Debt Ceiling And Obama's Big Elephant In The Room Black Star News
So the amount of debt per tax payer is actually much higher. While American citizens are tightening their belts, the Obama Administration is spending about $120 billion more than it earns in revenues each month. There’s no need for a calculator to understand that statistic. And about 50% of this overspending is divided up between Medicare and Medicaid programs (23%), Social Security (20%), and the interest on our debt (6%).The big question that arises next is who we owe this money to. The majority of the foreign debt is owed to China. Not only is this a country that undermines the American economy and our 9% unemployment rate with cheaper goods and outsourcing labor services, it’s a country with a starkly different view on human and civil rights than us. The atrocities in human rights violations in China were so acute, Secretary Hilary Clinton of the State Department issued an April 21, 2011 press release stating, “Discussions [with China] will focus on human
Debt Collection -- The Four Problems Caused By Abusive Debt Collectors
Debt collectors who choose, and it is a choice not an accident, to violate the law create four social problems. Unnecessary bankruptcies. Divorces ...
Debt Collector Problem, How Can I get rid of Debt Collectors?
Hi
7 years ago I emigrated to America to get away from debt problems after my business went bust, I never went Bankrupt, but the debts were over 50 thousand pounds.
I recently returned for a year to visit Family and opened a new bank account at my Parents House, I just got a letter from a Debt collection agency saying that COOP Bank sold them my two thousand pounds debt two years ago and they want me to contact them to arrange repayments on it, two days later another letter said as I had not responded so of their agents was calling to my parents house and I could be taken to court and be made Bankrupt.
Is there some limitatioin law that stops them from pusuing old debts over so many years? what shall I do to get rid of them?
I have no intention of paying them and I am leaving the UK in 3 months, I just want to get rid of them so my Parents don't get hasslled by the Debt collectors once I have left as there are many other collectors that could surface as a result.
File bankruptcy or fake your own death.
only way is to pay
say you cant afford much and pay a bit a week until you leave
if your going to be there for three months then you will end up in court if you dont pay something
naylisstaffords@yahoo.co.uk
in the subject bar type help me with my debt
debt follows you and its on your credit report
Debt collector problem?
i recieved a debt notice from the place the debt occured and the debt collection agency the same day, the debt collector has been sending me bills for amount of debt being 13,000 i call the place where the debt occured the collection agency parent company Salle Mae answers the phone on behalf of the place and they told me i have a debt of 5000 i asked for a statement showing that 5000 is the amount, they say that the system is down and can not process that. and to call back or they'll have someone call me
I had them have someone call me never happen.
I called them back same damn problem month later.
I asked could i speak with someone at the place and they said they can not transfer me. they said i can either wait for someone to call me or call back later or i can come in i told them iam in Hawaii and there on the east coast. everytime i call i get another bs excuse.
I asked can the debt collector look into the system that There parent company Salle Mae looks into, and never got a answer. I always got we need this payment asap, Any time i brought up Salle Mae they changed the subject
My question is how is the system down if were both looking at it.
I called the place at which the debt occured and Salle Mae answers all there phones for them i called like 10 different numbers all said Salle Mae Answer on behalf of.
I told them i want to speak with someone at the place and they said that they can not do with that because there only dealing with people in person. and that they could have someone call me from there still waiting for that call.
I told them i dont want to speak with the debt with the company that owns the debt collector they said that they can not do with that because there only dealing with people in person. and that they could have someone call me.
Its been 2 weeks no one has called me
I told Salle Mae i dont want to speak with them because they own the debt collector. I said i want to speak with the place where the debt occured.
I called the debt collector told them everything. then they started giving me the run around and i started quoting the Fair Debt Collection Practices Act
and we some how got disconnected
I recorded all calls between all parties
I asked General Revenue Corp to validate the debt and they said they did and its 13,000 but when i call there Parent Company Salle Mae tell me its 5,000
and Salle Mae keeps trying to offer me a loan for 13,000
Go to http://www.ftc.gov
Read the fair debt collections practice act.
First thing: Start dealing in writing only. You have the right to demand that all future correspondence be done by mail only. So do that, in writing, by certified mail with return receipt (go to the post office. Costs $2-3. Don't go cheap and send it normal mail.).
Second, in that letter or another, demand that they validate the debt and current balance. Again, in writing.
Once you get your receipt in the mail that they've gotten your demand letter, if you get another call you be sure to tell them that they can't call you anymore, that they got your notice on X date, signed by X, and that you will document every phone call from that day forward. And do it. Time, date, who called. If they can't follow the law, they can be sued.
I used to work in a collection agency - so I know this will work. Good Luck!
