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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
It wouldn't show up as a completed foreclosure, but it would show up. It would say "foreclosure started" or "foreclosure initiated" or something to that effect.
Can a credit card company garnish your money from your bank account with out your knowledge?
Strictly speaking, a 'garnishment' refers to the direct deduction of an individual's wages directly from their pay, through an arrangement with their employer and pursuant to a court order. So, it would be pay that is 'garnished.'
Access to a bank account may be far less difficult to obtain. A credit card company may have included clauses in their cardholder agreement by which the cardholder (ie, you) consented in writing to the direct collection of funds from a bank account; this would usually either be a specific 'automatic payment' option which the account holder elected (ie, to make the payment on a specific date each month), or by a default agreement written into the contract. In either case, the cardholder's failure to read the fine print would be to blame for such a debit.
So, although this might literally be 'without the cardholder's knowledge,' it would technically be 'with the cardholder's knowledge,' since this is precisely what the account holder agreed to (or even requested), in writing.
If this is no longer desireable, the credit card company should be notified in writing that such authorization is revoked. One's bank may or may not refund the charges. If such authorization is not considered revokable (according to the credit card company's terms of service), then they may continue such debits. Banks are usually reluctant to refund direct account debits, although many do. The ultimate solution is to close the bank account and open another.
For this reason, many companies prefer automatic check debits, as opposed to credit or debit transactions drawn on bank accounts; It is very easy to delete and reissue a debit (credit) card drawn on a bank account. It is more difficult to close and re-open a bank account, and a consumer is likely to have pending checks that must clear before the account can be closed, and at least a small cost to replace checks drawn on the (now) non-existent account. That makes it easier to get away with the debits; it may be easier and less costly for a customer to just allow the debits.
Consumers should never provide their bank account numbers to anyone, for any reason. Payments should be made via debit card number. That way, individual charges can be contested or reversed without the hassle of closing and re-opening accounts. Debit cards can even be re-issued with new numbers without changing the source account numbers.
Now, all of that notwithstanding, if a debit is indeed 'without authorization,' then this would be wire fraud, and should be reported to law enforcement.
Yes. You have a legal contract to pay the agreed upon amount. If they did not accept your latest offer, they can send the bill to a collection agency.
Can the State of California garnish your wages twice?
Yes if the total owed was not recovered from the first garnishment, and they can keep hitting the account or paycheck until the debt is paid.
Can a debt collector still try to collect on a 22 year old debt?
Yes, a debt collector could try to collect it. However unless this is a judgment the statute of limitations have expired and they would not be able to sue you or take any legal actions.
They could not even threaten to take any such legal actions or reporting to credit and if they did they would be violating 15 USC 1692e § 807 which forbids a debt collector from use any false, deceptive, or misleading representation or means in connection with the collection of any debt.
If this is a judgment then that may change the answer, since some states have judgments that last more then 20 years, some even forever.
Why is the same creditor on my credit report twice?
Is it for the same account or do you have another account with them?
Do the collection agency require a household income verification?
No, in fact you don't even have to deal with them if you don't want to, they are just tactics they use to get your employment info so when and if they try and sue you and if successful they will file a writ with the courts immediately to garnish your wages. Never give them your bank account info, your credit card number or employment info.
Is a speeding ticket fine classified as a debt if it goes to a collection agency?
Yes. Motor vehicle violations are so much cheaper to pay if they are paid right away. If not the penalties make the debt grow. Non-payment can also result in a refusal to renew your license to drive.
Are parents responsible for the debt of their child over 21 years old?
Yes, in some cases a parent can be responsible for the debts of an adult child. Prime examples are cases where parents acted as a guarantor for emergency medical service, owned a automobile involved in an accident, or co-signed on a loan or credit card for their adult child.
However, if this is just some creditor or collections agency contacting you on a debt you have nothing to do with making a threat to hold you responsible, or even spoke with you in any detail regarding your adult child's debts then they are in violation of 15 USC 1692c § 805(b) for communicating a debt with a third party and 15 USC 1692e § 807 for making false and misleading statements.
I would suggest contacting a FDCPA attorney in your area since your son would be entitled to statutory civil damages for these violations, and you may be also, especially if they attempt to report this debt upon your credit.
Can an IRA fund account be garnished in a lawsuit?
