What debt reduction /consolidation agency that will give high discount to help pay off credit card debts?
Q. I need help with paying off my credit card debts. There are so many debt reduction /consolidation agencies that I don't know which one is good/authentic and will give the best rate (discount). For those who had gone through this experience, please advise. Thanks.
Asked by hayati k - Sun May 3 07:46:52 2009 - - 6 Answers - 0 Comments
A. I wouldn't use any of them they are rip off artists. They take your money and do nothing, been there done that. Go to Consumer Counseling, in every city or county, it is free, non profit and they don't charge but they will contact all the places you owe money to and get you with lower payments and great ways of getting out of debt !! They are well known by all companies and acknowledge Consumer Credit Counseling as serious and good to work with .
Answered by silly willy - Sun May 3 07:51:25 2009
Q. I need help with paying off my credit card debts. There are so many debt reduction /consolidation agencies that I don't know which one is good/authentic and will give the best rate (discount). For those who had gone through this experience, please advise. Thanks.
Asked by hayati k - Sun May 3 07:46:52 2009 - - 6 Answers - 0 Comments
A. I wouldn't use any of them they are rip off artists. They take your money and do nothing, been there done that. Go to Consumer Counseling, in every city or county, it is free, non profit and they don't charge but they will contact all the places you owe money to and get you with lower payments and great ways of getting out of debt !! They are well known by all companies and acknowledge Consumer Credit Counseling as serious and good to work with .
Answered by silly willy - Sun May 3 07:51:25 2009
How does a bankruptcy in Ireland affect debts created in the United States?
Q. Some types of debts are not dischargeable in the US such as student loan debts. Some are easily discharged such as credit card debt. How does a bankruptcy in the Rep of Ireland affect foreign debts?
Asked by The Skelly - Fri Feb 1 15:25:55 2008 - - 4 Answers - 0 Comments
A. No effect at all both different countries with no connections in this type of thing at all no country can impose any law in another country if you bankrupt in one country you will still owe money in the other
Answered by confucious says - Fri Feb 1 15:35:08 2008
Q. Some types of debts are not dischargeable in the US such as student loan debts. Some are easily discharged such as credit card debt. How does a bankruptcy in the Rep of Ireland affect foreign debts?
Asked by The Skelly - Fri Feb 1 15:25:55 2008 - - 4 Answers - 0 Comments
A. No effect at all both different countries with no connections in this type of thing at all no country can impose any law in another country if you bankrupt in one country you will still owe money in the other
Answered by confucious says - Fri Feb 1 15:35:08 2008
What happens to your debts when you become disabled?
Q. If you become disabled and can't work, and fall way behind on your bills, what happens? Then if you finally get on permanent disability and it still isn't enough to pay those bills, what happens to your unpaid debts?
Asked by kathleenjohnson - Tue Jan 8 16:37:41 2008 - - 2 Answers - 0 Comments
A. Your bills pile up high.
Answered by floridaman39us - Tue Jan 8 16:40:16 2008
Q. If you become disabled and can't work, and fall way behind on your bills, what happens? Then if you finally get on permanent disability and it still isn't enough to pay those bills, what happens to your unpaid debts?
Asked by kathleenjohnson - Tue Jan 8 16:37:41 2008 - - 2 Answers - 0 Comments
A. Your bills pile up high.
Answered by floridaman39us - Tue Jan 8 16:40:16 2008
Will my past debts become a burden to my fiancee once we are married?
Q. I am currently engaged to my fiancee. I have a foreclosed house and a car that got repoed, I owe back taxes on the property and thousands on the car not mention other credit card debts. My question is, when I get married, will my past debts NOW become my wife's debts? Will she become responsible for the money owed?
Asked by emarketingguyz - Mon Sep 14 14:36:51 2009 - - 19 Answers - 0 Comments
A. yes, they will.
Answered by XRatedMisfit - Mon Sep 14 14:41:19 2009
Q. I am currently engaged to my fiancee. I have a foreclosed house and a car that got repoed, I owe back taxes on the property and thousands on the car not mention other credit card debts. My question is, when I get married, will my past debts NOW become my wife's debts? Will she become responsible for the money owed?
Asked by emarketingguyz - Mon Sep 14 14:36:51 2009 - - 19 Answers - 0 Comments
A. yes, they will.
Answered by XRatedMisfit - Mon Sep 14 14:41:19 2009
If your debts are with third party collection agencies, is there a way to work with them?
