Credit: Debts & Loans

Credit: Debts & Loans

  • Credit is the privilege to borrow money and obtain goods today based upon a promise to make repayments in the future. Credit is not a right, but merely a privilege that can be lost if it is not used responsibly.
  • The Maryland Job Applicant Fairness Act makes it illegal for most employers to require a credit check for job applicants.
  • Credit Counseling Agencies are nonprofit agencies that help debtors work with creditors to arrange a repayment plan as a means of reducing their debt without filing for bankruptcy.
  • “Debt collectors” are collection agencies, attorneys, creditors collecting for someone else, and creditors collecting under another name as well as others. Creditors collecting for themselves are not “debt collectors.” Under the Federal Debt Collection Practices Act debt collectors may not...
  • To garnish is to take property, most often a portion of someone's salary, by legal authority. Garnishment is a proceeding by a creditor to collect a debt by taking the property or assets of a debtor.
  • There are laws that protect certain income and assets from debt collectors. This is sometimes known as being “Collection Proof” or "Judgment Proof".
  • In 2011, the General Assembly passed a law requiring firms offering debt settlement services to register with the Commissioner of Financial Regulation
  • Buying on credit, over time, is very popular these days. Yet once in a while, a bill has a mistake on it. What can you do when your credit card bill has a mistake?
  • Am I responsible for my spouse's debts even if I did not benefit from the items? My spouse died recently. All of our property was jointly owned. I am receiving medical bills with charges I did NOT authorize. Am I required to pay these bills?
  • Warning signs of a debt problem, what if you cannot pay your bills, going to court and protecting your assets.

Employment

Is this legal advice?

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