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

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June 11, 2021
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Consumer Warrior
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Live Q&A Tonight! Debt Collection Lawsuits, Bankruptcy, and More!

TL;DR

Consumer attorney John Skiba discusses debt collection lawsuits, bankruptcy, and offers advice on how to navigate these situations.

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Key Insights

  • 😀 Bankruptcy can be a viable solution for individuals facing overwhelming debt, regardless of the amount owed.
  • ❓ Original creditor lawsuits are generally more challenging to defend against than debt collector lawsuits.
  • ✋ Creditors like American Express often demand high settlements, requiring negotiation to find an agreeable solution.
  • 💼 Filing a motion to compel arbitration can be a strategy to avoid traditional court proceedings in debt collection cases.
  • 💼 Bankruptcy cases may discharge debts, but if there are assets to distribute, the case may stay open until distribution is completed.
  • 🆘 Regular communication with an attorney can immensely help navigate debt collection lawsuits and bankruptcy.
  • 🆘 Understanding the legal process and available options can alleviate stress and help individuals make informed decisions.

Transcript

hey everybody john skiba here and it's thursday night so we are here doing our weekly discussion on debt collection lawsuits bankruptcy all the other terrible things when it comes to debt collection out there um man dave right out of the shoot thank you for the super chat uh right as we're starting off here tonight i really appreciate that apprecia... Read More

Questions & Answers

Q: I maxed out all my credit cards and now owe $85,000 to 13 banks. What should I do?

In this situation, bankruptcy may be a suitable option to consider. Consult with a bankruptcy attorney to determine the best course of action based on your financial situation and ability to pay off the debt.

Q: Is it more difficult to defend against lawsuits from the original creditor compared to a debt collector?

Generally, it is more difficult to defend against lawsuits from the original creditor, as they usually have all the necessary documentation and witnesses to prove their case. Debt collectors often struggle to provide all the required evidence.

Q: My bankruptcy was dismissed, and a debt collector for American Express keeps calling me. What type of settlement would they accept?

American Express is known for demanding high settlements, typically around 80% of the debt owed. It is advised to put together a payment plan you can afford and negotiate with them to find a middle ground.

Q: I filed a motion to compel arbitration against a debt collector. Can they stop the process once they receive a copy?

It is possible for them to respond or object to the motion, but whether they can stop the process depends on the judge's decision. If the judge grants the motion, the case will proceed to arbitration.

Summary & Key Takeaways

  • John Skiba is a consumer attorney and bankruptcy attorney in Arizona.

  • He helps people defend themselves against debt collection lawsuits and offers assistance with bankruptcy cases.

  • Skiba also provides information on how to respond to collectors who violate the law.

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