Debt Collection

When a person is taken to civil court (for example, a credit card company suing a cardholder to get paid back), the court makes a judgment for or against the plaintiff (entity initiating the lawsuit, in this example, the credit card company).

If the judgment is for the plaintiff, the result is effectively a judgment against the defendant (the person taken to court in the example). Part of the judgment is the amount that is to be paid to the entity winning the court case (judgment).

Judgements against a borrower (and the amount set to be paid by that borrower) will make their way onto the credit report and will cause a drop in credit score.

By the Fair Debt Collections Practices Act, debt collectors may call once per day and either speak to the debtor or leave a simple message. If the debtor requests or gives permission for the collector to call additional times, then more calls are permitted.

Anything more is harassment.

Even if the collection company goes bankrupt, you still owe the bank whatever money you borrowed from them. The bank hires the collection company to get that money, so you still owe them

If they've sold your case to a collection agency, they have been "paid" for your debt with the money the collection agency gave them for your case, so, no, they can't legally sue you - as far as I know.

Yes. A joint bank account is an equal property of all the parties involved in the joint account. So if one of the parties who jointly hold an account owes a debt to the bank, the bank can lay claim to the cash he/she has in an account they jointly hold with another person.

Real property tax liens(s), followed by the holder of the oldest recorded lien.

No. However the creditor can use such information as supporting evidence of the debtor's ability to pay a debt and his or her negligence to do so if lawsuit to recover the money owed should arise.

A joint account is just another bank account which can be used for any purpose. Yes, you can use it to take a personal loan or pay for one. There are no restrictions reg. joint accounts not be linked with personal loans.

Yes, if one got the loan after foreclosure proceedings began.

When banks make credit decisions, they want to consider as much up-to-date information as possible. If a foreclosure is coming up but is not on the credit report, the bank may grant the loan. Once the foreclosure shows up on the report, the bank will conduct due diligence and see if they would have granted the loan knowing about the foreclosure. Most banks would not and will call the loan, making you responsible for paying immediately.

R9 is the code for foreclosure and write-off as uncollectable for any credit account...this code in any credit profile will send a credit score down low, usually to the 600 level which is usually unacceptable for any further new loans....Word of advice, on any current accounts that you do have at that point in time, keep your payments current and depending on that companies relationship with you, you may be able to keep that account open (like a credit card). however, once a credit profile gets one R9 code, the computer that figures these scores will assign more higher numbers for scores at the earliest opportunity for any further delinquencies. a perfect score of accounts for all credit cards and mortgages, as well as any other accounts will show R1 across the board.

The children are not directly responsible in Pennsylvania. The estate is responsible to settle all the debts. Until these have been paid, the children are not entitled to receive anything.

In Arkansas the estate will be responsible. The spouse indirectly will pay, as they cannot inherit until they are resolved.

Employers can refuse requests, not subpoenas.

Yes, they can certainly bring suit. You benefited by their payments. They are entitled to get their money back.

Both have central committees - Novanet

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Ask your lender

Ask your lender.

In Mississippi, the estate must resolve all debts including medical bills. Until that is done, the spouse cannot inherit anything.

The bank can freeze any account that is held by a customer with the bank. But, this does not happen at the banks wish. Usually a legal order by law enforcement agencies (police or cops) is required to do so. Usually cops and federal authorities freeze bank accounts of terrorists and known malicious elements of the society.

Well, if you have to pay a debt to a company, and a representant of the company has the papers necessary to prove that you have the debt, but the company is bailed out by the government, you still have to pay. Some companies are bailed out because they have no more money, because they gave the money to other people and then expect them back. Not paying can be called fraud, and some people have been jailed for profitting on these companies. The criminals saw in Econimic sites that the company`s funds are almost 0, then take a loan, the company is bailed out and the man goes with the money. Of course, the government doesn`t want this, so if you have a debt even to a long-time dissapeared company, you still have to pay it. So choose wisely when you have a debt, or you`ll have to give back money to people that died long-ago.

Upon your written request for validation, yes. This is covered under the Fair Debt Collection Practices Act (FDCPA).

Liabilites