Fighting Back | Live Q&A With Arizona Debt Attorney John Skiba | Summary and Q&A

424 views
April 7, 2023
by
Consumer Warrior
YouTube video player
Fighting Back | Live Q&A With Arizona Debt Attorney John Skiba

TL;DR

Get insights on dealing with default judgments from years ago, understanding exemptions in debt lawsuits, and protecting yourself from debt collectors after filing for bankruptcy.

Install to Summarize YouTube Videos and Get Transcripts

Key Insights

  • 🫤 Default judgments from several years ago can create complications during mortgage underwriting or other processes, and it's crucial to explore options for resolution.
  • 👮 Contacting the law office associated with a default judgment or conducting your own investigation to find a collection agency can provide potential solutions.
  • 📼 Understanding exemptions is vital when defending against debt collector lawsuits, as it can protect your assets and limit their collection efforts.
  • 💳 Debt collectors may send settlement offers for debts that are beyond the statute of limitations, but there is no obligation to pay unless it is beneficial for credit repair purposes.
  • 🚕 Tax debt is generally non-dischargeable in bankruptcy, and it is crucial to proactively address it with the IRS to avoid serious consequences.
  • 🖐️ State-specific laws and exemptions play a significant role in determining the outcome of debt-related issues, such as the sale of assets during bankruptcy.
  • 💁 The Fair Debt Collection Practices Act requires debt collectors to provide disclaimers if a debt is beyond the statute of limitations, informing individuals that they cannot be sued for the debt.

Transcript

hey everybody John skiba here and welcome to Thursday night hello everyone welcome to the consumer Warrior YouTube channel John skiba here and I'm founder of the consumer Warrior YouTube channel all those many years ago and we're back here on a Thursday night like we are each and every week where I do a live q a to discuss all things debt related w... Read More

Questions & Answers

Q: What should I do if I have a default judgment from seven years ago that I just found out about during the mortgage underwriting process?

Start by checking the judgment for any law office contact information. Contacting the law firm can help determine if there is another party you can engage with to settle the judgment.

Q: If there are no exemptions and I'm sued by a debt collector, what happens if I only have a limited amount of money in my bank account?

In this scenario, wage garnishment and bank levies are common methods for collection. However, if the amount in your bank account is within the exemption limits set by your state, they will not be able to collect any money.

Q: I received a settlement offer from a debt collector for an old debt that is beyond the statute of limitations. Should I pay or ignore it?

If the debt is outside the statute of limitations and the debt collector explicitly states that they cannot sue you, there is no legal obligation to pay. However, if the debt is still impacting your credit score, consider engaging them to make arrangements or speak with a credit repair professional.

Q: Can debt collectors pursue tax debt after filing for bankruptcy, and how can I protect myself?

In most cases, tax debt is non-dischargeable in bankruptcy. If you owe tax debt, particularly to the IRS, it is essential to contact them directly and address the debt accordingly since ignoring it can lead to serious consequences such as wage garnishment or property liens.

Summary & Key Takeaways

  • Many individuals face challenges when they discover a default judgment from years ago during the underwriting process for a mortgage, especially if they can't locate the original creditor.

  • Options to handle this situation are somewhat limited; reaching out to the law office associated with the judgment or conducting your own detective work to find a collection agency can provide some leads.

  • In cases where the default judgment is still affecting your credit report, raising an objection with TransUnion, Equifax, and Experian can prompt them to remove it if the debt remains unsubstantiated.

Share This Summary 📚

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on:

Explore More Summaries from Consumer Warrior 📚

Summarize YouTube Videos and Get Video Transcripts with 1-Click

Download browser extensions on: