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What else can I help you with?
Is it legal for a creditor to sell your debt?
Yes, it is legal for a creditor to sell your debt to a third party.
What responsibility does a cosigner have if the borrower AND the cosigner cannot pay a bail bonds loan?
The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.
Is the original creditor required to notify you of debt before using a third party collection agency?
Yes, the original creditor should have notified you that you had an outstanding balance. The creditor also notifies you that they will be submitting your debt to a "third party" collection agency. This is usually the final notice before your debt is sold. If you never received a notice, it is not required that the original creditor send you notice, all it is is common curiosity that they do.
You are being sued in small claims court by a third party debt collector can you contact the original creditor and pay them?
No, the original creditor has sold the debt and is no longer involved in the collection process.
Can Client be Creditor?
Yes, a client can be a creditor if they have extended credit or a loan to another party. In this scenario, the client is owed money or services by the debtor. This relationship typically arises in business transactions where the client purchases goods or services on credit terms. Thus, the client's role as a creditor is based on the nature of their financial agreement with the debtor.
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.
What allows creditor to reach property of a debtor that is in a third party's hand?
allows a creditor to reach property of a debtor that is in a third party's hands
Is it legal for a creditor to sell your debt?
Yes, it is legal for a creditor to sell your debt to a third party.
What is a secured party creditior?
A creditor is a person or organization to whom one owes money. A secured party creditor is one who has a lien on tangible property, such as a car or house, until the money is paid back.
Is it legal for debtor to assign debt to a willing third party?
It is not legal for a debtor to assign debt to a willing third party unless the creditor is involved. The creditor must approve the transaction. For example, the sale of an automobile with the statement agreeing that the buyer takes over payments is valid if the creditor agrees.
What responsibility does a cosigner have if the borrower AND the cosigner cannot pay a bail bonds loan?
The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.The creditor can take the matter to court, obtain a judgment lien and take any property either party owns.
Is the original creditor required to notify you of debt before using a third party collection agency?
Yes, the original creditor should have notified you that you had an outstanding balance. The creditor also notifies you that they will be submitting your debt to a "third party" collection agency. This is usually the final notice before your debt is sold. If you never received a notice, it is not required that the original creditor send you notice, all it is is common curiosity that they do.
Can the creditor repo a vehicle because it has an out of state title and they need a green slip to register it in Texas?
READ the contract. It listd the LEGAL reasons a creditor can repo when you are in DEFAULT. Usually they are NOT PAYING, No insurance coverage,using vehicle for ILLEGAL activities, taking out of state without the lenders permission, 3rd party possession.... MERRY CHRISTMAS
What is the journal entry for purchasing goods on credit?
Purchase a/c Dr Input vat a/c Dr To Party a/c (Being goods purchased on credit from supplier/creditor.)
You are being sued in small claims court by a third party debt collector can you contact the original creditor and pay them?
No, the original creditor has sold the debt and is no longer involved in the collection process.
If a creditor calls you 6 to 10 times a day is this harassment?
NO , if there is no contact with the right party or no message left
Does the law firm that seeking payment of a debt own the debt that was originally owned by a creditor?
Generally collection law firms or a collection attorney is working for the original creditor or the third party creditor who purchased the debt. It is not possible to say if the firm is working on a percentage basis, contracted or and independent.