Q. They always want the full amount or a breakdown in a short period ,which if you couldn't obviously can't pay monthly, is virtually impossible. Gone thru debt management but fell out after 2 years due to unemployment. The debts are now 3 to 4 years old. What is the statute for California?
Asked by Hope - Sat Feb 2 09:00:59 2008 - - 3 Answers - 0 Comments
A. California Statutes of Limitation Written agreements: 4 years, calculated from the date of breach. Oral agreements: 2 years. The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period. It looks like these debts are beyond the limitations, hence the reason why they want a payment, to stop the clock from running. It appears they cannot take you to court to collect, all they can do is try and collect. You could just wait it out. They will be deleted from your credit report after 7 yrs and 180 days from the date of the last missed payment. Here are some links to help Information on time barred debts.
Answered by Sgt Big Red - Sat Feb 2 09:10:38 2008
Q. They always want the full amount or a breakdown in a short period ,which if you couldn't obviously can't pay monthly, is virtually impossible. Gone thru debt management but fell out after 2 years due to unemployment. The debts are now 3 to 4 years old. What is the statute for California?
Asked by Hope - Sat Feb 2 09:00:59 2008 - - 3 Answers - 0 Comments
A. California Statutes of Limitation Written agreements: 4 years, calculated from the date of breach. Oral agreements: 2 years. The statute of limitation is stopped only if the debtor makes a payment on the account after the expiration of the applicable limitations period. It looks like these debts are beyond the limitations, hence the reason why they want a payment, to stop the clock from running. It appears they cannot take you to court to collect, all they can do is try and collect. You could just wait it out. They will be deleted from your credit report after 7 yrs and 180 days from the date of the last missed payment. Here are some links to help Information on time barred debts.
Answered by Sgt Big Red - Sat Feb 2 09:10:38 2008
If I start paying off old debts, will my credit score intially get worse before it gets better?
Q. I have often heard that since older accounts don't affect your score as much as newer ones, that paying off old debts that have been neglected will actually initially make your score worse since these bad debts become current due to recent activity. I know that paying these off will obviously help in the long term, but will the score actually get worse before it gets better? FYI...the particular debts are credit card debts that were either charged off or in the hands of collection agencies. Nothing has been paid on them in about 4-5 years (long story how it got to that point), but now I am ready to start catching up.
Asked by Ryan J - Tue Aug 28 16:08:36 2007 - - 6 Answers - 0 Comments
A. When an account is "charged off" it's the same as the creditor "cancelling" the debt. In other words they decided they weren't going to get the money from you so they hit you with one last BIG ding (the charge-off status) and then write the debt off. If you begin making payments to them they will probably NOT report them to the bureas. Why? Creditors pay a fee to list something on a persons report. You're not worth the fee to them anymore since you aren't paying them interest on the accounts AND you'll probably never get a credit card from them again (or at least for a long time). So by paying them off, you might be soothing your conscience, but once the debt is paid off you're probably going to have to "dispute" it and provide proof of… [cont.]
Answered by Leslie K - Tue Aug 28 17:04:54 2007
Q. I have often heard that since older accounts don't affect your score as much as newer ones, that paying off old debts that have been neglected will actually initially make your score worse since these bad debts become current due to recent activity. I know that paying these off will obviously help in the long term, but will the score actually get worse before it gets better? FYI...the particular debts are credit card debts that were either charged off or in the hands of collection agencies. Nothing has been paid on them in about 4-5 years (long story how it got to that point), but now I am ready to start catching up.
Asked by Ryan J - Tue Aug 28 16:08:36 2007 - - 6 Answers - 0 Comments
A. When an account is "charged off" it's the same as the creditor "cancelling" the debt. In other words they decided they weren't going to get the money from you so they hit you with one last BIG ding (the charge-off status) and then write the debt off. If you begin making payments to them they will probably NOT report them to the bureas. Why? Creditors pay a fee to list something on a persons report. You're not worth the fee to them anymore since you aren't paying them interest on the accounts AND you'll probably never get a credit card from them again (or at least for a long time). So by paying them off, you might be soothing your conscience, but once the debt is paid off you're probably going to have to "dispute" it and provide proof of… [cont.]
Answered by Leslie K - Tue Aug 28 17:04:54 2007
What is my legal obligation to settle my parents debts when they die?
