FAQ

Yes, Bankruptcy is not your only available solution.  If your debts are financially manageable, there may be an opportunity to work-out monthly payment plans and/or lump-sum settlements with your various creditors and avoid having to seek Bankruptcy protection.  Should you wish to further explore...

Legal proceedings are complex matters.  Further, employees of the Court are lawfully precluded from dispensing advice.  Therefore, in representing yourself you would have to effectively navigate through the Rules of Evidence, Rules of Civil Procedure, Rules of Court, understand the law as it pert...

Our firm has represented people from a broad spectrum of backgrounds.  That has included physicians, accountants, teachers, nurses, professors, dentists, psychologists, airline pilots, social workers, executives, attorneys and business owners.  However, regardless of their measure of education or...

A common misunderstanding is that once a lawsuit is filed the Court sets a date for the parties to appear before the Judge.  However, that is not a legal requirement in civil proceedings.  So if the Defendant fails to effectively respond to the Complaint by filing an Answer within twenty-eight (2...

Portfolio Recovery Associates is a debt purchaser.  They acquire default accounts from original credit issuers.  Once they own the obligation they can engage in any lawful collections efforts, including phone calls, letters, lawsuits, and post Judgment activities such as wage garnishment and bank attachment. Portfolio is owned by the PRA Group, a publically traded company.  In 2022 they acquired $850 million ($850,000,000.00) in default accounts, collected $1.7 billion ($1,700,000,000.00) from debtors, and generated a net profit in excess of $117 million ($117,000,000.00).  At the conclusion of that year they owned about $5.7 billion ($5,700,000,000.00) in outstanding balances, which is equivalent to around 5% of all credit card debt nationwide.  The benefit to an original credit issuer in selling to Portfolio is that they derive some value in exchange for a non-paying account.  Meanwhile, Portfolio generates a profit by successfully collecting sums from debtors that exceed their operational costs.  So given their scale, Portfolio serves a substantial role in the default collections industry. 

A creditor's lawsuit can be Dismissed for numerous reasons.  The Notice or Order will then indicate whether that occurred With Prejudice or Without Prejudice.  If Without Prejudice, the matter could potentially be refiled.  However, if Dismissed With Prejudice then the creditor would be legally barred from filing another lawsuit. 

A creditor's lawsuit must be filed within the time-frame provided for under law.  That is called a Statute of Limitations (SOL).  As it pertains to loans, credit and charge account obligations in Ohio, it is a six (6) year duration measured from the last payment on account, or when the balance became over due.   However, sometimes a creditor may initiate a case beyond the SOL.  In those circumstances the Defendant must then effectively respond to the Complaint and provide the Court evidence that this occurred.  The Judge will subsequently issue an Order dismissing proceedings, and equally bar the creditor from refiling the lawsuit.   

Debt consolidation companies may provide an appropriate solution for your financial issues.  However, creditors are not obligated to accept the amounts they may offer in satisfaction of the accounts outstanding.  Ultimately, if you encounter a creditor that is unwilling to consider their proposal...

The initiation of a lawsuit by a financial creditor will result in creation of a permanent Court record.  So even if you subsequently pay the full balance due, that would not serve to eliminate those details .  Therefore, to preclude that from occurring you will need to either work-out an agreed payment plan or potential discounted lump-sum settlement with the creditor before the lawsuit is even filed. 

The cost of representation varies depending upon the services provided.  However, relative to Bankruptcy, Foreclosure Defense and Debt Settlement, most matters are handled for a flat fee that can be quoted by phone. In addition, we offer payment plans in satisfaction of these costs, and equally partner with ClientCredit, which provides legal fee financing options.   

Social Security and Pension benefits are lawfully protected from garnishment regarding credit and charge accounts, auto loans and leases, pay day loans, medical bills, utility bills and rental deficiencies.  This protection equally extends to any savings that may have been accumulated from such i...

Creditors are not mandated by law to report your account to a Credit Reporting Agency.  Further, they can submit that information to one (1), two (2) or all three (3) of companies,whether TransUnion, Equifax or Experian.  Consequently, whether a particular obligation is itemized on any of your Credit Reports has no relationship to the creditor's lawful ability to collect the balance due, including through initiation of a lawsuit. 

When you co-sign a loan you are guaranteeing payment.  It does not matter if you are the primary or secondary borrower.  Once you execute the finance agreement you become subject to Joint and Several Liability, which means that upon Default the lender can choose to pursue the primary borrower, th...

Anyone is permitted to represent themselves in a pending legal action.  However, in doing so you are held to the same standards as a licensed practicing Attorney.  Specifically, you are not provided any exemption from complying with the Rules of Civil Procedure, Rules of Evidence or Local Court R...

After filing a lawsuit and obtaining a Judgment, which is a Court Order to pay, a creditor has the ability to potentially attach your wages for up to 25% of your net income each pay period until the balance due on account has been satisfied.  Those funds would then be directly deducted from your ...

Creditors have the option of initiating a lawsuit in either a Municipal or County Court depending upon the balance due on account.  The maximum value that a Municipal Court can adjudicate is $15,000.00, so a debt in excess of that sum would need to be pursued at the County level.  n comparison, ...

A common practice among credit card and loan is to sell their default accounts to third party debt purchasers.  This provides the lenders revenue, and the new company can then generate a profit by successfully pursuing the borrowers in collections. Commonly these companies are mistaken for colle...