Posted: 10/22/2010 3:06:30 PM EDT
| Take me to court over a credit card default? Had about a year and a half rough personal economy....haven't paid on an outstanding debt in a while. |
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technically, yes. Depends on the amount as to whether or not they'll think it's worth it. Get thee to creditboards.com and read a little bit in their forums. Good info.
If they do sue you, the first step will be delivery/service of a summons. You can pretty much ignore everything up to that point. Don't ignore the summons, or they'll get a default judgment against you, and once they have a judgment, they can hit up your employer and take a little scratch out of your check. Seriously, creditboards is the best place for advice on this type of stuff. |
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The usual defense against a collection agency is that you show that you have never entered into any legal and binding contract with any collection agency. But sometimes, your agreement with a creditor has language concerning a collection agency hidden in the fine print. You can creat an amended agreement with the creditor in which you state that you are legally liable for debt payment ONLY to the named creditor and not to any collection agency that it may choose to assign, but you might not get the loan. CJ |
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Categories > Society & Culture > Languages > Resolved Question
What;s the meaning of "Technically speaking" and "Literally speaking"? New to English. What;s the meaning of "Technically speaking" and "Literally speaking"? Best Answer - Chosen by Voters technically means, according to an accepted body of rules, and literally means, precisely, word for word. 3 years ago No shit. What's germane is the latter part of my statement, in which I said it depends on the amount owed, as to whether or not they'll bother to file suit. A disputed 70 dollar phone bill vs 10K in credit card debt - gnomesayinmang? |
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Quoted:
The usual defense against a collection agency is that you show that you have never entered into any legal and binding contract with any collection agency. But sometimes, your agreement with a creditor has language concerning a collection agency hidden in the fine print. You can creat an amended agreement with the creditor in which you state that you are legally liable for debt payment ONLY to the named creditor and not to any collection agency that it may choose to assign, but you might not get the loan. CJ Debt is assignable under the laws of every state in the US. |
| Normally they will wait until the amount in fees and extra charges makes it in thier interest to pursue collection any further. rest assured they will make every attempt to collect everything they can. Check the Statute of Limitations in your state to see how long they have to come after you. Also, if you haven't done so already contact the lender and close the account, it helps your credit a little if you close the account vs. them closing it. |
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Quoted:
Normally they will wait until the amount in fees and extra charges makes it in thier interest to pursue collection any further. rest assured they will make every attempt to collect everything they can. Check the Statute of Limitations in your state to see how long they have to come after you. Also, if you haven't done so already contact the lender and close the account, it helps your credit a little if you close the account vs. them closing it. I'm seeing credit card accounts as low as $1500 being sent to County Court for judgement in Colorado. |
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Quoted:
Normally they will wait until the amount in fees and extra charges makes it in thier interest to pursue collection any further. rest assured they will make every attempt to collect everything they can. Check the Statute of Limitations in your state to see how long they have to come after you. Also, if you haven't done so already contact the lender and close the account, it helps your credit a little if you close the account vs. them closing it. Guy walks into the bathroom and sees a fifty cent piece in the toilet. He pulls out a wad of cash and tosses a five dollar bill in there with it. His buddy asks, why are you doing that? "Well, if I'm going to stick my hand in there I want to make it worth my while." |
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First.
Make sure the to check your states statute of limitations. If the debt they claim was 5 years ago and the SOL's in 3 years ago. BAM! NO CASE! Second. The collector has to PROVE they were assigned the debt. They buy old debt for pennies on the dollar and have no assignment of anything. They make up some BS number and hope that you don't show up to contest it. They get a default judgement and you loose. Please Please! Let the court know through an attorney or your own WRITTEN response that you want PROOF they have ownership. They do the same BS the banks are doing. Suing you a debt they don't own. |
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Once I had a collector after me. It was for under 200 dollars. I just told them flat out: "I know what I owe, and I'll pay it to the hospital as soon as I can, but I'll never pay YOU a penny. I don't owe YOU anything. I'll pay the hospital. So don't call back." They never called back. I did finish off that last payment to the hospital as well, shortly thereafte. "I do not consent to debt assignment." Write this at the bottom of any contract you are to sign, and have the agent working with that company sign over what you wrote, before you sign on the bottom line. CJ |
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There's no "technically" about it. If the creditor sells the obligation to the collection agency, they're in the same shoes as the original creditor, so the position that you didn't enter an agreement with the agency is bunk. Really? Care to cite some case law Mr. Attorney? |
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There's no "technically" about it. If the creditor sells the obligation to the collection agency, they're in the same shoes as the original creditor, so the position that you didn't enter an agreement with the agency is bunk. Really? Care to cite some case law Mr. Attorney? The collection agency is a holder in due course of a debt obligation. The case law would be plain old contract law. You signed a contract with a CC company and they sold the debt off. |
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Quoted:
Quoted:
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There's no "technically" about it. If the creditor sells the obligation to the collection agency, they're in the same shoes as the original creditor, so the position that you didn't enter an agreement with the agency is bunk. Really? Care to cite some case law Mr. Attorney? The collection agency is a holder in due course of a debt obligation. The case law would be plain old contract law. You signed a contract with a CC company and they sold the debt off. +1 Can't figure out where the commenter who claimed that only the original creditor would be able to collect a debt is coming from, but it is utterly untrue. |
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