The caller on the other end of the line had a question: “Can you do anything about a default judgment?” “Of course you can,” I responded. “It’s called a motion to vacate or set aside a default judgment, and I file them all the time.” The caller explained that he had just spoken to two …
Should You Settle with a Debt Buyer?
Let’s say you’ve just been served with a debt collection lawsuit. The company suing you is a debt buyer, a company who claims it purchased the right to enforce a debt you ran up on a credit card or other credit account. You’re being sued for about $7500. But you’ve read on the Internet or …
Taxman Cometh, Even in Debt Resolution
The old adage about the certainty of taxation is also true in debt relief. When a creditor cancels a debt, the Internal Revenue Service considers that to be taxable income. It’s also called “debt forgiveness income.” As discussed in a previous post on Debt Settlement, if you agree to settle a debt as opposed to …
Are My Student Loans Private or Federally-Guaranteed?
Many people who call us have questions about their student loans and repayment programs but they don’t yet know which of their loans are private bank loans and which are federally guaranteed. The best way to find out is to go to the National Student Loan Data System website (NSLDS) provided by the U.S. Department …
Are My Student Loans Private or Federally-Guaranteed?Read More