Fighting Back Against Debt Collection Lawsuits (LIVE)

TL;DR

Attorney John Skiba answers viewer questions about debt-related issues, including bankruptcy and consumer protection.

Transcript

hey everybody and welcome to thursday night uh john skiba here on the consumer warrior youtube channel and like every thursday night we do a live stream here where we talk about all things debt related i am an attorney in the state of arizona i work for the law firm of jackson white my number and my website everything scrolling along the bottom her... Read More

Key Insights

• ❓ Filing for bankruptcy may be a suitable option when debts become unmanageable and repayment seems impossible.
• 💳 Private arbitration can be an alternative to litigation if there is an arbitration clause in the credit card agreement, but costs and procedures should be considered.
• 😨 Prior to filing for bankruptcy, it's generally advisable to avoid making major financial purchases, such as buying a car.

Questions & Answers

Q: When should I consider filing for bankruptcy?

If you are unable to repay your debts and see no way of making progress, bankruptcy may be a viable option. It can help you recover financially sooner than expected, with most people experiencing credit recovery within two to three years.

Q: Can I file for arbitration if the terms and conditions of my credit card agreement have an arbitration clause?

Yes, you can file a motion to compel private arbitration if your credit card agreement includes an arbitration clause. However, keep in mind that the costs and rules of arbitration may vary, and starting over in arbitration is a separate process from the court.

Q: Should I buy a car before or after filing for bankruptcy?

It's generally advised to maintain the status quo and avoid making significant financial changes, such as purchasing a car, before filing for bankruptcy. Consult with a bankruptcy attorney in your state for guidance on exemptions and specific requirements.

Q: How do debt collectors find my employer for wage garnishment?

Debt collectors can research your employment information through credit reports, bank levies, or by requesting a judgment debtor's exam or post-judgment discovery. Once they obtain a judgment, it becomes difficult to settle debt, so it's crucial to consider bankruptcy or prompt settlement.

Summary & Key Takeaways

• Attorney John Skiba hosts a live stream on the Consumer Warrior YouTube channel every Thursday to discuss debt-related topics.

• Viewers can ask questions in the chat section, and Skiba provides general advice since he is licensed in Arizona.

• Skiba announces a upcoming boot camp on debt collection lawsuits and provides registration information.