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When debt collectors contact you, it is important to be honest about your financial situation and communicate with them respectfully. You can ask for information about the debt, negotiate a payment plan, or seek help from a financial advisor or credit counselor. It is important to avoid making promises you cannot keep and to know your rights under the Fair Debt Collection Practices Act.
What else can I help you with?
How do you get out of credit card debt?
The best way to get out of credit card debt is to pay-off your debt. If you can't do so, then making larger than the minimum required payments would be the next best thing. If you are making minimum payments, then there's a few things you can do. First, you can validate your debt. This means that you make a written request to your creditors or the collection agencies, if any, and you request that they send you documentation proving that the account is yours. By law (Fair Debt Collection Practices Act), debt collectors must send you a copy of the original contract and an accounting of how they came to the figure that they say that you owe them. If they cannot, or will not do this, then they must have the account deleted and you will not be responsible to pay them back anything. Since debts are sold and resold to other debt purchasers, some debt collectors cannot locate the original contract. Another strategy is to contact your creditors and ask them to lower your interest rate. You would be surprised how many creditors are doing so. Due to the financial crises, many people are struggling to pay their credit card and other unsecured debt. Last, if you defaulted on an old debt , you may not have to pay it back. How old? well, it varies from state to state but it's usually between 3-5 years since the last default date. Credit card debt has what's known as a Statute of Limitations, that means there is a certain amount of time the debt collectors have in order to collect an old debt. If the SOL has expired, you are no longer responsible for that debt. If you want more info regarding the fastest method of debt elimination, visit: debt-freesolutions.blogspot.com
Can debt collectors who buy a debt from another debt collector change the open date to make the debt look newer?
The is YES they can, but! They are not supposed to. Unless you effectively complain and point out to the Credit Bureaus what the debt collector is doing, they will get away with it. Additionally, the same debt "cannot" legitimately be reported with an "outstanding" balance more than once on your credit report. For example, lets say that a debt has been bought and sold three different times. The debt cannot be listed as due and owing by the original creditor and the three subsequent debt buyers. You must remain ever vigilant in keeping your Credit Reports clean. It is illegal for debt collectors to change the date of last activity in order to keep negative records on your credit report longer. The original debt that was charged off as well as all related collection records must be removed exactly 7 years after the date of last activity. The date of last activity is the charge-off date, which is the date that the debt became 6 months delinquent.
What is a different way to say you are in debt with word red in it?
My account balance is "in the red." Once debt is paid, you're "in the black."
Can you inherit debt?
No, debt is not inheritable. The purpose of an estate is to settle all debts before anything is distributed. You can opt to accept some debt, for instance a mortgage, if you want the home. Be careful what you say when talking with creditors.
Do you have to say the mini Miranda in California?
Yes, you have to say in every collection call according to the FDCPA (Fair Debt Collection Practices Act), regardless of the state you are calling in. You can take a look here www.fair-debt-collection.com
Can collectors make you pay?
No. Debt collectors contracted by the owner of the debt to contact the debtor for payment. In most cases they will say anything and harass you into make a payment. Depending on how their payroll works- If you do make a payment, they get a comission on the payment you make.
How much debt should you be in before filing a bankruptcy?
id say 20,000 or higher.
How do you get out of credit card debt?
The best way to get out of credit card debt is to pay-off your debt. If you can't do so, then making larger than the minimum required payments would be the next best thing. If you are making minimum payments, then there's a few things you can do. First, you can validate your debt. This means that you make a written request to your creditors or the collection agencies, if any, and you request that they send you documentation proving that the account is yours. By law (Fair Debt Collection Practices Act), debt collectors must send you a copy of the original contract and an accounting of how they came to the figure that they say that you owe them. If they cannot, or will not do this, then they must have the account deleted and you will not be responsible to pay them back anything. Since debts are sold and resold to other debt purchasers, some debt collectors cannot locate the original contract. Another strategy is to contact your creditors and ask them to lower your interest rate. You would be surprised how many creditors are doing so. Due to the financial crises, many people are struggling to pay their credit card and other unsecured debt. Last, if you defaulted on an old debt , you may not have to pay it back. How old? well, it varies from state to state but it's usually between 3-5 years since the last default date. Credit card debt has what's known as a Statute of Limitations, that means there is a certain amount of time the debt collectors have in order to collect an old debt. If the SOL has expired, you are no longer responsible for that debt. If you want more info regarding the fastest method of debt elimination, visit: debt-freesolutions.blogspot.com
How do you say the word in debt using the word red?
You can say the word "in debt" using the word "red" by pronouncing it as "indebted" or "red in debt."
Can debt collectors who buy a debt from another debt collector change the open date to make the debt look newer?
The is YES they can, but! They are not supposed to. Unless you effectively complain and point out to the Credit Bureaus what the debt collector is doing, they will get away with it. Additionally, the same debt "cannot" legitimately be reported with an "outstanding" balance more than once on your credit report. For example, lets say that a debt has been bought and sold three different times. The debt cannot be listed as due and owing by the original creditor and the three subsequent debt buyers. You must remain ever vigilant in keeping your Credit Reports clean. It is illegal for debt collectors to change the date of last activity in order to keep negative records on your credit report longer. The original debt that was charged off as well as all related collection records must be removed exactly 7 years after the date of last activity. The date of last activity is the charge-off date, which is the date that the debt became 6 months delinquent.
Is Can I know phone number for contact correct English?
No, it is not. You should say "Would you please tell me your contact information?" Or, "Please give me your contact information." You can also say "What is your contact information?" And if you are only interested in the telephone number, "Could I please have your telephone number?"
How do you say debt in Hebrew?
Chov - חוב
How do you say debt in Latin?
debitum
What should you do if a detective agency is chasing you regarding a debt you had seven years ago and how can you find out if the original lender has written this off?
please can you tell me if say after 5/7 years is your debt written off
Can a first party collector tell a cardholder they are calling the bank if he doesn't exactly work in the bank?
Can you ask a question that is a little more vague than this one???? What exactly DOES the cardholder do in the bank? If he doesn't work there, nobody there is going to be able to give ANYBODY information about him. There are laws in effect to govern what bill collectors can do or say. Check out the Fair Debt Collection Practices Law. First party collectors that contact your business must disclose the purpose of their call and fully identify themselves...yada, yada. If you have mislead a collector - you did it to yourself and don't you look bright! Here's an idea - pay your debt. Bill collectors help businesses recoup losses that otherwise raise rates, prices and so on. They are the good guys for those of us who are financially responsible. I would think about going that route.
Can an employer ask an employee's debt collector to stop calling?
Yes. In fact, it is a violation of the federal Fair Debt Collection Practices Act for a debt collector to contact you at work if your employer disapproves and they are informed of this fact by you or your employer. You or the employee can tell the debt collector to stop. Simply interrupt him and say, "This is my work number. Do not call me here again." And then hang up. 99% of the time, that will take care of it.
What did Obama say that you change if he win?
the debt.
