The Return of Debtors Prisons

[Tman]

http://reason.com/archives/2010/10/07/the-return-of-debtors-prison

Here is an interesting essay about how debt collectors are abusing the legal system to collect debts

[Freddy03]

Copied from article: "When a judge issues a judgment against a debtor, the debtor is supposed to complete a financial disclosure form that will provide the information a creditor needs to collect his debt. If the debtor fails to do this, the creditor can obtain a court order compelling the debtor to show up in court to explain why he hasn’t. If the debtor fails to show up for this hearing, a judge can issue a contempt of court order and a warrant for the person’s arrest."


You CAN'T go to jail for not paying a debt collector - You CAN go to jail if you fail to respond to a court order.

This is no different then skipping out on child support.

[DYLAN150]

Does the disclosure form show the creditor where your assets are? ( bank accounts, homes, car, boats, stocks, bonds, furniture, toys) Also pay from employer.

[Freddy03]

Does the disclosure form show the creditor where your assets are? ( bank accounts, homes, car, boats, stocks, bonds, furniture, toys) Also pay from employer.

My financial disclosure form asked for - Car information, bank account, mortgage information, work info (including paystubs), and spouse information. It also asked if anyone owed me any money.

[BrokeIn2010]

At what point in the disclosure process do you declare you property exemptions?

[Freddy03]

At what point in the disclosure process do you declare you property exemptions?

I'm not sure in your state but in FL after I mailed back the financial fact sheet I filed out an affidavit claiming HOH. I believe my house is exempted b/c of homestead.

[ryan]

I'm not sure in your state but in FL after I mailed back the financial fact sheet I filed out an affidavit claiming HOH. I believe my house is exempted b/c of homestead.

So you never had to appear at a court hearing and be questioned by a creditors' lawyer?

Thats what can happen in my state.

[Freddy03]

So you never had to appear at a court hearing and be questioned by a creditors' lawyer?

Thats what can happen in my state.

I probably will. I'm hoping to file before then. I just recently sent back the financial fact sheet end of Sept. I'm hoping I'm not going to get into any trouble b/c I forgot to attach my car registrations, paystubs, bankstatements, etc.

I just filed it out.

[GoingDown]

My financial disclosure form asked for - Car information, bank account, mortgage information, work info (including paystubs), and spouse information. It also asked if anyone owed me any money.

In my case, if asked for such info, I would respond
car: 1993 Ford (worth less than the $5000 exemption for vehicles according to Kelly Blue Book values)
bank account: NONE
mortgage: NONE (I'm a renter)
employer: NONE (I only do temp jobs which are not worth the time, effort and money to garnish because they end quickly)
spouse: NONE
Does anyone owe me money: NO

And after the attorney got that info, I think they would lose all interest in me because it wouldn't be worth their while to come after me.

[Freddy03]

In my case, if asked for such info, I would respond
car: 1993 Ford (worth less than the $5000 exemption for vehicles according to Kelly Blue Book values)
bank account: NONE
mortgage: NONE (I'm a renter)
employer: NONE (I only do temp jobs which are not worth the time, effort and money to garnish because they end quickly)
spouse: NONE
Does anyone owe me money: NO

And after the attorney got that info, I think they would lose all interest in me because it wouldn't be worth their while to come after me.

Yes it looks like you are in the clear.

Me - not so much...LOL