Debt Settlement vs. Bankruptcy

Is it better to settle your debts or file bankruptcy?  As with most legal issues, that greatly depends on your specific circumstances but this article will address when debt settlement may be a viable alternative to bankruptcy. Some debts are much easier to settle than others.  For instance, credit card companies will usually settle for…

Keeping Your Information Private from Debt Collectors

If you have defaulted on your debts and the accounts have been assigned to debt collectors then it is important to keep your personal information as private as possible.  Creditors and debt collectors will use your information to collect from you in anyway possible including filing lawsuits, filing liens against your property and garnishing your wages.…

A Victory for Consumers

A jury in Missouri recently hammered notorious debt collector, Portfolio Recovery Associates, LLC with a huge $83 million penalty for its violations of the Fair Debt Collections Practices Act. The jury found that Portfolio Recovery Associates (PRA) violated the rights of Maria Mejia when they sued her for a debt that was not hers.  The jury…

Can Creditors Garnish Wages?

In Colorado, Creditors can garnish wages and bank accounts once they obtain a judgment against you.  There are two main types of garnishments that consumers will see in debt collection cases: Writs of Continuing Garnishments and Writs of Garnishment with Notice of Exemption and Pending Levy.  These Writs are issued by a court for the…

Will Creditors Sue if you Don’t Pay?

Yes, in Colorado, creditors, can and will sue you if you don’t pay your bills.  This is true for most types of common debts including credit cards, medical debt and deficiencies on foreclosures and vehicle repossessions. Sometimes your original creditor will sue you directly but, more often, the creditor will sell the debt to a…