Questions and Answers About Debt and Debt Collection Companies

by Steven on August 8, 2012

Question and Answers

Q. I went to court because a debt collection company bought an old debt from a company and now they are trying to garnish my wages…what can I do?

A. The first thing you need to do is “Validate” that the debt collection company has all the appropriate documentation to come after you for the debt. If you’ve already been summons to court make sure you tell the judge that you would like to “Validate” that the debt collection company has all the appropriate documentation allowing them to collect the debt.

I see over and over again where someone pays an old debt to one debt collector and another one comes after them for the same debt a year or two later.

If they provide the documentation then you should ask the just for a few minutes with the debt collection company rep/attorney to attempt to negotiate the debt at a discount.

Never pay the old debt in full because the debt collection companies pay “Pennies on the dollar” for old accounts. Start low and allow them to counter your offer.

Q. My Pastor told me that bankruptcy was bad, is it wrong to file bankruptcy?

A. No! People and businesses file bankruptcy everyday. You shouldn’t file bankruptcy unless you’ve looked at all your options. Most people can avoid bankruptcy by simply cutting their expenses and stop wasting their hard-earned money on unnecessary material items such as clothes, cars, etc.

If you’d like some Free Help to see if you can work your way out of debt without filing bankruptcy please visit.

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