Debt Collection

If the person who borrowed money got someone to co-sign on a loan (or other items), and the person who is responsible for the payment doesn't pay, then the bank goes after the co-signer. This creates a huge problem for the poor co-signer who helped their friend. If the co-signer doesn't pay their credit is also ruined.

Seek professional help. There are companies that can help to negotiate debts to make them more affordable. You can also learn how to do this yourself. You probably want to consider all possible solutions to your financial issues, and then consider bankruptcy if necessary. There is certainly a solution one way or another. The most important thing is to get started!

Only if the person were a joint debtor. If the person did not jointly incur the debt nor enter into a financial agreement as a cosigner he or she is not responsible for that debt.

A creditor or collector cannot arbitrarily change the date of the DLA in order to negate an SOL or enter on the debtor's credit report or other similar actions. However, if the debtor made an attempt to repay, negotiate a repayment or other such contact with the collector the original DLA becomes moot until the debt is considered defaulted again.

If the question refers to the continued collection of a debt after the SOL has expired that is allowable. Debts only become invalid when the creditor or collector who buys the debt "forgives" the money owed. The debtor will then receive a 1099C form which designates the forgive debt as income and it must be reported to the IRS as such.

Yes unless they way over 200 pounds

The term 'charge off' does not define the debt as invalid and uncollectible. The term is something that creditors use to signify a debt is in collection status which relates (in a roundabout way) to taxation purposes.

One should always honor their debts when it is at all possible. Not paying a 'charged off' debt can subject the debtor to collection action from third parties and/or a civil suit.

Yes they can. I have been a stay at home Mom since 2009 and in 2010 a debt collector filed a judgement against me. We hadn't heard anything from them since 2010 after I called them once I was served with the summons to appear and they just completely emptied two bank accounts that we have. One is a joint account with the father of my child where the only money coming in is his and the second had $3.00 in it. I recommend that you immediately find a way to file bankruptcy if your debt is super high. This nonsense has cost me more money than the $1,500 to file bankruptcy. When you have NO money $1,500 is a somewhat unfathomable amount but my judgement has gone from $10,000 in 2010 to $15,000 now and it will just keep climbing.

Mother's home was foreclosed on. Served with court papers in March, and court trial was in November. The court papers said vacate asap. I am assuming one would have until the court date to clear out. But I think during this time one would have the chance to save the home. This one was not worth trying to save. Very , very old and much time and money need to be spent to make it livable.

No

Yes, unless that is part of the deal.

They can take it anywhere; if you haven't paid you bills on it.

After 90 days of late bills they order a repossession. Once they find it, it's legally theirs.

When a married couple reside in a non community property state they are not responsible for each others debts unless said debt is joint. That being the case it does not matter whether the couple are living together or legally separated.

However, the matter relating to the question is handled differently in community property states and therefore the concerned party should consult with the attorney handling the dissolution issues of the marriage.

Dont ignore it! Try to reach a settlement. At the very least, go to court. If you dont go, then the account will automatically become a judgement, which will stay on your credit report for up to 10 years. Most companies are willing to work with a payment plan, so there are certainly options available to resolve the debt before it becomes a larger and lengthy problem.

anwser is none of your busnisess

In most cases there is none. Charge off and written off are terms that indicate the debt is being removed from normal account action and sent to collections. Only when a debt is "forgiven" by the original lender or collector is it considered no longer collectible.

If the debt is contractually valid, and you are not disputing the debt, it will be based on the initial contract, and the Statuate of Limitations (SOL). Each state may vary on the SOL. In addition, some Medical Providers (original creditor:e.g., hospital, physician, etc) and individual States, have specific guidelines on the collection of medical debt. Reporting on credit history may be for 7 years, again based on the Medical Provider, and the state's guidelines.

Take them to small claims court. The cost is very cheap and you don't use a lawyer. Make sure you can prove your case.

If you own the home, you should have received several notices that you were going to be foreclosed and then a notice that you were in foreclosure with a specific date and place for the auction. The notices vary from sate to state.

Publication of the auction date is a requirement, usually in a local newspaper.

If you are not the owner, you can look into local newspaper legal ads, local registry of deeds, specialized publications like Banker & Tradesman and local online websites.

3 years

The statute of limitations in Florida to collect a debt is as follows:

Contract or written instrument and for mortgage foreclosure: 5 years. F.S. 95.11.

(F.S.) means Florida Statute, you can find the aqctual statute on the Florida Courts website.

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Florida

Fla. Stat. Ann. § 95.011

Written Contract 5 yrs.

Oral contract 4 yrs.

Injury 4 yr.

Property damage 4 yrs.

The amount collectble is the past due or total balance due, plus costs, interest, and fees permitted by the contract or agreement.

Yes

Agency cant freeze your bank account at all, They can go to court asking to freeze your account, then a court order only can freeze you account, an account cant be freezed by any third party order.

According to the Equal Access to Justice Act, the prevailing appellant's attorney fees can be paid from the Judgment Fund if the government's actions were not proven to be substantially justified. The appellant has 30 days from the court's final judgment to file the application.

It means you must send the payment of any money you owe