Debt Help Services

Archive for the ‘Debt Collection’ Category

Question: Do I need to sign my letter of dispute to the debt collection agency?

I found several sample letter to dispute an alleged debt by a collection agency. However, I found one sample that advised not to sign the letter; it says that a collection agency may forge your signature on other documents that I have never seen. Now I am afraid to sign but, if I don’t will the letter still be valid?

Answer: NEVER sign a DV letter to a Collection Agency!!! (Debt Validation)

You do want to send the letter CMRRR (certified mail, return receipt requested)

Keep a copy of the letter for your records & all receipts from the Post Office regarding this, including green signature card when it is returned.

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Reminder Debt Collection Letter

Question: What happens if you send a scavenger debt collector money?

I know it’s a huge mistake, but my boyfriend… in a not-so-smart move, sent a scavenger debt person $200 because he got scared when he read the word “sue” in the stupid letter. Instead of consulting anyone about it, he sent the money and they cashed the check. He’s talking to a lawyer next week, but what happens if you send them money? Does it reactivate anything? Do these firms have the ability to report to credit bureaus? This was regarding a debt he owed back in 1997 in California. We live in Iowa now.

Remember this is not a collections agency. It is a law firm that buys debt from CAs.
My main concern is can companies like this (who are NOT collections agencies or creditors) report to credit bureaus? He has worked so hard to repair his credit.

Answer: The Statutes for Iowa are as follows:
Open account: 5 years from last charge, payment, or admission of debt in writing.

So in effect, he has restarted the time clock on this debt. He could have just thrown it away as they had no legal recourse and could not have sued him.
Was this payment a settlement payment or just a single payment to hold them off. No matter what, they can now take civil action in court to collect the full amount including legal fees.

HOWEVER, this will not reset the SOL for reporting on his credit report as per:
Running of Reporting Period – Section 605 [15 U.S.C. § 1681c]
As of December 29, 1997 the reporting period runs 7 ½ years (7 years plus 180 days) from the date (month and year) of the last delinquency (known as “last missed payment:).
So, regardless of how long a creditor waits to charge off, sell or transfer a debt, they must report the true and correct “delinquent or last missed payment” date (month and year) that preceded the creditor’s action.

Use the following link to see if the so called Law Firm is truly legit, many debt collectors use bogus letterheads or pay a lawyer for the use of his letterhead. If it is a bogus letter, then you have rights under the FDCPA regarding misleading collection attempts.

http://www.budhibbs.com/drowning_in_debt.htm

At least he got smart enough to consult a lawyer on this one.

Hope this answers your question.

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How to Deal with Collection Agencies in Alberta

Question: I received a summons from a collection agency to collect a debt but they listed capital one as plaintiff??.?

I got a summons taped on my door today which listed capital one as the plaintiff but this is from Rubin & Rothman, LLC. At the bottom it says that “this communication is from a debt collector”.
i was reading on this website that this is concider fraud? What should i do?

http://www.creditinfocenter.com/wordpress/2008/07/30/debt-collectors-suing-consumers-naming-capital-one-as-plaintiff/

Answer: Go to court or they may get a judgement in your absence. Looks like Capital One is saying you owe them money. Make sure you request, from Rubin and Rothman, a copy of all original contracts and documentation on which they are relying to support their client’s claim that you owe money, such as the application you signed for the card. Make sure you really owe what they say. Good luck. Does not look like you are dealing with a fraud issue. Speak with an attorney or call a public legal aid organization in your area.

IT budgets pointing to the cloud, expansion

Computerworld – When debt collection agency Deca Financial Services, LLC was formed last year it had two IT paths: It could buy its own servers, software licenses, and hire an administrator, at a total of cost of about $700,000; or turn to a cloud provider with first year cost of about $60,000.

Make Bill Collectors Stop Calling and Put An End Debt Collection Harassment

Collectors may even chase the innocent

MINNEAPOLIS – The page was mostly blank. It contained only a name, three words and a series of tiny numbers. But in Minnesota’s creditor-