For years, I felt stuck in the same cycle of debt, managing with minimum payments and feeling like I’d never get ahead. I know a lot of people feel the same, just trying to keep their heads above water. Eventually, I hit a point where I knew something had to change. I took control and learned as much as I could about managing money. It wasn’t easy, but slowly I paid off the debt and got to a place where I could finally save and even invest. Now, I’m debt-free and on track to retire with $3 million. It’s crazy how I went from drowning in debt to actually enjoying financial content, something I used to ignore entirely
I agree, luck plays a role, especially in the short term, but consistent results tend to come from more than just luck. When I had only saved $150k, I realized I couldn’t afford to rely on luck or time alone. I needed a more deliberate approach that wasn’t just hoping for the best. Thats when I found Emily Ava Milligan, a fund manager whose approach to balancing risk and growth gave me the confidence to build from that foundation
I done this process 15 years ago when I was buying my house and I beat a lot of debt collectors. I wrote the letters, then I stop answering the phone and if I did, I would say it's the wrong number. One creditor took me to court but the statue of limitations had run out and they couldn't prove it was my debt, hell and I didn't even remember. But this gets exhausting. No way in hell I'm going through this again. Bankruptcy is even worse. Lot of paper work involved. I guess I learned my lesson. 😫 But when times get hard you tempted to use them cards. It best to have 1 major cc for emergency and a gas card.
Hi! Great video! This has been very helpful. If i wasn't seeking a preapproval in 2 weeks I would start the dispute process. Can you link his book in the description please?
Hi, A motion to compel arbitration is awesome! On smaller debts especially! ---------If it is in the contract that THEY cannot sue you, is it not some type of FRAUD if they get a Judgment??? Can you go back to court and fight a judgment, on the fact that the debt collector violated the original contract? Is this any type of FDCPA Violation? THANK YOU----- for a Great and informative channel!!!
You are right also the debtor has to pay for arbitration and it’s expensive for the debtor ALL CONTRACTS LOANS CREDIT CARDS CAN BE FORCED INTO ARBITRATION ITS IN THE CONTRACTS
Excellent…. Other questions to be asked would be…..How does collection agencies respond to different state status of limitations because it varies! What are collection Agencies required to display even though status like WI are more favorable to collections than customers? If I send a dispute latter asking for specific information, are they required to provide it? Thanks and god bless!!!!
I would like to suggest the Recorded Phone call technique (record debt collector and tell them you are working, studying, child care and can't talk)before cease and desist to build up evidence of harassment!!😅 very powerful technique.
An Agency is harassing me by phone about a debt I have zero knowledge. I have denied the debt. I asked for them to validate via mail and stop calling. They will not give me their address to send a cease and desist. They call 3x a day. Any advise?
Did they even send you a letter with the original creditor name and amount owed ? On that letter should also have the collection agencies address if they don’t provide any information and details just block them until they send you a letter with info and then you can dispute and ask for them to verify the debt . If they are not giving you any info you shouldn’t either since you have no contract with them . They have to do things accordingly and still follow laws. They are not supposed to call you 3xs a day that’s harassment .
I have received nothing but harassing phone calls. They won't provide me with anything. They keep saying they sent me a letter, but that is a lie. They use two different company names but call from the same number twice a day.
@@DulceBesso yes , I wouldn’t worry about it then if they can’t provide simple legal information I wouldn’t talk to them the next time just say this will be my last talk with you record it let them know they are being recorded and say this will be my last attempt to ask for the address as to where I can send you my dispute if needed be . If you can’t provide a simple address or fax where I can submit this too then our conversation ends here because then you are violating FDCPA guidelines and laws at this point and don’t talk to them again . Because seems like they are trying to get you to pay because they probably have no grounds and won’t even be able to provide debt verification/validation . That’s probably why they are giving you the run around . Yes they are violating FDCPA by calling you that many times on the phone say I am letting you know from here on out to cease and desist since it seems I can’t even send you a letter to document I will document it on the recording now and good bye have a nice day .
