How to Win a Debt Collection Lawsuit (Livestream) | Summary and Q&A

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June 3, 2022
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Consumer Warrior
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How to Win a Debt Collection Lawsuit (Livestream)

TL;DR

Consumer protection attorney provides insights on bankruptcy, debt collection lawsuits, and defending against garnishment.

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Key Insights

  • ๐Ÿ˜š Bankruptcy often follows wage garnishment, as individuals lose leverage to negotiate with creditors.
  • ๐Ÿ’ณ Paying off car loans with credit cards before bankruptcy can complicate the process and potentially result in more financial trouble.
  • โšพ Settlement options for debt collection lawsuits differ based on whether the creditor is a junk debt buyer or an original creditor.
  • ๐Ÿคจ Disputing debts resulting from undelivered merchandise can be a valid defense and should be raised in court.
  • ๐Ÿค The attorney's videos provide valuable information and guidance for individuals dealing with debt-related issues.
  • ๐Ÿ“ Filing a motion to compel arbitration can be an effective strategy in debt collection lawsuits, but it requires careful handling and adherence to the arbitration clause.
  • โ“ Responding to lawsuits and filing answers is crucial to avoid default judgments.

Transcript

hey everybody welcome to thursday night uh back at it again on this thursday night like we are each and every thursday except for last week uh my twin daughters were graduating from high school and so uh had to be there for that but uh we're back here uh here on the consumer warrior youtube channel my name is john skiba i'm a consumer protection at... Read More

Questions & Answers

Q: Can a defaulted case with wage garnishment be stopped without declaring bankruptcy?

It is challenging to stop wage garnishment without bankruptcy, as this method provides limited leverage. However, filing a motion to reopen the case may provide an opportunity to negotiate a settlement or possibly nullify the default judgment.

Q: Can a credit card be used to pay off a car loan before filing bankruptcy?

Paying off a car loan with a credit card before filing bankruptcy can complicate the process. Credit card debts incurred shortly before bankruptcy may be objected to by the credit card company, and owning a car free and clear in bankruptcy may result in less protection for the vehicle.

Q: What are the options for settling a debt collection lawsuit with an original creditor like Bank of America?

Original creditors like Bank of America are often less willing to settle for a lower amount. However, demonstrating severe financial hardship or offering a lowball settlement may increase the chances of reaching a favorable agreement.

Q: How can one dispute a debt collection lawsuit by LVNV for an amount higher than the original debt?

Negotiating with LVNV or their law firm is essential. Debt buyers like LVNV may settle for lower amounts, as they are often more open to negotiation. Exploring options for settlement, hardship, or requesting proof of ownership can increase the chances of reaching a lower amount.

Summary & Key Takeaways

  • The attorney advises that bankruptcy often follows wage garnishment as individuals lose leverage to negotiate with creditors.

  • Paying off car loans with credit cards before filing bankruptcy can cause complications in the bankruptcy process and potentially result in more financial trouble.

  • The attorney explains the different options for settling debt collection lawsuits, depending on whether the creditor is a junk debt buyer or an original creditor.

  • Disputing debts resulting from undelivered merchandise is a valid defense and can be raised in court.

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