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Write a letter requesting verification and validation of the debt (proof that you owe this debt, that you are liable for paying it, that it is legitimate). Ask when the account was last allegedly used by you. 13 years is far past the reporting time period for this account to show on your credit report and way beyond statute of limitations to be sued to recover the money (unless the debt results from child support obligations, unpaid tax liens or federaly guaranteed student loans). Your questions would most likely alert this company that you are aware their dunn has no "teeth". While it is true that if you have not paid this debt, you still owe it; there is little they can do to collect from you (other than send a letter).
What else can I help you with?
What is the recourse for an employee that has not received a w2 statement?
If an employee has not received their W-2 statement, they should first contact their employer's payroll or human resources department to request a copy. If the employer cannot provide it or is unresponsive, the employee can reach out to the IRS for assistance by calling their toll-free number or using Form 4852 as a substitute for the W-2 when filing their tax return. It's important for the employee to keep records of their attempts to obtain the W-2 for future reference.
What are the rights of an accountant?
Accountants have several rights, including the right to fair compensation for their work, the right to professional development and continuing education, and the right to work in a safe and ethical environment. They also have the right to maintain confidentiality regarding client information and to advocate for ethical practices within their profession. Additionally, accountants can seek recourse through professional organizations if they face discrimination or unethical treatment in the workplace.
Do you pay income taxes on rental forclosed property?
Possibly. It depends on your basis, how much depreciation you have claimed, whether the loan is recourse or non-recourse, and whether the bank is canceling the unrecovered balance of the loan. A foreclosure is treated as if you sold the property to the bank. On a recourse note, it is treated as if you sold the property for the fair market value at the time of foreclosure. On a non-recourse note, it is treated as if you sold it for the balance of the loan. (I am assuming the loan balance is more than the value of the property, otherwise you would have just sold the property and paid off the loan, right?) On a recourse note, if the bank decides not to pursue a deficiency judgment against you, then the cancelled debt (the difference between the FMV and the balance due) is taxable ordinary income (unless you meet the insolvency or bankruptcy exceptions). You'll also need to recapture depreciation, just like on an ordinary sale. Unlike a homeowner whose personal home is foreclosed upon, you will be able to claim a capital loss.
How long does a third party collection agency have to collect on a debt after the debt is charged off by the original creditor?
There is no time limit placed on their collection efforts to collect a debt. However, there is a SOL for legal recourse and for how long it can report on your credit reports. Reporting time is 7 years and so far as the SOL for legal recourse you would have to check your state laws to see how long.
How do you write a letter to hold cheque?
If you have written and signed this cheque and given it to someone to pay for something then, in most countries, it is not lawful to hold payment on the cheque. If you have a problem with what you have purchased then the law of contract or consumer protection laws are your recourse.
What recourse do I have if a car dealer did not reveal flood damage?
The recourse that a person has for dealer withholding pertinent information on a car purchase will depend on the state in which the sale of the flood damaged car took place. Each state has its own rules regarding the sale of motor vehicles.
Is a car loan considered recourse or non-recourse debt?
I think is non recourse debt
What is recourse funding?
Recourse funding is a type of loan for which collateral is placed. The difference between recourse and non-recourse funding is that in recourse funding, if the collateral sells for less than the amount left on the loan, the lender can go after other assets. In non-recourse funding, the lender would have to absorb the loss.
What is the duration of The Recourse to the Method?
The duration of The Recourse to the Method is 2.73 hours.
Is a home improvement loan a recourse loan?
no. why would it be a recourse loan
Is Alabama a non recourse state?
As of 12/20/2012 Oklahoma is a Recourse State.
Is Kentucky a Recourse or Non-Recourse or One Action state?
Kentucky is a recourse state, allowing the lender to seek judgments and damages from the borrower.
Can you give a sentence for recourse?
A place to find recourse is in nonfiction books in the library.
Is Florida a non recourse loan state.?
Florida happens to be a recourse state.
When was Diverse Recourse created?
Diverse Recourse was created on 2007-04-10.
When was The Recourse to the Method created?
The Recourse to the Method was created on 1978-05-05.
How do you use the word recourse?
Since he was fired from his job, his only recourse was to go home.
