Debt Collection

There are costs associated with bringing a civil lawsuit and collection agencies want to be sure of the following:

* There is a good chance that the collection agency will win

* The amount of money is significant - not small claims

* All attempts to collect (legally via FDCPA) have been met with a lack of payment

If the collection agency has one or more attorneys on staff, they will be more likely to pursue borrowers in court as the expense to do so is lower with in-house counsel vs. retained counsel.

An obligation to pay a debt is usually by contract. A contract by a minor is "voidable" meaning that it can be invalidated. However, it is not void. The difference is sometimes important because if a contract is void then someone could never be held accountable. A contract by a minor however, may later be ratified (acknowledged as valid) by that invididual. Ratifying the contract then makes the person legally responsible. If the person who signed the contract as minor does not want to be held legally responsible, he or she must formally rebuke that contract.

"Is Georgia a non recourse debt state?"

Since Florida is not a recourse state, and Florida adopted its laws from Georgia, Georgia must not be a recourse state.

A judgment will remain on your credit report until it is paid. If you have paid it, take the receipt into the court that issued the judgment and get it marked paid. It may take awhile for the credit reporting agencies to make the change, but you can send each a copy of the paid receipt and a letter which may help shorten the time. Meanwhile, keep a copy of that receipt.

The term assigned in this instance means the original creditor has assigned or given the right to collect the debt from you to another entity, such as a collection agency. If there is a proper assignment, you no longer owe the money to the original creditor and it may likely refuse to accept payment. Now your debt is owed to the company the debt was given to. Sometimes, unpaid debts are sold to collection companies for maybe 50% or some other higher or lower percentage of the unpaid amount. Now the collection agency owns your debt. This is why you might be able to make a deal with the collection agency to pay less than the amount owed. If a collection agency pays 50% of the debt, then contacts you, it will want the full amount. If you can't pay it they will sue. However, suing and collecting the full amount through garnishment is a slow, time-consuming process. Often the agency prefers to get something more than it paid in order to make a profit. If the agency paid $500 to buy a $1,000. debt, it might be very happy to get a payment from you in a short time for $700. That way it made a quick $200 with not much work. Remember when dealing with collection agencies that claim the debt has been assigned to them for collection, you have a right to see that assignment in writing before sending them anything.

A creditor or collector can sue you whenever they feel like it. The question is can they collect? In Arizona the law states that from the time you make your last payment to the credit card company they have three years to collect through the court system. This is known as the Statue of Limitations,(SOL). But be careful these crafty collectors are aware of that so when they get a debtor on the phone a trick they will play is the get a good faith payment, say $50 bucks. This starts the clock all over again!

In New Jersey, a judgment can typically stay on your credit report for up to seven years from the date it was entered. However, some judgments can remain on your credit report for longer periods, such as up to 20 years for federal judgments. It's important to check your specific circumstances and monitor your credit report regularly for accuracy.

No, judgments in Virginia are generally valid for 20 years and can be renewed for an additional 10 years. However, judgments do not appear on credit reports indefinitely, typically falling off after 7 years from the date of entry.

Medical bills can be a very daunting thing to have to tame. If you are being sued in Georgia and there are medical bills involved you should know there is a statute of limitations. This statute is six years from the time of treatment.

No. A civil summons for a credit lawsuit is not a direct order of the court. If the debtor does not appear at the hearing a default judgment is entered in favor of the creditor. The creditor can then execute the judgment in whatever manner is allowed by the laws of the debtor's state. It's very important to respond to the summons in a timely manner. The majority of debtors who find themselves in a credit card debt lawsuit DO NOT RESPOND. You can represent yourself in the lawsuit (called Pro Se) and oftentimes if you do respond with a proper Notice of Appearance, Answer, and Certificate of Service the creditor will drop the lawsuit because they know they will have to prove their case AND in many instances these third-party debt collectors are trying to collect on out-of-statute debt or do not have sufficient evidence to back up their claims. When a third-party debt collector buys your debt for pennies on the dollar they often receive a one-page printout, no original contract, no signed statements, etc. Bottom line? File an Answer with the court and wait and see. Otherwise, you'll be facing wage garnishment and frozen assets.

