All Things Debt | Live Q&A with Arizona Attorney John Skiba

TL;DR

Get answers to debt-related questions, including bankruptcy, wage garnishment, and debt collection lawsuits, from a bankruptcy attorney in Arizona.

Transcript

hey everybody and welcome to Thursday night John skba here on the consumer Warrior YouTube channel it's Thursday night so I'm here we're here doing this like we do each and every week uh do a live stream Q&A where we talk about all things debt related including all the horrible things like bankruptcy wage garnishment debt collection lawsuits uh and... Read More

Key Insights

• 💳 Debt collectors may check your credit history and court case history to determine if they should sue you.
• 🪡 The burden of proof is on the creditor in debt collection lawsuits, and they need to establish elements such as an original contract, charges, payments, and ownership.
• 😒 Debt collectors often use trigger reports from credit reporting agencies to track changes in your financial circumstances.
• 💱 The timing of a debt collection lawsuit is not coincidental, and it may be triggered by your activities, such as applying for a mortgage or changing jobs.
• 🧑‍🎓 Chapter 7 bankruptcy can potentially discharge federal student loans if you can demonstrate undue hardship.
• 🖤 Affidavits and bills of sale from debt collectors can be challenged in court, especially if they lack specific information or exhibit inconsistencies.
• 🥺 Debt buyers often prioritize volume over the quality of documentation, leading to weaknesses in their cases.
• 🚙 Redemption loans through a 722 Redemption company can help individuals keep their vehicles or motorcycles by paying the current value rather than the outstanding balance.
• 💳 Bankruptcy does have a negative impact on your credit score, but credit recovery is possible within a couple of years.

Questions & Answers

Q: Can a debt collector take away my Treasury Direct IBonds?

Debt collectors can garnish wages or levy funds in a bank account, but they generally need a court judgment to do so. They also need to know about the specific assets.

Q: Do you offer legal representation for small businesses being sued for business loans in default?

I specialize in consumer bankruptcy and cannot provide legal advice on business restructuring. However, I can refer you to attorneys who focus on that area.

Q: Is it recommended to request debt validation when first contacted by a debt collector?

Yes, sending a validation letter can help verify the debt and ensure you are dealing with a legitimate collector. Platforms like Solo Suit can assist in sending a proper validation letter.

Q: After filing for Chapter 7 bankruptcy, is there anything that can be done about federal student loans?

Discharging federal student loans in bankruptcy is difficult but not impossible. If you can prove that repaying the loans would cause undue hardship, there is a chance they can be eliminated.

Q: Can the bill of sale and affidavit from the original creditor be challenged in court?

Yes, it is possible to challenge the bill of sale and affidavit provided by debt collectors. Inconsistencies or missing information can weaken their case.

Summary & Key Takeaways

• Bankruptcy attorney John Skeba hosts a live Q&A session to provide information and resources on all debt-related topics.

• His goal is to alleviate stress and help individuals create a plan to deal with overwhelming financial situations.

• Skeba shares insights from a recent trial where a client successfully defended against a debt collection lawsuit.