Creditors should always be able to verify the debt for you. If you do truly owe someone money, contact the original creditor directly and they can help you... or at least point you in the right direction.
perhaps consult with a professional
also, try to look for some of your old bill statements if you can.
then you will have proof that your original debt is 5000. and when you try to pay this debt off , tell them that you owe 5000 and will pay that only. they will accept it because they want their money back. they bought the debt from sallie mae for half of that price anyway-- so no one is losing out.
Problem with a debt collector. I need advice. ?
The guy on the phone was not willing to take payments, and was willing to settle for half... I make $300 a week and he wanted $4100 TODAY. Like I said, he was not willing to make payments. I know the law, and that's against it for credit card debt. Is it the same for Student Loans too?? The reason this happened, I accidentally forgot to pass in my forebearance. Now it's out of Sallie Mae's hands, and in the hands of an idiot bully with the same lies as a regualr debt collector. He's trying to get me to borrow from Peter to pay A**Hole as soon as NOW or I'll be "sued for bank fraud." Please, help me, I'm stuck in a bind, and I really want to stay out of courts, I hate these people and will NEVER use Sallie Mae again. They weren't very forgiving, and impossible to work with. I want to get out from under this loan once and for all... I offered $150 a WEEK to pay it off in less than 28 weeks.. that's ALOT of money out of my pocket at HIGH increments... he was NOT willing to take my offer, and requested that I provide to him a bank account in order to make such a deal. He didn't even CARE that this account would be in someone else's name! WTF!? I make a little mistake and it turns into a full blown WAR! Please advise.
Is your loan a federal Stafford Loan, or a private loan, or some combination of both types of loan? The fact that Sallie Mae is servicing your loan does not necessarily indicate how the loan originated, as Sallie Mae services both Stafford and private educational loans.
If your loan (or some part of your loans) is a federal Stafford loan, you should call the US Department of Education immediately at 1-800-621-3115. The Department will be cooperative about arranging for a payment plan. They can arrange for a mutually agreed lower monthly payment, or they can provide you with information about the government's FFEL Consolidation loan program, or the similar William D. Ford Loan Consolidation program.
Understand, however, that the Department will require you to provide evidence of your financial hardship (otherwise, they'd be taken advantage of all the time). You can find a copy of the Financial Disclosure form that the Department uses by clicking here: http://www.ed.gov/offices/OSFAP/DCS/forms/fs.pic.pdf
Whether you borrowed from the federal government, or from a private educational lender, you have certain legal rights:
You have the right to privacy: The agency can not communicate with third parties about your debt. Third parties include your neighbors, your parents, and your co-workers, but not your spouse.
Debt collectors can not harass you. Harassment includes using inappropriate or foul language, refusing to disclose their identify, making intimidating statements, or calling over and over again.
Debt collectors can only make collection calls between the hours of 8 am and 9 pm. A collector can not call you if he/she knows that you are represented by an attorney in the matter.
Debt collectors can not make false or misleading statements about the amount you owe, and they can not threaten you with actions that they are not legally able to take (jail, foreclosure, impounding your car, putting your children in state care).
If your loans are federal Stafford loans, please call that Default Resolution Group phone number that I gave you above - they're not only willing to help you, they also collect information about unethical practices by government contracted collection agencies. As you'll be able to confirm when you call that number, it is a special office of the US Department of Education, specifically created to help borrowers in default.
I hope this helps you - good luck to you.
having a problem with debt collections, they are playing games, help?
my truck is in collections for non payment for 3 months, and the debt collectors authorized sale of the vehicle so we can pay it and get it out of our hands.. well the faxed us a written statement of authorization to sell, and the dealership we want to sell the truck to said they told them they won't hand over the title now. WHAT IS GOING ON
I get the feeling that either someone's not being truthful or there's a misunderstanding somewhere along the line. I can see no benefit to either side to not help faciliate this sale. Make an appointment at the dealership and if you are not able to have a rep from the finance co join you, call them and put them on speaker so that communication flows. It sounds to me like a simple miscommunication, but if the dealer is the one stalling just go to a different one and let them know you will tell your friends and family about your bad experience with them. If the finance co is to blame, explain that you wish to resolve this problem and if they don't work with you, they will have to take it as a loss. Good luck.
Sounds like a sticky situation, maybe contact someone in the authority to find out whats going on.
Go here for more info:
http://www.direct.gov.uk/en/MoneyTaxAndBenefits/ManagingDebt/DebtsAndArrears/DG_10034289
possess as much information as you could maybe is one of the options,however it is quite time consuming,here http://www.DebtFreetips.info/debt-free.htm is the resource i have ever had good experience.