Make sure when you say cease and desist and not to contact you by phone anymore . If they do you have the right to counter claim a lawsuit against them for violation .
Hi, thank you very much for the information. I have already a suit from a Collector, with the help of SoloSuit we sent the answer and the motion to compel arbitration, which is in the credit card agreement. If I didn't understand poorly, because arbitration is in the credit card agreement, does that mean that I can not be sued? I would like to know also, just in case I have to go to Court, if is there where I have to ask the Plaintiff for an Assignment of debt. Thank you very much! And I am sorry for my English, it is not my first language 😉
If there is an arbitration clause in your credit card agreement, you can still be sued for the debt. But if you file a motion to compel arbitration, the case may get pushed out of court and into a private process called arbitration.
the original credit was given under false pretenses. You were NOT given any "money." The whole credit card industry is scamming us when we SIGN their contract. Please tell us the entire process from start to finish. WHERE does the credit card bank get the money that they claim you have in "credit" balance?
Exactly! They make it up and basically print the money and then charge you insane interest. We are the real value and money. Banks and government make up and print money. It’s a rigged game to keep us all very trapped in a rat race for failure
Many people say reply to them, and many people say don't ever reply to them when they send letter asking for the money. I love your approach, Do we reply or not?
Don't ignore debt collectors. If you have been contacted by a collections agency, ask it to verify you debt by sending a Debt Validation Letter. If you've been sued, be sure to file an Answer into the case to prevent a default judgment. SoloSuit can help you do both and more: www.solosuit.com/
How do you prove you never got the required by law letter from a debt collector when they get an acct? I have a couple debt collectors that bought old accts but I never got anything from them to have the opportunity to get them to verify the debt
Unfortunately you can't. If they didn't have the correct mailing address and received returned mail, you can provide them with a current address and they will be obligated to send you the 30 day notice again. If they did not have return mail, they may still choose to send it, but you may not want them to have your current address. An inability to get mail to you is also an obstacle to get a summons to you. But it's impossible to prove you didn't receive something. That's like trying to prove you aren't dreaming right now. lol. And the agency or law firm that sent the 30 day notice is almost assuredly using a collections system that documents all outgoing mail, including what statement was sent, when and where. Meaning they can prove they sent it.
@@ArtimosThug You don't have to prove you didn't receive anything. You can't prove a negative. They have to prove you received it. That's why we use certified mail return receipt requested with our communications.
Just received a letter from an attorney claiming Midland was in the process of filing a lawsuit against me. I believe the debt is 6-7 years old now. But how would this attorney know of Midland’s intent? Are they working together?
The are SOL don’t pay when brought to court just say it’s past the statue of limitations and look up the law in your state and use that law code. What state are you in?
If the agency is trying to collect a debt and isn't licensed to do so, they may be in violation of the Fair Debt Collection Practices Act (FDCPA). Read how to submit a FDCPA complaint and stand up for your rights here: www.solosuit.com/posts/file-fdcpa-complaint-debt-collector
@@phillatella6470 Imagine the medical debts you owe for a life saving emergency service… what scumbag would try to get out from under that debt. They should get better insurance? They should avoid situations that caused the unforeseen accident, maybe hire a fortune teller?! 😮
Thank you for this interview. Those of us who live in this amazing country that unfortunately been driven to an off the rails capitalistic market driven to make the rich richer and the poor poorer. The financial institutions have been committing all types of fraud and manipulative practices to take money from common people. We should be responsible for our financial health, but we have been ill equipped to battle these goliaths.
Collector called my employer issued phone and I answered it because I have too for emergency. I was told there was a civil suit and if I wanted to know more I was transferred to a paralegal. That’s when I confirmed my identity to find out why I’m being sued. I was told it’s for a 19 yo cc debt. And if I didn’t pay I’ll be sued. I advise to sue because the sol passed in California. I was told I signed a tolling agreement. Is this a scare tactic or a legitimate claim by the collector?
