Live Q&A - Debt Solutions, Bankruptcy, Collection Lawsuits, and More! | Summary and Q&A

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September 17, 2021
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Consumer Warrior
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Live Q&A - Debt Solutions, Bankruptcy, Collection Lawsuits, and More!

TL;DR

Consumer advocate John Skiba answers questions about debt collection, bankruptcy, and legal issues related to credit card debt.

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Key Insights

  • πŸ’³ Bankruptcy does not require being behind on payments; once you decide to file, continuing to pay credit card bills may not benefit your credit score.
  • ☺️ Court-ordered arbitration is similar to a trial but has a more relaxed setting. Prepare for arbitration as you would for a trial.
  • πŸ“œ Original creditors often file their own lawsuits and are more challenging to defend against due to their access to documents and witnesses.
  • πŸ“ Statute of limitations for filing a lawsuit varies from state to state, and judgments can be valid and enforceable even if they are several years old.
  • πŸš• Chapter 7 bankruptcy can discharge debts but may require surrendering tax refunds to the trustee.
  • 😚 Crypto assets may not be protected in bankruptcy, so consulting with an attorney is recommended to avoid losing them.

Transcript

hey everybody and welcome to thursday night uh john skiba here on the consumer warrior youtube channel where each and every thursday evening we talk about debt collection bankruptcy debt collection lawsuits and all things terrible as it relates to dealing with debt collection and how you can get some of these issues resolved so welcome to the uh li... Read More

Questions & Answers

Q: Do I have to be behind on my bills or dealing with a lawsuit to qualify for Chapter 7 bankruptcy?

No, bankruptcy does not require being behind on payments. It is advisable to stop paying on credit cards once you decide to file, as it won't benefit your credit score.

Q: How do I prepare for arbitration in a court-ordered arbitration with a creditor?

Treat arbitration like a trial, gather evidence, and familiarize yourself with the arbitration process. Check out Skiba's videos for advanced techniques on dealing with trials and arbritations.

Q: Is it possible to obtain an original credit card application or agreement with the credit card company?

In the age of online applications, it may not be possible to get a signed agreement. However, you can find the terms and conditions of the credit card by searching online or visiting the Consumer Financial Protection Bureau's website.

Q: Does it make sense to pursue litigation in defending a lawsuit from an original creditor?

Litigation against original creditors can be challenging to win. Unless there are significant factual issues, it is recommended to consider settlement options or invoking arbitration clauses.

Summary & Key Takeaways

  • John Skiba, an attorney in Arizona, hosts a weekly live stream on his YouTube channel to discuss debt collection, bankruptcy, and related legal topics.

  • Viewers can submit questions for Skiba to address during the live stream.

  • Skiba answers questions about bankruptcy eligibility, debt settlement, compulsory arbitration, and defending against lawsuits from original creditors and debt buyers.

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