 How doI get rid of bill collectors? |
| My adult daughter hasn't lived with us for more than 10 years, and whatever bill they are calling about has to be at LEAST that old. I tell them she hasn't lived here in 10 years and ... |
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 How to i file a complaint against bank of america teller? |
| Does anyone work at Bank of America? There was a really rude teller (apprently she's know for that), how do I go about complaining about her?... |
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 I was a co-signer on a car loan for my friend he paid all the payments on time for a year, but now no payment ? |
| i was a co-signer on a car loan for my friend he paid all the payments on time for a year, but he has not made payment for about a month, plus hes moved out to another state.. what can i do to get ... |
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 How do I get rid of my credit card debt? |
| I had some things happen to me, and depending on my cards for a while. I am only 1,750k in debt, which is really nothing compared to a lot of people. I am living on my own trying to save save save, ... |
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 Loan or Credit Card? |
I will shortly be purchasing a car and will need a loan of some sort to fund this. Which way is better:
To have a personal loan for £4000 over 2 years at a rate of approx 7.9%
T... |
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 Double up on your car payments or double up on your rent? |
| Which one is the wiser choice? If you could be ahead of the game as far as payments and you needed the security of paying ahead of time.... |
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 Hi,i aplied online for a bad credit loan they sent me a letter the other day which goes something like this? |
| we are pleased to inform you that your aplication has accepted,please send a cheque for £49 for brookers fees and prossessing your loan and we shall proccess your loan immedatly,does this mean i ... |
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 What's your idea of credit cards? |
| Some people have credit cards and get in dept, but overs get better credit.... |
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 What should I do to keep creditors from calling? |
| I am in a position that I won't be able to pay on two lines of credit. We're having a baby, we've cut down expenses to help with that, but w/ the credit card payments, we won't ... |
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 I have $20,000 in debt? |
| I have 20,000 in debt and I was wanting to do debt negotiation. I was wondering if that is all they say it is. I also wanted to know the best way to pay off this debt. I have switched all my cards to ... |
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 What is the best solution for credit card debt? |
What is the best solution for credit card debt?
I am way in over my head, I have 6 credit cards and I'm over $40,000 in debt. I have tried to take out a loan at the bank to consolidate but ... |
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 $125,000 Credit Card Debt? |
| We are a married couple, both are 32 year old, we lost jobs 2 years ago & came up with $125k unsecured debt. Now both are working & our monthly income is around $6k before tax, which is $4500 ... |
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 When's the best time to pay off your credit card debts? |
| I want to focus on buying a house soon, and raising my credit is my main priority. I just got a credit card, and want to know if I should pay my debts off little by little, or at the end of the ... |
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 Bad credit.. possible loan? |
| I have really bad credit and I would like to try to take out a loan to buy a used car.. with my credit, who can i go through and what can i do to get a loan? how much would i need to put down for a $5... |
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 Can I use my daughters social to buy a computer? |
| I want to buy a computer and my credit isn't all that good. I wanted to get a dell and they give you an option to get a credit card and pay monthly payments. My daughter is 3 months and she has ... |
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Wanting a Ferret | Do debts go away after 7 years? |
I work for the USAF and was tracked down by a law firm representing capital one. They are demanding money for a debt from almost 7 years ago. She claimed that since I cannot pay them that they will take money by "other means." Can they tap my small wages? I am worried that this is going to get put over to my first shirt and hurt my career. Any help would be great. |
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tuf2beme
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It depends on which State you live in but the usual stature is 5 years, at least where I am. Find out how long in your neck of the woods then tell them to pound sand, where the he** were they 7 years ago?!! The ONLY statute that does not expire is murder. |
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Steve
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no garnishment of wages without a court judgement. after 7years they probably cant one. next just let them know that if they dont get off your back you'll report them to the FTC. and you should file a complaint with them about this law firm anyway. also let them know that if they wish to contact you again they must do so in writing. (write them a simple note telling them just that. no stories. keep it simple. send it return receipt). they are a collection firm with some intimidation power. dont talk to them over the phone and dont write anything that could potentialy be used against you. |
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bull_rooster_aardvark
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Not exactly, but they become meaningless eventually. There is a statute of limitaions on how much time the company has to file a lawsuit (amount of time varies per state). There is also a limit on how long the company has to report the debt to the credit bureau. Once both these time limits run out the company (or whoever they sell the debt too) can keep calling you for ever, but if you refuse to pay there is really nothing they can do about it (except threaten "other means").
Here is info giving you the statute of limitations for different states.
http://www.cardreport.com/laws/statute-of-limitations.html
PS - Next time the company calls just tell them the statute of limitaions has run out (assuming it has), then tell them you won't pay, and ask them what these other means are. They may threaten you and talk about things but if they don't give you a specific answer they are bluffing - I guarantee it. |
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Al
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They can not collect after a certain amount of time. Sears tried to do that to me and took me to court. they lost, I won. The judge said you can not expect to collect after 5 years in RI. |
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OC1999
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A debt will only go away once you pay it. However, there are periods of time when the creditors can no longer do anything about it.
The first is the Statute of Limitations. This is the period of time they have to pursue legal means to get you to pay, such as law suits. It varies based on the state you live in, but is usually 2-6 years. So if you are close to 7 there is a good chance you are outside of the SOL. The link below gives you the SOL for each state.
The second is the time they can report it on your credit report. This is 7 years from the date of last delinquency. Once the 7 years has passed it can no longer be reported. This does not mean they can not contact you about the debt, it just means that they can not report it.
If you are outside the SOL and just about at the 7 years, you can basically send them a Cease and Desist letter to stop contacting you. Do this by certified mail with return receipt. If they contact you after they receive it you can sue them for violations of the Fair Debt Collections Practices Act(FDCPA). |
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fast eddie
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sit tight, dont respoond to them, if you respond it gives them crucial information i.e, they trhen know you are receiving their letters. if you dont respond then they are in the dark and do not know if you have received them. always remember they are a profit making business, they will 'buy' a debt (for example $1000 from the original company you owe for say $500 and then hope to make money by hounding you for the full original amount and frighten you by adding fees to it and interest. there is only so much chasing they will do before they realise you are not profit making for them so they will sell the debt on to another firm and on it goes, the more time that elapses between the original debt and the current day the better, things do eventually get writtenm off and or 'forgotten about with new computer systems etc. my advice is sit tight and dont panic, deny getting letters etc.. always remember human nature what would you do if someone owed you money, youd be fired up at first, but after lots of trying over the years youd eventually give up as a lost cause |
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rachel
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father time doesn't pay it back for you..... you owe. work something out or they WILL take it from you forcibly. |
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SPIFIMAN1
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OC1099 is correct again. |
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shelcom
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They can and will attach your wages. When I was a bill collector, we found speaking to a debtor's CO (yes, they can do that as long as they don't discuss the debt) was remarkably effective. |
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ANNA <3
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nope they just ruin your credit they never go away
o and theyll just take money from your pay check each month and yes it is legal to do that |
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halfpint6niner
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yes they can garnish your wages! It will also be on your credit report. You can try to make payment arrangements so your employer doesn't know about it cause if they garnish then if might affect your job. |
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mister ed
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as a retired usaf nco i can understand your problem since i have had many a young airman in my office with the same problem. look work it out with the credit company -- time to pay the band -- you sure as well do not need art 15 over this. |
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