Collection agency?

Question

If you get sued over CC debt and a judgement is taken out, can they take personal items from your home (in NC)?
What if you send a validation letter and the agency does not verify your debt to you? What do you do?

Where do you find out what states a collection agency is licensed in?

Answer 1

I agree with smile - once a judgment has been filed, sending a validation letter is a wasted effort.

With that being said, you did not specifically state that you have a law suit or a judgment filed against you. So it does make it difficult in giving you the answer you need.

If you have a judgment filed against you - in NC the judgment will last for 10 years and is not renewable.

They may be able to place liens on your home, car, etc. unless all of your assets are not only in your name but in a co-signers name (spouse, etc)

NC is not a community property state, they cannot lien or levy anything that is not solely in your name.

If you have a bank account in your name only, you might remove the money and deal in cash.
If you have property that is in your name only, you will have to suck it up and deal with the lien. Placing property in someone elses name after receiving a judgment is bad news. They can go after you for hiding assets.

They cannot force you to sell an asset for a unsecured money debt judgment, they can only place a lien on it. If you sell the asset, they will be paid from the sale - if the asset is already encumbered by a lien (mortgage, auto financing, etc), they will have to wait in line to receive anything.

As for wage garnishment in NC, the general exemptions are:
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees, etc.


To find out if a collection agency is licensed and bonded, you would need to go to the NC Department of Insurance.
http://www.ncdoi.com/

If you have problems using their website, call them and ask.

If there is no judgment, but a suit is filed - you need to answer the summons to start with. If you are past the legal collecting SOL for your state, you need to include an affirmative defense of SOL in your answer.

The collecting SOL in NC is 3 years.

If there is no suit or judgment filed, you might send a debt validation letter, if they have been currently active in their collection attempts. Send it certified mail return receipt (create a paper trail) Do not sign the letter, print your initials or type your name only.

If they are reporting inaccurately on your reports, send a dispute to the CRA's after you receive the cert. mail green card back from the validation letter.

If they fail to answer the first debt validation letter and you are out of the collecting SOL, send a SOL letter. Which tells them the debt has passed the legal collecting SOL for your state and no longer legally collectible. (you might do some reading on the last link in my profile for a SOL letter template)

If you are still within the collecting SOL and they have currently been active in collecting but they fail to respond within 30+5 days from the date they sign the green card, send a second validation letter.

If they fail to respond to your validation letters but verify the trade lines on your reports, file complaints with the BBB, the FTC, your Attorney General and their AG.

If you are still within SOL and the collection agency has not been active for awhile, I wouldn't send anything since sending something will probably get them re-started in trying to actively collect.

Answer 2

NEDRA...CC Means Credit Card.


First, all that doesnt matter anymore. If there is a judgment you are too late and you can not ask for them to verify the debt any longer since "judgment" means that you have been sued and lost and the court has already decided you owe and will be held responsible for the bill...do you really need better verification than that?

Even if you had requested verification...that would have had to have been before you got sued and whats the point if they will just verify and you will be right back to where you started. All the bill collector has to do to verify is send you a copy of your invoices, credit app, etc.

Can they come into your home for a CC bill. No. but they can file a lien on your home if its under your name, they can levy your bank account, garnish your wages and attach to assets.

At this point there is nothing you can do but call opposing counsel and beg for a deal or a payment plan. There is really nothing you can do after a judgment has been entered.

They probably filed an abstract too and that judgment is good for 10 years. In some states they can renew an abstract once that would make the judgment good for 20 years from now. In other states like CA they can renew it over and over and over.

Licensed in the State? Ask the agency to verify it. They probably are.

The attorney that they used to sue you is probably local to you.
And the law suit is probably CC Vs. You not the Agency Vs. You.

If you have any further questions, need representation, etc. you can email me at [e-mail]

Answer 3

You're leaving things out...
What's a CC debt?
Do you not know the amount of your debt?
Go to your state's website online and search for "finance" or "collection agency" to find out the regulations for your state... AND
you should be able to determine if they are licensed in your state at your state website on collection agency licensing.

Answer 4

confer with the credit series employer and discover out related to the loan. If the loan is valid, pay it, or negotiate a settlement. series agencies paintings with debt that's not reported to a credit bureau except/till the series business enterprise determines that that is uncollectable. Examples are scientific debt and utility debt.