The first option is both the easiest and the most difficult. If you have the money to simple pay the judgment, you can stop the garnishment almost immediately by paying the full balance owed. In reality, 99% of people who have judgments against them are not in a position to pay the judgment immediately. If you can't pay the judgment immediately (and let's be honest—most people can't pay a large judgment with spare cash), there may be other options.
The acronym "FDCPA" stands for the Fair Debt Collection Practices Act. It's a federal law that governs how debt collectors deal with consumers. As a consumer lawyer, I sue debt collectors under the FDCPA. This post will give a little insight into how an FDCPA lawsuit happens. And for giggles, I'll write it in the narrative form.
First of all, don't panic. You need to be thinking clearly because what you decide to do next will have a major impact on a number of things. The first thing you should do? Write down who served you, how you were served, and where it happened. If you were served personally, write down what the person looked like. If you found the papers on your porch, write down exactly where, how they were held together, and the address where they were left. If you found them in the mail, save the envelope.
For people who have never filed for bankruptcy (and for lawyers that don't practice bankruptcy law), the actual mechanics of filing for bankruptcy are unknown. The goal of this post is to answer some common questions about filing from bankruptcy and to give you an idea of what a typical bankruptcy proceeding under Chapter 7 entails. We'll touch on Chapter 13 later.
Ah, Midland Funding. Any lawyer working with people to resolve debt issues has run across Midland Funding. I wish I could say nice things, but that's just not in the cards.
Midland Funding is a debt buyer that purchases mountains of debt from credit card companies at extremely low rates and tries to collect that debt from people who have never heard of or done business with Midland Funding.
If you're reading this, you have probably received a Summons and Complaint from someone you've never heard of called the "National Collegiate Student Loan Trust 20XX- X". I would bet almost any amount of money that you have never done business with anyone named the "National Collegiate Student Loan Trust".
But I would bet that you had a private student loan. What you're looking at is the result of "securitization" of that loan.
There were once two people who had a lot of credit card debt. Let's call them Jane and Ingrid. Both Jane and Ingrid went to college for four years and had a hard time finding a job after. They used credit cards to buy groceries and other things, not because they were spending all of their money on fun things, but because they had no other choice. After a few months, Jane and Ingrid each came down with a bad case of pneumonia and had to spend some time in the hospital. The bills piled up.
A lot of people go into a Chapter 7 Bankruptcy not knowing much about how the process works. Today I am going to spend some time outlining what happens in a typical Chapter 7 case from consultaiton to discharge and beyond. This may not be how your case goes, as every case is different, but most Chapter 7 cases follow a very similar pattern through the bankruptcy court.