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Debt Collection
Debt collection is a legal and necessary practice when products or services have already been provided but the consumer has not paid for them. Some companies use collection agencies to pursue payments on debts owed by persons or businesses.
5,393 Questions
Can banks come after home owners after foreclosure?
Yes, they can but do not always do so. When a home is foreclosed, the bank tries to resell it. They can then come after the home owners for the difference in the amount you owed and the amount they sold it for. Sometimes though they never even go after hte home owner and just write off the debt instead.
Will credit card debts write off the debt after your death?
They will not do so immediately. They will attempt to collect from the estate. Debts are one of the primary reasons someone should open an estate. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
Is a spouse responsible for her deceased husband's medical bills in Fl?
My husband just died about 6 months ago and no, i am not responsible for his medical bills....I have spoken with my Lawyer and he informed me in fl i do not have to cover ANY unpaid debt of a spouse
Are you listed on the credit card account as a joint owner? If so, you are legally liable for it. If you are not listed on the account, you are not legally liable for it. Some sneaky collection agencies will try to make pay by telling you that you must pay, so beware. You can learn more about your rights in debt collection by reading up on the FDCPA.
Can you still save home after it goes into foreclosure?
There are several possible ways to save your house, at least until it is sold to a third party. Call or go online with your area legal services office or attorney general's officce and ask/look for foreclosure assistance offices. You may be able to find it through your are United Way or Community Action Council. Make sure the entity you use is approved by a state or federal agency.
Does pending bankruptcy have the same effect as bankruptcy?
No. Some things may go into effect, but things are not totally ironed out with creditors.
Sorry but yes they can. In the original contract there was a clause about what actions could be taken if you defaulted on the agreement and one of those actions is that the account could be turned over to a collection agency. So, even though you didn't directly enter into a contract with the collection agency you agreed to abide by the contract and the collection agency now legally owns the contract.
It works the same way as when you purchase a house. At some point the original lender on a house may sell the contract and you will be paying a different lender.
Can banks go after spouse if the house is not in her name during a foreclosure?
The lender must first look to the property to be paid. The lender can only go after the person who signed to note. If the spouse is not on the note they can not seek recovery against her. If the lender completes a nonjudicial foreclosure (no court involvement) it can not look to the borrower for additional monies owed on the debt. The one action rule requires the lender to elect to seek recovery by foreclosing or suing the borrower.
The only way the lender can go after the borrower and the property is if the lender files a judicial foreclosure action with the court and seeks a deficiency judgment against the borrower.
If the wife did not sign the deed of trust in California or states that have deeds of trust, the non signing spouse can seek to have the deed of trust voided entirely as both spouses must sign the deed of trust to bind community property.
How do you get a foreclosure listing?
Finding foreclosures is fairly easy in depressed markets, but it's also simple to find foreclosures in strong real estate markets. You can find foreclosures through a real estate agent, see real estate signs they put up on foreclosed properties, Check out major bank websites, Check asset management and government agencies. Also check out some Internet foreclosure companies.
What are interest-bearing debt funds?
Interest-bearing debt funds are forms of capital that include loans, bonds, short-term notes, and interest-bearing payables to trade suppliers.
Is the surviving spouse responsible for deceased medical bills in nc?
In North Carolina the estate is responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.
What can you do when you are summoned for a debt collectors and you are not working?
You definitely will want to consult an attorney.
It's possible that this is a discovery summons, meaning you have to show up and provide them with information about your assets. If you're unemployed, be sure and bring proof of that, like the stubs from your unemployment checks. If you don't have any yet, bring your severance papers. They'll tell you what to bring, like a listing of any property you own worth more than a certain amount, and bank statements showing your accounts.
If that's what's happening, it's important that you understand they're looking for seizable assets, like the money in your bank account. If your bank account is seized, the sheriff's office will notify your bank, and all the money in it will be taken out and held by the sheriff. You may be able to get it back, if you can prove that the funds are not subject to seizure (for example: if the only money in there is from your unemployment payments, it's probably exempt. You'll need to go to the sheriff's office and get a form to fill out explaining what portion of the money you believe to be exempt, and why you believe this. The form will list those kinds of income that are exempt.)
However, actually getting it back can take some time, during which you'll have no money in your bank account, so you may want to start keeping a small cash reserve. (I'm not suggesting you should withdraw all your money so that it can't be seized, but I am suggesting that it would be prudent to pull out enough to be sure you can make your next rent payment, should the creditor decide to wipe out your account on, say, the 29th).
How do you proceed when credit card company sues?
It would be best to get a good lawyer and discuss it with him. You will continue with your normal life but go to court.
Is the spouse responsible for medical bills after death of a spouse in Colorado?
s the spouse responsible for medical bills after death of a spouse in Colorado?
How can you find foreclosure date on a home?
If you mean when the house was sold at auction, check the local Registry of Deeds.
If you mean the date the house is to be sold, it usually must be published in a local newspaper to attract bidders. Usually a written notice is given to the debtor. If you're not the debtor and you don't read the legal notices regularly, call the mortgage company.
How does it take before a house will go into foreclosure?
In a judicial foreclosure state the answer as always is it depends. However, in general terms a traditional lender, bank/mortgage company, will wait approximately 90 days after the last regular payment before they put the loan in a litigation posture. After the 90 days they will usually ship the "file" to a foreclosure attorney to start the litigation process also known as the foreclosure. Depending upon the case load of that particular law firm you should expect to see a summons or complaint, which is the start of the lawsuit between 14 and 30 days. These time tables are only general observations but should give you a conservative estimate.
Can a credit card company sue you when you are unemployed?
Yes, they can. For a credit card company to actually SUE someone is pretty serious. If you're talking about collecting on a debt owed, they can certainly get a judgement against you.
If they win a judgement against you, they can collect the debt when you become employed or even have your salary garnished.
At least in the U.S., anybody can sue anyone for just about anything. Whether or not that law suit is justified, or won't be immediately kicked out of court, is the question.
Can New Jersey garnish wages for unpaid hospital bills?
Garnishing wages is an expensive process that generally comes after winning a court case and is either mandated by a judge or it was agreed to in initial paperwork signed with the creditor. There are options for an overwhelming amount of medical bills. Cindym
How often can a creditor call you?
As often as they like - until you either pay up what you owe - or come to an arrangement to pay back your debt.
Is a spouse financially or legally responsible for debt of other spouse?
I divorced my husband and had the credit card debt negotiated so that he was the responsible party for paying the debt. He does not pay on the debt therefore I found out that I am liable for the debt because the card was opened in both names.
