Reading some of these posts, I wonder what the opinions are as far as which state is best to live in with respect to dealing with creditors/collection agencies/credit reporting agencies? And would it make any sense to "move" (i.e., rent a box with a forwarding service) to one of these places to take advantage of favorable laws? Is this possible? Opinions?
I'd guess you'd want to find states that - exempt homes from levy - exempt wages from garnishment - have short SOL's on judgments / renewals - have more favorable consumer law than that provided by the FDCPA, FCRA, and FCBA
Judging by what the Collectors complain about, Texas gets my vote. Some CA's won't even bother suing a Texas resident.
Well, I am from Texas, but am currently living in Virginia, where I am a student (I also work). But so long as I am a Texas resident, which I am entitled to remain as a student, I figure I could get a box with a forwarding service, and continue to utilize Texas law. Very consumer friendly...does anyone know of anything I might be overlooking?
Personally I think it's a great idea. One thing to watch out for, though, is that many creditors will now match up your home phone to your street address. No match, no credit. Something to think about. If you have any relatives in TX, likely they could help with this aspect.
I've read that New York residents only have to wait 7 years instead of the requisite 10 years for removal of a BK-7... not sure if this is true, though. Mr. X
This is my understanding of NY Consumer Law (note: I'm not a lawyer!) BK 7 = 10 years from filing BK 13 = 7 years from filing (if discharged) Satisfied Civil Judgments = 5 years from date paid Paid collection accounts = 5 years from original DOD
Not true any more. FACTA pre-empted all state FCRA statutes. It's 7 years for CH13 and 10 years for CH7 nationally.
Re: Re: Best State for Dealing with Credit? Is the same also true for the other provisions of NY State law ie: 5 years for paid judgments and collection accounts?
Re: Re: Re: Best State for Dealing with Credit? FACTA pre-empted all facets of state law that vary from FACTA.
Re: Re: Re: Re: Best State for Dealing with Credit? Thanks for the information Flying One more question - Does this apply to existing TL's before the effective date of FACTA or only to TL's added after the effective date? In other words, if I lived in NY and had a paid judgment scheduled to come off in 2005 because 5 years had passed from the date paid, will it now be scheduled to come off in 2007? thanks again
Re: Re: Re: Re: Best State for Deal First of all, please tell me explicitly why you feel texas is the state. 2) This is what i've been trying to get at for the past few months---hence my "refuge" to N.Carolina----10 yr. NON-renewable judgements, NO wage garnishments(i think, but not sure House is safe) etc. etc. 3) which do you feel a CA would be less likely to sue, a state w/ a renewable judgement or one w/out?
