[cat44111]

Is there any way to eliminate credit card judgments? Do debt collector have the right to collect from you when the original creditor charged it off?

[Lowtax4eva]

Yes they are still allowed to collect it. "Charged off " means the bank sold your debt to a collection agency and recovered part of what you owed them, the rest they declared as a loss for tax purposes. Now the collection agency has paid (at least part of) what you owed to the bank and you owe them the money now.

I hate credit cards and wish I didn't have one, but you did use it and you do have to pay them back, even if the debt goes to another company.

[mr.yet]

Yes to both your questions.

TO eliminate a judgment is the pay it.

Yes Debt Collector can try to collect from you.

[lawexpert]

There are 20 reasons to void a judgment. Most judgments can be voided.

[lawexpert]

Just Because a Debt Collector Says You Owe a Debt Means Nothing!

Understanding that first and foremost is important. So many people are fearful of the conflict of a debt collector that they simply pay to get rid of them without even verifying if the debt is valid. Under that great little law, The Fair Debt Collections Practices Act are all the rules for debt collectors to follow. One of your many rights is that you have the right to dispute the validity of a debt. This can mean anything from interest being charged, fees and penalties and original balance. If a debt has been sold and resold how are you to be sure that you owe anything? You ask. Simple as that. The first time you get a notice from a debt collector or a phone call, advise them that you want the debt validated. You have an absolute right to do so. If you have ever looked, you will even see on the actual notice from the collection agency, the following mini Miranda:

"This is an attempt to collect a debt. Any information will be used for that purpose. If you dispute the validity of this debt you have 30 days to notify us of such"

If you do not answer, the debt collector can assume the debt to be valid and it is possible for them to get a default judgment. To prevent third party debt collectors from collecting you MUST answer every communication from a debt collector properly and they cannot collect! For more information see: Dealing with Debt Collection

See: 20 ways to vacate a judgment: Vacate Judgment

[Lowtax4eva]

True, but I think the other 2 responses were based on the assumption that the debt was valid. If this colelction agency bought the debt from a credit card company they may just have all the required documents and information. What your describing above is true but most collection agencies do know what they are doing and could/will answer a debt validation letter properly.

[Lowtax4eva]

lawexpert : You don't have to pay "charged off" accounts

Um, what are you talking about? Charged off is when your account gets sold to a collection agency. How can you call yourself a law expert and not know this?

You still owe the money, not every collection agency is incorrect or working with bad/incomplete inforamtion when they contact you for payment.

[lawexpert]

America's appetite for borrowing money bloats U.S. consumer debt to a record high almost every month. As of September 2006, the tab stood at $2 trillion and was spurting at an annual rate of 10 percent. Through good times and bad, spending tomorrow's dollars today never goes out of fashion.

But all that borrowing produces a lot of financial heartburn. Every year, banks, retailers and other consumer lenders write off more than $70 billion in uncollectible debt, mostly hopelessly overdue credit-card balances. From there, the debts are bundled for auction and purchased by companies that pay next to nothing for the opportunity to take one more shot at collecting from debtors.

It is through that process that about $9 billion in secondhand debt has landed in the offices of third party debt collectors.

A decade ago, few creditors tried to collect on old accounts, figuring it wasn't worth the effort.

Today, however, collecting on old debts is a rapidly expanding industry. Aggressive companies can buy charged-off credit card accounts from the original lenders for pennies on the dollar or less. Then, they use credit-scoring and other new technologies to identify which debtors are most likely to pay. The players in this "junk debt" market range from fly-by-night outfits to well-established companies funded by Wall Street investors.

It's a business that's exploded in recent years as collectors discover gold in old bills. Debt buyers are expected to snap up $110 billion in face value of delinquent debt this year, said Paul Legrady, director of research for Kaulkin Ginsberg, a company that advises the debt collection industry. That's twice what was purchased in 2000.

Banks do not lend money they issue credit, your signature is what provides the credit. The bank does not take money out of their account and lend it to you. See: The United States and The Federal Reserve

So how can a third party debt collector legally collect any money from you? He never gave you credit did he? There is no contract between you and him. The third party debt collectors are called bottom feeders see Bud Hibbs Helps America Hold Debt Collectors to the Law!. Bud rates the 10 worst debt collectors in the country and describes how they illegally collect deliquent credit card debt by using scare tactics.

