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Debt Collection

If you have no job and no assets what can debt collectors do to you?

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Wiki User
2006-02-10 15:07:03
2006-02-10 15:07:03

they can take you to court, remove your unessential furniture - like your tv and hi-fi, they could demand you be declared bankrupt, if it is a government debt or a utility debt they could even arrest you. But even if you have little money, you can offer than

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They can always ASK for payment, but whether they can actually collect depends on many factors. If you have no job and no assets, it would be very hard for them to collect anything.

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No, and generally debt collectors never leave their office.

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Debt collectors can indeed take settlement money from someone if they owe debt. These collectors may take from what they need to.

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To become debt free without assets, you can start by getting a job and paying your bills. Set up a budget and follow it. Be sure to include savings and investments. Do not add any more debt!

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There are sites online that advertise their debt collection business. Some of these Debt Collectors are UK Debt Collection, Debt Recovery UK, Debt Collect and Debt Recovery Plus.

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Click on the link to your right for a lot of useful information about debt collection. can a bill collecter come to your job

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can a debt collector come to your house to collect a debt

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Debt Collectors - 2012 was released on: USA: 1 May 2012

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Debt collector & third party communications:Debt collectors may only contact third parties to ascertain your location/whereaboutsDebt collectors may not reveal to third parties that you owe debtDebt collector may not harass you, or third parties in connection with collecting a debt:Debt collectors may not use threats of violence or harmDebt collectors may not use profane or obscene languageDebt collectors may not repeatedly use the telephone to annoyDebt collectors may not publish a list of debtors (except lists sent to credit bureaus)Unfair and deceptive debt collection practices are not permissible:Debt collectors may not make false implications of government affiliationDebt collectors may not assert false threats of legal action or legal statusDebt collectors may not falsely imply you committed a crimeDebt collectors may not deposit a postdated check prematurelyIt is also a good idea to keep a log of when you receive your bills; that way, when a bill does not arrive on time, you can call the company and inquire into its absence and likely avoid any late fees. If you feel a debt collector has violated the law, you should also take steps to document such behavior

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What is given is: total assets = $422,235,811 Debt ratio = 29.5% Find: debt-to-equity ratio Equity multiplier Debt-to-equity ratio = total debt / total equity Total debt ratio = total debt / total assets Total debt = total debt ratio x total assets = 0.295 x 422,235,811 = 124,559,564.2 Total assets = total equity + total debt Total equity = total assets - total debt = 422,235,811 - 124,559,564.2 = 297,676,246.8 Debt-to-equity ratio = total debt / total equity = 124,559,564.2 / 297,676,246.8 = 0.4184 Equity multiplier = total assets / total equity = 422,235,811 / 297,676,246.8 = 1.418

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The best debt collectors in the world would be International Collection Agency - The Debt Recovery Solution. They are recovery solutions for business and consumers.

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Debt Collectors - 2012 Debt Relief 1-2 was released on: USA: 1 June 2012

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No, credit card debt collectors cannot go after your social security check. Debt collectors are not able to go after your income under the Fair Debtors, Creditors Act.

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There are specific laws in place to protect consumers from harassment from debt collectors. It is illegal for debt collectors to contact you at work if your employer does not allow this. Record all contact by debt collectors just in case you have to take them to court in the future. Also, I advise you to check online for laws in your state that protect you against harassment.

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If the debt exceeds the assets, the assets must be sold to cover the debt. Heirs are not responsible for any remaining debt. Certified letters along with a certified death certificate should be sent to each debtor that can not be paid in full after the sell of assets. In this case there would be no inheritance.

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You should first define "debt collector." Do you mean a collection agency or its employees? If you mean an employee of a debt collector, the answer varies depending upon the region. In the New York City metropolitan area about 98% of debt collectors who work for law firms make from about $550 a week to $1,000 a week. The average is about $700 per week. Debt collectors who work for collection agencies make less on the average. This is a hard, ugly job. I recommend you try to find something else!

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Debt collectors (not the original creditor) is governed by this very nifty federal law: Federal Debt Collections and Practices Act (FDCPA). Sample of FDCPA and Sates see below in the link

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Pennies on the dollar. So when they come after you for the full amount, know that negotiating with them for a lower amount to settle the debt can be lucrative for you. Debt settlement is highly successful and it's the process of negotiating with your debt collectors for a lower, agreed upon, amount to get you out of debt quicker.

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Yes, debt collectors can contact their clients at work. It is best to not provide your work number when you are applying for credit.

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Yes provision of doubtful debt is part of current assets as accounts receivable is part of current assets and this allowance is for short term period.

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No its illegal, you have to pay your debt rather than hiding. If you not paying your debt and hiding from debt they can take you to the court.

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If the partnership go into debt, you can lose personal assets aswell as the businesses assets. A private company's assets can only be ceased if the company go into debt.

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Chapter 13 bankruptcy can help a person by saving them from legal actions from debt collectors. When a person files bankruptcy, all debt collections and lawsuits are stopped so a person can keep their assets like homes or cars.

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Debt collectors can call with a blocked id, the same as anyone else who wishes to remain anonymous and not have their number revealed. A debt collector can not call from a number that has been blocked, however.

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Debt collectors have limits set on the time they can post on your credit report. Try using www.debtconsolidationcare.com/handle-collectors.html to get more information.


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