Ready to play bill collector for your information??? OK- check out the website and see who you should write to to get things http://www.creditinfocenter.com/eBooks/PoorMansClassActionLawsuit.shtml Make noise- call them everyday asking for the same thing "your information" Report them to FTC--here is the complaint form --add the further proof and send it in. https://rn.ftc.gov/pls/dod/wsolcq$.startup?Z_ORG_CODE=PU01 Good Luck!

If the defendant declared bankruptcy, you may need to file a claim with the bankruptcy court to try and recover the debt owed to you. However, your ability to collect on the judgment may be limited depending on the type of bankruptcy and the specific circumstances of the case. It's advisable to seek legal counsel to understand your options and rights in this situation.

It doesn't. The homestead exemption protects property from being seized in a bankruptcy procedure or by creditor judgment. The lender does not relinquish the right to foreclose on property regardless of the status of the bankruptcy filing. Bankruptcy only temporarily halts the foreclosure of secured property.

In California, after a foreclosure sale, the new property owner can typically initiate eviction proceedings to remove the previous homeowner from the property. This process can take several weeks to a few months, depending on the specific circumstances and the court's schedule. It's essential to consult with a legal professional to understand the eviction timeline and your rights as a tenant or former homeowner.

The SOL for filing a lawsuit to recover monies owed has no correlation with the time limit for a negative entry on the consumer's credit report. Judgments may or may not be subject to expungement from credit reports after the 7 years from date of entry has passed. Most judgments are renewable and can remain on a credit report for an indefinite period of time.

Yes, if it is from the court it is an official order and it must be obeyed unless it is rescinded on motion by the debtor or his or her legal counsel. Creditors can request the court to order the debtor to submit documentation of income and assets, including bank account statements, tax returns, ownership of real property and so forth.

The homestead exemption has not correlation to the repayment of debt. The homestead exemption is for the purpose of protecting a primary residence from creditor attachement by means of a lawsuit judgment. Debts of the deceased should be entered into probate procedure along with all non exempt assets and property, all of such will be handled according to the state probate laws.

Debt collectors in Canada can sue individuals in the US for debts owed. However, they must follow the appropriate legal procedures in the US and comply with the laws governing cross-border debt collection. It is advisable to seek legal guidance if you are facing a lawsuit from a Canadian debt collector in the US.

First, make sure you have documented proof that shows the account was discharged. If you haven't filed a dispute. You should then report them under the Fair Debt Collection Act for unfair reporting. If, after that, they still report and account and you can prove otherwise, you should look into an attorney who can file suit for you. Rest assured they'll have five lawyers for every one you find.

No. There are many adverse consequences of unpaid medical bills, including lawsuits and wage garnishment, only noncustodial parents paying child support can be jailed for unpaid medical bills in America.

No, the expiration of the SOL designates the time in which the creditor has to file a lawsuit. This does not mean a creditor will not pursue litigation, as an SOL is not an "automatic" defense in creditor vs. debtor suits. If a debtor is sued after the expiration the debtor must bring forth proof that the debt is invalid, the court will not do this for him or her. Often people receive a summons for what they believe is an invalid lawsuit because the SOL has expired, this is not necessarily true. A creditor may file a suit one day before the SOL expires and it will be seen as valid litigation. In addition, a debt is always valid until it is paid, settled in a lawsuit or discharged in bankruptcy.

No. Once the court has dismissed any bankruptcy with prejudice the time limit for refiling is set by bankruptcy laws or by the bankruptcy judge. The order can only be rescinded or amended by the issuing judge or the appellate court when verifiable evidence is submitted proving the dismissal was in error.