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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

Will a collection agency sue for 1200.00?

Yes, many have a $1000 minimum. Best to try and settle the account or negotiate a payment plan before it goes that far.

How do foreclosures work?

A foreclosure occurs when a homeowner defaults on their mortgage payments, and the bank sells the house in order to get it money. The homeowner has the right to redeem the house before the sale, in most states.

What happens if i dont pay airtel postpaid bill?

hai i hv one airtel postpaid connection.i got the bill amount of 4500 rs,for me it is difficult to pay the bill.meanwhile i got a call from airtel customer care,they said that they are sending legal notice.is there any problem for me if i not pay the bill.

What is a motion for summary judgment in a foreclosure?

A summary judgment motion tells the court that based upon all the pleadings filed in the case, there are no issues of fact for the court to resolve at a trial, and that the plaintiff is entitled to a judgment without a trial, as a matter of law.

Lowell Portfolio Ltd?

Lowell Portfolio is a company that specialised in the purchase of old and statute barred debts and then try to collect on them. They have featured on the BBC Watchdog program for making claims against persons who have no debt and for non existant debts.

They harrass and demand money with menaces and without any proof that any debt existed at all.

After a spouse passes away is the surviving spouse still considered married?

In most civil marriages, the marriage celebrant says "till death do you part".

So I believe once death divides the marriage, you are no longer a married person.

If marriage is to endure beyond the grave, God's authority must be needed for this to happen. A civil marriage celebrant doesnt have the authority to bind two people beyond the grave, only in this life.

Can you charge interest on money owed to you?

Under the late payment legislation,if you are in uk,you can.

and here's the link through which you can even calculate how much interest you can charge.

http://www.payontime.co.uk/calculator/statutory.html

How can banks afford to pay interest on their customers savings account deposits?

The bank does not just hold on to the money you retain in your savings account. Instead, they offer loans to other customers using that money. The loan customers pay an interest to the bank and the bank in turns offers the savings account holders an interest. Since banks make money by lending our money, they offer us an interest.

Collect a charged off or written off account debt?

The charging or writing off of a debt is only a required accounting entry by the creditor.

It does not effect you, or change the amount you owe, or that you owe it.

It does not change any of the legal methods to force collection that were available before making the entry. It does not change any of the creditors rights, or change your obligation in it. The debt is NOT forgiven.

All it does is make the creditors accounting statement recognize that an asset (your receivable) that it expected to realize, and already recorded as income, is not going to happen. They are taking the charge to their books for the expense of your not paying, or that it is now considered unlikely you will pay, and the asset essentially no longer exists (or in bank terms, is no longer productive). When the charge off occurs depends on many things in accounting parlance...most companies actually establish an account for expected bad debts (an accrual) as a current charge against sales, (expecting some to go bad), and adjust that account on experience...without having to do much on any particular account.

How long does it take for a debt collection agency to collect a debt?

A debt collector can attempt to collect on a debt for as long as she wants. She cannot, however, bring legal action against you once the statute of limitations has expired. At this point, she may still attempt to contact you by phone and written correspondence, but that is legally the extent of the actions.

What can you do if you have more than 10000 in credit card debt?

i will buy the clothes, shoes just as nike air max, nike air force one, nike dunk, nike air shox, watch etc... anything i want. But i want the shoes most cause i like collecting shoes, especially nike.I always go to www.haishoe.com to choose what i like. you can ,too

Can a creditor remove a charge off?

Yes, a creditor can remove a charge off from your account and your credit reports. Credit bureaus can also delete charge offs from your credit report if they are disputed and not verified.

What happens if you foreclose?

You get your property back and get to keep any money already paid for it.

What do you mean by deferred income?

Deferred income is the converse of accruals. It is income received during an accounting period, but for which the company has not yet supplied the goods and services as at the end of the period, so which cannot be recognised as income.

How long are written check stop payments valid?

It depends on the bank. Most stop payments are lifted after 6 months. Here's an article about how to stop payment on a check.

http://stopchex.com/how-to-stop-payment-on-a-check.html

What should you do if a creditor is trying to collect a debt on a deceased individual in the state of Georgia?

Refer them to the estate of the deceased. 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.

What do Credit report tell creditors?

Credit reports generally tell creditors about your current and past credit history. They include things like the amounts of credit extended, the highest balance that you held, current balances, how long the accounts have been active, if and when you were late on a payment,how late the payment was, etc. They can then use this information to determine the risks associated with lending you money.

What happens to a married person's assets when he dies without a will?

The assets are transferred to the closest family member (if any). Most people have people whom they do not consider family, but in some cases this can be the person to whom the assets are transferred. In the case of a married person, the assets would be transferred to their spouse.

What happens when the city puts a lien on your house for unpaid taxes?

Eventually the city will take possession of the property and sell it.

Is debt consolidation wise?

Debt consolidation can be a great tool to help manage your debt. By bringing all of your debt to one lender, you eliminate the hassle of making several payments. Read the rest of the article in the related links section.

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