We Will Take Your Debt Collection Calls
You have enough to worry about. We will take your debt collection calls for you. Some debt collectors are pretty good at their jobs. The more adept debt collection companies will try to force you into making bad decisions. But you don’t have to let that happen. You have to take control of the situation. […]
How to Settle a Debt If You Get Sued
In most cases, you can settle a debt if you get sued. But you must go about it in the right way. You may have legitimate defenses, in which case you should strenuously exert them. If you do not dispute that you owe the debt, however, then you should attempt to settle the debt. Debt […]
Feds Sue the Nation’s Largest Debt Settlement Company
On November 8, 2017, the Consumer Financial Protection Bureau (CFPB) sued the nation’s largest debt settlement company, Freedom Debt Relief, part of the Freedom Financial Network. According to the CFPB, Freedom deceives consumers by charging them without without settling their debts as promised. Freedom instead expects its customers negotiate their own settlements, misleads them about […]
Don’t Face Your Debt Alone
Don’t face your debt alone. Hire a lawyer to stand up for you to your creditors. You want a lawyer who understands you and your goals. But also you want a lawyer who understands your creditors and the entire debt collection process. An advocate who will fight for you. Don’t face your debt alone. At […]
The Steep Cost of Debt Settlement Companies
The cost of debt settlement companies is steep, too steep. Debt settlement companies trash your credit and increase your tax liability. And in most cases, debt settlement companies will fail to settle a single debt on your behalf. Here’s why I believe debt settlement companies are a very poor choice for most people. The Cash Cost […]
D.C. Leads U.S. in Complaints about Debt Settlement Companies
According to the Consumer Financial Protection Bureau, Washington, D.C. leads the nation in complaints about debt settlement companies. In the CFPB’s latest monthly complaint report, the District of Columbia registered 893 complaints per 100k population. By contrast, Maryland had 521 complaints per 100k residents, and Virginia had just 385. As I have written previously, debt […]
Debts Discharged in Bankruptcy are Not Taxable
Settled debts must be included in your income taxes If you settle a debt for less than you owe, the balance canceled or forgiven is taxable income. You must report any cancelled or forgiven debts as part of your gross income on your income tax return. The creditor will send you an IRS Form 1099-C […]
The Bankruptcy Threat in Debt Settlement Negotiations
When attempting to settle a debt or otherwise negotiate with a creditor, the bankruptcy threat is a potent weapon. The credible threat of bankruptcy from your attorney can induce a creditor to reconsider his position during negotiations. Creditors More Willing to Negotiate If You Are Willing to File Bankruptcy Suppose you want to settle a debt for less than is owed. Do you […]
Debt Settlement Attorney in Washington D.C. and Virginia
You may not want to file personal bankruptcy on a debt. You may owe just a single debt, or maybe just a few. In some cases, it makes more sense to consider debt settlement over bankruptcy. Consider hiring an experienced debt settlement attorney in Washington D.C. and Virginia to engage in debt settlement on your behalf. A creditor […]