on Easter candy in 2014. Now, that's a lot of money and it's a pity to spend it on Easter, especially when credit card and student debts are rampant in the country. ...
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Credit score fluctuations are a normal phenomenon and there is nothing to worry about. Credit score can change from day to day and bureau to bureau. So, next time you see a change in your score, don't get flustered and start panicking.Credit score can go up and down for various reasons. Several factors affect your score. Once you know about these factors, you'll find ...
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