Debt Collection

They need to provide the signed agreement copies to you and the proof that they purchased debt. Please check FDCPA guidelines for more details. Go to ftc.gov and you will find a copy of FDCPA there.

Yes. One of the great myths is that consumer credit card protection eliminates expensive litigation. I know about this because I won a credit card dispute against U.C. Davis Vet Med Teaching Hospital, I received the chargeback and they sued me anyway over one year later -- after the statute of limitations ran out for me to sue them for malpractice. I was told by a congressional aide that congress purposely left this hole in the consumer credit card protection laws to protect big business. BTW, there is literally no discussion of this fact/injustice on the Internet. I wonder why????

third world countries which are in debt to countries which have more money and material.

Third world is when devolving countries are in debt. countries like Africa which have no money or materials .

Yes your bank account can be levied for a credit card debt in texas. They CANNOT garnish your wages but they can levy your bank account if they sue you and get a default judgement. I found this out the hard way. My husband had stopped paying on a credit card in 2006 and we received a notice 12/2009 that they were suing him but was not aware of what they could really do besides put it on his credit. They froze every account with his name and social attached to it.

Depending on what state you are in they will work with you for a series of months to get things on track for you. Ultimately, foreclosure is the bank realizing that they will no longer be able to get funds from you. If you are still in the early days of not being able to pay you should see if the bank will take a short sale. This allows the bank to take a price of the house that will close the gap of what you owe. For instance, if you owe $200,000 and can only sell it for $180,000; you only owe the $20,000 difference which is light years ahead of $200,000. If you have any more questions about the process please contact girlstripe3@hotmail.com.

It is not the homeowners themselves who file foreclosure on a house, nor do they decide when to file the paperwork, nor do they decide how it will be pursued in the local court system. All of these aspects are determined by the lenders and creditors who have liens on the house to begin with. To begin foreclosure, all the homeowner has to do is stop paying the mortgage, whether this is the first mortgage, second mortgage, home equity line of credit, or other lien on the house.

So, if homeowners stop sending in the monthly payment to the first mortgage, after a period of time (typically 3-6 months in a row of missed payments), the lender will automatically begin the foreclosure process. It will hire local attorneys to initiate the lawsuit and have the paperwork served on the homeowners. The actual owners themselves do not have to do anything besides miss their mortgage payments -- the mortgage company will begin the foreclosure process with or without any further input from the borrowers.

The same works if the homeowners stop paying their second mortgage or any other junior liens. Even if they keep up on the first mortgage payments, the second lien holder will eventually sue the owners for foreclosure and attempt to have the house auctioned off. There may be little chance that the second mortgage company will receive much from the sheriff sale of a house, since properties typically sell for not even enough to pay off the first lien, but the lender will not wait forever for the owners to get back on track. Eventually, it will be better to take the loss, write off the loan, and take any write-offs that are available.

In the case of homeowners who stop paying on both or all mortgages at once, it is usually the first mortgage that will file for foreclosure first. If the homeowners do not find a solution to stop foreclosure, then it is likely that the junior lien holders will simply let the house go and write off their loans. In most instances, the sheriff sale will not generate enough proceeds to pay off the first mortgage in full, and other liens will not be paid off at all. There may be a small chance of being sued afterwards for a deficiency judgment, but this is a somewhat remote possibility.

I'm pretty sure you have to hold the title or hold the mortgage on a property to be the owner, which would be individual for each home. The only entities who can take your home or property (as far as I know) are the gov't (rights-of-way, easements, fed loans)and mortgage holders, who would be paid according to their place in the mortgage hierarcy (1st, 2nd etc) and then there are mechanic's liens (monetary holds placed on properties by contractors who didn't get paid). As long as you keep current on the other property, I don't see a problem. But I am not a realtor: I have just been run over the coals a few times.

No. Authorized Users are NOT liable for the debt, only the PRIMARY on the account is liable.

