Sometimes folks get a bill from a debt collector for a debt that is years and years old – so old it is considered Zombie debt! In fact, you may not even remember incurring the debt.

If you have old debts, collectors may not be able to sue you to collect on them. This is because debt collectors have a limited number of years – known as the statute of limitations – to sue you to collect. After that, unpaid debts are considered “time barred.”

The limitations varies from state to state, but in Virginia it is usually 3 years for an oral contract and 5 years for a written contract. But beware, the statute of limitations is an “affirmative defense” if a creditor sues you in court. This means if a lawsuit is filed on old debt, you must show up and raise the defense that the debt is too old. The judge will not do that for you if you fail to show up to court.

The Fair Debt Collections Practices Act bars creditors from collecting on debts that are beyond the statute of limitations. But many tricky collectors are trying to get around that law by reviving old debt and tricking you into waving the statute of limitations. If you voluntarily make a payment on a debt, then the 3-5 year limitation period starts ALL OVER AGAIN. As such, if you think a debt collector is trying to collect on an old debt – DO NOT SEND THEM MONEY. Consult with an attorney on whether the statute of limitations applies to your particular debt and situation.

The article linked discusses the tricky ways some debt collector are trying to revive old debts. https://www.washingtonpost.com/…/zombie-debt-how-collecto…/…

Here at Giles & Lambert, we would encourage you to contact us for a free bankruptcy consultation if you are struggling with debt, new or old. In the event most or all of your debt is old, sometimes filing bankruptcy makes sense and sometimes it doesn’t. Call today to meet with one of our attorneys for a free bankruptcy consultation or advice about whether a debt collector is violating the Fair Debt Collection Practices Act.

On July 1, 2019, one of the many new laws that went into effect concerns the reinstatement of drivers licenses for drivers owing court debt.

Prior to July 1, 2019, for individuals with past due and unpaid court fines or costs, the individual could have been subject to suspension of their drivers license until the outstanding court fine or cost was paid. According to the WSLS news article shown below, prior to the July 1 change in Virginia law, over 600,000 Virginians had their drivers licenses suspended due to unpaid court fines and costs. https://www.13newsnow.com/article/news/local/virginia/virginia-lawmakers-vote-to-end-drivers-license-suspensions-for-unpaid-court-fees/291-30d3c5bb-d0e5-4b86-ac6a-bbc9c2216764

Under the new rule effective July 1, those whose drivers licenses had been suspended due to unpaid court fines and costs will be reinstated without the requirement that a reinstatement fee be paid.  The new law also outlaws future drivers licenses suspensions for a person’s failure to pay his or her court fines or costs. 

While the new law removes the concern a person may have about having his or her drivers license suspended due to having unpaid court fines or costs, the new law does not mean a person is no longer liable for or obligated to the pay the underlying court cost or fine.  According to the Code of Virginia, each court to whom a person owes an unpaid court fine or cost can attempt to collect to recover.  If you are struggling with debt, including court fines, contact Giles & Lambert for a bankruptcy consultation to discuss whether bankruptcy can provide the debt relief you need. 

Suspense was the name of the game for the #21 Outrun Your Debt car during Saturday night’s twin super street races! Driver Wayne Corprew brought home a sixth-place finish in the first race and a fifth place finish in the second race of the evening. Wayne says he and the rest of the #21 racing team plan to make the most of the next two races with the hope of getting the #21 Giles & Lambert car to victory lane

In addition to other race fans, several Giles & Lambert team members came out to cheer on the #21 car. If you need help to outrun YOUR debt, these are some of the faces you may see in our offices if you visit.

Giles & Lambert, P.C. offers free bankruptcy consultations at each of our three offices (Roanoke, Blacksburg, and Martinsville). Racing fan or not, we are eager to meet with you about the possibility of helping you outrun your debt

Roanoke: 540-981-9000
Blacksburg: 540-961-2000
Martinsville: 276-632-7000

OUTRUN YOUR DEBT

Participating in the super street division, the #21 Outrun Your Debt car will race in the Pepsi twin race night on Saturday at the Motor Mile Speedway!  Last Saturday was a rough night for the #21 racing team, but the team has spent the week working on car repairs and enhancements for this coming week’s race. Several members of the Giles & Lambert team are coming to cheer on the #21 car.

This coming Saturday is also military appreciation night at the Motor Mile Speedway, and active duty and veterans are eligible for free admission. Even if you do not qualify for free admission, ticket are $10 for adults with children age 12 and under getting in for free, making this a fun and affordable evening for parents and kids alike! For details about racing times, ticket information, and more, be sure to check out the Motor Mile Speedway’s webpage at https://www.motormilespeedway.com/.

