Debt Consolidation Alternative, Debt Free League Says: Less In Debt Visit ... DigitalJournal.com (press release)
San Diego, CA (PRWEB) August 14, 2011
Because of the United States debt crisis, many folks in debt have succumbed to debt collection terrorism. Yet, Debt Free League, a San Diego debt relief company with a debt consolidation alternative, states fewer debtors are going to bankruptcy court; more are suing the debt collectors. Select debtors are also using the company's debt program to fight debt recovery abuses.
In 2010, shattering 2009 records, consumers filed an estimated 13,901 lawsuits against collection agencies and creditors, including 10,914 Fair Debt Collection Practices Act cases, according to research firm, WebRecon LLC.
Consumer and business debt settlement specialist, Debt Free League prognosticates even more consumer lawsuits in 2011. They attribute the surge to the economy’s onward decline.
“Low housing and steep unemployment creates panic, causing the creditors not to issue debt loans. And as more bills are left unpaid in this dangerous circle, the debt collectors gradually intensify bullying tactics", declares Debt Free League representative, Vic Chevalier.
Illegal zombie debt collection by MidFirst Bank/ 15 yrs. later/Judge Mallia
Die Discharge Zombie Debt, Die!! The Green's are being forced to re-pay this 2000 discharged fha/hud mortgage zombie debt, in spite of their ...
What is the law on fair credit reporting and statues of limitations in Texas on debt collection?
I recently gotten a debt collection notice for $2500 on an account I have no distinct memory of, from over 6 years ago. The debt collector stated they bought the debt from citibank, citibank says they bought it from "verizon credit card", but cant give me a number to call "verizon credit card" to try and figure out what is going on. Now, from 1999-2001 I cleared and settled all my credit card accounts one by one, and I saved all my correspondence on these issues, but all of that was lost because they were stored in New Orleans at my father's house. So basically I have these people trying to collect a debt I have no record of, whose latest action is from 2001, and they have suddenly listed this on my credit report, as if it was a new debt, from 2007 - which I am fairly certain is illegal. Anyone know the details on this sort of stuff?
After trying to work with this collection agency, now that I am sure that this is a junk debt, I am convinced these people are scam artists and know it. I called them and explained that I wanted to work with them to track back the company that initially owned the debt, and they said they didn't care, that I owed them money, and that since they bought the debt this month, it IS a new debt, and that they could report it as so., because I "took action on the debt simply by calling them" I told them that legal counsel has advised me otherwise, and that in the state of Texas last monetary action on the date of the debt is what matters, not phone contact, which is true, and they hung up on me. My lawyer, who isn't in this sort of law, is sending them the certified letter, following OCT1999's recommendations. Thanks SO much! I was about to shell out the 2500 because this has dropped my credit rating from 750 to 590, and my job is at risk b/c of it, but now I am going to fight it.
Here is a link so you can look this up.
http://www.bcsalliance.com/index.html
However, there are two other things that do have time limits. The first is the Legal Statute of Limitations. This is the period of time they have to sue you for the money. For Texas this is 4 Years from the date of the last delinquency. If your last delinquency was for example 12/2001, they can not sue you after 12/2005. Well they can file a suit, but you would require them to prove that they were still in statute. If they can not the judge would throw it out.
The second is the time it can be reported on your credit report. This is 7 years from the date of last delinquency. So using the same delinquency date of 12/2001 it will be on your report until 12/2008.
This was probably bought by a Junk Debt Buyer hoping to get you to pay, but they are not allowed to re-age a debt. What you need to do is send them a certified letter with return reciept. In the letter request that they provide proof that they in fact have the right to collect on the debt, and the account history. This includes the original signed agreement and payment history showing your last payment. If they can not provide this in 30 days by law it must be removed from your credit report. So if they do not respond in 30 days send a copy of that letter along with a letter to the Credit Reporting Agencies stating they did not respond in the required time and the item must be removed.
If they do respond and provide proof that your payment was in 2001, they can do nothing but keep it on your report until 2008. So it is your choice to pay it or let it fall off naturally.
Are these violations of fair debt collection practices act?
My husband fell 6 months behind on a credet card bill. The account was turned over to a collection agency in Texas.After repeated phone calls to both my husband and his employer. My husband called the CA and asked them to stop contacting third parties. He tried to make arrangements to pay the debt. He was not able to come up with the sum that they wanted so the calls continued. They called us numerous times. Sometimes 10 or more times in one hour. They continued to call his employer even when the employer asked them to stop calling. They called our neighbor, parents, and siblings. I contacted them and made arrangements to pay the bill in monthly enstallments. Two payments have been made as agreed. We have not missed a payment. Yesterday I was contacted by them stating that if I couldn't settle the debt that day they would send a 1099C form to the IRS. Claiming that my unpaid debt was considered nonwage income even though I was paying on it. they also called a third party this same da
We still are not sure how they got our neighbors address. We hardly ever even talk to him. I don't even know his last name. All that we can figure is that they looked up our address and then did a search on our neighbors address to get his contact information.
What really gets me is that they are continuing the harrassment even though we are paying on the debt. I could see if we had missed payments or something but we haven't.
The 1099 C form doesn't even apply to my debt. They were not offering to eliminate the debt. The lady who I spoke to on the phone tried telling me that if I didn't pay the debt that day she would file the form. When I spoke to the manager and asked him about the form he told me that it was used if part of the debt was written off and did not apply to a debt that I was paying. He is looking into the matter to find out why she would tell me this. It felt to me that she was just trying to bully me into paying it that day.
We have the payment details in writting and have made payments as agreed. We are sending a certified letter tommorow to stop contacting third parties as they are not doing so with any intentions of finding out contact information about us. They already have our information.
Turn them in to the better business bureau. Also tell them you will contact your attorney(you don't have to have one) if they don't stop calling your family and his employer. They legally can't contact the IRS about your debt, so don't worry about that. Make sure you tell the BBB about all of the threats that they have made, this is wrong and against the LAW! personally I would contact an attorney and sue them for harassment and breech in privacy if they are telling other people any info about how much you owe.
They can't contact you by phone, if you've asked them to stop-
Unpaid debt is NOT income!
From another site:
When the 1099-C is issued to you and to the IRS, you must claim the indicated amount as income in the year the debt was forgiven.
Once you pay the income tax on the forgiven amount, the creditor can not come after the same amount again. The debt is forgiven.
The taxes are surely less than the debt, pay it, and forget about it.
Did you have any of this in writting. That is did your husband send them a certified letter stating that they were not to communicate with anyone else. Did you have the payment arangements in writting? If not there is really no proof other than a you said/they said sort of thing.
However, having them give you a 1099-C may not be the worst thing that could happen. Once they do this they are officially writting off the debt and can not come after you again for it. You will have to pay taxes on the amount but depending on your tax situation this might be a very small percentage based on the settled amount.
texas fair debt collection - News
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