Debt Collection

In New Jersey, a judgment can typically be enforced for up to 20 years. After this period, it may be necessary to renew the judgment for continued enforcement.

The seven year rule usually applies to a credit report entry not the length of a judgment.

In Illinois judgments are usually valid for 20 years with the addition of a new law they can now be revived (renewed) for another 7 after the expiration of the original one. However, the judgment creditor/holder must petition for the renewal before the 20 year time limit expires.

This is one of several reasons why a judgment lien is so damaging to the judgment debtor. Another one being that judgment amounts accrue interest until they are paid.

In general, debt collection agencies are required to follow the Fair Debt Collection Practices Act, which prohibits them from discussing your debt with third parties, such as your landlord, without your permission. If a debt collection agency is sharing information about your debt with your landlord without your authorization, they may be violating the law.

Garnishment is a process by which creditors [hospitals, doctors, credit card, loan companies or banks, etc] take a part of your income [dividends, commissions, rent received, wages/tips] in order to pay a debt -- the exception is generally child support received, civil service and military pension benefits, Railroad Retirement, Social Security, SSI [Social Security Disability] and Veterans benefits and only one creditor can garnish at a time.

Your after-tax income is exempt up to 30 times the minimum wage per week. If you earn more, creditors can garnish up to one-fourth (1/4) of the amount over the exemption. For example; Multiply the current minimum wage, $7.25, by 30 [$217.50]. If your after-tax income per week is less than $217.50, your wages can not be garnished. If your income is more than $217.50 but less than $290, the difference, $32.50, can be garnished. If your income is more than $290.00, say $300/week, one-fourth can be garnished [$75.00].

In South Africa, a person cannot be jailed solely for failing to repay debts. However, creditors can take legal action to recover the debts through civil court processes, which may result in asset seizure, wage garnishment, or a garnishee order against the debtor's bank account. Non-payment of debts is a civil matter, not a criminal offense.

The statute of limitations for creditors to pursue a debt varies by state and type of debt, but it typically ranges from 3 to 10 years. After this period, creditors can no longer sue you to collect the debt, though they may still attempt to collect it through other means.

Partial payments to a debt collector may not necessarily stop a lawsuit, as they can still pursue legal action to recover the remaining amount owed. It's important to communicate with the debt collector to try to negotiate a settlement and potentially prevent a lawsuit. Seek legal advice to understand your options and rights regarding the debt collection process.

No, debt collectors in Oklahoma are allowed to contact debtors on Sundays, as long as they adhere to the federal Fair Debt Collection Practices Act guidelines, which prohibit calling before 8:00 a.m. or after 9:00 p.m. local time.

There is no time limit on how long a creditor/collector can pursue collection action on a debt owed. There are, however, time limits (SOL) on when a collector can initiate a civil suit against the debtor. SOL's are determined by the laws of the debtors state of residence.

Yes, providing your birth date to collection agencies is often required to verify your identity and locate the correct person owing the debt. However, you should be cautious and only provide personal information to legitimate collection agencies to avoid potential scams or identity theft.

Yes, it is generally legal for a medical practice in Florida to add a fee to a patient balance before sending it to a collection agency, as long as this practice is clearly outlined in the patient's agreement or consent forms. However, it is important for the practice to comply with state and federal laws regarding debt collection practices and patient billing.

The statute of limitations for debt collection lawsuits varies by state, typically ranging from 3 to 10 years. After this time, the debt may be considered "time-barred" and a debt collector may not be able to successfully sue you for it. It's essential to check the statute of limitations in your state and seek legal advice if necessary.

Creditors have the legal option to sue a debtor for default in financial contracts in Texas and every other U.S. state. However, Texas has a rather unusual statute which does not allow a judgment creditor to garnish the judgment debtor's wages unless there are no other options for collecting the debt.

A judgment creditor can, levy a bank account, place a lien on real property, request liquidation of non exempt property, such as stocks, bonds, etc. owned by the judgment debtor.

Yes, a creditor/collection agency must obtain a writ of judgment from the civil court in the state where the debtor resides before any action can be taken against the debtor's property. The debtor will receive a final notice of judgment and be given a specified time to claim all exempted property from judgment action.

Yes, unsecured creditors can sue debtors in Pennsylvania to recover debts owed to them. The creditor can file a lawsuit in the appropriate court to seek a judgment against the debtor. If successful, the court may order wage garnishment, bank account levies, or other mechanisms to collect the debt.

You may be confusing foreclosure with bankruptcy. In states that require a court action before foreclosure, you will get the notice with the court's docket number and can respond appropriately.

In states that rely on open and public seizure, there may be no legal action, so no docket number. Someone from the mortgagee will show up and walk on your property and declare it has been seized. Usually, the mortgagee has to publish its intent to seize in a local newspaper.

Some states require the mortgagee to file an action to determine that the debtor(s) is (are) not on active duty in the military. The debtor(s) get notice of that, with the docket number. If no debtor is on active duty, there is nothing s/he can do to respond.

you need to put on your communication and negotiation hat, because if you talk with your mortgage lender and you may ask for 30. 60 or even 90 days just depending on the banks. if you keep quiet you may only have 3 - 5 days to get out.

The duties of a debtor in obligation to give a determinate thing include delivering the specific item agreed upon, ensuring the item is in the condition or quality as specified in the contract, and performing the delivery at the agreed time and place. If the debtor fails to fulfill these duties, the creditor may seek legal remedies for breach of contract.

In the United States, the statute of limitations on collecting a debt varies by state but typically ranges from 3 to 10 years. After this period, the creditor may no longer legally sue you for the debt, but they can still attempt to collect it through other means like contacting you for payment. It's important to check your state's specific laws on debt collection for accurate information.

A creditor may file for a judgment after the contract has been defaulted (some element of the debt contract has been broken by the debtor). Typically, under US federal law (FFDCPA), creditors may file for judgment up to seven years from the date the debt was initiated, or the date of last payment, whichever is latest.

Say for instance the contract was signed 1 January 2000 and no payment was ever made, the creditor may file for judgment until 31 December 2007. If however the debtor made a payment on 30 December 2007, the creditor has until 31 December 2014.

Essentially, one cent. The only possible minimum is determined by the lowest denomination of currency. The lowest practical amount is more likely two to three times the cost, but then costs and fees are transferred to the debtor in most cases.

By the Fair Debt Collections Practices Act, the creditor may collect for ten years from the date of judgment or last payment, which ever is latest. That means if you received service (bought something) on 1 January 2010, failed to pay on it, and the creditor obtained the judgment on 1 December 2010, they may continue collection, garnishment, until 1 December 2020, provided they received nothing each time they attempted garnishment. If they received as little as one cent, the time resets each time they receive payment. Your best course of action is to pay the balance in full as soon as possible.

Since your HOA fees are separate from your mortgage and you have to keep up, you need to show up with some kind of arrangements to pay the fees. Otherwise a bench warrant will be issued. This is the reason to stay away from Homeowners Associations. They are buried in with Protective Covenants that can foreclose on any house they choose if one of any Covenant rules are broken, though most are not followed. The association is part of that covenant.

A debt collector must read the Mini Miranda statement in all states of the U.S. as it is a federal requirement under the Fair Debt Collection Practices Act (FDCPA). This statement must be included during the initial communication with the debtor and must include key information such as the debt collector's identity and the purpose of the communication.

Of course you can, if you have a legitimate reason to bring suit against the person. The fact that you owe the person money doesn't change that. However, you had better be sure that the reason for the suit is real, or you will have more trouble on your hands than just owing someone money.