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Hi There,
Please provide few more details to come to a conclusion.
1. Your state
2. Employment status
3. How old is the debt
4. When was the debt assigned to the collection company?
I know a law firm that can help you delay the trial and get an out of the court settlement.
I would really appreciate if you can answer all these questions.
The reason I would like to know these is,
Your state would inform me about the Statute of Limitation for your state. (Do a Google search and you wud get to know what it is)
Employment status would let me know if your pay checks can be garnished or not.
If your paycheck cannot be garnished (Self- employed, retired, unemployed), you are most likely to get a very good settlement offer from the collection company even out of the court.
3 & 4 would again help me get an answer to the Statute of Limitation for your state.
If you need any more help, please contact me on my Message Board.
Thanks!
This is not legal advice, just a friend helping another. :)
What else can I help you with?
Can debt collector refuse a payment?
It depends on the terms of the loan contract. * Yes. Once a contract is in default a collector or creditor does not have to accept anything less than the full amount owed.
Can you appeal or overturn a settlement agreement if ill advised?
A settlement agreement is a contract. You would have to prove that there is some legal defect with the contract, such as duress. Simply changing your mind is not sufficient.
Can a company that purchased your charged off account from the original lender file a suit against you?
YES, they purchased a debt contract. The original creditor does not forgive / eliminate a debt by selling it to a collector -- they simply gave-up on collecting a worthwhile settlement from you.
After receiving written confirmation from the customer that program funds have been withdrawn and after discussing the matter with the customer you are considering terminating a commercial contract?
Consider alternatives to termination, issue a written termination for convenience notice, negotiate a termination settlement with the contractor
How can I get cash with a structured settlement?
This is vital that you negotiate this at the begining of the settlement negotiations. It is very difficult to get this put into place once the contract has been signed.
What are stipulations?
A stipulation of settlement is an addendum to a contract to protect any personal, public, or private interests in the event of a particular outcome. (i.e. The court case was in my favor, but in order to collect my settlement, I have to sign a gag order that prevents me from talking about the conditions of my settlement to anyone.)
Conditions under which forward and futures prices would be equal?
Different price of futures and forward which are identical (similar underlying assets) is because of the daily settlement on the futures contract. the price for both contract will be the same before the daily settlement.
Our practice is considering not filing secondary insurance claims. Are there consequences to the practice?
Yes, if you are contracted with the secondary payor, PPO contract, HMO contract, etc, you are bound by your contract to bill the plan
If you verbally agreed to a contract for an auto warranty and it was sent to you but you changed your mind and never paid nor signed are you liable?
If they didn't send a copy of a signed contract - probably no. They sent you a contract to sign and you did not do so - then also no. Did you benefit from the warrenty already? Case dismissed.
Explain the difference between a put option and a short position in a futures contract?
Well, the first difference is the root difference between a futures contract and an option contract: in a futures contract you MUST complete the sale at the end of the contract (if you didn't buy it back before the settlement date) but in an option you CAN.Once we're past that, the short position in a futures contract--the person who has the item the contract is derived from, such as a thousand bushels of wheat--is the same as the buyer of a put. Both of them have the thing now, and will transfer title to it after settlement or exercise.
What do you mean by feeder cadre?
Feeder Cadre refers to the amount of money that an employer is supposed to pay an employee in the event that he is dismissed from duty yet he has a contract.
What is contrat?
A contract is a spoken or written settlement that concerns employment, tenancy or sales. It is usually enforceable by law.
