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There is no statute of limitations on collecting a bad debt. If you owed the debt in 1993 and never paid it, you still owe the debt.
A judgment has a statute of limitations that is set by both the federal Fair Credit Reporting Act and laws of the state in which you live, or the credit (or collection agency) does business "...whichever is longer". There are circumstances under which an 11 year old debt could be both reported on your credit, collected and filed suit on. If you suspect the statute of limitations has expired; it gives you a cause for disputing the credit report entry and a defense to the judgment.
What else can I help you with?
How do you know if you have debt in collections?
You can know if you have debt in collections by checking your credit report, receiving collection notices from creditors, or being contacted by debt collection agencies.
How can I request a debt validation letter from a collection agency?
To request a debt validation letter from a collection agency, you can send a written request within 30 days of being contacted by the agency. In your letter, ask for proof that the debt is valid and provide your contact information. Keep a copy of your letter for your records.
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
I settled a debt for less than owed now I am being contacted by a debt collector for the remaining amount but original company won't send a confirmation that the debt was settled-what can I do?
You need to contact a lawyer right away. Mention to the initial company that if they do not provide proof of payment and a letter showing that the debt was settled that you will initiate a law suit against them. If they told you verbally that this is what was going to happen then you may still have to pay the amount. For more information on mortgages go to www.lowmortgageraterefinance.us
Where can one find a debt management consultant?
A debt management consultant can be contacted through the website for CredAbility. This company operates in the Georgia, Florida, Mississippi and Tennessee area. A similar service is provided by DebtGuru.
How do you know if you have debt in collections?
You can know if you have debt in collections by checking your credit report, receiving collection notices from creditors, or being contacted by debt collection agencies.
If a debt collector has never sent you a written notice about a debt can you still be sued for the debt?
Technically the collector should have sent you some form of documentation regarding your debt. Although with lawyers and the court system today nothing is definite. Perhaps it got lost in the mail? I would not bank on the fact that just because you were not sent a document does not mean you can't be sued. If you have talked with the debt collector on the phone this can be used as a form of communication in a law suit. I would recommend keeping track every time you were contacted by a debt collector. Here is a good article on debt collection and your rights that might help also. http://hubpages.com/hub/Debt-Collection
How can I request a debt validation letter from a collection agency?
To request a debt validation letter from a collection agency, you can send a written request within 30 days of being contacted by the agency. In your letter, ask for proof that the debt is valid and provide your contact information. Keep a copy of your letter for your records.
Who are the best debt settlement attorneys in New York City?
In New York City there are numerous attorneys available for debt settlement. The top three listed attorneys or groups are: Michael Levitis, who can be contacted at levitislaw.com. Brooklyn Debt Settlement, who can be contacted at brooklyndebtsettlement.net. Waltzer Law Group, who can be contacted at waltzerlawgroup.com. Brooklyn Debt Settlement group offers an analysis of your situation right at their website and the Waltzer law group offers you a phone number to call that provides the same service.
If a debt on your credit report says 'bad debt write off ' can the creditor still sue you or collect the money?
= If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action.
What happens if the second mortgage lender hasn't contacted you on a reaffirmation of a loan after a chapter 7?
Nothing happens, the lien still exists- and the 2nd lender can still foreclose if you stoip making payments. The bigger worry is why you would WANT to reaffirm a mortgage debt!
How can you find out who you originally owed if a debt collection company is now collecting?
After being contacted by a collection agency you have thirty days to request confirmation of the debt. Their response should include the balance owed and the place where the debt was originally incurred.
Are bad debts that are written off taxable or not?
"Written off" does not always (usually) mean a debt is not still collectible. The term "forgiven" indicates that the creditor no longer considers the debt valid. When a debt is forgiven the debtor will receive a 1099C from the creditor/collector and a copy is sent to the IRS.. The debt is then considered income and must be reported on the debtor's tax return as such.
I settled a debt for less than owed now I am being contacted by a debt collector for the remaining amount but original company won't send a confirmation that the debt was settled-what can I do?
You need to contact a lawyer right away. Mention to the initial company that if they do not provide proof of payment and a letter showing that the debt was settled that you will initiate a law suit against them. If they told you verbally that this is what was going to happen then you may still have to pay the amount. For more information on mortgages go to www.lowmortgageraterefinance.us
I have a lot of debt can I still get Medicaid?
Debt is not an eligibility factor.
Who is responsible for your credit card debt after your death in Ontario?
I live in California, and my grandmother passed away and I contacted the credit card companies, told them she died, sent a death certificate, and they took care of the debt.
Where can one find a debt management consultant?
A debt management consultant can be contacted through the website for CredAbility. This company operates in the Georgia, Florida, Mississippi and Tennessee area. A similar service is provided by DebtGuru.
