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You probably know that I am a big believer in filing a counterclaim. As I mention in the featured question section this month, having a counterclaim gives you some very important control over the lawsuit itself and whether you get sued or harassed again by the same, or a different debt collector.
There is also another reason relating to your life after litigation: Repairing your credit after the lawsuit.
You've heard about having rights to a fair credit report. Here, in plain English, is a list and explanation of your most important rights under the Fair Credit Reporting Act (FCRA). Download a copy of the Fair Credit Reporting Act.
If you have debt troubles, can bankruptcy help? It seems like it should be able to, but in fact there are big limitations. This video discusses some of the pros and cons of bankruptcy.
When people are being sued for debts, they often panic and look for the quickest, easiest, or least scary way out. And bankruptcy often occurs to them as the solution. I believe there are often much more effective ways to handle old debt, especially credit card or merchant account debt that has been sold to a debt collector, than bankruptcy. Panic is not necessary, and bankruptcy—at least at first--is seldom the best solution in a real-world sense. Here's why.