That might mean writing a timely response and showing up to court on the date stated in the court papers, even if you think you don’t owe the debt.īy responding to the lawsuit, either yourself or through an attorney, you’re requiring the debt collector to make their case and protecting your rights. Getting sued by a debt collector can be stressful, and you might not know where to start. Where Do I Report a Debt Collector for Breaking the Law?.A Debt Collector is Suing me - Now What?.Identity Theft and Online Security Show/hide Identity Theft and Online Security menu items.Unwanted Calls, Emails, and Texts Show/hide Unwanted Calls, Emails, and Texts menu items.Money-Making Opportunities and Investments.Jobs and Making Money Show/hide Jobs and Making Money menu items. ![]() Credit, Loans, and Debt Show/hide Credit, Loans, and Debt menu items.Shopping and Donating Show/hide Shopping and Donating menu items.“ Does Debt Settlement Make Sense for You?” National Foundation for Credit Counseling. “ What’s the Difference Between a Credit Counselor and a Debt Relief Company?” “ How Much Does Debt Counseling Cost?”Ĭonsumer Financial Protection Bureau. ![]() “ Chapter 13 - Bankruptcy Basics.”Įxperian. “ How Long Does Bankruptcy Stay on Your Credit Report?” “ What Do I Need to Know About Consolidating My Credit Card Debt?” “ What Is Credit Counseling?”Ĭonsumer Financial Protection Bureau. “ Debt Relief Services and the Telemarketing Sales Rule.”Ĭonsumer Financial Protection Bureau. “ Financial Outcomes for Debt Settlement Programs.”įederal Trade Commission. “ Debt Relief Solutions.”Īmerican Association for Debt Resolution. “ What Are Debt Settlement or Relief Companies?” It stays on your credit report for seven years.Ĭonsumer Financial Protection Bureau. Chapter 13 bankruptcy is open to people who make more than the area median income, but it takes longer than Chapter 7 bankruptcy. After that, most remaining debts are erased. Chapter 13 bankruptcy: Chapter 13 bankruptcy allows you to keep your property and make the payments your budget will allow for over three to five years.Chapter 7 bankruptcy stays on your credit report for up to 10 years. You must meet certain requirements, but people earning below the median income in their area tend to qualify. Your creditors will have a chance to ask you questions, and your non-exempt property will be sold to pay off your debts. Filing Chapter 7 stops collection efforts. Chapter 7 bankruptcy: Chapter 7 bankruptcy is a legal process by which you can erase many of your debts. ![]() Once that debt is paid, you move onto the debt with the next highest interest rate. It involves making minimum payments on all your debts and devoting all the extra cash you have to the debt with the highest interest rate.
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