Q. I am the adult son of free-spending, 74-year-old parents who are likely to leave considerable debt upon their deaths. If they were to die tomorrow, what is my legal obligation to settle their debts if their estate has negative net worth?
Asked by bigdawg46 - Sun Jun 22 13:10:34 2008 - - 12 Answers - 0 Comments
A. Zero. If, and not wishing it on your parents here, just an example, they both were to pass over tomorrow? Their debts are now part of the probate process. Their heirs will open a probate action for their estate, and all their creditors have the right to file a claim against their remaining assets. Any that are validated are paid out of the assets, and the remaining assets distributed to the heirs. If there's no assets, they don't get paid. Period. NEVER co-sign anything for your parents at this point, and don't have your name on any of the deeds of property as a co-owner. :) Just a word to the wise. And, unfortunately, the creditors know all this, but they still get in touch with the heirs and try to harass them into paying the… [cont.]
Answered by my avatar's hot! - Sun Jun 22 13:17:42 2008
Q. I am the adult son of free-spending, 74-year-old parents who are likely to leave considerable debt upon their deaths. If they were to die tomorrow, what is my legal obligation to settle their debts if their estate has negative net worth?
Asked by bigdawg46 - Sun Jun 22 13:10:34 2008 - - 12 Answers - 0 Comments
A. Zero. If, and not wishing it on your parents here, just an example, they both were to pass over tomorrow? Their debts are now part of the probate process. Their heirs will open a probate action for their estate, and all their creditors have the right to file a claim against their remaining assets. Any that are validated are paid out of the assets, and the remaining assets distributed to the heirs. If there's no assets, they don't get paid. Period. NEVER co-sign anything for your parents at this point, and don't have your name on any of the deeds of property as a co-owner. :) Just a word to the wise. And, unfortunately, the creditors know all this, but they still get in touch with the heirs and try to harass them into paying the… [cont.]
Answered by my avatar's hot! - Sun Jun 22 13:17:42 2008
what are the rules about debts that have been sent to collection agencies?
Q. Are debts void after 7 years? I have a collection agency calling me several times a day and the debt is coming up on 7 years old. I refuse to pay it because it is from a video store that says I didn't return a movie. It never happened. I disputed the debt in writing years ago but it made no difference. What do I do?
Asked by Annie - Wed Apr 16 23:37:05 2008 - - 5 Answers - 0 Comments
A. Yes, negative accounts should be removed after 7 years but you may need to request it. It's best to get a copy of your credit report (you can get one free report each year from each of the three reporting agencies) to review the account in question. It's best to correct the matter with the account holder directly, but if that does not work and it is 7 years old: Send a copy of your correspondence to the video company to each of the three reporting agencies. Include your drivers license with your ssn and a letter noting your dispute and the age of the account. It may take some time, but the agencies are required to fix it. Also note, if the account was sold, they may consider the 7 years to start from the new account... Good luck.
Answered by Milosc Leprechaun - Wed Apr 16 23:56:23 2008
Q. Are debts void after 7 years? I have a collection agency calling me several times a day and the debt is coming up on 7 years old. I refuse to pay it because it is from a video store that says I didn't return a movie. It never happened. I disputed the debt in writing years ago but it made no difference. What do I do?
Asked by Annie - Wed Apr 16 23:37:05 2008 - - 5 Answers - 0 Comments
A. Yes, negative accounts should be removed after 7 years but you may need to request it. It's best to get a copy of your credit report (you can get one free report each year from each of the three reporting agencies) to review the account in question. It's best to correct the matter with the account holder directly, but if that does not work and it is 7 years old: Send a copy of your correspondence to the video company to each of the three reporting agencies. Include your drivers license with your ssn and a letter noting your dispute and the age of the account. It may take some time, but the agencies are required to fix it. Also note, if the account was sold, they may consider the 7 years to start from the new account... Good luck.
Answered by Milosc Leprechaun - Wed Apr 16 23:56:23 2008
How can a company that talks people into paying debts that they are not responsible for be reported?
Q. This is a company that collects on deceased person's debt. They talk family members into paying debts that they are not legally responsible for. The company does not tell them that they are not legally responsible either. The company takes advantage of people at a very vunerable time in their lives.
Asked by jan b - Tue Jul 22 20:14:50 2008 - - 1 Answers - 0 Comments
A. Contact the state attorney general's office in both the state in which the company is based and in any state in which they've collected those debts.