Debt collector giving me problems?
I had a credit card that i was making monthly payments on for a few years. I hit a rough patch and fell behind on the payments but continued to pay something. I exceeded my credit limit for a few months so i got a call from a debt collector. They demanded that i make a payment plan with them. i gave them $1000 so i didn't exceed the credit limit anymore and made a plan w/them at $500/month. After 4 months they call again and say i have to make another deal with them because the deal i originally made was only for 4 months. They want another $500 down and for me to continue paying $500/month so in the end, it will cost me an extra $500 this month. I have been a customer of their's for a while and can't believe this. I am going to tell them i will continue with the $500 payments but i am not making an additional $500 payment to start another plan. If they don't like it, they can sue me. I can't see how a judge would make me pay the entire balance given the facts. Thoughts? tia
It appears they put you on a temporary payment program. Let them know the situation, let them know you can't pay $1000 this month. Obviously, the balance is high for your payment to be this much. You may have been a customer for a long time, but unfortunately you were not always a good paying customer. When you used their card, you agreed to the terms. The terms state you have to make a minimum paymet. According to you, you hit a rough patch and paid something. That wasn't the terms of the credit card. If ultimately they would sue you, the judge would make you pay the entire balance if they get the judgement. This could also include court costs and legal fees. The judge would recognize you did not pay per your contract. Try to see what you can work out with the creditor, so you can avoid a lawsuit. Good Luck. *** Crazyjes--It is not an implied contract. It is a program they put him on to get him caught up on his payments. It does not make the original contract null and void. It is a courtesy that they put him on a payment program--not something they have to do.The courts will not throw this out. It is a legal contract. ***CRAZYJES--I would not have written my response if I did not know what I was talking about. If you default on a credit card, they can request your balance at any time. If they put you on a program, it does not make your original agreement null and void. You can be put on a hardship program, true, but it is a courtesy per the credit card company. If you fall off by missing a payment, they do not have to keep you on the program and again they can demand the up to date amount or the balance. They can also put you on a program that you would make 3 minimum payments and they would reage the account --in other words bring it current, and then you would keep on making the monthly payments. It doesn't appear to be a 3rd party collector due to he stated he has been a customer of their's for a while. It appears it is the same credit card company. If it is, they still would have the right to send it to an attorney. I work for a major credit card company, so obviously I do know how it works. We also keep alot of our accounts in house after they charge off and yes we will put them on programs from original delinquency thru recovery--if they default, we will send them to the attorney.
deals my butt they just want your money and see how much they can squeeze out of u,,,
sry,, been there
take care
bonnie j
Edit - Annie, did you see my post? If they have been accepting these payments from him then he would have an "implied contract" especially if this was set up by the creditor themselves. If he defaulted on the card then the original agreement is voided.
Edit again - Annie, whenever you default on a credit card the original contract terms do not apply, this is why many credit card companies have hardship programs for those who cannot meet the original terms.
Also it appears as if this account is with a 3rd party debt collector, in which case the asker had NO contract with the collection agency until they set up this payment plan. You might be right in your stance if this was simply a 1 or 2 month occurance, but after 3 and 4 payments you'd now have a very easy case for an implied contract. Believe me, there is plenty of case law to support this!
If this goes before a judge I'd undoubtedly put my money on the asker, rather than the collection agency.
http://eliminate-my-debt.blogspot.com/2008/01/how-to-survive-debt-collector.html
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate. Icame across this company on NBC News Special Edition.Check it out here:
http://www.x.se/a5nf
What is the best way to deal with a rouge trader who has now sold on my debt I believe a (Bogus Debt Collector
What is the best way to deal with a rouge trader who has called in a (I believe bogus) debt collector
I have had a path and patio layed by a rouge trader - I have had numerous problems such as rocking slabs, high slabs, Broken slabs - not to mention that every single slab is stained with cement.
I have not payed the trader he initally threatened me with court action. Following this I had an independent report produced which showed 22 serious problems with my path and patio. All went quiet for about 2 months but today I have recieved a call from a debt collector threatening to come and rip up the slabs unless I pay.. Please.... Does anyone have any suggestions on what I should do - As far as I know you cannot sell on a disputed Debt and no court action has taken place.
Regards
Simon
Yes.
Firstly, the next time the debt collector appears, ask to see the court order authorising him to attend, and ask whether he is an authorised bailiff. Ask him which court has made an order against you - he probably won't be able to answer, in which case call the police. If he does, and the trader has obtained a court judgement for non-payment against you, then clearly it is without your knowledge. If the debt collector is a bailiff acting on this judgement, tell him you will apply to have the judgement set aside, and take the details. Contact the court, and explain that you knew nothing about it. UNDER NO CIRCUMSTANCES LET HIM IN - if he is not a genuine debt collector, why should you, and if he is a bailiff, letting him in allows him to claim walking possession upon the contents of your house.
