Are you being harassed by a debt collector for an old debt you thought was written off years ago? If so, it is likely that you are being contacted by a scavenger debt collector. These individuals are known for using illegal and unethical methods to collect “time-barred” debt. However, if the debt is considered too old by your state then you do not have to pay it. Continue reading →

A statute of limitations on debt is a law that states the maximum time limit a creditor has to file a lawsuit against a consumer because of an unpaid debt. If you were never aware of this, it would definitely be beneficial to read through this article as well as others to get the information that you may need. This article deals specifically with the statute of limitations set in the state of New Jersey. Continue reading →

Connecticut law is quite clear on how long a debt collector may pursue a debt against you. It takes 6 years for debts to die in Connecticut, or longer if you extend the statute of limitations. Continue reading →

Your debt troubles don’t stop when your creditors charge the balances off as bad debts. Ohio laws offer very little in terms of debtor protection. Continue reading →

Filing bankruptcy is obviously not an ideal situation, but it is not the end of the world either. No matter which type of bankruptcy you file, Chapter 7 or Chapter 13, you have to make changes to your life after the fact. Continue reading →

Are you being hounded or harassed by debt collectors for an old debt you thought was written off years ago? If you answered yes, then it is likely that you are being contacted by a “scavenger debt collector.” These are companies that purchase older, mostly uncollectible debts for a small fraction of its value. These type of debt collectors are widely known to use unethical and illegal methods to collect time-barred debt. Continue reading →

Garnishment is a legal solution authorized by a court when all other attempts to have the debt paid back have failed. Having to go through this is a very difficult thing. You go to work every day to pay your rent or mortgage, utility bills, gas for your car, etc. If you have a family to support, but you see money being taken out of your paycheck, it can put a lot of stress on your shoulders. Continue reading →

Debts have a form of expiration date attached to them known as the statute of limitations. If you did not know this, then it would be a wise decision to read through this article as well as others to get the information that you need about this particular concept. Statue of limitations is the period of time a debt collector or agency has in which they can legally sue you for an unpaid debt. However, an expired statute of limitations prevents them from pursuing a debt indefinitely. Your debt will still exist and may be listed on your credit report, but you will no longer be legally required to pay for it. Continue reading →

A wage garnishment is an order from the court or a government agency that lets your employer know that they need to withhold money from your paycheck as compensation for an unpaid debt. Having this happen to you can be a very stressful thing, especially because you rely on that money to help support your family and make sure they are taken care of. Fortunately, there are limits that are set up stating how much money can be withheld so the creditor does not get too greedy. Continue reading →

Debt is a national problem, but debt collection (except for that owed to the IRS, but we won’t get into that) is a state issue. That is why each state has its own statute of limitations. However, the statute of limitations is affected not only by location, but also on the type of debt. For that reason, it is not as simple as saying “the statute of limitations on debt collection in Illinois is x number of years.” There is more to it. Continue reading →