The New York Times has an article on a lawsuit in New York against debt collectors who engage in fraudulent practices. They were doing all sorts of nasty things, like not actually serving lawsuits but asking for default judgment, which is apparently called “sewer service”. What happens is that the first time the debtor learns…Read more
What Is Debt Collector Harassment?
The federal Fair Debt Collection Practices Act is very clear as to what constitutes harassment: A debt collector may not engage in any conduct the natural consequence of which is to harass, oppress, or abuse any person in connection with the collection of a debt. Without limiting the general application of the foregoing, the following…Read more
16 Things Debt Collectors Can’t Say
What The Fair Debt Collection Practices Act Prohibits You’ve heard the stories. Maybe you’ve gotten the phone calls. Debt collectors shouting, shaming, and belittling consumers. It’s bad enough that you find yourself behind on your debts. I am still not convinced that people enter into contracts with the intention of the screwing over the other…Read more
Top 7 Reasons Your Debts Won’t Be Discharged in Bankruptcy
One of the things that I get asked in almost all bankruptcy consultations is whether or not I think there’s any chance that someone will keep one of my clients from having her debts discharged. While having the trustee, US Trustee, or creditor object to someone’s bankruptcy is not out of the question, it is…Read more
Walking Away From Your Mortgage In Colorado
There has been a lot in the news lately about homeowners who are upside down and underwater on the mortgages and have decided to walk away from their homes and their mortgage. The question in the back of my mind is whether this is a walk down a yellow brick road, or a path to…Read more
Having Your Check Garnished – 5 Things You Should Know
You’d be surprised at how many phone calls I get on payday. The caller is panicked. Their pay is lighter than they were expecting. They aren’t sure how they’re going to pay rent or daycare. They need help. Your paycheck can be garnished without the company garnishing your warning you ahead of time. The only…Read more
Where A Bounced Check Can Land You
If you’ve had a checking account, at some point you’ve probably been in the red. It’s especially an easy thing to do in this Electronic Age when all you have to do is whip out your debit card and keeping track of your balance can be either as easy as checking it online or as…Read more
What You Need to Know about the Colorado Foreclosure Protection Act
The Colorado Foreclosure Protection Act was created because “too many home owners in financial distress, especially the poor, elderly, and financially unsophisticated, are vulnerable to a variety of deceptive or unconscionable business practices designed to dispossess them or otherwise strip the equity from their homes. There is a compelling need to curtail and to prevent…Read more
Avoid Foreclosure Rescue Scams
This video from the Federal Trade Commission highlights the risks of agencies who claim to help “rescue” your home from foreclosure.
5 Things To Ask For In A Debt Settlement Negotiation To Save Money
Read on to learn about the 5 things to ask for in a debt settlement negotiation to save money. Know what I hate? I hate having any work done on my car. I loathe going into the shop and being at the complete mercy of the mechanic, because I don’t know anything about how cars…Read more