My heloc is in foreclosure status. It was in collections with an agency. They have been giving me a settlement figure which is beyond my means. Last time I contacted the bank directly was told it's no longer in collections now in Charge Off Dept. ...
From the bank's perspective, money owed to it is an asset. Banking regulations, do not want banks to overstate they worth. So, when a receivable is unpaid for too long, the bank is required to charge it off they books. They can still try to collect it.
An example of this is two banks, each with $200 million of loans owed to it. One bank, all loans are current but the other bank, all loans are delinquent by at least 6 months. Obviously the second back is in worse financial position but if both banks could report $200 million as an asset of loans, they might super to be the same. Charge off regulations control this problem.
I was just contacted by a collection agency about a debt that I believed to have been paid off. according to the collection agency my last payment was July 2010. it went to collections in January 2011. I asked why they did not send me a certified ...
What you describe sounds very sketchy,
A debt collector must send you WRITTEN notice of your right to dispute the debt within 5 days after the initial communication. "Not in the letter writing business" just doesn't fly,
On an open account such as a credit card account, a payment does NOT restart the statute of limitations. The only thing that restarts the period is your acknowledgement that you owe the balance.
The statute of limitations does not extinguish the debt, it only bars the right to sue on the debt. Therefore, a debt collector may attempt to collect a time-barred debt so long as there is no suggestion that you could be sued. There are also some courts which have held that the debt collector must tell you when the debt is time-barred (what the collection industry calls "out of statute."
I would be leery as to whether there is a legitimate company.
we were going to buy a house , i put up all the money. when the house fell through i was never paid back
The statute of limitations is most likely 6 years.See question
auto that was repoed in 2008 creditors are still trying to collect, are their statutes of limitaion on collection of debt
I agree with Mr. Brewer but add that there are court decisions which hold that a debt collector must inform you that the debt is beyond the statute of limitations. If the collector fails to do so, it can be a violation of the Fair Debt Collection Practices Act which allows you to recover any actual losses, up to an additional $1,000, and have your attorney paid by the collector.
I recommend you contact a NJ attorney experienced in handling lawsuits under the Act.
I'm 54 year old disabled woman who worked 32 steady years in private sector. In 2010, due to my physical disability, I applied SSD/SSI benefits. Case was tied up in appeals over five years (went before two ALJs). On 7/13/2016, ALJ rendered part...
I suggest you speak to:
(1) the lawyer who handled your SSI appeal, or
(2) Newark-Essex Legal Services.
Co-signed on a person's bail and they stopped making payments.
First, the bondsman cannot directly garnish. Instead, you have to be sued and he had to win a judgment against you. You might have defenses which could prevent a judgment.
A garnishment can be permitted to enforce a judgment. There are 3 formulas to calculate the amount. They use the one which results in the lowest amount. I'm most circumstances, the formula which results in 10% of gross applies.
I answered the complaint on Jun 3 and filed a counter claim. I called the court whose clerk tells me that complaint was dismissed in 2011, and plaintiff has filed no motions, nor have they re-opened the case. I thought that In 35 days (I believ...
I am assuming that the case was dismissed for lack of prosecution and that you are the only defendant.
The pertinent Court Roller seems to be 1:13-7 which, in part, states:
"After dismissal, reinstatement of an action against a single defendant may be permitted on submission of a consent order vacating the dismissal and allowing the dismissed defendant to file an answer, provided the proposed consent order is accompanied by the answer for filing, a case information statement, and the requisite fee. If a defendant has been properly served but declines to execute a consent order, plaintiff shall move on good cause shown for vacation of the dismissal."
The Rules do not appear to give instruction as to what a defendant is to do when served after a dismissal when the defendant does not consent and plaintiff fails to file the appropriate motion. After being served with process (the summons and complaint), you could have just entered an appearance and the plaintiff would be obligated to serve you with the motion. Then, you could just wait for the motion (which you could oppose). The problem with that is you take the risk of a default judgment being entered if you don't get the motion.
The"good cause" standard is relatively low. I would expect it to be met if the plaintiff could give some plausible excuse for the delay and some showing off the absence of prejudice to you. Prejudice means the inability or unfair added difficulty in proving your defense or Counterclaim due to the passage of time. Without knowing any of the facts, I would not venture to guess what the court would do however, the fact that you submitted an Answer and Counterclaim suggests the possibility that you are ready to litigate the merits and, therefore, suffered no prejudice.
Under the circumstances, I'd suggest contacting the plaintiff in writing and either indicate your willingness to consent or demand that plaintiff file the appropriate motion by a certain date (giving a reasonable amount of time to do so).
for a medical bill of $316, the debt collector files and obtained default judgment for that amount. After 8 years he files for writ of execution and obtained judgment to garnish my wage, though I objected to the motion but the court denied it. Jud...
The facts you state are a bit confusing.
The Fair Debt Collection Practices Act governs the conduct of a"debt collector"while attempting to collect a consumer debt. A debt collector includes a lawyer who regularly collects consumer debts. For example, Michael Harrison, Esq. and Pressler and Pressler LLP are two NJ law offices which are debt collectors.
A medical debt owed by the patient is a consumer debt.
In effect, the Act requires debt collectors to treat consumers fairly, honestly and respectfully.. When the Act is violated, the debt collector is liable to the consumer for: damages for any actual harm, an additional award of up to $1,000, and attorney fees.
The facts you state may be the basis for a claim under the Act. Most lawyers experienced in handling FDCPA cases do not charge a fee to you because the Act allows them to recover fees from the debt collector. Therefore, I recommend you consult with an FDCPA attorney. You can find one at the website of the National Association of Consumer Advocates (NACA) or by searching for one on Avvo.
I have a nephew that owes me $4000 and refuses to pay me back..I won a civil judgement against him for the money owed...When in court, him and his wife told the judge it was under his bankruptcy which he has not filed yet with the Bankruptcy court...
You wrote that you already have a judgment. There is no need to take him to court again. Now, you need to enforce your judgment against his assets and income.
To get additional information on collecting a judgment select Self Help on the New Jersey Courts home page and review the downloadable packets under the section called "Collecting After You Win in Small Claims or Special Civil Part."
I paid a debt and the debt collector attorney said they will send a warrant to satisfy judgment. He said I would have to file it. Do I file it at bergen county or to trenton? Can I just mail it in with fee?
You mail it to the County if the judgment number begins with VJ. You mail it to Trenton if the judgment number begins with DJ or the Docket No. begins with L.
Send an extra copy and a return self addressed stamped envelope along with the fee so that you get back a file-stamped copy.
Its also a good idea to send by FedEx, certified or priority mail, or by any means where you can confirm it was received.