If you are getting debt collection calls you are not alone. About one in seven people in Mississippi is being hounded by a debt collector. Buying debt and debt collection is a billion dollar business and becoming a larger, more complex industry. The original creditor sells their debt to…
First realize that you do not have to talk with the debt collectors when they call. They are not calling because they care about your situation or want to discuss your financial problems in order to help you find a solution. They want a payment, or a promise to…
If you get served with court papers, you are being sued by someone (person or business entity). For the sake of this discussion, let’s say you are being sued by a creditor over a debt you did not pay (or they say you did not pay). If you don’t show…
Yes, you can stop debt collectors from calling you. Federal law, the Fair Debt Collection Practices Act, (“FDCPA”) requires debt collectors to stop calling if you send them a written request. Once your written notice for telephone calls to stop has been received by a debt collector, financial penalties of…
The Fair Debt Collection Practices Act (FDCPA) prohibits abusive and deceptive collection tactics. This means that the debt collectors cannot insult you, threaten you, trick you, lie to you, or harass you with phone calls at all hours. This law applies only to third-party debt collectors and does not apply…
Can you pay your credit cards after filing bankruptcy? Of course. You can pay anyone you want to pay. But should you? Let’s explore whether first of all you can keep them, and second if you have anything to gain by paying debts that were wiped out by the bankruptcy…
NO!!! The lender cannot threaten or use criminal prosecution to collect. However, the lender may file an action against you in civil court. If you cannot repay the loan, you may request that the lender place you on a payment plan. However, the lender is not legally required to grant…
Most of my clients come to me after a garnishment has been sent to their job. A few come to see me as soon as they are served with the lawsuit. I wish they would come to see me on the day they get sued, but that is not always practical.…
I have been flooded with inquiries from people in the Jackson, Pearl, Brandon, and Madison cities of the metropolitan area who have been scared to death by collection agencies. The caller usually claims to be a detective or some sort of officer and states that they are on their way to your house to take you…