You should also visit educationcenter2000.com. The website has about 200 pages of information about the FDCPA and how to defend yourself when third party debt collectors try and collect old deliquent credit card debt from you.

[froggy7]

So how can a third party debt collector legally collect any money from you? He never gave you credit did he? There is no contract between you and him. The third party debt collectors are called bottom feeders see Bud Hibbs Helps America Hold Debt Collectors to the Law!. Bud rates the 10 worst debt collectors in the country and discribes how they illegally collect deliquent credit card debt by using scare tactics.

You should also visit educationcenter2000.com. The website has about 200 pages of information about the FDCPA and how to defend yourself when third party debt collectors try and collect old deliquent credit card debt from you.

So you think it's perfectly acceptable for people to run up debts that they can't pay, keep the stuff they got with the credit, and then just thumb their noses at people who want them to make good on the money that they got?

[excon]

To prevent third party debt collectors from collecting you MUST answer every communication from a debt collector properly and they cannot collect!

Hello expert:

You were doing great up until that point.

In this country, debt is bought and sold all the time. Given your plan, nobody would have to pay their mortgage because most of them have been sold to a third party. In fact, the purchaser of debt is entitled to get paid just like the originator of the loan is.

You also seem to think that because a bank actually didn’t lend money, that too is another reason one doesn’t have to pay it back. Nothing could be further from the truth.

Consequently, a third party debt collector can sue and collect accordingly. That doesn't mean they're NOT bottom feeders. It just means they're bottom feeders who can sue the crap out of you.

excon

[lawexpert]

Hello expert:

You were doing great up until that point.

In this country, debt is bought and sold all the time. Given your plan, nobody would have to pay their mortgage because most of them have been sold to a third party. In fact, the purchaser of debt is entitled to get paid just like the originator of the loan is.

You also seem to think that because a bank actually didn’t lend money, that too is another reason one doesn’t have to pay it back. Nothing could be further from the truth.

Consequently, a third party debt collector can sue and collect accordingly. That doesn't mean they're NOT bottom feeders. It just means they're bottom feeders who can sue the crap out of you.

excon

This is not what I think. It's THE LAW! The FDCPA was designed to protect consumers from illegal debt collection. Third party debt collection is illegal (they start the collection process by illegally pretexting your credit report wihtout your permission) and you do not have to pay because the third party debt collector BUYS the debt for pennies on the dollar and the creditor doesn't get any of the collection money. See: Bud Hibbs Helps America Hold Debt Collectors to the Law!

Third party debt collectors cannot sue if you defend yourself properly throughout the debt collection process. You can sue them for illegal debt collection. I can show you case law to prove it.

An advertisement from debt collection attorneys of Edelman, Combs, Latturner & Goodwin, LLC,
"Even if you know the debt is valid, you have the right to know that the debt buyer actually owns the debt. The debt buyer must be prepared to provide you with a copy of an assignment of the debt that specifically refers to the debtor by name, address, and account number. Also, beware: making even a small payment may revive the statute of limitations on an old debt which would otherwise be uncollectible".

[lawexpert]

So you think it's perfectly acceptable for people to run up debts that they can't pay, keep the stuff they got with the credit, and then just thumb their noses at people who want them to make good on the money that they got?

This is not what I think. IT"S THE LAW! The FDCPA was designed to protect consumers from illegal debt collection. Third party debt collection is illegal (they start the collection proces by illegally pretexting your credit report wihtout your permission) and you do not have to pay because the third party debt collector BUYS the debt for pennies on the dollar and the creditor doesn't get any of the collection money. See: Bud Hibbs Helps America Hold Debt Collectors to the Law!

Third party debt collectors cannot sue if you defend yourself properly throughout the debt collection process. As a matter of fact you can sue them for illegal debt collection. I can show you case law to prove it.

An advertisement from debt collection attorneys of Edelman, Combs, Latturner & Goodwin, LLC,
"Even if you know the debt is valid, you have the right to know that the debt buyer actually owns the debt. The debt buyer must be prepared to provide you with a copy of an assignment of the debt that specifically refers to the debtor by name, address, and account number. Also, beware: making even a small payment may revive the statute of limitations on an old debt which would otherwise be uncollectible".