Answered by I Buy And Sell Houses - Tue Jul 22 21:00:47 2008
Q. This is a company that collects on deceased person's debt. They talk family members into paying debts that they are not legally responsible for. The company does not tell them that they are not legally responsible either. The company takes advantage of people at a very vunerable time in their lives.
Asked by jan b - Tue Jul 22 20:14:50 2008 - - 1 Answers - 0 Comments
A. Contact the state attorney general's office in both the state in which the company is based and in any state in which they've collected those debts.
Answered by I Buy And Sell Houses - Tue Jul 22 21:00:47 2008
Why are so many people in debt? How will they cope when their debts are recalled?
Q. I have nothing to write home about and live hand to mouth, but I am not in debt and only buy something if I have the money. Why are people not worried about the debts they incurr? I wouldn't be able to sleep with worry if I owed any money to anyone.
Asked by MindyMoo - Thu Jul 13 21:16:43 2006 - - 8 Answers - 0 Comments
A. People get into debt for many reasons. Some get into debt because they can't control their spending, which is something negative. However, some people get in debt to build their credit rating. If you use your credit, pay bills ontime, and over a period of time keep getting favorable ratings, your score goes up and up! This leads to certain benifits like the ability to get loans easier, lower interest rates, and less worry about finances. However, it takes careful planning and you definitely need patience and self-control. You have to be very smart and think of ways to build your credit without taking on too much debt though. I don't have any trouble sleeping when I am in debt- as long as I know I have a solid plan to achieve my… [cont.]
Answered by jeremyworldwidejp - Thu Jul 13 21:27:00 2006
Q. I have nothing to write home about and live hand to mouth, but I am not in debt and only buy something if I have the money. Why are people not worried about the debts they incurr? I wouldn't be able to sleep with worry if I owed any money to anyone.
Asked by MindyMoo - Thu Jul 13 21:16:43 2006 - - 8 Answers - 0 Comments
A. People get into debt for many reasons. Some get into debt because they can't control their spending, which is something negative. However, some people get in debt to build their credit rating. If you use your credit, pay bills ontime, and over a period of time keep getting favorable ratings, your score goes up and up! This leads to certain benifits like the ability to get loans easier, lower interest rates, and less worry about finances. However, it takes careful planning and you definitely need patience and self-control. You have to be very smart and think of ways to build your credit without taking on too much debt though. I don't have any trouble sleeping when I am in debt- as long as I know I have a solid plan to achieve my… [cont.]
Answered by jeremyworldwidejp - Thu Jul 13 21:27:00 2006
What do you do with debts if someone dies with no assets?
Q. A friend of mine lost both mother and father who have no assets. They did not have any real estate, no bank accounts, they lived in an apartment. They do have credit card debts. Are the siblings responsible for any of the debts?
Asked by A - Tue Jan 27 18:06:07 2009 - - 4 Answers - 0 Comments
A. No she is not. Did they have will? Is she the only heir? She needs to talk to the clerk of the court who handles Probate for the the county in which her parents died. She will need to probate the estates of both her mother and father (separately, most likely) and in the process notify all of the debtors (credit card companies) that there are no assets to pay the bills and they are noncollectable.
Answered by MVD34 - Tue Jan 27 18:12:45 2009
Q. A friend of mine lost both mother and father who have no assets. They did not have any real estate, no bank accounts, they lived in an apartment. They do have credit card debts. Are the siblings responsible for any of the debts?
Asked by A - Tue Jan 27 18:06:07 2009 - - 4 Answers - 0 Comments
A. No she is not. Did they have will? Is she the only heir? She needs to talk to the clerk of the court who handles Probate for the the county in which her parents died. She will need to probate the estates of both her mother and father (separately, most likely) and in the process notify all of the debtors (credit card companies) that there are no assets to pay the bills and they are noncollectable.
Answered by MVD34 - Tue Jan 27 18:12:45 2009
How do you pay off your debts in Football Manager 2009?
Q. Right, i am playing as Valencia and on the finances page it says the club is 40million in debt and are paying 40,000 a week for so many years in order to pay it off. I have sold Raul Albiol, Baraja, Fernando Moreintes and Angulo and i have a transfer budget of just above 50million. Basically, can i use the transfer money to pay off the clubs debts?
