Many people who receive a notice of a pending lawsuit for defaulted credit card may have heard that the opposing party can’t win because they are “judgment proof”. This question comes up all of the time – “I’m being sued but I’m judgment proof – do I need to do anything?” The answer [...]
Entries Tagged as 'Junk Debt Buyers'
Being Sued but “Judgment Proof” – Do I Need to do Anything?
October 12th, 2009 · 1 Comment · I'm being sued!
Tags: assets·collection agencies·consumer·garnishment·judgment·judgment proof·Junk Debt Buyers·lawsuit·summons·Unrealistic Expectations·writ of garnishment
Shopping for a Consumer Attorney if You Are Sued by a Creditor
June 23rd, 2009 · 5 Comments · I'm being sued!, Legal Stuff
Credit card companies and junk debt buyers have turned to the courts with a vengeance as a method of collecting past due debts. I always recommend that people hire a lawyer when facing legal issues, if at all possible. Unfortunately, in the area of consumer law, there are very few attorneys who know [...]
Tags: civil cases·consumer attorney·Credit card·Fair Credit Reporting Act·Fair Debt Collection Practices Act·Junk Debt Buyers·jury trial·lawsuit·naca.net
Old Debt Settlements Can Come Back to Haunt with Large Tax Bite
December 1st, 2008 · 2 Comments · Consumer Debt, Credit Counselor Front Lines, Debt Collection
Q. I settled a debt in 2007 for less than owed, paying $15,000 on a $22,000 debt. I just today received a $7000 1099c for tax year 2007 from the creditor in the mail. Does this actually mean that I have to amend my tax return for 2007?
A. A 1099c is a [...]
Tags: 1099c·Credit Card Companies·Debt Settlement·Forgiven Debt·Insolvency·IRS·Junk Debt Buyers·Taxes
