Gurstel is one of the larger collection law firms in the US. They are hired by large banks to collect on unpaid credit cards and personal loans. Debt buyers often hire the Gurstel law firm too.  Like most law firms collecting on unsecured debts, they sue in court, and fairly quickly, after an account is […]

Jefferson Capital is one of the largest debt buyers in the US. They will settle accounts for less than what you owe based on the criteria I cover in this video. They can be aggressive with collecting through the courts, but you can prevent that by being proactive. You do not always need a lump […]

Ondeck Capital offers higher balance business loans that can be one of the first things you may have to skip payments on when business is slow. They have some options to lower your payments, and they also approve settlements for less than the loan balance if you meet their criteria. Learn about your options with […]

Zwicker and Associates is one of the largest collection law firms in the Unties States. They get their collection accounts from American Express, Discover, US Bank, Sofi and several others. Like other collection law firms, they sue… a lot. I find negotiating with them prior to them suing often provides a good settlement outcome, where […]

Watch this video to learn the right questions to ask any debt settlement service provider about how they will reduce or eliminate the risk of you being sued for collection. Settling debt without aggressive debt collection is not only possible, but also probable when done strategically. SHARE THIS VIDEO: https://youtu.be/RAOV4Jl5fAk SEE RELATED VIDEOS: https://youtu.be/TuLSfaAOogs ∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷∷ […]

How you approach resolving a debt with a collection attorney can vary depending on the creditor and law firm involved, the balance owed, how collectable you look, and your ability to raise cash now, or over a period of time. I also cover affordable tools and support available to you from different sources if you […]

Some of us that settle our debt for less than what we owe will quickly learn that the IRS treats forgiven debt as taxable income. In the prior video I just published I talked about how some of us will be able to avoid that tax all together with IRS form 982: https://youtu.be/49cqm3KXL3U In this […]

The IRS treats any debt you settle for less, where you save more than 600 dollars, as taxable income. You get a 1099c from the creditor you settled with the following January after completing your settlement the year prior. Not everyone will owe taxes on settled debts. There is an insolvency test the IRS created […]

Debt collectors make calls to your family, friends, and neighbors. What gives them the right to do that? How can you stop them from doing that? What about collection calls to your work? I cover simple steps you can take to prevent these, and how to take action if the collectors screw up. Here is […]

For the last couple of years, I have been watching the number of debt collection lawsuits climb higher and higher. We have reached a point nationally, where I am far less likely to recommend do it yourself debt settlement to people who need to juggle multiple creditors. This is nuts, as that has been my […]