Bill collectors are calling me...What should I do?
Date: Fri, 09/07/2007 - 11:45
Thanks in advance.
I am certainly no expert in this area, but I would try to work o
I am certainly no expert in this area, but I would try to work out a settlement, from past experience I know that most legitimate companies will work with you, if they don't, then you may want to check out a debt consolidation company. They probably won't go away if you keep ignoring them.
Have you received anything in writing from them on these debts?
Have you received anything in writing from them on these debts? First step is get NFS to validate the debts...make sure they are the ones you should be talking to. Here is an example letter I got from another forum member:
Quote:
Collection Agency 123 Collection Ave. Somewhere, USA 12345 Attn Re Acct/File # _____________ Dear ______________: I received a phone call/mail notice stating that _________________ holds a debt in my name for __________________. Please be advised that pursuant to the Fair Debt Collections Act, 15 USC 1692G ???? 809, that this debt is disputed and validation of this claim is required. To validate this claim, I require the following: What the original debt is for. The amount of the original debt. How you arrived at the amount you say I owe. The interest charges applied to the original debt. All payments received regarding this debt with the original creditor including the date and amount of each payment., This requirement was established by the case Fields vs. Wilber Law firm, Donald L. Wilber and Kenneth Wilber USCA-02-C-0072, 7th Circuit Court, Sept. 2004. Any penalties associated with the original debt and the reason or reasons for those charges. Proof that any interest charged does not exceed that allowed by law in the State of _________. Provide me with any papers that say I agreed to pay what you say I owe. Proof that the collection agency owns the debt or has been assigned the debt. Proof that you are licensed to collect in the State of _________. Furthermore, at this time, I am advising you that I am not to be contacted by your firm or any of its affiliates, subsidiaries or clients by any other means other than the United States Postal Service. Also, you are not permitted to contact my employer, friends, acquaintances or family regarding this matter. If your office can and does provide ALL the information that I have requested, I will require a minimum of thirty days from the receipt of that information to investigate its validity, and to retain counsel, if necessary. During this thirty day period all forms of collection must cease. Furthermore, if your offices fail to respond to this validation request within thirty days from the date of your receipt all references to this account must be deleted from my credit file with all reporting agencies, and a copy of such deletion request be forwarded to me immediately. Sincerely, |
Also, look up the statue of limitations for your state. For example, in Texas they have 4 years from the date of default to pursue a debt with legal actions. Past that point, yes the debt is still valid, but they cannot sue you unless you make new payment arrangements IN WRITING and default on those, as well (as this starts the SOL over again). Knowing your statute of limitations may take some of the stress off. The letter above should get them to stop calling you at work and home. Keep a copy of the letter and send it via certified mail/return receipt requested. If you receive receipt, attach it to your copy. If they continue to call you after receipt of the letter (without you initiating such contact...i.e., a return call), they are in violation of the Fair Debt Collection Act, and they should be reported.
If you have not received written notification, you MAY need to actually answer one of those calls, and request an address to send such request for validation. Be nice to them. Or, you can provide the full name here, and I know someone around here could find the address for you! They helped me find an address when I did talk to the "junk debt buyer" and they refused to give me their address themselves!
ONLY AFTER THE DEBT IS VERIFIED, consider taking next steps to pay and make good on the debt, if this is what you wish to do. Before you even start talking settlement with them, look at your finances and make sure you can pay whatever you agree to pay. Like I said, if the SOL has run out, and you make a new agreement to pay and default, you have restarted the SOL time period, and may open yourself up to be sued. Go into it knowing all of the facts! If you opt for a consolidation loan or to work with a debt consultant...again, before you put anything in writing and sign your name, make sure you can commit financially to the payments you are promising to make.
Very good advice given,let them validate first to prove the debt
Very good advice given,let them validate first to prove the debt and check your laws to see if the sol has passed.
Hi SubiGirl is right. You know that you owe between $$11000 -
Hi
SubiGirl is right. You know that you owe between $$11000 - $12000 for two Chase credit cards and you are now assuming that the debt is now collected by NFS. But how do you know that NFS is authorized to collect the debt? Its really nice on your part that you want to pay off that amount but it would be better for you to first ask for validation from NFS. Before paying anything dont you want to be sure that you are actually paying the right party. Look at the whole matter in this way, let us assume that you owe your friend Kelly around $200 but out of the blue Bill your another friend calls up and says that Kelly wants you to pay that amount to him. What would you do in such a situation? You would ask Bill the details before paying him anything, right? So, in this case too ask NFS to validate the debt first.
Good luck
Nelly
How do you look up the statue of limitations for your state?
How do you look up the statue of limitations for your state?
While you are getting validation you need to sit down and make a
While you are getting validation you need to sit down and make a budget for yourself. You know you owe around a certain amount and to be quite honest I'm supprised you haven't been sued for yet. Consider yourself lucky. You need to get this taken care of. So sit down and make a budget of what you need, what you like to do extra, and what you owe. Put basic living needs including utilities on the NEED list. Put going to the movies, going out to eat.. ect on the EXTRA list and then put your bills on the OWE list. Pick out a few things from the ETRA list to put in to your budget so that way you don't go crazy from sitting at home because you are paying all your bills with no fun.
Also check your newspaper for free or inexpensive fun things to do for you and your family. Sometimes there are many things to do that are free or very inexpensive.