Second, go to your local county court tomorrow, and issue a summons against the trader who laid your patio, claiming breach of contract - he contracted to fit a patio that was fit for patio type purposes, and this clearly is not the case. Get a quote from another patio company for the cost of putting it right, and sue him for that cost, with the option of him coming and putting it right, if that is acceptable to you. Add on to this the court costs, and any other costs incurred.
having problems with debt collector for an 8 yr old account they will not provide info other than amount i owe
Today i got a letter through the post from a debt collection agency. When i phond them i was greeted by an unhelpful agent who would not provide me with much info. The debtor was noted as singlepoint and when i called they said it was an outstanding account relating to a mobile phone contract. I have terminated all contracts by the relevant means as far as i am aware. They then said that the account was £290 and that i should pay immediately or risk being blacklisted. I asked them to provide me with a statement showing exactly when the payments were missed and some detail more than just a rought date and a random amount. I was told that i had 2 options to 1. pay the amount or be blacklisted - basically they providing any further information was out of the question. OR 2. Be taken to court for the amount. Is this correct? What is my rights? How can i stop them taking action until the matter is explored further. If the claim is valid then i will make payment but i need more info.
Tell them that when they provide proof of the original debt, and a breakdown of all costs accrued since, *then* you will pay it. Put that in writing to them.
I can I stop a debt collector harrassing me?
I've been getting phone calls from the debt collectors everyday and I can't afford to pay off my debt because I don't get much to live on? Can someone tell me how I can put a stop to there harrassing calls? Also I have mental health problems and I did slam down the phone on them and call them every name in the book
Start by going to this site and downloading and reading the booklet. It outlines all your rights under the Fair Debt Collections Practices Act - including the right to not be harassed.
Part of your rights is to request that the collector not contact you anymore - a right you can access just by making the request next time they call. To make sure that they follow through, request the name of the person and collection agency making the call and then send them a letter telling them to stop contacting you.
http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre27.pdf
How legal is it for a debt collector to call a friend?
I did some reading online but I need a little more information...
My old roomate (from over two years ago) sent me an email saying that a chinese man keeps calling her for me... He says that I put her name down on something... What I don't know!!! She said that it's a loan or something... From what I gather online the debt collector is not to say they are a collector and are only to say their name. Well, she knew that it was a debt collector... and said she thinks it might be a loan? Well-- I dont have any loans. I went through ALL my voicemails and had no message from a chinese man. The problem with the debt collectors is that if I cant pick up (they ALWAYS call when I'm at work or in class)... that when they leave a voice mail, it's an automated person, and their entire message is cut off and all I get is the end... but it's not even enough to gather a number or what it's reffering to.
My other problem is that all my bills are being sent to my fathers house.... He always forgets to tell me, even when I ask... And I wont get the letters til 3 months later. I've asked the collectors to mail me at my address but they never do.
Well --- I've read on several websites that they are not allowed to disclose that they are a debt collector. They are to merely ask the friend who they're calling if they know of where the person is they are calling for.
1. They cannot discuss details of the debt, but saying they are a debt collector is not illegal.
2. Change your address with the post office, then your mail will be forwarded.
3. You do not "ask" collectors to mail you at another address, you send a written change of address order to them.
Good luck
Is a creditor or debt collector required to attempt to collect from you before reporting to the bureaus?
I had doctor bills when I was eighteen, under my FATHER's insurance. My FATHER was billed for the copayment, but never paid. My father has been working with many creditors including the collection agency now handling this bill. 6 or 7 years after I received the services, I got a letter from the collection agency demanding payment. I don't have any problem paying, however I don't want it to hit my credit report. Can they immediately report this collection account even though this is the first time I've been made aware or that anyone has tried to collect from ME? It seems that someone should have to bill ME, PRIOR TO REPORTING TO A CREDIT BUREAU.
Any insight is greatly appreciated.
As for "Common Sense's" comment....you need to educate yourself. Do you realize that debt collectors are a very important part of the economy? They collect millions of dollars every year from consumers.... without them, YOU, along with the rest of the world, would be paying more money for every service you receive & every item you purchase. Saying nothing good comes from debt collectors is crazy. I've been in the industry for many years and we get more Thank You letters from debtors then we do nasty letters... so that should say something about the way we do business. MOST agencies have very trained collectors that are taught to help the consumer find a solution to the situation they are in. It's not like we go out and break knee caps or anything. But, you just keep thinking what you want, but be sure that you don't cry about it next time you go to the doctor's office and they charge you $25 more then you are used to for an office visit. Just understand that they have to do that if they want to recoup their money for the services they've provided you and every other person in the waiting room, provided they are not using a 3rd party collection agency.
