answersLogoWhite

0


Best Answer
Copy

Yes. A charge off does not mean the debt is not valid and fully comllectible. Collectors will first attempt to recover the monies owed by traditional means, telephone and written correspondence. If such action is not successful the collector has the optin of retaining an attorney licensed in the debtor's state to pursue a lawsuit. A few major collection law firms (Mann-Bracken is one) are licensed to arbitrate rather than follow traditional procedures of filing a lawsuit in the state where the debtor resides. The best option when faced with legal action is to obtain advice or representation from a qualified attorney.

2006-07-28 14:50:41
This answer is:
πŸ€“
🀯
πŸ€”
User Avatar

Your Answer

Loading...

Related Questions

If a mortgage company goes bankrupt can the company that bought them out legally collect on your old debt?

Yes.


Limit to how long collectors can legally collect your debt in Ohio?

In the state of Ohio, collectors can legally collect your debt for up to ten years. The collection process can range from telephone calls to wage garnishment.


If you already paid a debt can a collection agency legally continue to try to collect the debt?

Not as long as you can prove you paid it.


With whom can collection agencies discuss your payments?

Legally, only you and the company employing them, oh and the government.


Can a company legally collect overpaid wages that were paid at the fault of the company?

Yes, if the mispayment was an error then they are entitied to make the necessary corrections.


Can a debt collection agency legally identify themselves a 'collection agency' when placing inquiries on your credit report when the debt in question was charged off over a decade ago?

No.


Can a debt collector legally come to my home or workplace?

Can a loan company come to your home to collect payment? Personal Loan...


Can you get charged for cheating?

Legally, no.


Can a collection agency collect on a debt that is past the statute of limitations?

There is a federal law entitled the FDCPA. Any time you have a collection question you should search for the answer there first. An agency can attempt to collect the debt that is out of statute but they have no way of legally enforcing payment. Many times a person will pay an outstanding bill when its out of statute because they are not aware there are statutes of limitations. Sometimes a bill collection company will not even know that the statute tolled on the debt. Many times the client does not give the agency proper information purposely or by accident.....


Are adult beneficiaries responsible for deceased parents debts?

No, you are not responsible for their debt. The only person legally responsible for a debt is the person that signed the contract for the debt. It doesn't matter if your dead parents left you money. Collection agencies cannot legally collect someone else's debt from you - but they will try. See the FDCRA to know your rights in debt collection.


What is the chance of being sued for a outstanding credit card balance under 700 that he credit card company has already charged off?

Who would sue you? If it is charged off the CC's have given up because it is not worth their time or money. but it could be sold to some collection crooks that will tell you that they will come after you. If it was wrote off they can't legally collect it, but they are known to LIE and if you make any kind of payment you could again start the whole thing over. Chances are the statues of limitation have run out and then it is noncollectable by any one unless you pay on it.


If the collection agency amount is more than the creditor amount which amount do you legally have to pay?

A collection agency legally require the amount of the debt, plus any other charges/penalties incurred in the collection of the debt.


Can a company legally assess a chargeback fee against a consumer?

If you're talking about a credit card charge you disputed with the credit card company and the credit card company determined the dispute in your favor generally no. The other question you have to ask yourself however is if you received a good or service in exchange for what you charged to your card? Just because the credit card company determined the dispute in your favor and charged back the company, they don't lose the right to sue you or send you to a collection agency for a good or service you received. If the company sues you in court, they may be awarded the chargeback fee in addition to the amount owed in order to cover all damages that you caused them.


Who is legally responsible for debt the holding company or the limited company?

I think clients and public who did business with company or with company products are directly responsible legally.


What can a president or vice president be charged with under the constitution?

They can be charged with anything anyone else can be charged with. Legally speaking, they are in no way above the law.


Is hindustan infracon India limited company is registered legally by govt of India?

Hindustan infra is a legally company


How do you legally answer a lawsuit for debt collection?

Please see attached link.


A maximum amount that can be legally charged for a good or service?

price ceiling.


How long does it take for a debt collection agency to collect a debt?

A debt collector can attempt to collect on a debt for as long as she wants. She cannot, however, bring legal action against you once the statute of limitations has expired. At this point, she may still attempt to contact you by phone and written correspondence, but that is legally the extent of the actions.


Is an individual required to give their birth date to collection agencies?

No. You are not legally required to supply any information to a collection agent or agency.


Can you legally be sent to collection if you have been paying on a bill every month on time?

NO


Can you still be charged with bigamy after you divorce one wife?

Yes. If you married someone while you were still legally married to another person you could be charged with bigamy depending on the laws in your jurisdiction.Yes. If you married someone while you were still legally married to another person you could be charged with bigamy depending on the laws in your jurisdiction.Yes. If you married someone while you were still legally married to another person you could be charged with bigamy depending on the laws in your jurisdiction.Yes. If you married someone while you were still legally married to another person you could be charged with bigamy depending on the laws in your jurisdiction.


How long must a debt be in default to be legally charged off?

7 YEARS


Can a creditor or debt collection agency access your business bank accounts for debt collection?

With a judgment and execution, the sheriff can. Without it no. But the collection agency can never legally access it. However, there are ways to do it illegally. Can the creditor do it... ? If you have a citizens acct and a debt with them, then yes, they can legally access whatever accounts you have with them. But a creditor can't just get access to you bank accounts. (I own a collection agency)


Can you legally collect railroad spikes?

The short answer is no you cannot legally collect railroad spikes. Since 9/11 the railroads have been a lot more concerned about who is on, or around their tracks. The best way to get used spikes is to contact the railroad and get permission.