Generally IRAs are protected from creditors, and bankruptcy reform back a few years ago put them into the same category as pensions and annuities, which are exempt from seizure under federal bankruptcy law under 11 USC 522(d)(12) up to $1-Million in total value.
On a State level there are some variations on if a Civil Judgment could attach to these types of retirement accounts. I would suggest that you talk with an attorney in your State for the fine details has there are many factors that can effect your defense on garnishing the IRA.
How long does a collector have to report that a collection account has been closed and or settled?
Typically these types of actions can be seen on your credit within 30-60 days. There are no laws or rules that requires a credit reporter to immediately post "closed" or "settled" to an individuals credit. Most just report data to the credit bureaus once monthly.
No they don't, usually the OC hires or farm out their accounts that are in collection status to CA's.
How much of your check will be taken if your wages are garnished?
Wages garnishments are obtained by an order of the court after other means of collecting upon a judgment have failed. The limit of how much can be taken in a wage garnishment depends on your state, and you should receive a copy of the Motion for Wage Garnishment that typically lists the percentage of your wages they are seeking to take.
For example, in Florida requires creditors to serve a notice of rights to the defendant upon receipt of the employees answer with a form for the defendant to fill out to claim exemptions prior to anything being touched. If you update your question with your state I can provide you with the rules.
Can a creditor be sued for putting information on wrong persons credit report?
This is America so you can sue anyone for just about any reason you can think about. However, I think that the question you're really asking is have your rights been violated and are you entitled for some damages. Generally speaking, and according or law precedence, you would not win such a lawsuit unless they ignored your dispute and/or proof that the listed debt was not yours.
Anyone that reports information to your credit, regardless of being good or bad information, must do so in compliance with the Fair Credit Reporting Act. Just to summarize, this sets the requirements to provide "accrete and correct" reporting along with sets the process for disputes. Since we live in an imperfect world it is not uncommon that credit information is incorrectly reported, and this can occasional include reporting to the wrong debtors credit. This could have occurred from a very wide range of reasons from similar names to mistakes in entering the social security number, to more outside problems such as true name fraud.
If there is information reported on your credit that is not accrete and/or correct the best thing to do is send both the listed creditor and reporting bureau a letter disputing the information and/or debt. If this was an active credit line that you had not opened, I would also suggest to contact the creditor by telephone and possibly involve the police because you might be a victim of identify fraud. The creditor and reporting bureau must by law respond to your dispute with confirmation that the information has been verified or removed.
Generally speaking if it was just an error it will most likely be removed upon first dispute, however if it is more of a complex dispute it may take some more hard work to get it removed. You can contact a credit and collections attorney who may be able to help clear up the problem, however I would not suspect that there would be anything you could file suit regarding. To prevent these types of problems I suggest signup with a credit monitoring service, since most would send you alerts when any new information is added to your credit files, and can help with quickly detecting mistakes or fraud attempts.
Can your wages be garnished if you are on government assistance?
If you have a job on top of the assistance, that money can be garnished. Anything you might get back for income tax refund can be taken also. The government assistance can't be garnished.
What happens if you cant pay off debt?
You'll probably have to file bankruptcy. >_> In the USA, legally, nothing can happen to you. You can't be arrested and thrown in jail, or anything of that nature. Debtor's prisons are not allowed in this country.
How many payroll garnishments by creditors are allowed?
One at a time, but that just means that additional garnishments will be done after the first one has expired or is paid in full.
Is it legal for your wages to be garnished in Florida?
Yes. If someone has gotten a judgment against you & you have failed to pay them, they can file for a wage garnishment also.
My bank is threatening foreclosure are they willing to accept a payoff lower than the amount owed?
Maybe, but no homeowner knows in advance how much a bank will accept or even whether it will consider an offer for less than the total amount owed. The best idea is to speak with the bank about getting the principal reduced in a loan modification or allowing the borrowers to pay less than what is owed in order to sell the house in a short sale.
Am I in a debt collection process?
The easiest way to find out if you are in a debt collection process is when a debt recovery agency contact you or the creditor some times handle debt collection inhouse.
Usually collection agencies send a demand letter but that depends after the creditor turn to collections their receivables
What is vesting assent in an estate of a deceased?
A vesting assent is given by a personal representative of an estate in the UK to convey legal ownership of property that is the subject of a bequest or devised to a tenant-for-life of 'settled property'.
'Settled property' is a complex feature of UK property law. You can read more about it at the link provided below.