In 1999 I claimed bankruptcy, the bankruptcy lawyer found one of the creditors was not licensed in my state. After the bankruptcy, he passed that creditor to another lawyer to handle the case to sue them. We sued the creditor and won. The lawyer said I will get two checks, one for $2,000 and another for like $1,500 something like that. When I got the first check ($2,000) he told me not to pay my bankruptcy attorney with that money, I thought that was strange. When I didn't receive the second check I went to the office and found it was cleared out, no signs, no desks, nothing, cleaned out. Like the scene in the movie The Game, just an empty building. The bankruptcy did go through and that first check for $2,000 cleared and I got the money, I wasn't going to complain.
This is referring the statute of limitations on debt. Creditors and debt collectors must file a lawsuit to collect a debt before the statute of limitations has expired. Each state has a unique statute of limitations. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
So is it true that if credit cards go to collection the collection agency has to prove that you agreed to paying them the deb Regarding the debt validation letter. If they have all the information or they're missing information. Is it realistic to think that this could actually be dismissed in court?. And what if there are multiple cards let's say I have seven cards Would the court still rule my favor if the credit collection company didn't have the right information or permission signed by me to agree to paying the money to them? Thank you very much for taking the time to read this. Also I'm 64 years old and I don't want to lose my home that's all I have. My car is old. I do have equity in my home so I'm very worried.... I have called all my credit cards and I've made arrangements but I'm still not sure I'm going to be able to keep up with all the payments. Any help would be very appreciated thank you
If the debt collection agency cannot prove they have the rights to sue you for the debt, and if the debt is in any way invalid, their claims won't stand in court. This is why filing an Answer to a debt collection lawsuit can be very powerful. It shuts down debt collectors who are trying to collect invalid debts, even if they don't know that's what they're doing. You can fill out an Answer to your debt lawsuit here: www.solosuit.com/debt_answer
You are highly unlikely to lose your home. The amount of the judgement would have to exceed the value of your house. An abstract lien however, would be probable should they render a judgment against you. As far as the debt validation, or verification, the bar is actually set pretty low as to how much information the collection agency is obligated to provide to you to validate the debt. They certainly are not obligated to provide you a signed copy of the original terms and conditions. Typically a credit card contract is an electronic signature, or you simply agree to the terms and conditions upon activation. Keeping communication open is smart. You may want to explore using your equity to repay your bills. Or simply ride it out. There are ways to protect yourself from the enforcement of a judgment. Best of luck to you!
You're 64 years old you might need the equity in your house do not take equity in your house to get rid of these people I would need some more information on that I need to study what they're sending you who they are there's a lot of things they need that's generally speaking third-party buyers don't have all the papers that they need if you go there and you know you're right or file it in your answer original creditors a little bit harder to fight or win against but do not borrow Equity from your home at 64 years old Social Security Disability alimony and child support are all exempt from garnishment
Sending a debt validation letter is no kind of promise that you're going to pay them in fact what you're saying is you need to send me more information before I even know if I had this debt ever and if they are unable to send you what they need they have to go away and have to take it off your credit report and if they're old again the statute of limitations if they're past it or coming up on it just don't even pay attention to it ignore it you're close to Social Security pretty soon that money will be judgment proof they won't make you sell your primary house they can put a lien on it meaning when it's sold they get their money but that's only if they have a judgement against you we're going to always try to stop the judgement in order to do that you have to send them an answer
What does validation include? I had a fraudulent credit card debt and they sent me the stupid billing statements. There literally was nothing else: no contract, no data showing what was purchased with that card or where purchases made. They sent a 'we validated this debt'? Is that validation?
Sometimes a debt collector will successfully validate the debt. Even if they do this, you don't have to pay off the debt entirely. You have a few options. Send a cease and desist letter, requesting they stop contacting you except for by lawsuit. Make a settlement offer to satisfy the debt by paying only a percentage of it. Do nothing. Wait for the statute of limitations to expire. Pay the full amount of the debt. Generally, the first two options are best.