Asked by Paul - Sun Jun 14 23:28:56 2009 - - 2 Answers - 0 Comments
A. I think this should be done automatically by the system, it just takes some time? By the way, if you ever want to try a great free online game, join Trophy Manager! :) I've been playing for two years and I think this is the best game ever. :) www.trophymanager.com/ind ex.php?ref= Input '134145' after = (Yahoo does not allow direct links...). :)
Answered by Joe Moe 66 - Tue Jun 16 13:36:16 2009
Q. Right, i am playing as Valencia and on the finances page it says the club is 40million in debt and are paying 40,000 a week for so many years in order to pay it off. I have sold Raul Albiol, Baraja, Fernando Moreintes and Angulo and i have a transfer budget of just above 50million. Basically, can i use the transfer money to pay off the clubs debts?
Asked by Paul - Sun Jun 14 23:28:56 2009 - - 2 Answers - 0 Comments
A. I think this should be done automatically by the system, it just takes some time? By the way, if you ever want to try a great free online game, join Trophy Manager! :) I've been playing for two years and I think this is the best game ever. :) www.trophymanager.com/ind ex.php?ref= Input '134145' after = (Yahoo does not allow direct links...). :)
Answered by Joe Moe 66 - Tue Jun 16 13:36:16 2009
What to do about debts that were not listed on orginal bankruptsy that has now been discharged?
Q. Found these old debts when closed on residence. Two judgements. Mortgage holder still let me close but said it could be a problem when/if I sell residence.
Asked by CHARLEY - Tue Sep 29 09:22:27 2009 - - 4 Answers - 0 Comments
A. Nothing much that you can do now, other than pay them off.
Answered by Bostonian In MO - Tue Sep 29 09:40:01 2009
Q. Found these old debts when closed on residence. Two judgements. Mortgage holder still let me close but said it could be a problem when/if I sell residence.
Asked by CHARLEY - Tue Sep 29 09:22:27 2009 - - 4 Answers - 0 Comments
A. Nothing much that you can do now, other than pay them off.
Answered by Bostonian In MO - Tue Sep 29 09:40:01 2009
What company should I use to consolidate all my credit card debts?
Q. There's so many companies out there that's willing to consolidate my debts but which one does it the best?
Asked by knight d - Tue Jun 24 00:08:32 2008 - - 4 Answers - 0 Comments
A. I guess I would just make sure you are consolidating in the right way. Make sure you are paying a lower rate and there aren't any hidden fees with your new consolidation loan. You also want to make sure the rate can't jump up suddenly, which can leave you in a worse situation than before you consolidated. It's definitely not the only way, but if you are a home owner, you could consider a home equity loan or a refinance to pay off your debt. You'll certainly get a much better rate (average mortgage rates are probably somewhere between 6 and 7 percent right now, compared with credit cards that are usually well over 10 percent) and you'll be able to get a tax deduction for the interest you pay on your new mortgage. That's a huge benefit of… [cont.]
Answered by Quizzle - Thu Jun 26 14:43:19 2008
Q. There's so many companies out there that's willing to consolidate my debts but which one does it the best?
Asked by knight d - Tue Jun 24 00:08:32 2008 - - 4 Answers - 0 Comments
A. I guess I would just make sure you are consolidating in the right way. Make sure you are paying a lower rate and there aren't any hidden fees with your new consolidation loan. You also want to make sure the rate can't jump up suddenly, which can leave you in a worse situation than before you consolidated. It's definitely not the only way, but if you are a home owner, you could consider a home equity loan or a refinance to pay off your debt. You'll certainly get a much better rate (average mortgage rates are probably somewhere between 6 and 7 percent right now, compared with credit cards that are usually well over 10 percent) and you'll be able to get a tax deduction for the interest you pay on your new mortgage. That's a huge benefit of… [cont.]
Answered by Quizzle - Thu Jun 26 14:43:19 2008
How to pay my debts as soon as possible?
Q. I live in the UAE and I have around US $ 110,000 debts. I pay each month more than 65% of my salary. But it never ends. I feel that I'm having more debts each time. I was trying to settle this down with the bank but according to the law in the UAE it is not possible. I have to pay the 65% and still feel that i have all this amount to pay. Please any tips or information will help. I really need to pay the debts as soon as possible.
Asked by Angel Mokka - Mon May 12 06:08:11 2008 - - 3 Answers - 0 Comments
A. Hi, I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
Answered by Jennifer - Thu May 15 15:48:37 2008
Q. I live in the UAE and I have around US $ 110,000 debts. I pay each month more than 65% of my salary. But it never ends. I feel that I'm having more debts each time. I was trying to settle this down with the bank but according to the law in the UAE it is not possible. I have to pay the 65% and still feel that i have all this amount to pay. Please any tips or information will help. I really need to pay the debts as soon as possible.
