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Credit Default Penalties

Discuss the legalities of Bankruptcy Law

Credit Default Penalties

Postby josephus » Fri Nov 25, 2016 11:24 am

After filing bankruptcy 5 years ago,my friend has once again charged up cards to where she can't pay her bills being her only income is ssi. She has no assets or property except a car that she is paying on. What could happen if she doesen't pay her $9000 credit card debt?
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Credit Default Penalties

Postby Hillock » Fri Nov 25, 2016 7:11 pm

After filing bankruptcy 5 years ago,my friend has once again charged up cards to where she can't pay her bills being her only income is ssi. She has no assets or property except a car that she is paying on. What could happen if she doesen't pay her $9000 credit card debt?
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Credit Default Penalties

Postby chadburne48 » Sat Nov 26, 2016 10:30 am

Hey Jeff,

This is one of the biggest problems that we see as collectors.  People essentially get a "free Pass" so that the slate is wiped clean and they run right out and charge up all the cards that they can.

This, my friend, is nothing but stupidity. An the new bankruptcy laws are making it much more difficult to do this than they used to be.

Now, if you have been reading my replies, you know that I will do whatever I can to protect the small guy. Buy in this case, you friend needs some serious credit education. Kinda like AA for spenders.

You can not bail her out, because it will happen over and over again.

Here is one solution.. Find A NON-PROFIT Consumer Credit Counseling Company(I can not believe that I am telling you this. I used to own one of these services and I HATE THEM)

Have her make payments to them and they will(Should) negotiate the payments MAKE SURE THEY ARE LEGIT!

Jeff, you have to let her know that this serial spending is not good.

Now, to answer your question about what will happen if she does not pay on the unsecured debt.... NOTHING.

It will just sit on her credit.  That is because the balance is so small. and very few agencies will waste the time to collect on someone like her.

They may threaten to sur, or even sue, but you might as well use the judgment as toilet paper, as that is all it is worth. She can not and never will pay.

But you as a friend have a moral responsibility to make sure she sees that the laws have changed and the game is now different!

Thanks So Much, and please provide positive feedback!

Have a great day !

Robert Paisola

Chief Executive Officer

Western Capital Financial Services and

The Success Training Network

www.mycollector.com

www.RobertPaisola.com

ABOUT YOUR AUTHOR:

Robert Paisola is driven by a passion for people--motivating them to reach for the highest standards of success. As founder and president of many International Corporations including Western Capital and The Success Training Network, Robert trains sales and marketing professionals who want to strive to get to the top...and stay there.

His innovative, no-nonsense approach is based on applying what he has observed in his fifteen-plus years in sales, motivational speaking and debt collection training, thus revealing the common business habits of the top 20% of sales performers in all organizations.

Robert's approach works...that's why New York-based Success Magazine has rated Robert Paisola as one of the top-five most effective sales-training professional in the market today.

Routinely Distinguished by The National Speakers Forum, Robert is also a regular contributor to Business Week Magazine, CNN, CNNFN, XM Satellite Radio, The Wall Street Journal, Telemundo International, National Public Radio and many other organizations.

If you are looking for personalized service, Robert now has a reduced fee schedule for AllExperts.com members at:http://www.mycollector.com/news_vipservices.html

Do you want to see Live Video Results?  Click Here!http://kdka.com/video/[email protected]

For more information on Robert Paisola's unique training programs, contact Robert at Western Capital at [email protected] or at 1-877-517-9555 or visithttp://www.allexperts.com/displayExpert.asp?Expert=38419 or visit www.RobertPaisola.com  
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