How To Win Your Debt Collection Trial Without Going To Trial (2022 Update) | Summary and Q&A

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September 29, 2022
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Consumer Warrior
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How To Win Your Debt Collection Trial Without Going To Trial (2022 Update)

TL;DR

Learn four strategies for avoiding trial and resolving a debt collection lawsuit, including arguing the statute of limitations, compelling private arbitration, negotiating a settlement, or considering bankruptcy.

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Key Insights

  • ⌛ The statute of limitations can vary by state, so it is important to understand the specific time limit within which a debt collection lawsuit can be filed.
  • 🎮 Private arbitration can be a strategic option, as it provides a more controlled and cost-effective path to resolve the lawsuit.
  • 🎮 Settlement is a practical solution for those seeking to eliminate the lawsuit quickly and regain control over their financial situation.

Transcript

hey everybody John skiba here from the consumer Warrior YouTube channel and in this video I'm going to share with you four ways that you can get rid of your debt collection lawsuit win it without even going to trial if this is your first time here to my YouTube Channel please click subscribe check that Bell that way you'll be notified each and ever... Read More

Questions & Answers

Q: How does arguing the statute of limitations help in getting rid of a debt collection lawsuit?

By determining if the lawsuit was filed within the time period allowed by law, you can file a motion to dismiss if the statute of limitations has expired, convincing the court to throw out the case.

Q: How does compelling private arbitration benefit the defendant in a debt collection lawsuit?

Private arbitration can be more cost-efficient and favorable for the defendant, as filing fees are lower and it disrupts the collection law firms' streamlined process, often leading to a dismissal or a low-cost settlement.

Q: Why might settling the debt collection lawsuit be considered a win?

While settlement involves paying a sum of money, it allows the defendant to take control of the outcome and resolve the case on their terms, avoiding the uncertainty and stress of a trial.

Q: When is bankruptcy considered a viable option to get rid of a debt collection lawsuit?

Bankruptcy is particularly useful if the lawsuit is just one part of a larger debt problem. By filing for Chapter 7 bankruptcy, the case is immediately halted, all collection efforts cease, and the debt is discharged.

Summary & Key Takeaways

  • Arguing the statute of limitations: Check if the debt collection lawsuit has been filed within the time period allowed by law and file a motion to dismiss if it has expired.

  • Compelling private arbitration: Use the arbitration clause in the credit card agreement to request resolving the dispute through private arbitration, which can be more favorable and cost-effective.

  • Negotiating a settlement: Even though it involves paying a sum of money, settling the case outside of court allows you to take control of the outcome and move on from the debt.

  • Bankruptcy as a last resort: If the debt problem is significant and there are other debts to consider, bankruptcy can eliminate the lawsuit and provide a fresh start.

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