about debt collectors, if they do not give you written notice in 5 days, what happens? also if they threanten to take the money from your checking account can they do so if there is another account holder?
2007-04-17 05:31:33 · 6 answers · asked by heather s 1 in Politics & Government ➔ Law & Ethics
The laws vary from state to state and there are federal laws that also apply. No one can honestly answer your question without knowing which state you reside in or the state in which the debt occured. One thing for sure if they take the case to court either pay it if you owe or get a lawyer if you dont owe. Document everything including phone calls and times also save all letters.
2007-04-17 05:47:38 · answer #1 · answered by Bud W 5 · 0⤊ 0⤋
Certain notices are required by the Fair Debt Collection Practices Act, which is a federal law and there are financial penalties for a creditor's failure to follow those rules. However, keep in mind that this act only applies to third-party collectors, so if the original creditor is the one collecting, the law does not apply. Yes, the creditor can still levy money from your bank account, but only after going through the necessary court proceedings.
2007-04-17 05:38:00 · answer #2 · answered by OhioAttorney 2 · 0⤊ 0⤋
If it substitute right into a "judgement" then this is contained in direction of the courts and he might have already have been sued. There could be no clarification for a team business enterprise to call. the corporation might in simple terms bypass via and attempt to garnish his wages, connect his economic employer account or any authentic materials he has. no rely if this is a few thing like a credit card debt, then 15 years is outdoors of each state's SOL so as that they'd attempt to collect the debt yet no longer take him to court. the only element he has to make confident of is to make confident he did no longer reset the SOL quicker or later interior the previous few years, alongside with making a charge. If he did reset it then they'd nonetheless be waiting to sue him.
2016-11-25 01:11:39 · answer #3 · answered by ? 4 · 0⤊ 0⤋
They can't just take money from your checking account. There's a long court process they have to go through. They threaten to do a lot of things that they cannot legally do. People who don't understand their rights get nervous; that's what they want you to do. Take some time to educate yourself: read the applicable parts of this law:
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm
Get some credit counselling. You can find help if you look in the yellow pages.
2007-04-17 05:40:01 · answer #4 · answered by MOM KNOWS EVERYTHING 7 · 0⤊ 0⤋
thy can't take money out of your checking account unless you give them permission,don't let them bully you around.tell them to write to you and you set up some type of payment plan if thy keep bugging you call the police
2007-04-17 05:37:10 · answer #5 · answered by Anonymous · 0⤊ 2⤋
Why wont you just pay your bills?
2007-04-17 05:34:10 · answer #6 · answered by Anonymous · 0⤊ 3⤋