Can you threaten to file bankruptcy to get a collector or law firm to not bother suing you or pursuing collections further? If they know you will just file bankruptcy it would be a waste of time for them
Sounds about right. Check out our live Q&A with a bankruptcy attorney to learn more about bankrupcty and collections: ruclips.net/video/1mwW0TD3VHc/видео.html
@@solosuit Somewhere in the consumer law ( FDCPA?) It states that debt collectors cannot be lawyers, or vice versa, I remember reading it a handful of times.
Of course they can they are actual lawyers they actually passed the bar they actually could do something worthy with their life but the debt collection company that does not have a lawyer can I take you to court but they could try to get you to pay the money but if they feel like it they're going to divvy it out to law firms that solely do collection
I was served a summons yesterday. Is it too late to request a debt validation? If not, do I still need to submit a response to the summons within 30 days while waiting for the validation?
At this point, you can still request a debt validation, but it might not be as useful as it would have been before the lawsuit. Yes, it is best to respond to a debt lawsuit within the state's deadline to block a default judgment. You draft and file your Answer with the help of SoloSuit: www.solosuit.com/debt_answer
Hello, I have a question about my credit card. I got a credit card with a $300 limit and the minimum I owe is $17.91. It says: “Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. The table is based on your standard minimum payment and does not include any past due and over limit amounts. For example: If you make no additional charges using this card and each month you pay ... only the minimum payment You will pay off the balance shown on this statement in about... 1 months And you will end up paying an estimated total of ... $18.00” Do I pay $17.91, $18.00, or more than that to avoid interest? And is it best to pay by the statement date or the due date? Or do I split it into paying half by the statement date and the other half by the due date? Also, would it be best to use my credit card every month?
Their warning is like the Surgeon General's warning on a pack of cigarettes. If you owe $17 and the minimum payment is $10 and you pay $10, then the remaining $7 will start accruing interest that will be due the next payment cycle. You'll pay more than you owe because of the interest. If you're trying to build credit, use your card for purchases and make sure you pay the full amount every month. Your credit report will show a record of timely payments. Just don't ever buy anything you couldn't buy with your current salary. You've been brainwashed since you were born to be a consumer, and they're counting on you to buy now, pay later. Handle that credit card like it's a poisonous snake, because it is! Make one full payment before the due date.
Did I understand correctly, if the statute of limitations has expired on a debt, which is 4-6 years in California, the debt collector can still sue and win a judgment? I thought that after the statute of limitations had expired, they could still call and ask you to settle, but there isn't much else they can legally do
They may still sue, but their case will have no legal standing. However, it's up to the defendant in the case to raise the expired statute of limitations as an affirmative defense. In other words, yes, they can still sue, but if you bring up the statute of limitations, the court will most likely dismiss the case. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
@@solosuit Thank you for the answer. These are two personal loans that I cosigned for before my daughter passed away. I was able to settle on some of her other debts, but the remaining are so old that I don't want to deal with them. I haven't spoken with any of the creditors, but they have become regular guests in my voice mail. The right thing to do would be to settle with them, but right now I am so broke, I couldn't finance a toaster with half down.
@@NonstickMilk If you get sued, just be sure to bring up the statute of limitations as a defense. And be careful about making payments on the accounts or acknowledging that you owe the debt, as this could reset the clock on the statute of limitations.
@@solosuit Thank you again for sharing this information with me. I have spoken to no one who has reached out to me regarding these last couple of debts. Oh, they have called and left repeated voice mails and have even sent letters to my house. I have managed to ignore every last one of them. I understand that I can ask them to quit bothering me, but I won't even do that because I don't want to speak to them whatsoever. I just want to be prepared in case they do decide to push it and take me to court. I will answer the summons without acknowledging that I owe the money, while at the same time pointing out the statute of limitations have come and gone.
If the debt is valid, debt settlement may be your best option. Be aware that debt settlement will affect your credit score, but it's usually better for your score than no payment at all. Learn more here: www.solosuit.com/posts/improve-credit-score-after-settlement
I've read that settling with a debt collector will not help your credit score. Bear in mind that if you do settle for a smaller amount, you'll owe IRS taxes on the amount forgiven.
