Like pesky mosquitos, I am seeing more and more debt collection lawsuits that are being filed by junk debt buyers where the total amount being sought is less than $1,000. And while a thousand bucks is a thousand bucks, in the realm of civil lawsuits it is an incredibly low amount for a debt buyer to file a lawsuit over.
On today’s show I discuss three strategies for making these annoying lawsuits go away for relatively little money. I also discuss:
- Is it necessary to hire a lawyer to fight back
- The importance of knowing the “rules of the game” if you represent yourself in court
- Why it is never about the “principle” and is always about the money
- Whether or not bankruptcy is a good way to deal with these types of lawsuits
- Tactics on getting the lowest settlement possible
I also introduce a new mini-segment I would like to start on the podcast of sharing with you different books, apps, or other resources I use to educate myself on money, investing, budgeting, and generally becoming more money smart. Today I share my thoughts on a book I am reading by self-help coach Tony Robbins entitled MONEY Master the Game: 7 Simple Steps to Financial Freedom. This is a great book on helping you to learn the “rules of the game” when it comes to investing your money. I have found it to be a book with a lot of actionable information but presented in a way that people who are new to investing – and those who don’t have a lot of money to invest – can still learn the ropes and get started down a road that will make financial futures much more secure.
Are you working on settling your debts? Check out this video on 4 Keys to Successful Debt Settlement –
Image Credit: TonyRobbins.com
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John Skiba, Esq.
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