Debt seems to be a national problem in the United States. No matter where you live, you could fall into it, as it depends on your income and lifestyle more than your location. The solution, on the other hand, is not a “one-size-fits-all” situation. Your options are going to be different depending on where you are. The statute of limitations, which will help you either avoid or get out of lawsuits from creditors, is different in every state, and even by time. The Statute of Limitations in Arizona, for instance, has changed. Continue reading →

It can easily seem like you are in a never-ending cycle when you are in debt. It gets extremely difficult when everyday expenses and bills prevent you from paying off your debt. The penalties for not being able to make payments are frightening, and creditors always seem to be insistent. However, do not feel like you are powerless when you are in the burden of lingering debt. You may be legally protected by the statute of limitations, and this article will be specific to residents of Nevada. Continue reading →

Michigan has no state provisions for limiting garnishment. Therefore the federal limit of 25% of net wages applies. No judgment is required for back taxes, court ordered child support and arrears, as well as for student loans in default. Continue reading →

A judgment is a court order to pay a certain amount of money to a lender who has filed a lawsuit against the borrower. Creditor, lenders, debt collectors, or other third-party debt collects can file such lawsuits and if they win the case, a judgment is made against the borrower. Unfortunately, the judgment goes on credit reports and staying on record for ten years from the date the lawsuit was filed. Maintaining a good credit report is necessary in our world, and it is vital borrowers acknowledge and understand their Statute of Limitations of debt in their state when borrowing money from another party. Continue reading →

Are you constantly being hassled and harassed by debt collectors who are telling you they are going to file a lawsuit against you? Well, there is such a thing called statute of limitations on debt. This basically states that there is a limit on the amount of time you can be sued for debt. Once this statute expires, your debt will still exist and may be listed on your credit report but you will no longer be legally required to repay the debt. Continue reading →

Being indebted to someone is a scary prospect in itself.  It brings with it the fears of how additional charges and poor credit will affect your life in the future. Still, there are other effects debt can have on your life that everyone doesn’t necessarily consider. For instance, wage garnishment is a legitimate course of action a creditor can use to retrieve payment. Where you live will affect how worried you should be. If you’re living in Colorado, you may be wondering what limits on wage garnishments exist. Continue reading →

If you owe money to a creditor, they may try to garnish your wages. This would mean that part of your paycheck would go directly to them every time you are paid. This may get the debt paid off, but it can make life difficult if you are living paycheck to paycheck as it is. Luckily, most states have certain laws to protect debtors from losing their entire paycheck before they can pay their bills. For instance, there are some very specific wage garnishment limits in West Virginia. Continue reading →

Anyone who has experienced credit card debt is all too well aware of the determination that creditors show in extracting due payment regardless of the conditions that debtors may be facing. Continue reading →

Divorce can be a nightmare for everyone involved. It is especially difficult for children who may end up in a custody battle. A custody battle may involve multiple court appearances, examinations from social workers, and money. Once the custody and visitation rights are determined, child support is then determined. But, even before you start paying child support, you will have to pay for the custody battle. There will be fees for appearing in court, and even more fees will be involved if you hired an attorney. Finding some extra cash to pay for a custody battle may be difficult, but it’s not impossible. Continue reading →

Just like Oscar tells his boss Michael Scott on an episode of The Office, “you can’t just say the word bankruptcy and expect something to happen.” Michael then uses the great ambiguity of the English language by saying he didn’t say it; rather, he declared it. While telling your best buddy or a fellow employee you are bankrupt doesn’t mean anything legally, it can actually be a start to the process. You can’t keep being in denial; if your liabilities are greater than your assets, you must accept the fact in order to get help. Filing a Chapter 7 bankruptcy is a process that takes some time and a lot of information gathering. Continue reading →