A debt consolidation agency is garnishing my check already and today they sent me another letter saying there tring to get another 1000 can they do that
@@brianjuan43 so I was litterally at the court house for the trial on Wed. The judge said they're running behind anf if we want to settle wit the plaintiff then we can. If not, we can leave. What will happen is well get a judgement. But they can't take your house, car or hsvr your employer pay them. Thr debt will end up being a write off. I'm surprised he said all that openly to be honest but that's what the judge said.
I received a letter in the mail for my ex-spouse from a "prominent" debt collection company and it said "Due to the age of this debt we will not sue or report to the credit bureaus about this debt..." If that is printed, why bother sending a letter?
That's a good question, but at this stage, it might be best to ignore their communications because they might be trying to reset the clock on the statute of limitations for debt. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
First he said that if debt is already passed statute of limitation they can still sue you then he said that they can’t do much if the statute of limitation has passed. Can someone guide if they can still sue you if statute of limitation has passed.
They can not sue you if the debt is past the statute of limitations. But they can continue collections efforts. If you admit to owing the debt and agree to repay it, or make a payment however, the statute of limitations resets, and you can potentially be sued again.
This isn't necessarily true. They can still sue you, but they won't have legal grounds to do so. This means that, if you don't bring up the expired statute of limitations to the judge and jury, they court won't know that it's past the statute. It's your responsibility to bring this up in court. In short, yes, they can still sue after the statute of limitations is up. However, if you use the expired statute as a defense in your Answer, the case will typically be dismissed.
@@solosuit Not having legal grounds to sue is the equivalent of can’t in this context. It is a blatant FDCPA violation to attempt to obtain a default judgment on an account that is out of stats. Is it within the realm of possibility they might try? Of course. Most debtors do not file an answer at all. But “can’t” in this context, to me would be interpreted as within the law, not the realm of possibility. It would be like saying, “They can’t call you at work every 4-5 minutes”, and responding with, “Sure they can, they just don’t have legal grounds to do so”. But I absolutely get your point, and it was better being said than left unsaid. Knowledge is power. Keep up the good fight! Have a great day!
You already have a case cuz they're not even allowed to threaten you or curse at you or be mean to you or anything like that so if I were you I go to a lawyer that does violations and ask him if he would file anything for you I don't know your details but you might have something
True. Debt collectors cannot harass you as per the Fair Debt Collection Practices Act (FDCPA). Learn more about what debt collectors can't do from our FDCPA Violations List article: www.solosuit.com/posts/fdcpa-violations-list
Hi, I am filling out a CSU application for college and it is asking me to input my Parents' adjusted gross income (AGI) for 2022 and my Parents' untaxed income and benefits for 2022. I know the AGI can be found on line 11 of the 1040 form on the 2022 Individual Tax Return, but I want to confirm where I can find the amount for the untaxed income and benefits? Is it line 2a where it says “Tax-exempt interest” or is it line 2b where it says “Taxable interest”? Line 2a is blank, but line 2b has an amount. Which one would I put? Thank you!
We asked ChatGPT for you: Untaxed income and benefits for the purposes of college applications and financial aid typically include several different types of income that are not taxed, such as: - Tax-exempt interest income (found on Line 2a of the IRS Form 1040) - Untaxed portions of pensions (excluding rollovers) - Untaxed Social Security benefits - Child support received - Workers' compensation - Disability benefits - Veterans’ non-education benefits - Housing, food, and other living allowances paid to members of the military, clergy, and others For your application, you should report the tax-exempt interest from Line 2a of the IRS Form 1040. This amount represents income that is not taxed and therefore would be considered untaxed income. The amount on Line 2b (Taxable interest) is already included in the Adjusted Gross Income (AGI) and is not considered untaxed income. If you are unsure about any other sources of untaxed income your parents may have received, it might be helpful to review their financial records or consult with them to ensure all relevant sources are accurately reported.
If you want to settle your debt to fix your credit, but I hear you’re not supposed to pay CAs. Then, how/who do you negotiate with to make absolutely sure your debt it’s totally off your CR and it doesn’t come back to hunt you through another CA??
