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C-Los | What can collection agencies do? |
A collection agency called my dad recently telling him that he owed $12000 and they threatened to take money off of his paycheck, his bank account, and even to take away his house and his cars, can they do this?
He used to own a trailer home but after two years he decided to leave it and to buy a house. After he bought the house he received a letter telling him that the mortage company of the trailer had sold the trailer at a lower price and that he had to pay the rest of the total value ($12000) but the problem is that he doesn't speak English and when he talked to the mortage agency about leaving the trailer they explained every single part of the contract to him in Spanish except the part where it says that he has to pay the difference of the total value of the trailer, which I think is not right. We talked to a legal advisor and he told us that my dad's new house had some kind of protection that the collection agency couldn't mess with, and that they couldn't take
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any money without a judge saying they could, and that they couldn't mess with his cars either. He said that my dad didn't have to pay them if he didn't want to and that it would only affect his credit. My dad already told the collection agency he didn't have the money to pay them and that they could do whatever they feel is necessary. What can the collection agency do now? |
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Jeff S
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The answer is it is possible. It depends on the state your Father resides. I suggest you read the Fair Debt Collections Practices Act.
Not to be rude, but whether the Mortgage company read the deficiency balance cause on the contract is not an issue. Frankly, the Mortgage Company has a signed contract with your Father. They are not responsible for being his Legal Counsel.
However, if misrepresentation can be proven, you might have a case.
Also, certain states do not allow liens on property or garnishments and collection agencies are bound by law to adhere to the more stringent statute, whether it be Federal, State, or Local.
In other words, a collector cannot threaten to take any action he does not intend to take or is prohibited from taking by law.
Also, even if laws do allow garnishments and liens, banks do not just throw persons out of their homes, they place liens on personal property that ensure they get paid if the property is sold.
Finally, if your Father entered into a contingency contract when he bought the house, he could be in legal trouble. Please have your Father consult an actual attorney.
Jeff
I am not an attorney. Information is for instructional purposes only. |
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youngboy1606
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Jeff has the best answer.
I'd add that your father more than likely does owe the money but even if the debtor gets a judgment, collecting it is a whole other story.
The collection agency is hoping that you know you owe the money and that your word is still good and you want to make good on an obligation YOU made.
Speak to a licensed attorney in the area where you are. It may cost a bit, couple hundred dollars, but you get what you pay for. I don't know what you mean by "legal advisor" and what their specialty is. I can just about assure you that for the kind of money 12K you are talking about it will be worth the debtor to go after your dad in court, especially with a signed contract.
The debtor speaks Spanish and is not going to say he failed to mention this one clause to your father. You admit in your question he "explained every single part". Are you 100% sure that he DIDN'T explain this one part to you? Plus its your responsibility to know what you are signing.
You can let this run it's course because at worse they will win a judgment. You may be able to work out payments at that time with them. I would guess however that after speaking with the attorney they will tell you it's unlikely you will win. If they tell you that moving forward with a lawsuit is going to add more costs on top of your debt because they are going to sue for their legal fees and they WILL be expensive.
If your attorney says you will lose I would suggest calling this debtor and whether you like it or not offer to make payments. They are going to be easier to deal with before they take you to court and maybe more amicable about settling this.
I'm guessing that these guys are using people like your father and gaming the system to take advantage of them. They know the law inside and out. Sadly that's the type of world we live in where people can take advantage of other people simply out of ignorance. Tell your father the next time someone is making a deal with him and they are putting their hand out to shake it and smiling to see what the other hand has in it. |
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Smartass
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They really can't do much other than continue to harass you and build interest on what you already owe, plus ruin your credit(bility), which in my opinion is no better than robbing your paycheck. |
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Feeling Mutual
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They cannot garnish his pay or bank accounts without a court judgment to do so.
The car can be repossessed only if the debt is for the car.
The house can be repossessed only if the debt is for the house.
He could file for Bankruptcy Protection, which would automatically stay all collection attempts.
He should speak with a Bankruptcy attorney about this, usually their initial consultation is free. |
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Peter T
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There is a whole lot that they can do and a whole lot they can't do. This is the link to the Federal Trade Commission website page that explains what debt collectors can and can't do.
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.shtm
There are probably additional legal limitations (Homestead provisions, etc) depending on what state you live in.
If he walked on the debt they had a right to sell the property for what ever they could get and apply it to the debt. He does owe the remaining unpaid portion and that will be controled by the contract that he signed. How they collect and what they can legally do is controlled by Federal and State law. |
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