24 x 3 equation = 24 + 24 + 24 = 72

24 multiplied by 3 has 24 added 3 times.

Time is not the real solution to improving credit, although it does make some of the issues go away. To do this, obtain a full copy of your credit report. From there, look at your accounts and your payment history. Make sure that from now on you make payments on time, with no lates. Pay down all accounts so that you are not using all the money available to you to borrow. If you have good, paid accounts, do not close them: you need at least four of these. Make sure that you also pay housing and utilities on time.

Hate to tell you, but in my state (WA), if a senior deed of trust or mortgage is foreclosed, then the inferior/junior mortgages and/or deeds of trust are foreclosed as well. That means that you have no recourse subsequent to a foreclosure. I suggest seeing an attorney immediately (see the phone book for one who gives "free consultations").

In almost every state, the answer is "NO".

The maximum amount that may be held from a person's weekly wages, after withholdings required by law, is the lesser of: 1. 25% of the wages, 2. 10%, if the person is head of a family and a Missouri resident, or 3. The amount by which the weekly earnings exceed thirty times the federal minimum hourly wage. Mo. Rev. Stat. §525.030. Note: Child support garnishment may be subject to a higher percentage of deduction.

The statute of limitation for unpaid credit cards in N.Y. is 7 years.

No way! Why would your parents have to pay your bills? There is no law that says they have to take over your bills in case of death. No such law exists. Why would you think so? No way! Why would you think so? There is no law that says your parents have to pay the debts of their kids in the event of death. No such law exists.

Banks can not garnish a homeowner's wages during the foreclosure process. This is because the real estate is collateral for the loan.

Thus, the bank will have to take the property all the way through the foreclosure and have it sold at a county sheriff sale. This is the legal mechanism by which the bank is allowed to attempt to recover the amount it is owed on the loan. If the sheriff sale pays off the mortgage in full, there is nothing further to collect.

If the property does not sell for enough to pay the loan off completely, some states allow mortgage companies to sue for a deficiency judgment after the foreclosure. Again, not all states allow this under the foreclosure laws, but it would give banks the right to garnish wages after the foreclosure, if they decide to sue for the judgment.

Banks rarely, if ever, sue former clients for deficiency judgments, though, because they know foreclosure victims do not have a lot of extra cash to pay down another judgment after losing their homes. It would take the bank too much time and money to sue again, when they didn't collect very much on their original foreclosure lawsuit.

There are at least 5 states where a debt collector is prohibited from speaking to a spouse: Iowa, South Carolina, Massacgysetts, Pennsylvania, and Connecticut. With Iowa there is an exception, however. If the debt collector is initiating contact then they can't speak with them but if the spouse is initiating contact they can.

Outward bills for collection is a process in domestic sales where the bank collects payments. Export documents are presented by the seller of goods to the buyer's bank for payment.

If the person dies without a will, and if there is no other authorized signer on the card, the company would have to sue the estate. There are other issues that might need considerations. States that have community property laws would make the spouse responsible for debts incurred during the course of the marriage, in some states.

If you are being foreclosed on you likely have a lot of things on your mind. One of those things is to know how much time you have from the time you are foreclosed on until you need to be out. In Missouri that time is 80 days.

Technically, you have already ruined it. They are just going to report it. If that is what you mean by threaten to ruin your credit, then yes they can. Legally.

We have been researching this, too, and the only thing we have found so far is this consumers' association in the UK called "Which":

which@which.co.uk

We have not contacted them yet, so we don't know if they function just like the BBB or not. ---- Yes, there is a hugely popular Consumer Protection website in the UK.

It is called the Consumer Action Group.

Please see the bottom of the page for a weblink...

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Hope your not in that situation, but you can hold out until they come with a writ and a few heavies.

== == A Deragatory record is an account that has had a history of late payments. A collection account is an account that was not paid on time or at all, and was closed by the creditor and sold to a collection agency.