You can probably talk to the law firm that is representing the collections agency and ask that the debt be removed from your credit report as part of the agreement to pay it off.
"we had their social security numbers and all info on people".....sounds illegal, especially when there is no contract between the person and the 3rd party collections agency.
@solosuit so when the collection agency send the statements of the debt that's bc the original creditor also share/sell all that personal information with them? Does the statements validate the debts or you send another cease and deceit or ignore completely?
I hate debt. It chains me. But i took it from someone when i needed it so i have to give it back. Otherwise I’m just a petty thief am i not? What about my credit score?
The CC company had robbed you blind but how they do it is information not easily found. You don't owe a damned thing. only people can create credit. Corporations are pieces of paper with no hands.
Im in like 90k debt, I have 2 homes 1 is a rental, Im in the process of getting that ready to sell. If I did bankruptcy they would take that property either way so at least this slightly better option. Ive never missed a payment I would use 0% balance transfers and switch the debts around but its just to the point its not possible and getting rates 22% over 5% the transfer fee is just no possible to keep up. 1 card wants 900 min month. Id like to use profit from my home sale to pay off debt but Im not sure it will be 90k profit it should be good amount but Im trying to find method that I might get them to settle even for 25% less so it be a wash and sale will get me back to 0. Ive been seeing that I need to miss payments to start negotiation. Im in a state where the statute of limitations is 6 years, I sell online so I don't believe wage garnishment would work against me. I've had good credit but at this point I don't need anything credit based if I had to hunker down for 6 years I think I could.
Questions not answered...1. If a collector says and sends a letter that they will remove collections from you credit report if payment is made...do they actually do it or are you taking a gamble they will? 2. If they remove it, does your credit report go up?
If they sent a letter stating they will remove the mark from your credit report, usually they will. If they do not live up to their word, you might be able to use this information as a defense in your case moving forward. Usually, when a negative mark is removed from a credit report, the score increases.
Why don't they delete if they can't collect or sue you. Limation is 5/25
10 месяцев назад+5
DO NOT answer mail and DO NOT answer calls from numbers you don't recognize, doing either of those constitutes "engagement" with the collector and WILL reset the statuet of limitations, even if you have a collection for 5yrs you might think it will drop off in 2 yrs but if you made a payment of something as small as .50 that alone will also reset the statuet of limitations leaving it wide open to attempt to sue!!!
So question, if a debt collector write me saying i owe them. can i write them back and say no do not have any legally binding signed contract. Please don't contact me no more. They wrote if i ignore the letter, they'll assume i owe the money. Do i ignore or write back like i mentioned? Thanks!
@@Luxurylivingdesigns It depends on your ultimate goal. If you want to settle, you can write back to negotiate. If you just want to fight the case in court, you might want to wait until your court date.
I don't know your statement you're in so you have to check with your state laws but I'm in Jersey and they have to leave you $1,000 in your bank account and if you don't tell them your bank account they have to subpoena every individual bank account and see if you have an account there and then they freeze the money and you have 10 days to object to it at a court level you have to go to a hearing bring your bills tell them you need your money blah blah blah you'll probably get your money back from that if you don't have a lot they will go after wages to but again there are rules on that you have to make so much and if you don't they can't do what they say they're going to or if they do it's illegal but if you don't know it and don't go to the court with an objection again if they were taking 25% of my pay at one time and it was the first I heard of it because I never got a notice to appear or I would have so they got more than they were actually legally able based on my salary you have to object to that too and you only have a short period of time like 10 days I used my debit card to try to get pizza and it wouldn't go so I looked it up and I called the bank the bank has to tell you who's a subpoena is from so don't let them say they don't know usually a court officer or a sheriff and then you call them they have to tell you who it is and then you have to file your objection with the court again and bring your bills and your pay stub and the judge could say it's a hardship to you and he will lower it to something very low at but never ever give in to being scared over the phone call the court ask them if they have a judgement against you if they got a default judgement against you because they sent it to the wrong address and you can prove that you did not live at the address that they sent it to you're golden
That's all great information. To learn more about how to stop wage garnishment in any state, check out this article: www.solosuit.com/posts/can-i-stop-wage-garnishment#:~:text=File%20a%20Claim%20of%20Exemption,must%20do%20so%20almost%20immediately.
