When Gd takes something from your grasp, He’s NOT punishing you, but merely opening your hands to
receive something better.

Concentrate on this sentence… ‘The will of Gd will never take you where the Grace of Gd will not
protect you.’
Something good will happen to you today; something that you have been waiting to hear.

This is not a joke; someone will call you by phone or will speak to you about something that you
were waiting to hear. Do not break!

Send this to a minimum of 3 people… But, not before you read below

There comes a point in your life when you realize:

Who matters,
Who never did,
Who won’t anymore…
And who always will.
So, don’t worry about people from your past,
there’s a reason why they didn’t make it to your future.
Send this to everyone you don’t want to lose in 2010
Including me, if that’s what is in your heart.
Try to collect 8 ; it’s not easy!

There are two types of law, State Laws and Federal Laws. Every State will have their own rules with regard to debt collection so it is best if you read up on your local ones. Your bank or financial institution will be able to provide you with a copy of the relevant laws. There should be a statute of limitation which will dictate how long your creditors have to file a lawsuit to recover their money.

This does vary but usually lies within 3 to 10 years but you should check. Federal laws apply to everyone regardless of where you live. The law you are probably now most interested in will be the Federal Fair Debt Collection Practices Act. This law covers how your creditors must behave when attempting to collect monies due. It also dictates where and when lawsuits can be filed if you live in a different state to your creditor. Another act you should familiarize yourself with is the Credit Card Reform act. Depending on your age and circumstances, you may find that some of these provisions are relevant to your case.

If you are having problems repaying your debts, make an emergency appointment with a local debt counseling service. You should be able to find a free adviser in your area such as one provided by a charity. If possible avoid the paid debt negotiation advisers as any spare funds you have should be directed towards repaying your creditors. Your adviser and the people you owe money to will want to see a full income and expenditure account. You will need to write down exactly how much money you make from all sources and what you spend this money on. Some debts are a priority meaning that you should always pay these first but your adviser will go through this with you.

Whatever you do, do not ignore the situation you are in. It will only get worse. All credit card debt problems can be resolved one way or another. Bankruptcy is always an option although one you do not want to enter into lightly and definitely not without proper advice.

Suing you isn’t your creditors’ only option. They could sell your debt onto a third party company who won’t care what your personal circumstances are. But if you have had a good record with your bank and your money problems are recent, you may find that they are willing to work with you to reach a solution.

So now you know the answer to can you be sued for credit card debts is yes, you need to do everything you can to avoid this scenario.

I have been working on a new VERY COOL project… its called My Custom Web App. So far everyone that has seen it is blown away and wants one!  So I know … I am onto something big here..bout time huh lol  If you want to check it out go to www.MyCustomWebApp.com .. more soon…promise:)

Hi, Rich Stevens.

Warren Buffett is now following your tweets on Twitter.

A little information about Warren Buffett:
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