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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 a creditor take property to pay for a judgment that stemmed from a repossessed car?
Yes, in the event the court orders it.
Who pays bills after death if there is no spouse in Florida?
The estate is set up in Florida to be responsible for paying any bills. One of the primary reasons for setting up an estate is to liquidate any debt. If there are no heirs, the state will appoint an executor, the debts will be settled. If there is anything left over, the state will get it.
Can you get fired if your wages are garnished?
Yes, and many people whose wages are garnished are terminated. Few employer do not want to bother with the hassle or entaglement of garnishment.
If your debt is not included in the credit bureau can you be sued by the debtholder?
A debt does not have to be reported to a credit bureau in order for the business to pursue collections, sue or place the account with a collection agency. If a debt is owed, it can be collected by phone calls, letters, personal visits or through the court system.
You want to start collecting things what should you start to collect?
One famous thing that people collect is stickers, or maybe bracelets, jewelry, and snowglobes.
Will the collection agency on a repo ever stop harassing you?
By harrassing you, it can only be assumed that they are calling you multiple times per day. Or, that when they call you they are making outlandish threats against you, your family, and all of your personal safety. Or, that they are coming to your place of employment and pointing at you to identify that they are trying to collect a debt from you.
Unless you can show evidence that this agency is in violation of the FDCPA, and your state's collection laws, then no. The contact will stop only after you have paid the debt off, or seven years from the date of your last payment (in this case probably the resale of the repossessed car) has passed, or in the event the lender sues you ten years have passed from the date of the judgment, or in the event the lender got an extension from the courts on the judgment tenty years from the original judgment date has ellapsed. Pay the outstanding amount that you contracted to pay, or keep getting phone calls.
If you send small payments can a creditor still sue?
If you still owe, then yes. If there is any unpaid balance remaining, the lender can sue you once you default on the contract. keep in mind though that you will have an opportunity to speak in court, and if you show that you have continued to pay, and it is the limit of your ability, it is very possible the judge will agree and set what you have been paying as your new payment schedule. It is also possible he will deny the judgment and dismiss the suit.
Can a creditor garnish your spouses wages for medical bills in Indiana?
If you were married at the date of service for a necessary bill and are found unable to pay and yet the spouse has the ability to pay then Yes the spouse can be held responsible.
Are you legally responsible for paying spouses medical debts?
In most cases the debts of the deceased are the responsibility of the estate. Anyone that was also a co-signer on any of the agreements might also be responsible. Consult a probate attorney in your jurisdiction for help.
Is it likely that a collections agency will settle for less than the amount that is owed?
Yes, and this happens all the time. Do your research first though, because this is usually not a good idea. Negative items typically stay on your Credit Report for 7 years from the time of your last payment. When you settle with a debt collecter that starts your Seven years over from that date.
I did a volunteered Repo on a car and a collection agency is trying to collect difference of 5200?
And it is your responsibility to pay this.
You should however contact the original loan holder and request in writing a complete statement of all charges and balances owed, with reconcilliation of all amounts paid or applied toward the original balance. Do it in writing, otherwise there is no obligation by the original creditor to provide this information. contactthe collection agency atthe same time, also in writing, and inform them that you are negotiating with their client, and that they should cease and desist all collection efforts.
Remember, do it all in writing. Send the letters registered, return receipt so you have proof of service, and keep copies of everything.
Can a creditor seize your bank account if your income is not enough?
A creditor can not seize your account unless: 1) They are also your bank and you signed agreements allowing "right of offset" where the bank can take funds from your accounts to satisfy delinquent loans you have with them. 2) Your creditor obtained a court order allowing them to attach funds or place a levy on funds. Insufficient income is grounds for credit denial but I am not aware of any possible situation where funds in a bank account may be frozen or taken when a loan is current and low income is the only problem.
Some collection agencies are authorized by their clients to make payment arrangements. Some agency actually purchase the debt and will or won't make arrangements. It is up to the individual agencies and their policies.
Your best option is to contact the original creditor, explain why you fell behind, be very apologetic, and ask for payment arrangements. Legally, they are not required to accept payments once you fall delinquent. They do not even have to accept partial payments.
How do you get to be a card holder?
To get a debit card, you simply open an account at a bank and they issue you the card. As for credit cards, you gave to apply to get one, and you may or may not be approved, depending on your credit history. If you are turned down for a credit card, you can either have someone co-sign with you, or you can start building credit by getting a store credit card (such as Sears), and re-apply one you've built up some credit.
glittering generalities (:
The estate is primarily responsible. However, a spouse is normally considered to benefit from such debt and can be held responsible.
In Minnesota is wife responsible for husbands medical debts?
The estate in Minnesota is responsible for any outstanding bills. But the assumption is that the wife inherits the husband's assets. One way or another, the she ends up paying the debt. If the assets are not enough to cover the debt, the real property may have a lien placed against it to cover those debts.
Do you still owe the original creditor if it was purchased by another lender?
No, ih he sold it he no longer has any right to it. But frequently, they just hire or assign the right to collect it to another, in which case the debt is still owed to them.
If there is no estate of deceased family member who is responsible for debt?
Generally, the estate is responsible for paying the debts of the decedent when the debts are in the sole name of the decedent. If there are no assets then the creditors are out of luck.
Who is responsible for credit card debt of deceased family member is there is no estate or money?
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A collection of account receivable will affect what account?
A collection for an account receivable will affect two accounts. Cash and the Account Receivable that it is related to.
For example, a customer has purchased a computer on account for $1500 and they pay you $500 towards the balance, the two accounts will be
Cash (db) $500
Account Rec-*customer name - (cr) $500
Not only did you receive cash, which increases your cash (debit) but the customer paid toward his account and it reduces the amount he owes (credit).
