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Criminal Action For Owing Money?

By Author: Jack Jones Jack
Total Articles: 6

Debtor’s prisons are outlawed in the United States, and debt collectors aren’t even permitted to threaten you with criminal suits for not paying back the cash you owe, so how is it that a Texas resident, Paul Aker, was arrested for owing $1,500 in student loans. What really happened was that he was called to court over it, and when he didn’t show up for court, an arrest warrant was created. Still, it seems like a nominal amount of money to go to the lengths of arresting someone over. All the same, there are reasons why you should stay on top of your bills and make sure you are making payments.

Legality of court-related debts

There are more lawyers than are needed right now and more debts owed than people care to admit, which is part of the reason why there are whole law firms dedicated to turning civil cases over money that needs to be collected into criminal ones. According to Nerd Wallet, bill collectors are filing lawsuits to get money from people who owe it, and when people don’t show up in court, a default judgement is made. At least 90% of the time, people don’t show up in court like they are supposed to, which turns the whole thing into a much bigger ordeal than you though it would be. These kinds of court cases can be over any kind of money owed, including student loans, credit cards, or even your utility bills. Whatever the case, it is wise to stay on top of your bills to avoid these types of situations, even if they aren’t completely legal.

Consolidate your bill

One of the best ways to help yourself if you are struggling to make your payments and owe a lot of money to different people is to consolidate your debt. The basic idea is that you get one loan to pay off all the rest, and then you make monthly payments on that one loan until it is paid off. With an easier way to pay off the money you owe, it is a lot less likely you are going to end up dealing with court over it, and you’ll end up owing nothing when all is said and done.

Author

Jack is renowned for various finance related articles. He expertise in debt, mortgage and insurance article and have various published works in other networks. You can know more about debt consolidation from his articles here - http://firstchoicecm.com/your-options/debt-consolidationoptions/

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