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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 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.
Who is responsible for debt after death in Tennessee?
The estate has the responsibility. One of the primary reasons someone should open an estate is to resolve debts. 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.
Can Oklahoma hospital garnish wages for unpaid medical 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 to be considered for looming medical bills. Cindym
How do you make an offer to a debt collector?
You can call or write the collection agency or lawyer. You may be referred back to the debtor, unless the collector has bought the debt. To settle the matter, make the best offer over 50% you can pay in a lump sum, or try to get the creditor tio make an offer of a settlement amount.
If you can't pay a lump sum, you will find the creditor or collector unwilling to cut a deal as to the amount owed, and you will have to pay the interest plus something towards the principal every month.
Look into bankruptcy if the debt is over $1,000 or you owe several unsecured creditors.
How do credit reporting agencies collect information?
Credit reporting agencies collect their information from several sources including direct investigations, trade creditor and banking connections, and public and insurance records
Special reports are limited to specific businesses or companies and are provided under contract. These reports are more extensive than the general reports and contain background as well as general information.
What is the function of credit reporting agencies?
Credit reporting agencies keep files of information on all consumers who have made credit transactions at some point in their lives. Credit granting institutions may purchase these files
When separating or divorcing who is responsible for the credit cards?
the person who opened the account. (wife,husband). for example. if the wife had registered the credit card, she would be responsible for anything that has to do with the credit card. unless, the husband damaged or took over the credit card account. who ever's name the account is under is held responsible. If one spouse refuses or will not pay debt they are not forced to, however they will check if the other spouse is willing to pay. either way one will have to pay or take hold of the credit card. Then someone will be forced to or both may have to come up with an even amount of money.
Can a credit card lender garnish your monthly income from life insurance benefits?
Perhaps. State's enact laws that protect the consumer debtor's real and personal property. The concerned party should research the laws of his or her state relating to the garnishment of insurance and private retirement benefits for debts owed.
Please note, all Social Security benefits are exempt from garnishment for creditor debt, also military benefits, government pension annuities and federal or state public assistance monies.
The concerned party should also keep in mind that even if such funds are exempt from creditor attachment it is still possible for a creditor to execute a judgment against a bank account where exempt benefits and non exempt monies are comingled. It is always preferable to hold protected monies in totally separate accounts.
What medical collection company is Cons Rec Sys?
Consolidated Recovery Systems
2650 Thousand Oaks Blvd
Ste: 4220
Memphis, TN 38118-2473
(901)542-0606
I hope this helped.
Does credit reporting agencies automatically send credit status reports to consumers each month?
yes true
Does Arizona freeze your bank account when you die?
Under certain circumstances, when the bank is notified, the accounts of the deceased may be frozen. However, Chase does not know when customers die unless notified typically.
What states are non spousal states?
Perhaps what is meant is... Which states are community property states?
There are only nine CP states and they are:
California
Idaho
Louisiana
Nevada
New Mexico
Texas
Wisconsin (this state is not considered a "true CP state" in regards to the way the laws for marital debt and/or assets are determined.)
Is spouse responsible for deceased husband's medical bills in Missouri?
In Missouri, the spouse will indirectly be responsible. The estate must resolve all debts. Until that is done, the spouse cannot inherit anything.
Can Alimony be garnished from wages?
Yes. However, the Consumer Credit Protection Act limits the amount. Your wages can be garnished up to a maximum of 50% to cover child and/or spousal support if you are supporting another spouse or child. If you are not supporting another child and/or spouse, up to 60% of your wages can be garnished. Generally, no more than 25 percent of a person's wages is garnished.
How long can a collection agency try to collect a debt in CA?
California Statutes of Limitation on Debt Collection:
Written agreements: 4 years, calculated from the date of breach.
Oral agreements: 2 years.
The statute of limitation clock is stopped if the debtor makes a payment on the account after the expiration of the applicable limitations period. In some cases, the clock can also stop if you acknowledge ownership of a debt.
Do you need to open an estate account if you are a surviving spouse?
The method in which a deceased person's assets and debts are handled depends upon whether there was a Will and/or the laws of the state in which the person resided at the time of his or her death.
The best option for the surviving spouse in such cases is to seek advice from an attorney qualified in such matters. The majority of attorneys offer free or minimal charge consultations to explore options.
How do you challenge a collection agency from illegal collection?
If you believe a collection agency has done something illegal you you should contact an attorney. In some rare cases you can bring action through your State Attorney Generals Office, Federal Trade Commission, or the Consumer Financial Protection Bureau. If those agencies don't have a remedy than your only recourse will be to sue in either State or Federal Court.
Most laws regulating collection activity are federal laws (FDCPA, TCPA, etc) however many states have additional laws and thus some state courts would also have jurisdiction.
If you are simply disputing the validity of a given debt than the following actions should be followed. If you feel the debt is not owed and it is reporting to your credit, dispute it with the 3 major credit bureaus ( Equifax, TransUnion, and Experian). Then contact the collection agency via certified mail to dispute it as well and ask for proof that the debt is valid.
Are you responsible for your deceased father debt if you share a bank account?
A joint bank account or more likely a portion of such might become part of the deceased estate depending upon how the account is held. Most accounts held jointly by family members are done so under the law of rights of survivorship and therefore revert to the living account holder(s) upon the death of the another.
In any case, just being a joint account holder does not make the person responsible for the repayment of debt incurred by the deceased.
How soon after a foreclosure notice can your personal property be taken from you?
Personal property is not an issue in foreclosure proceedings. Perhaps you are confused about the definition of such. PP would be household furnishings, clothing, jewery, and so forth.
As to the time limit when the persons living in the foreclosed residence, that often depends upon the terms of the mortgage agreement and/or state statutes where the property is located. In some cases it can be as little as 30 days from the time of the eviction service or as long as a year. The final eviction notice will contain the exact date the property is to be vacated. If the order is not followed an officer of the court (usually a sheriff deputy) will remove the occupants in whatever manner is required.
