Stocks, Forex and Other Money Matters

So what does sueing for a debt really involve? The following report includes some fascinating information about can a collection agency sue for a debt–info you can use, not just the old stuff they used to tell you.

We routinely enter into joint representation agreements with counsel licensed in other jurisdictions to offer a great team towards attaining justice. Please contact us for a free consultation so we can put our resources to work for you. When selecting someone to represent you, ask the attorney how many of these cases they have tried in court and won. We have never lost a FDCPA trial. Do they misrepresent themselves as working for someone else, such as a phone company? Any deception, falsehood or deliberate misrepresentation is a violation that can be used in court against the collector.

Many suggest that you call a family meeting and have an open discussion of the debts you face. You do this by filing an official form called the Statement of Intention (SOI) with your other bankruptcy papers as well as mailing a separate copy of the SOI to your lender. There is practically no debt problem that you cannot deal with yourself with the right advice. Dealing with debt definitely does not mean borrowing more money or spending money to pay someone else to deal with your problem.

Send the original by certified mail, and pay for a “return receipt” so you’ll be able to document what the collector received. Once the collector receives your letter, they may not contact you again, with two exceptions: a collector can contact you to tell you there will be no further contact or to let you know that they or the creditor intend to take a specific action, like filing a lawsuit.

Now that we’ve covered those aspects of the isue regarding can a collection agency sue for a debt, let’s turn to some of the other factors that need to be considered.

So-called family arrangements are where family and friends may be prepared to give or loan cash or give guarantees to help you out in the short term. Creditors are often prepared to agree to these, as they are aware that the family is likely to help out if it will avoid the stigma of bankruptcy. The costs are not automatically awarded to the plaintiff. It is up to the court.

The amount that you repay, and therefore the amount that gets written off at the end of the 3 years, will depend upon how much you can realistically afford to repay over that 3 year period. If you have a regular income and/or assets that you can offer to your creditors then a Trust Deed may be an option for you. Keep your old landline phone but just turn off the ringer and then let the collectors call. They won’t bother you a bit.

Your fully optimized letter of claim is automatically generated from the debt and invoice data you enter into this site. If you delay you give out an impression of being reluctant or ill equipped to pursue payment. One telephone call can save all the costs and delay involved in Court proceedings! The benefits of debt relief can be reduced by the actions of so-called vulture funds. These are companies that buy up the debt of poor countries and then sue for the full value of the debt plus interest.

This article’s coverage of the information is as complete as it can be today. But you should always leave open the possibility that future research could uncover new facts.

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