Debt Collection

call them

On February 15, 2010 I called the State of New Jersey and asked this specific question. I was directed to reference a court case in 2000, Weintraub vs The Director. The State representative summarized the case by saying that cancellation of debt income, whether it be business or personal (such as credit card debt cancellation received on a 1099-C form) is NOT taxable for New Jersey state purposes. It is however, taxable at the federal level.

In Oklahoma, the deceased's estate is responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.

It depends on the laws of the specific jurisdiction, but in general, if the child's share in the house has been legally transferred to them, it could potentially be subject to collection by debt collectors. However, if the house is owned jointly with siblings or has restrictions preventing creditors from seizing the share, it may be protected. Consulting a legal professional for advice tailored to the specific situation is recommended.

You can sell your house while it is in foreclosure. If the price is less than you owe the bank, the bank has to agree to the selling price first.

You must find a collection agency you wish to do business with and arrange to either sell them the debt for a fraction of what is owed or pay them to collect on your behalf. This is a very complicated process and is generally only done if you have many accounts to put through their agency.

A cloud on titlle is any claim to the title on a property that puts another claim into question. That is, one may own a property that another person claims with some (though by no means clear) legal justification.

Example would include an easement that hasn't been recorded. Another example is if the originating bank puts a Lien against the property, but then sells the loan and the new bank, instead of buying the NOTE and putting a Lien on the property, instead is merely a Servicer,not a Lender, and records the Lien in MERS, an electronic registration system for ability to trade Mortgage Backed Securities, but not in the County Tax Records. In order to be a trustee and a beneficiary party in interest, the party must have put money up to the game in order to have legal standing. MERS is merely a recordation system and is not an assignee as no Deed of Trust has ever been assigned to it, nor has it ever put any cent in any real estate transaction.

It gets very complicated as a result of Pooling and Servicing Agreements, that hold a collection of NOTES together, for the purpose of selling on the secondary market as Mortgage Backed Securities. Once a NOTE changes form from a NOTE to a STOCK, it changes form irrevocably. Therefore, the chain of title is broken and a broken chain of title can not be fixed. Once it is broken, it is broken.

To answer your question,no a LIEN is not a cloud on the TITLE in any way. Clear and marketable title is not necessarily a title free of LIENS. A title can indeed have a lien against it. That by itself is not a cloud on title. Instead, if there is a broken chain of assignment of the NOTE and the LIEN, than that is instead a cloud on title. A cloud on title makes a property very un-marketable, as the property can not be conveyed with clear and marketable title, to a new buyer and therefore, any previous claims against the title have to be paid by the new owner, whether or not they were part of the situation that caused it.

In other words, once a property becomes bank owned, a foreclosure, the foreclosing bank pays off all Junior Lien holders, such as a Home Equity Loan or a Mechanics Lien, so that all legal issues of the previous home owner don't fall upon the new home owner.

Because credit cards rely on the vendor to perform identification of the user. Debit cards, on the other hand, can be used in ATM's, so a PIN is required.

In most countries (I expect the state of Ohio would be the same) the debts of a deceased person are normally payed from that person's estate and would be settled by the executor of the estate as part of obtaining probate for the estate.

If you are worried (and the estate has an executor) speak to the executor, otherwise seek advice from an attorney if the hospital is coming after you for the money.

No. Actually you almost answered your own question and the reason I say that is your use of the word "hire". When a business or person hires someone they are not responsible for the actions of those they hire. If you used "owned" then the question would have merit.

Most usually they are empowered to take items where you haven't made the payments. If both the truck and trailer were being repossessed, then you are stuck.

Debt collectors are generally prohibited from disclosing information about your debt to third parties, including your neighbors. They are allowed to contact third parties to obtain or confirm your contact information, but they cannot discuss the details of your debt with them. If you believe a debt collector is harassing you or disclosing your debts to others, you should seek legal advice.

Yes, if they have a valid garnishment writ from the court in the debtor's resident state.

The deceased's estate is going to be responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.

All states can allow your salary to be garnished if the company first gets a court judgment stating that you owe the money. This is attached to your credit report to ensure you do not get further loans or are able to secure new housing or have utilities transfered.

The best plan is to (naturally) pay your bills on time as you agreed to do. Life does happen though. Call your card company. They want their money, so they will work with you. No credit card company is going to go through this effort if you work with them.

By the way, It is the person that stole the money from the card company that ends up paying for all these expenses. I know of one person that owed $200.00 on a Master Card and ended up with over $1000 in judgments and garnished wages.

In Nebraska, the deceased's estate is responsible. The spouse can be held as a beneficiary of the costs and by inheriting less from the estate.

I would hope they wouldn't! If your house is being taken away because you are not paing them back, they are owed the money, not you. A bank would not assist in that theft of money. I would believe that there would be criminal issues involved if you cashed that check anyway. Their name is on the check for a reason, they are protecting their money that is not being paid back.

You can check for judgments against a person by searching court records online, visiting the courthouse in the jurisdiction where the judgment was issued, or hiring a professional background check service. Additionally, credit reports may also show any judgments that have been reported to credit bureaus.

ACH debit is a type of payment that allows companies to electronically withdraw funds from your bank account, using your bank routing number and your account number.

Credit card debt does not expire. If collection for the debt becomes a liability, then the creditor can write off the debt as a total loss or warrant a reposession of property, but the debt itself will never expire on its own.

This is a serious endeavor that require you to engage in a business relationship with one or all of the 3 credit agencies. It is not designed for an individual to report a single account. The laws surrounding credit reporting are far to vast for the average person to process.

If you own a company and will need to set up a reporting relationship I suggest you visit the websites for:

Equifax

Experian

Transunion

Yes. It says "Account information disputed under Fair Credit Reporting Act" or some variation of that. The dispute doesn't hurt your score, it is your legal right.

No they cannot. It must be by court order, and/or government agencies (tax delinquency for example).

No. You never agreed to pay the debt, therefore cannot be held responsible.

No one. The family is not responsible for the debt. Credit cards want people to think they are, but it is volunteer to pay/assume the debt of the person who passed away.