The #21 Outrun Your Debt car had a rough Saturday race night at the Motor Mile Speedway. In addition to spinning out on the next to last lap of the race, the #21 car experienced motor issues that the racing team hopes to address. Despite all the issues, the #21 car finished the race somewhere around 8th place. This week, the Giles & Lambert #21 racing team will be working to prepare the car to return to the race track. 

While we don’t work on cars here at Giles & Lambert, we do offer free bankruptcy consultations with an attorney in each of our three offices (Roanoke, Martinsville, and Blacksburg). If your debt has you off track, contact Giles & Lambert, P.C. today to learn what we may be able to do to get your finances back up to speed.

Saturday night (July 27, 2019), the Giles & Lambert-sponsored #21 Outrun Your Debt car will race again at the Motor Mile Speedway in Fairlawn. Gates open and qualifying starts at 5:00 p.m., driver meet and greet occurs at 6:00 p.m., and green flag will fly at 7:00 p.m. For additional scheduling details and ticket information, check out the Motor Mile Speedway website at https://www.motormilespeedway.com/.

The #21 car races in the Super Street division during which drivers race for 25 laps around the Motor Mile Speedway. Driver of the #21 car Wayne Corprew has brought home the third place trophy in each of the last two races. You may remember that during the last race, the #21 car was involved in a pile-up, which has required additional work from the #21 team. While the #21 car will be ready to race come Saturday, fans will have to stay tuned for updated pictures as the team finishes its final touches for the car.

The goal of the #21 car racing team is to learn from each race of possible ways to improve the car’s speed. For fans of the #21 car, Saturday night is the next opportunity to see if any adjustments and modifications that have been made to the #21 Outrun Your Debt car pay off!

​The Federal Trade Commission today announced a $425 Million settlement to compensate folks whose personal information was exposed in the Equifax breach of September 2017.  If you were impacted, you can file a claim for:• Free credit monitoring and identity theft protection services or a cash payment of $125.00• Cash payments of up to $20,000 per person for expenses you paid as part of the breach.• Help recovering from identity theft• Free credit reports per year starting in 2020

You can determine if you were subject to the breach using the Look Up Tool on the FTC website.  The website lets you determine if you were impacted, and tells you how to file a claim.  Access regarding the information is available at:

https://www.ftc.gov/enforcement/cases-proceedings/refunds/equifax-data-breach-settlement

If you are in a current Chapter 7 or 13, and you are eligible for a settlement, it is critical you let your attorney know so steps can be taken to disclose the settlement to the court and to protect the settlement.  If you are in an active case and fail to disclose your settlement, you could be prosecuted for bankruptcy fraud.  In almost all cases, the small settlements can be protected without an issue if you let counsel know.

Saturday night at the Motor Mile Speedway was filled with excitement for the #21 Outrun Your Debt car.  The #21 car qualified 6th and drew the 9^th starting position. During the race, the #21 car maneuvered to avoid a wreck only to be hit from behind and pushed into another car.  Despite the pileup, the #21 Outrun Your Debt  raced hard for a well-earned 3^rd place finish in the Super Street division! 

This is a picture below of the banged up, post-race #21 car. On the Motor Mile Speedway Facebook page (link below), you can watch a video showing a few moments of the Saturday night racing action (with a gorgeous view of the sunset in the background, too). 

https://m.facebook.com/watch/?v=1484010555073940

The #21 Outrun Your Debt car returns to the track this coming Saturday, July 13, 2019 at the Motor Mile Speedway in Fairlawn, Virginia!  Driver of the #21 car, Wayne Corprew, finished third in the most recent Super Street race that took place on June 29, and Wayne says they have been making further tweaks and adjustments that they believe will pay off this Saturday night.

On Saturday, the racing begins at 7 p.m.  This Saturday night is also Driver Meet and Greet night. https://docs.wixstatic.com/ugd/abd52e_70a18588500b4045b6aebe74de438677.pdf?fbclid=IwAR04sm7iMAKi41CQhQD99dD8rd8Oc_JE8qm9CjeqUsiA5DqOo2tafIL91b8 Beginning at 6 p.m. Saturday, you will have the chance to meet with the drivers before the racing action begins!  As driver of the #21 Outrun Your Debt car, Wayne hopes you will come out to the track on Saturday to meet him and see the car and cheer him on during the race!

Remember, if you’re struggling with bills that just keep coming, Giles & Lambert, P.C. may be able to help YOU outrun YOUR debt!  Call today for a free consultation.

Roanoke: 540-981-9000
Blacksburg: 540-961-2000
Martinsville: 276-632-7000

The Giles & Lambert-sponsored #21 car raced to a third place finish Saturday night at the Shelor Motor Mile! The #21 car came in third in the practice rounds, qualified fifth place, and drew the third place starting position. The #21 car lead the first four laps of the race, ultimately bringing home the third place trophy!

Congratulations to driver of the #21 car, Wayne Corprew, and to the rest of the #21 race car team! While you’re at it, check out the size of that trophy!