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Crushing Debt Podcast

The Crushing Debt Podcast is for people who want to eliminate the financial bullies in their lives. It is for listeners who want more money at the end of the month, rather than more month at the end of the money. The podcast provides answers around such topics as real estate litigation, partition, quiet title, chapter 7 liquidation, chapter 13 reorganization, and Chapter 11 business bankruptcies, short sales, loan modifications, creditor harassment and other related topics.
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Now displaying: Page 1
Feb 17, 2022
The ability to bluff makes you a good poker player, may make you a good negotiator, but may not help you resolve your debt with your creditors.

Who is "Judgment Proof" or "Uncollectible"?

In July 2018, I posted a blog titled "Bluffing Your Creditors? Debt Settlement Ain't Poker." You can find that post here: Bluffing Your Creditors? Debt Settlement Ain't Poker | Florida Bankruptcy Lawyer (yesnerlaw.com)

In the blog post, I advocate that if you have facts or circumstances that show the creditor that you are "uncollectible" then you should be 100% open and honest with the creditor - there's no need to bluff when you have nothing the creditor can collect; there's no need to bluff in debt settlement when you have the winning hand!

What are some of those factors:

  • Exempt Assets (like FL Homestead, 401k, IRA)
  • Head of Household Wage Exemption
  • Unemployment
  • Assets that are fully encumbered or leveraged by debt
  • Income that is exempt (like social security or disability)

When is bankruptcy a good option versus doing nothing at all?

When is settlement of the debt a good option and under what terms - lump sum or over time?

One way to support the Crushing Debt Podcast is to support our sponsor Sam Cohen of Attorneys First Insurance. You can support Sam by referring a new attorney or title company that you know, that needs professional liability insurance to Sam@AttorneysFirst.com or www.AttorneysFirst.com

Please also visit our website to read the blog that inspired this post, and for further information at www.YesnerLaw.com

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