Q&A Regarding the handling of debt.


Man, Person, Money, Big, Fifties, Bag

Everyone would get and stay out of debt if it were that easy.
However, with the current outstanding consumer debt at nearly $3 trillion – there are definitely some problems. 

Common Questions Regarding Debt

Question: Is it wise to borrow from my IRA or 401k to pay off debt?
Answer: By looking for the money to pay off debt, you ignore the reason you’re going into debt. It is highly suggested to fix your current problems before looking for a final solution to your debt.
Question: A former spouse was assigned specific debts during our divorce but has not paid them and is ruining my credit? What should I do?
Answer: As a joint owner of an account creditors have the legal right to attempt to collect debt owed from you. Not to mention that the charge-off of the debt will remain on your credit report. It would be best to contact your attorney and ask about having your ex held in contempt for not obeying the divorce decree.
Question: Can my Social Security benefits be garnished?
Answer: Banks are required, by the U.S. Department of Treasury, to protect federal benefits from being garnished. However, the federal benefits must be directly deposited into the bank account and the protected amount is restricted to the total of two previous months of benefits deposited prior to the garnishment order.
Question: After my fiancée and I are married will her creditors seek me for her bills?
Answer: The sole responsibility of any debts accrued is of the owner of the debt after marriage. If you share a joint bank account with her and her creditors sue in court, then it is possible that the funds can be garnished from the bank account.
Question: How do I protect my credit if I co-signed a loan for my relative and he has stopped paying what is owed?
Answer: It will likely be in your best interest to make payments on the loan. As the co-signer you have a responsibility towards the loan and can collect from you.
Question: My debt is past the statute of limitations. Why is it still being reported on my credit report?
Answer: The statute of limitations varies on what kinds of debt and debt by state. Regardless, it has nothing to do with the reporting your credit.



Clearwater Debt Collection Attorney


Marcadis Singer, PA

Florida Collection Attorney

5104 South Westshore Blvd.

Tampa, Florida 33611
info @ marcadislaw.com

(888) 547-1881

(813) 288-1881

New Clients 

Ext. 247 Gil Singer

Ext. 240 Ralph Marcadis
Existing Client Client Liaison

Ext. 242

To Pay a Claim

Ext.  245


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