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Can a third party collection company win a judgment legally after the the sol is up?
Yes, under the right circumstances even a debt that is generally considered out of statues can have a legal action and judgment obtained.
The general way that most firms accomplish this is by doing everything legally required to notify the debtor of the suit and they fail to appear in court which awards a default judgment to the plaintiff. As it is not the responsibility of the courts to make an argument on behalf of a party to the matter. However, you can challenge a default judgment and its best to do so under a failure to service, but understand if they law firm can prove they did what was "legally required to notify the parties to the matter" then the point of the limitations is moot since you failed to appear to make that argument.
There are a few other ways to bring the paper back to life in court, the favorite I saw before was the accidental misapplied small payment made to the account prior to the suit being filed. The best soultion is to be responsible and always pay your bills.
What else can I help you with?
How do you sell a judgment?
You can contact a 3rd party company. They will then either purchase the judgment from you, paying you a percentage of the amount owed on the judgment and they then become the owner of the judgment. OR you can contact a collection agency and they will attempt to collect on the judgment and will take a percentage of what they collect, IF they collect anything. Most collection agencies seem to take months upon months before they collect anything and sometimes even tell you "Sorry, we couldn't collect for you." A good way to get an idea of the process is to go to Google, type "judgment buyer" in the search field. You will get alot of companies. Read through the websites carefully and find out their procedures. I just used floridajudgmentbuyer.com and had no problem at all. But, that's just my experience. Good Luck!
Can creditors legally sell your debt to another party?
Yes, creditors can legally sell your debt to another party, who then has the right to collect the debt from you.
What is the difference between a judgment and a lien on your credit report?
A judgment on your credit report conveys the decision of a court concerning a lawsuit. Amounts owed to the creditor are described in the judgment. A lien on a credit report expresses the legal right of one party to keep possession of property belonging to another party.
What happens if a company refuses payment for goods or services rendered?
If a company refuses payment for goods or services rendered, the other party may take legal action to recover the owed amount. This could result in a lawsuit, court judgment, or other legal consequences for the company that refused payment.
Can spouses be held finanancely responsible for other spouses judgment?
Only those listed in the judgment can be held accountable. If the creditor motions for the court to hold another party responsible, and sufficient reason is given, say the other party has possession of property that is security against the debt, then it is possible. At that point the other party can be added to the judgment and help responsible.
Judgment Assignment?
Judgment Assignment(Download)________________, referred to as JUDGMENT HOLDER, and _________________, referred to as ASSIGNEE, agree:On ________________________, JUDGMENT HOLDER recovered a judgment against _________________, in the _________________, case number __________________, in the original principal amount of $_____ (__________________ & ___/100 dollars).JUDGMENT HOLDER assigns said judgment to ASSIGNEE without recourse or guarantee of payment.JUDGMENT HOLDER agrees to execute any further documents which may be required to perfect this assignment.Dated: ______________________________________________________________ Judgment Holder_______________________________________________ Assigneecc Party against whom the Judgment is heldJudgment AssignmentReview ListThis review list is provided to inform you about this document in question and assist you in its preparation. We recommend you copy the party whom the judgment is held against to help promote collection. This is a strictly tactical decision based on the strategy worked out between the Judgment holder and the new Assignee.1. Make multiple copies for your records.
Can a company legally record phone calls?
Yes, a company can legally record phone calls as long as at least one party involved in the call gives consent to the recording.
What happens after a judgment is entered against you in small claims regarding a rental property?
The prevailing party (judgment creditor) may collect on the judgment. You may be summoned to court to tell about your assets, garnishment may be started, or other lawful means of collection may be used, at the judgment creditor's discretion.
How do you sell a judgment?
You can contact a 3rd party company. They will then either purchase the judgment from you, paying you a percentage of the amount owed on the judgment and they then become the owner of the judgment. OR you can contact a collection agency and they will attempt to collect on the judgment and will take a percentage of what they collect, IF they collect anything. Most collection agencies seem to take months upon months before they collect anything and sometimes even tell you "Sorry, we couldn't collect for you." A good way to get an idea of the process is to go to Google, type "judgment buyer" in the search field. You will get alot of companies. Read through the websites carefully and find out their procedures. I just used floridajudgmentbuyer.com and had no problem at all. But, that's just my experience. Good Luck!
Do you have to give your birthday to collection agencies?
No. You are not legally required to give any personal information to a collection agency. It is never wise to allow a third party collector access to your personal financial information, especially bank accounts. Some collectors will try to intimidate you into doing so, however you are not legally required to do that either. And you shouldn't.
What if your cousin tells you that his trucking company has resorted to arbitration with the truckers' union. what does this mean?
that a third party will impose a legally binding decision
What is memorandum of judgment?
Memorandum of judgment is a brief summary or outline of a judgment which specifies the name of the court that entered the judgment, date, amount, name of the party in whose favor and name of the party against whom entered.
What is a first party Collection agency?
That's the original creditor's "in house" collection department. They are NOT subject to the FDCPA as are 3rd party collection agencys.
If I sign an acknowledgement of assignment of judgment am I giving up my right to collect?
If you are the 'creditor' of judgment and you sign for a third party to collect, then YES, your right to collect is given up. Because once that is signed you just signed over your judgment over to the third party, and it is considered THEIR judgment now. BUT you will still get your money judgment from the third party.
How do you sell a car that is still financed to a provate party?
Legally you can't ! The car belongs to the finance company until it's paid off !
Is a court appointed party who conducts a private trial and renders a judgment?
A ___________ is a court-appointed party who conducts a private trial and renders a judgment
What does it mean when your credit report states that you have a paid closed collection account on you credit report?
The original account with a normal credit company went to a third party collection agency. Only after it went to the collection agency was the debt paid and then the account closed.
