I love gift cards! I can use them to get what I want. I can save them until I really need something. I can treat them like “mad money.” But, as a both a purchaser and a user, I also have to be careful with them. Here are twelve reasons why: 1. Make sure that […]
The Fair and Accurate Credit Transactions Act (FACT Act) of 2003 allows everyone to receive one free credit report from each of the three main credit-reporting agencies once a year. How to Get Your Report Equifax, Experian and TransUnion, the three main credit-reporting agencies, created a central source, AnnualCreditReport.com, where consumers can go to request […]
People are desperate to pay their bills. Every day we see people who have paid lots of money to debt settlement companies that promised to get their debt reduced, paid off at a lower interest rate, or settled for pennies on the dollar — and that money has been COMPLETELY WASTED. What is a Debt […]
Some creditors will do anything to collect money, including outright lie and engage in illegal tricks. These seven situations really happened to my clients. Don’t fall for them if they happen to you! A collector went to our client’s house at midnight, dressed as a policeman, showed a fake badge and tried to get money. A […]
How can my creditor collect from me? A creditor with a judgment can collect using any legal means, including: Liens: A judgment acts as a lien against your real estate, including any deed on which your name appears. Garnishments: Judgment creditors and seize 10%-25% of your wages.
I tried to settle with the creditor and they refused. Is that a defense? No. A creditor is not required to settle a debt, reduce interest, or write it off. I don’t recognize the name of the creditor suing me. Is that a defense? Possibly. You have the right to make the creditor prove that […]
They don’t go away on their own. What if I don’t go to court? If you receive a summons and don’t go to court, you will automatically lose! Your creditor will ask for a “default judgment” against you. Since you are not there to protest, the judge will probably grant your creditor’s request. GAME OVER!
You may think you need to keep a major credit card for emergencies, or you want to pay an unsecured debt because you feel an obligation to a “friendly” lender. The point of bankruptcy is to get you out of the debt and give you a fresh start, free of the credit trap. If you […]
This morning I took my car to the dealer for its routine 5000 mile maintenance (oil change, tire rotation, and “quality vehicle inspection”). I had just sat down when I saw the service rep came toward me, not with bad news about a major car problem, but to