State losing millions to bad debts Daily Republic
PIERRE — Year after year, people stiff state government in South Dakota for millions of dollars in debts they don’t pay.
How much isn’t readily known. That’s because no central office tracks who owes how much.
Instead, each department, agency or office is responsible for handling its uncollected debts. If no progress is made, they can turn to a collection agency that is under state contract.
Millions of dollars worth of those IOUs have been turned over to a Minnesota company, The Affiliated Group, in recent years.
No one in state government has been keeping tabs on the company, outside of their specific accounts.
Until an inquiry by this newspaper and four other papers, no one in state government knew how much total debt had been placed with TAG.
No one knew how much the company had collected, or how much the company paid itself.
As a result of the newspaper inquiry, the state Bureau of Administration requested and received from TAG a financial spreadsheet showing that data for the period of 2009 through May 2011.
Collection Agency
Debt collectors describe how they do their jobs--and why they prefer calling your relatives and neighbors!
I got a CCJ 6 years ago for a bad debt and never satisfied it in full? Can they still get me?
I had a bad debt (I had repaid the loan 3 times over but they kept wanting more and I was skint)b and received a CCJ to pay it back. I paid some but never finished hence the judgement was never satisfied. 6 years later a debt recovery agency have brought the debt and are chasing me threatening court again.
Is there a limitation period on an unsatisfied judgement? I have a niggling thought that I cannot be chased nor taken to court again as nothing has been done for over 3 years, am I right?
i think it is spent after six clear years with no contact.
I think maybe the time frame would start from when you made your last payment.
The answer of Bomb the bank comes from a guy who is breastfed by his dad.
get the yellow pages or go online to see who's in your area that can help you.
forget agencies or consolidations.. they're just slowing the process down.
a good bankruptcy laywer can give you options or you can just pull a chapter 7 on everyone and start out fresh.
and don't listen to those folks who tell you otherwise.. i filed 5 years ago and it was the best damned thing i ever did.
:D
good luck, no more fooling around get a good bankruptcy laywer.. they're cheap.. they take installments and they'll shut up those hummers in no time flat.
and they'll tell you how to restart your credit if you so want to.
If the creditor has previously taken you to court and you have received a County Court Judgement, you will be unable to use the Limitations Act 1980 to dispute the debt. If the judgement is over 6 years old the creditor may need the permission of the Court to enforce the debt.
what advice would you give to recover a bad debt?
i loaned a sum of money (5 figures) to a friend 3 years ago and despite him signing a letter agreeing to pay me back monthly (this was last October!) i have not received a penny despite numerous emails, telephone calls and personal conversations.. it has been suggested by another friend that i 'sell' the debt to a debt recovery agency... is this a good idea? i would be grateful for any suggestions
Oooeeww, debt recovery agencies could make your friendship dissolve almost immediately. They are known to be pretty hard core at times and they can really pi*ss people off.
If you choose debt recovery, your friendship may very well be ended and it could cause animosity. Think about what you have right now and determine if it is actually worth losing a friendship over.
Perhaps saying "I really don't want to throw this to a collections agency or anything, can we work something out so that you can Honor this loan?" If the friend is struggling, see if offering a set sum a month that is a little lower than the initial agreed upon one, solves the problem. If you loaned him money before he may be in that position again seeking some kind of reprieve from something. Perhaps he already has collection people bugging him. Never know.
I'd try to work it out without someone elses handy work getting involved...if you find out the reason for non pay, you can probably work on a solution that works for both of you and still have the friendship intact. Of course if you've tried being Mr nice guy and it has bombed, then you may have no recourse except the collection route...tell him your intentions first tho, sometimes it is interesting how they get together the necessary funds when they believe their credit rating could be harmed.
Next time, you can then adhere to the "don't a lender or borrower be", well at least the first part, and as well they say lending to a friend sometimes ends the friendship....hopefully yours remains intact.
if he goes bankrupt, you've had it pal! more fool you
Very easy to do and very quick.
Please don't go loaning out money to your friends in the future. Harsh, I know...but stuff like this is bound to happen again.
You could sell the debt to a "company" this may cost a little more, up to £500.
Either way you are looking at an old friendship!
She'd sort them right out!!!
Or go after them with a big sword
If you have a signed letter stating that you were to be paid back and he hasn't kept up his end of the bargain there is no way that he can say he didn't know that this was a loan.
The only problem with this is if you do get a judgment against him you'll still have to collect the monies. It doesn't automatically mean that you'll get the money back. You may have to take it past the initial suing and try for a wage garnishment.
How can I clear the bad credit history at my new address?
Bit of a long question, but basically, I've never had problems applying for and being accepted credit, but I moved to my new address a few months ago and found out that my credit score here is only 395. A few weeks ago a debt collector came, and I found out the person who lived here before had a debt of over £7000 on just one credit card alone. Her post is still delivered here, and though I don't open any of it, I can tell they're from debt recovery agencies, and companies she still owes money to, etc. I don't open the door to debt collectors now because I know how they work, but since I moved here, about 9 different debt collectors have visited so far. It's getting on my nerves now.
I dread to think how bad the credit history is at my new address and can't believe anybody can be that stupid, as well as selfish. I can't get accepted for anything now.
Does anyone know how long information stays on credit reports, and is there anyway to completely clear it/start a fresh, etc?
I can't open somebody else's mail - it's illegal. I just send it back as "return to sender" and hope they eventually get the message. Doesn't really help with my question though ...
Credit is no longer connected to an adress, only to a person. It used to be connected to an address, but this was stopped a while ago.
So even if the previous person had bad credit, it will not affect you at all.
This means that the problems must be connected to you, so you should get copies of your credit report from Experian and Equifax, to see if there is anything recorded incorrectly.
Both of these have websites, and you can pay for an up to date detailed credit report on the sites, or for £2 you can get a less detailed credit report sent out to you by post.
For a small fee you can find details of your credit and all the outstanding debt or bad debt at your address.
They will also outline how to remove these references by declaring "no connection to you".
As far as people pursuing ex-residents, you can ony inform the interested parties that the person/persons they are trying to contact, no longer live there and that any continued calls/letters etc. will be considered harrassment. You can then complain to the police or take legal advice about suing for damages etc.
If you have a bankruptcy, credit default or county court judgment registered on your credit file, it will usually remain there for six years, after which it should be removed from your credit file automatically.
Limitation period
The Limitations Act 1980 gives creditors a maximum amount of time to start legal proceedings after the last payment or written acknowledgement (note or letter) from the debtor. For most debts, this is six years, or 12 years for mortgages.
You may want to also read the article on Creditor Harassment in the United Kingdom below.
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