LawSmart.com

Q: Can A Creditor Take Legal Action?
A: Creditors can take several kinds of legal action against you. These options are often written into the sales contract.
Q: What is acceleration?
A: Many contracts for debts contain "acceleration" clauses. This clause gives a creditor the right to "accelerate" the repayment when a payment … More
Q: What exactly is repossession?
A: Repossession is when a creditor has the ability to seize the item you bought or the property you used as collateral for a loan. The creditor usually sells the property … More
Q: Can a creditor garnish a debtor's wages?
A: Yes, wage garnishment is a court order that requires an employer to withhold part of an employee's wages and submit that portion to the creditor in order to … More
Q: Can There Be A Negotiation Between Creditor And Debtor?
A: Yes. Reduce monthly payments Refinancing a loan Deferring a payment for a short time Reducing or dropping late charges Paying interest only on the loan until you can … More