Debt Collection

A debt collector has to attempt to send a letter within 5 days of placement.

Are you having a difficult time with a debt collector?

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OD in banking typically stands for overdraft or overdrawn, meaning more cash was taken than was in the account.

The advantsge of being a base collector is that u will get lots of pussy. and make money doing it. The advantsge of being a base collector is that u will get lots of pussy. and make money doing it.

Only if they are licensed in another state and only if that state requires a license. If no license is required, any agency can collect there.

No.

Debts are one of the primary reasons someone should open an estate. A debtor can ask the court to set up an estate to handle such things. 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.

In most cases, a collection agency cannot take your personal possessions. Depending on the amount, they may be able to garnish your wages which is what would happen first.

It is always a good idea to try to understand as much as possible about the issue and the cause of the liability. You could owe for a return that was filed on your behalf, this is known as a Substitute for Return. If that is the case, it may be in your best interest to file your own return to replace the SFR. Now, if you owe the IRS, the bottomline is that you have 4 options (I don't consider ignoring them an option): 1_ You can pay the liability in full by mailing them a check. Do however make sure that the amount is being applied correctly to the years in question. 2_ Enter an installment agreement to pay the liability over time, just like a car payment the interest and penalties will continue to accrue until either the balance is paid in full or the Statute of limitations expires. There are different types of installment agreements, they can be streamline, or fully negotiated depending on your financial situation and the amount of the debt. 3_ There is a program called currently not collectible that can be negotiated with the IRS, this program is for taxpayers that have not an ability to pay on a monthly basis. It is a fully negotiated agreement where you have to prove that you do not have the ability to pay. 4_ Finally there is the Offer in Compromise programs, where you offer the IRS an amount and if they accept then they write off the balance on your account. Regardless of what many unethical companies would have you believe on late night TV, this program is very seldom a good option for most taxpayers. Having said that, it is a legitimate program that many taxpayers can benefit from if they qualify. There is a small print that needs to be taken into consideration along with a tax professional that deals with this type of issue on a daily basis. Hope this helps. Roger Hadad, Effectur Inc., www.irs101.blogspot.com

Your mom will be responsible for the debt and if she does not pay it could affect her credit, she could be placed with a collection agency or sued in court.

If a judgment is obtained steps can be taken to obtain payment if you do not pay voluntarily. Once they have a judgment, they can go back to the court if they do not receive payment and file for periodic payments, once the judge issues an order for periodic payments, if you do not make those payments you will be violating a court order which is punishable by being arrested. Also, if they have obtained a judgment and you do not pay they can attach any assets you have such as vehicles, property, bank accounts or paychecks.

In most cases yes, some states have lawsuit collection limitations with regard to the spouse but they are very lax. Just figure it as a divorce case all property and assets are community property of the couple therefore can be attached in any potential lawsuit.

Generally speaking, yes it is ok for them to come to your job. But there is a difference between 3rd party bill collectors and 1st party.

Say you owe money to Joe's Garage, and Joe comes to your office to collect. He's not a bill collector and he can do pretty much anything.

If Joe gives that bill to an actual collection agency, there are rules and regulations that govern them. Yes, they can come to your office, but they can not discuss the debt with anyone but you, they cannot tell the receptionist they need to talk to you about an unpaid bill, nothing like that. If they do, they are violating federal law.

You pray to god

You may want to double check the document to see if you were indeed liable on the loan. You may have not been on the loan but on the deed to the property also.

It is possible, cash purchase, or substantial change in your ability to pay which would make the bank think you are a good credit risk. This could be in the amount of time since your foreclosure and maybe you have proved through repayment of another loan that things have changed since the foreclosure. Amount of time since foreclosure, repayment history, amount of credit, amount of debt are all items considered in your credit report which then gives you a score and the bank or mortgage company uses this to determine what kind of loan (rate and terms) you will get if any. All of this being said it is NOT easy especially in today's market.

average debtors/credit sales X 365

Google your county online for foreclosure sales. Be in place time or date of sales. Research properties in advance to see which one you want to buy and have money prepared for purchase during bidding.

Credit card companies will do whatever they can to collect the money you owe them. If you quit paying the first step will be using either their own or an outside collection agency to try to collect the money. They will send letters and call you. If they can't find you they will attempt to find relatives and they will call your relatives and ask them to pass along a message. They can be very harrassing. If the collection efforts don't work they can take you to court. If you are working they can garnish your wages (a portion of the wages will be sent by your employer to the credit card company before you even see a paycheck). The worst thing that happens if you quit paying is that your credit score will be damaged and it can affect many aspects of your life. Potential employers can check credit scores and are less likely to hire someone who has poor credit. Also other creditors (car, house, etc) can often raise your interest rates if you've defaulted on credit cards because they then consider you high risk. Landlords can check credit scores and may demand high security deposits or several months rent. Insurance rates can go up...all these troubles can follow you for years, and even if the credit card company stops trying to collect the debt they are likely to check up on you once a year and if you begin to accumulate assets (open a savings account, buy a house, etc.) they will begin collection efforts anew. The best thing to do, if you are struggling with credit card debt is to talk to the company. Explain what got you into trouble in the first place and what you are doing to get your debt under control. Ask them to work with you and if they agree to do that be sure to stick with the terms you agree to. They may lower your minimum payment, lower your interest rate, or offer you a period of time when you don't have to make payment. It's really important to have this conversation BEFORE you have missed payments and they begin collection efforts. They are more willing to work with you if you are trying to work with them. Hope this helps.

The estate is responsible for the decedent's credit card debt.

I have worked at Silverleaf Resorts at one of there call centers, now the best solution here is of course to ask to be removed from the calling list. They have to take you off, if they do not and continue to call, sue them. Once they pay you they will care enough to do. They have been sued for this reason many times so just look on the web and you can find suggestions.

Yes, a collection agency can make a house visit or visit you at work if they cannot reach you by phone and their letters are going unanswered. Personal visits are one of the most effective ways to get paid.

A creditor can garnish wages or attach assets if they have obtained a judgment against the debtor.

Yes, Absolutely! I was and a judgment was AWARDED against me. Now in order to protect my paycheck, I have to make payment arrangements or risk garnishment of my checking account. HERE IS SOUND ADVICE - Make payment arrangements and make the payments as agreed.

But only if the it occurred within the statute of limitations which varies by state. If the statute of limitations has past they are out of time, but if you make payment arrangements you may actually reaffirm the debt and then you would have to pay. I was out of work about 10 years ago had some bills which I would never be able to pay, when I finally got back working I was making just above minimum wage and it took almost 4 years to get back to where I was financially. The statute of limitation was past in my state so they call me from time to time, but they can't collect and they can't put it back on my report so long as I don't reaffirm the debt by making a payment arrangement. My advice is if you are in a bind to contact legal aide if you qualify or an attorney for advice for your state.

You can sue anybody for anything - but the Judge can get ticked off too

The best thing to do is hire a Credit Restore Company that just doesn't

send letters to the BIG 3 , but actually uses attorneys ....

That will not only get your DINGS off - but improve your score quickly

and forever (or until you get another ding for whatever reason)

;)

Wayne

Explain the procedure when a customers has been previously written off as a bad debt subsequently pays the amount originally owing .