As for your question... First of all, I'm confused about why your father has been dealling with the debt if it was turned to the agency under your name. According to the Fair Debt Collection Practices Act, a 3rd party collection agency can not discuss your bill with anyone other then yourself, your spouse, or your lawyer. In order for them to discuss with anyone else, they need verbal or written permission from you first. You should also check the statue of limitation for your state. Keep in mind however, that the statue of limitations is based on the date of last activity on your acct. So, in the case where there's no payments made, the date of last activity would be based on the date the services were recvd. However, if you or your father has made payments that has been applied to the debt, the statue goes from the date of last payment. Most agencies do not report the acct to your credit right away. My agency waits for about 45 days from the date of ref. to report. So, if the debt is paid prior to that, we do not report. If it has already reported to your credit, then you can at least explain the situation and ask them if they will remove from your credit. But, keep in mind that in order to do this, they will typically expect payment in full on the balance owed. Anyway, worse they can tell you is no. If I'm understanding you correctly and they did in fact discuss the debt with your dad without your permission, you could always tell them you are aware that they've violated the FDCPA and that you want to speak with a supervisor to have the acct removed from your credit in exchange for you NOT filing a complaint agaisnt them with the American Collector Assoc. Typically, if you cooperate with them, they will cooperate with you... so go into it being pleasant. Understand that they have a tough job and they talk to alot of people everyday that are upset about the situation they are in and some of the consumers are down right mean. You'll get way further with the collector if you are nice to begin with.
Hope this helps. Good luck.
http://www.acainternational.org/consumers.aspx
You can also check out the above link for info re: consumer info on dealing with an agency.
Debt Collection in the existing Economic system
The actual subprime problems exploded on the global economic climate a year or two back however, many people nevertheless live below the cloud. A lot has changed because which time period. This brought about global economic downturn and it introduced to mild bogus bank loan inducements and falsified documents. Really, in many years next period of time it’s been established which a lot of homeowners who was simply of course home loans are not competent to repay these kind of loans. These types of people might be contributed to Phase Tough luck individual bankruptcy suggestions should they had a temporary crisis nonetheless no assistance could possibly be sufficient simply because they were simply not the proper prospects for those loans.
The federal government tried selling in along with moratoriums to help to alleviate the actual monetary weight. This kind of made it possible for the particular defaulting homeowners to retain from paying of the home loan for almost a year; nonetheless, this failed to assist. These were provided re-financing; it absolutely was an excellent concept due to the fact this rearranged the particular home loan structure, delivering month to month home loan loans straight down by a honest amount. Nonetheless this particular failed to really assist both. This kind of brought on lots of home property foreclosure and short revenue. To avoid such a circumstance government and courts additionally offered a pre-foreclosure phase to discuss disputes and financial debt, but the creating was usually on the particular wall.
The identical occurred with credit card non-payments. People considered that they were non-recourse loans that chop down in the unsecured debt category and therefore they would not be liable for the repayments. Nonetheless, this would ‘t be the problem except if a individual reported individual bankruptcy. You can find no free of charge dinners on the world and eventually individuals were pressured to try to find payment tips. Not significant visited with them.
...debt collector problem - News
|
Pushing back against debt collectors - Wilkes Barre Times-Leader Pushing back against debt collectors White, of the National Association of Retail Collection Attorneys, said collectors also run into problems because the debt act contains conflicting Consumer Debt Disputes Rising Client’s Corner Prohibited practices |
|
Bad loans win debt collectors bank jobs - Business Daily Africa Bad loans win debt collectors bank jobs January 15, 2009: Kenyan banks are turning to external debt collectors to slowdown the steady surge in default rates as runaway inflation erodes borrowers’ |
|
S&P Downgrades Greece Amid Bulging Debt tax collection and higher property or income taxes is offset by the rising cost of debt servicing and public pressure for additional social spending. |
|
According to Business Processes Redefined, LLC; Economic Slump ... Lauren A. Irwin-Szostak, Founder and President of Business Processes Redefined, LLC an expert in consumer debt collection, says companies are facing |
|
Peru in Talks to Borrow From US Fed, China, Valdivieso Says Tax collection fell in November on slumping mine revenue, the first monthly decline in almost five years, according to tax collection agency Sunat. |
