Debt Collection

An individual cannot submit a court judgment to the credit reporting agencies; however the County will report the judgment to the bureaus only by using the complete name and address of the defendant.

The original creditor does not remove your information. What is should say in the notes section is that the account has been transfered or sold to a third party collection agency. This information will remain on your account until the 7 year clock expires.

It is possible, but hard. You need to immediately file a reversal of foreclosure sale with the mortgage company. If this doesn't work and the property becomes an REO (Real estate Owned- goes back to investor), then you have other options. If it's a Fannie Mae home, you have options. Options may include having the loan reinstated, you can negotiate a new loan, you can rent from the investor for a period of time and then re-buy the home within a period of time. This is not easy and you should always consult an attorney for legal advice. Foreclosure is not always the end as many people think, it's just sometimes the beginning of a new process.

Visit my website at www.barnett-homes.com for information on homes & rentals in Virgina or email me at bethbarnett@mris.com

They are virtually the same since you don't own that thing any more and they both badly affect your credit. The major difference is that with repossession your "thing/s" are taken away or repossessed by the original owner. With a house in foreclosure you have to leave/move away.

Yes. I used to work for them. They are in Farmingdale, NY.




New Answer from Wanda Yvette with Improve Credit, LLC:


?If you check online you will notice that this company is a collection agency. They do not have a rating with the Better Business Bureau. The reason for that is they have not registered their business with the BBB. They seem to be a collection agency in New York.?

chandran

get a job(s!) and pay off the debt

Short Sale:

Now, for the sake of argument, let’s say the value value on the property is only $80,000. This is what an investor, someone like us, would be willing to pay for it. If we paid any more, with all the repairs we have to do, holding costs, paying utilities, insurance and taxes on it for a few months then selling to someone else, we would never make a profit on the house – and we are a for profit business. A buyer would not be willing to pay more than the $80,000 value of the home.

This means you can’t sell your house, because you know that you’d have to come up with the 20 grand difference there to pay off your mortgage balance. The lender is not going to sell it unless they approve a short sell. In other words the lender can allow you to sell your house for less than what you owe.

Go to the mortgage company, or the person holding your mortgage, like Wells Fargo, Bancorp South, Citibank or whoever it is here locally. You have been paying 600 or 1,000 bucks a month for the past few years, and hopefully you have built a good relationship with them. You can talk to them and see if they would consider selling less than the mortgage value. This is a short sale.

Foreclosure:

When you bought your house, you most likely signed a mortgage. That is an agreement on your part to pay back your loan according to the terms set forth from the beginning. If you stop making payments for any reason you have failed to deliver on your end of the contract. The lender has the right to take back your home and attempt to recover the money they loaned you by selling the property.

Missing a payment by a day or so is usually not much of a problem. Lenders are human too and most of them offer a 15-day grace period. There may be a late fee, but it beats losing your house. However, if you haven’t paid your mortgage for an extended period, the lender will probably start foreclosure proceedings. It can take anywhere from 2 to 12 months to complete, depending on where you live.

It’s a long and involved process for the lender, and this may give you time to take action and hopefully save your home. Here are three things you can do to get the best possible outcome when facing foreclosure.

If you are thinking of selling your house, We Buy Houses is the place to go. Please contact us.

An expense is a cost that has expired, been used up, or necessary in order to earn revenues and is recorded on an income statement. An expenditure is a payment or disbursement which may have been a purchase of an asset, reduction of liability or distribution to owner(s).

a debtor is someone who owes you money

and a creditor is someone who gives you credit for a service or supply of items

No. They don't do that. They now have permission to garnish your paycheck.

THEY ABSOLUTELY CAN AND WILL TAKE YOUR VEHICLE - IF THEY CHOOSE NOT TO GARNISH YOUR WAGES THAT IS NOT SOMETHING THEY "HAVE" TO DO. DEPENDS ON HOW MUCH YOU OWE THEM. BUT IF IT IS WORTH IT TO THEM TO GO AFTER YOU THEY WILL. THEY WILL GO TO COURT AND GET A JUDGEMENT TO ASK A JUDGE TO TAKE THAT BIG BRAND NEW (OLD OR ANYTHING OF VALUE) CAR (BOAT, SUV, PLANE, TRAILER, SPEAKERS, MOTORHOME - WHATEVER !!!) YOU JUST BOUGHT PARKED IN YOUR DRIVE WAY AND SELL IT. IT WILL BE SOLD AT AUCTION (IF YOU HAVE A LEIN ON WHATEVER IT IS THAT WILL BE PAID OFF FIRST) THEN THE BALANCE WILL GO TO THEM. IF ANYTHING IS LEFT OVER IT GOES TO YOU .......

Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)

Authorization Letter

I am authorizing Mr. ( Father name) to carry my Original Passport for visa purpose to submit to the Embassy. He will be also carrying my Mark sheets and Certificates.

Thanks & Regards

Son(............)

ia an additional credit card holder liable for the whole debt of the credit card account

Can a debt collector call a place of employment and demand to speak with the debtor?

You can take your personal property, anything that is not attached to the real estate such as furniture, area rugs, tools, portable air conditioners, phones, computers, appliances that are not built-ins, etc. Of course you may take all your personal property such as your kitchenware, clothes, TVs, tools, furniture, plug in lamps, etc. You may not take built in appliances or bookcases, installed floor coverings, window shades, plumbing fixtures, light fixtures, towel bars, kitchen cabinets, awnings, permanently affixed air conditioning units, etc.

This list is open to modifications.

Answer: through the commercial law league. The various publications, such as, ALQ & Forwarders list of attorneys list the requirements per state as to bonding and licensing. Some states do not require a bond. It also my understanding that is must be done for each state individually. Answer: through the commercial law league. The various publications, such as, ALQ & Forwarders list of attorneys list the requirements per state as to bonding and licensing. Some states do not require a bond. It also my understanding that is must be done for each state individually.

That means that the cross claimant in the lawsuit was granted a judgment against the cross defendant(s). If the judgment is not satisfied in full immediately, the property in jeopardy will be foreclosed upon.

It usually depends on a Mortgage Bank and also on the individuals previous credit ratings.

NO....... Collection Accounts are NOT open accounts feel free to stop by www.debtorboards.com and do a search on OPEN it will explain alot

Your mortgage company does not have the right to seize anything. They do have the right to go through a legal process and sue you for the balance. They may place a lien on other property you own, choose to garnish wages or a variety of other methods to collect. They are not able to seize.

Try the web page of the U.S. Postal Service: www.usps.com.

Az state credit union has a program where you can buy just 6 mo after a forclosure if you have 20% down and are current on all other bills.

if you do not owe it, they shouldn't be able to collect it anywhere. even if its past the deadline for you to contest the bill you should still try