Asked by Angel Mokka - Mon May 12 06:08:11 2008 - - 3 Answers - 0 Comments
A. Hi, I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58% .It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
Answered by Jennifer - Thu May 15 15:48:37 2008
What would happen if all the debts in the world were to be paid off?
Q. I was wondering what would happen if all the debts in the world were to be paid off? I know its a very hypothetical situation, but still what do you think would happen?
Asked by avi - Mon Dec 22 05:31:07 2008 - - 5 Answers - 0 Comments
A. People wouldn't have any investments. By that I mean, investment banks exist to maybe give out corporate bonds to people who want to save or people would traditionally save but banks wouldn't have any need for it to loan out. Interest rates would be nothing because no one is borrowing.
Answered by nothingconstant - Mon Dec 22 10:22:09 2008
Q. I was wondering what would happen if all the debts in the world were to be paid off? I know its a very hypothetical situation, but still what do you think would happen?
Asked by avi - Mon Dec 22 05:31:07 2008 - - 5 Answers - 0 Comments
A. People wouldn't have any investments. By that I mean, investment banks exist to maybe give out corporate bonds to people who want to save or people would traditionally save but banks wouldn't have any need for it to loan out. Interest rates would be nothing because no one is borrowing.
Answered by nothingconstant - Mon Dec 22 10:22:09 2008
When is the best day of the week and time to collect unpaid debts?
Q. Statistically speaking. I have to collect on unpaid debts or I loose commission at my job. I would like to know the optimal time and day of the week to attempt to collect on the outstanding balances.
Asked by gigi bott - Fri Aug 10 12:23:43 2007 - - 2 Answers - 0 Comments
A. The people you work for cannot give you any suggestions? That is odd. Usually, collection agencies have training before they allow people to try to collect for them. There are laws that need to be understood and important techniques that have to be learned. To allow a newbie to just sit down and start calling is just asking to lose money. I would check with your manager and see what that person has to advise you.
Answered by A.Mercer - Fri Aug 10 16:59:39 2007
Q. Statistically speaking. I have to collect on unpaid debts or I loose commission at my job. I would like to know the optimal time and day of the week to attempt to collect on the outstanding balances.
Asked by gigi bott - Fri Aug 10 12:23:43 2007 - - 2 Answers - 0 Comments
A. The people you work for cannot give you any suggestions? That is odd. Usually, collection agencies have training before they allow people to try to collect for them. There are laws that need to be understood and important techniques that have to be learned. To allow a newbie to just sit down and start calling is just asking to lose money. I would check with your manager and see what that person has to advise you.
Answered by A.Mercer - Fri Aug 10 16:59:39 2007
Do debts go to one collection agency to another without going back to the original creditor?
Q. Do debts go to one collection agency to another without going back to the original creditor? or after a collection agency can't get your money do they just sell it to another collection agency? or does it always go back to the original creditor after the collection agency fails to get the money?
Asked by CatherineNickName - Mon Apr 6 21:22:17 2009 - - 9 Answers - 0 Comments
A. The original creditor can either hire a third party to collect the debt and pay a commission. This means the original creditor still has legal rights to the debt. If the original creditor charges off the debt or sells is off, they then loose ownership of the debt. Many collection agencies will take a stab at collecting the debt, if they get nowhere, they turn around and sell it to someone else. You can find portfolios of bad debts for sale at the following web site The amount that companies pay for bad debt depends on the type of account and its age. In general Debts that have recently been charged off: 6 to 7 cents on the dollar. Accounts that are slightly older and one that other collection agencies have already tried to collect… [cont.]
Answered by Sgt Big Red - Mon Apr 6 21:37:47 2009
Q. Do debts go to one collection agency to another without going back to the original creditor? or after a collection agency can't get your money do they just sell it to another collection agency? or does it always go back to the original creditor after the collection agency fails to get the money?
Asked by CatherineNickName - Mon Apr 6 21:22:17 2009 - - 9 Answers - 0 Comments
A. The original creditor can either hire a third party to collect the debt and pay a commission. This means the original creditor still has legal rights to the debt. If the original creditor charges off the debt or sells is off, they then loose ownership of the debt. Many collection agencies will take a stab at collecting the debt, if they get nowhere, they turn around and sell it to someone else. You can find portfolios of bad debts for sale at the following web site The amount that companies pay for bad debt depends on the type of account and its age. In general Debts that have recently been charged off: 6 to 7 cents on the dollar. Accounts that are slightly older and one that other collection agencies have already tried to collect… [cont.]