[excon]

Third party debt collectors cannot sue if you defend yourself properly throughout the debt collection process. As a matter of fact you can sue them for illegal debt collection. I can show you case law to prove it

Hello again, expert:

K. I'm not going anywhere.

excon

[lawexpert]

Are you in jail?

[BAYLYN]

After A Leased Vehicle Is Repossessed How Long Must The Vehicle Be Held Before Resale?

[excon]

Hello B:

It's better not to post a question on someone else's thread. It leads to confusion.

Your answer is in your lease. They may not have to hold it at all. There is NO law on the subject.

excon

[Lowtax4eva]

"lawexpert" not every collection agency is operating illegally, you were asked to back up the statements you made and haven't yet.

By the simple fact that you can't back up your claims this sort of proves you just googled something about debt collection and found the site of some lawyer that can help you defend yourself, which is what your link seems to be.

Many, in fact probably most, colelction agencies actually do have a copy of the contract they are collecting based on and will provide it upon request. True there is occasionally one that will contact you with incomplete information, but in general write them back for proof they purchased the debt from your bank and make a payment arrangement.

[Lowtax4eva]

Just Because a Debt Collector Says You Owe a Debt Means Nothing!

Understanding that first and foremost is important. So many people are fearful of the conflict of a debt collector that they simply pay to get rid of them without even verifying if the debt is valid. Under that great little law, The Fair Debt Collections Practices Act are all the rules for debt collectors to follow. One of your many rights is that you have the right to dispute the validity of a debt. This can mean anything from interest being charged, fees and penalties and original balance. If a debt has been sold and resold how are you to be sure that you owe anything? You ask. Simple as that. The first time you get a notice from a debt collector or a phone call, advise them that you want the debt validated. You have an absolute right to do so. If you have ever looked, you will even see on the actual notice from the collection agency, the following mini Miranda:

"This is an attempt to collect a debt. Any information will be used for that purpose. If you dispute the validity of this debt you have 30 days to notify us of such"

If you do not answer, the debt collector can assume the debt to be valid and it is possible for them to get a default judgment. To prevent third party debt collectors from collecting you MUST answer every communication from a debt collector properly and they cannot collect! For more information see: Dealing with Debt Collection

See: 20 ways to vacate a judgment: Vacate Judgment

This answer, in full is directly copied off of a debt lawyers website! Go to the section called "good stuff" about 1/3 of the way down the page, see the link below.

Please don't fully trust lawyers when it comes to giving out information. Of course this website will only focus on ways to void a judgement, they want clients!

This case is in no way complex, a credit card company has sold the debt to a collection agency. Usually debts can be voided when it gets passed from one collection agency to another over the span of months or years and they lose information or important documents (like a signed contract copy) along the way. I would have to assume in the case of the OP the collection agency has all the information they need.

Credit Repair

[JudyKayTee]

[QUOTE=lawexpert]This is not what I think. It's THE LAW! The FDCPA was designed to protect consumers from illegal debt collection. Third party debt collection is illegal (they start the collection process by illegally pretexting your credit report wihtout your permission) and you do not have to pay because the third party debt collector BUYS the debt for pennies on the dollar and the creditor doesn't get any of the collection money. See: Bud Hibbs Helps America Hold Debt Collectors to the Law!


Bud Hibbs (and the site) remind me of the guy who wrote the books and gave the speeches about how no one had to legally pay income tax - I think he and a lot of his disciples are probably STILL in jail, STILL making payments to the IRS!

[JudyKayTee]

An advertisement from debt collection attorneys of Edelman, Combs, Latturner & Goodwin, LLC,
"Even if you know the debt is valid, you have the right to know that the debt buyer actually owns the debt. The debt buyer must be prepared to provide you with a copy of an assignment of the debt that specifically refers to the debtor by name, address, and account number. Also, beware: making even a small payment may revive the statute of limitations on an old debt which would otherwise be uncollectible".

They are addressing certain States in which they practice law and are talking large cases - and this is otherwise "puffery." Advertising by law firms is probably not a good way to prove your point. I am aware of Attorneys who advertise they get million dollar settlements all the time - somewhat open to interpretation as well as how many milliion dollar cases there are out there.

Please post your citations -