Answered by Sgt Big Red - Mon Apr 6 21:37:47 2009
Is it legal for collection agencies or medical debts to garnish yor social security checks?
Q. I have a lot of medical debts, the only income I have is social security disability. This is what I live on. If anyone were to garnish my wages it would be a disaster.
Asked by riggs - Wed Aug 13 05:55:40 2008 - - 2 Answers - 0 Comments
A. Hello Riggs, In this case, No. Section 207 of the Social Security Act provides: "The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law." However, section 6331 of the Internal Revenue Code of 1954 (26 U.S.C. 6331) which was enacted into law on August 16, 1954, after the enactment of section 207, gives the Secretary of the Treasury the right to levy or seize for collection of delinquent Federal taxes, property, rights to property, whether real or personal,… [cont.]
Answered by Nick H - Wed Aug 13 07:08:27 2008
Q. I have a lot of medical debts, the only income I have is social security disability. This is what I live on. If anyone were to garnish my wages it would be a disaster.
Asked by riggs - Wed Aug 13 05:55:40 2008 - - 2 Answers - 0 Comments
A. Hello Riggs, In this case, No. Section 207 of the Social Security Act provides: "The right of any person to any future payment under this title shall not be transferable or assignable, at law or in equity, and none of the moneys paid or payable or rights existing under this title shall be subject to execution, levy, attachment, garnishment, or other legal process, or to the operation of any bankruptcy or insolvency law." However, section 6331 of the Internal Revenue Code of 1954 (26 U.S.C. 6331) which was enacted into law on August 16, 1954, after the enactment of section 207, gives the Secretary of the Treasury the right to levy or seize for collection of delinquent Federal taxes, property, rights to property, whether real or personal,… [cont.]
Answered by Nick H - Wed Aug 13 07:08:27 2008
What can I do to REALLY get old debts removed from my credit report?
Q. All of the debts have been paid in FULL and they are not to the 7 year mark for them to fall off but this is REALLY making it hard for me to be able to buy a home! I have all of the letters as proof of corrections/payments but collectors are just not willing to help! Please help, thanks.
Asked by Kristina M - Fri Mar 21 05:53:53 2008 - - 5 Answers - 0 Comments
A. well what you should have done is what they call a "pay for deletion" basically where you make a deal with collections before you send them a penny that they will delete their entry on your credit report completely when you send them the money, and be sure to get it that in writing. Although it sounds like you are past that point. Don't know what you could do except maybe call collections and lie to them and claim that the representative had claimed to delete it when you paid it.
Answered by Jeff - Fri Mar 21 06:04:17 2008
Q. All of the debts have been paid in FULL and they are not to the 7 year mark for them to fall off but this is REALLY making it hard for me to be able to buy a home! I have all of the letters as proof of corrections/payments but collectors are just not willing to help! Please help, thanks.
Asked by Kristina M - Fri Mar 21 05:53:53 2008 - - 5 Answers - 0 Comments
A. well what you should have done is what they call a "pay for deletion" basically where you make a deal with collections before you send them a penny that they will delete their entry on your credit report completely when you send them the money, and be sure to get it that in writing. Although it sounds like you are past that point. Don't know what you could do except maybe call collections and lie to them and claim that the representative had claimed to delete it when you paid it.
Answered by Jeff - Fri Mar 21 06:04:17 2008
From Yahoo Answer Search: 'debts'
Wed Feb 24 22:46:18 2010 [ refresh local cache ]
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Debt Management News at Debt Fixers
Consumers could have their credit card debts repaid more than a decade earlier than expected thanks to new government legislation. ...
Banks could limit credit card lending if new rules come into force Think Money
No way out of 'cheapest debt first' credit cards MyFinances.co.uk
Saga: Credit card providers should make it easier for people to pay off debts CardSmart.co.uk
Finance Markets (blog)
all 23 news articles »
supernetfinance.co.cc
unknown
Wed, 17 Feb 2010 13:44:36 GM
In the good old days when money grew on trees, we could all afford most of the things we wanted when we wanted them. With credit like a tap to release a flood.
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