I dont pay. Ive defaulted on so many loans and debts and never had anything happen. Sometimes we hit hard times and these banks always get bailed out...how come government doesnt bail me out? Screw debt collectors
Most people feel morally obligated to pay back their debts, but life happens, and many creditors and banks will work with people who are experiencing hardship to find a resolution. But not always, so it's a tricky balance to find between debtors and creditors. That's why debt settlement can be a good option for those who can't afford to pay off the debt in full but want to resolve things in good faith.
Lvnv funding llc & midland credit management has swarmed so many people by tryna collect a debt but they fail to cooperate with issuing documents requested from person they are contacting. Jus smh
Midland Credit Management is one of the most litigious debt collectors in the USA. They sue a lot, but they are also usually willing to work with consumers to settle debts for less.
@@solosuit yes I've heard.... Y should 1 pay $$ to a company you never had no dealings with? If the original creditor sold debt to collections for a penny on a dollar then that's what they should get back in return from the consumer. If cc company insurance paid debt then there is no debt, but debt collectors make up paperwork as tho they were original creditors when they was not. Midland & lvnv has caused a lot of problems for alot of people and it's not fair ijs.
You're right. It doesn't really seem fair, but unfortunately it's the law, and LVNV and Midland may have the rights to collect the full amount, regardless of how much they paid for it. This is why settlement might be the best option. And SoloSuit can help you start the debt settlement conversation: www.solosuit.com/solosettle @@classymakr
Debt collectors have the right to report delinquent debt to the credit bureaus. It's a way to hold consumers accountable and incentivize them to make their payments on time.
Guys is so easy to make money taking debt collectors to court 👍 you can actually make a good living just taking them to court they will buckle every time ..
Never ever pay a debt collector. Why would you pay a collector if you do not pay the original debtor? A few years ago a debt collector tried to sue me and with the help of Solo Suite I won the case. The fact of the matter is the collection agency can not prove that they own the debt. Solo Suite answered the complaint and sent it to the court and to me..
If a debt collector has purchased your debt, you might have to pay them if you want to settle the debt. So, there are certain instances in which it makes sense to pay a collector. We're glad to hear you won your case. Congrats! We'd like to hear more about your experience. Please send us an email at support@solosuit.com
@@solosuit The debt collector can not prove that they own the debt. It is like I bought a burger from McDonald's and did not pay And then Burger King tried to collect. All you have to do is challenge them with the right docs.
Your individual State Court Superior Court dictates what they need to prove that the owner and it isn't much at least not in my state so yes if they really purchased it even for pennies on the dollars they can hire a debt collecting lawyer to take you to court
Just be sure to read your arbitration clause first. In some cases, you may be responsible for arbitration fees. Learn more here: www.solosuit.com/posts/how-arbitration-works
And by the way if you hadn't paid them in a long time find out the statue of limitations where you live and if it's close to being over do not pay them do not speak to them do not try to be nice and say I'll give you a dollar because that starts the clock all over again if 4 years or 6 years pass they can't get the money from you anymore they could try but you need to know that for your own information the statue of limitations and if it's past that that is your defense and it is an absolute one
You're right! You should always check the statute of limitations on your debt before taking action or responding to a debt collector. You can check the statute of limitations on your debt here: www.solosuit.com/posts/statute-limitations-debt-by-state
To enroll in our SoloSettle Assist program, you only have to pay 10% of the debt amount. This will get you a lawyer (from a partnering law firm) who will represent you in the lawsuit, file necessary legal documents into the case, and negotiate a settlement on your behalf. So, if you owe $3,000 in credit card debt, you only have to pay $300 to enroll and get an attorney. That's $300 for an attorney. It's a steal. If the law firm is successful in settling the debt, you would pay a remaining 9% to SoloSuit. Again, this is an incredible offer because it takes away the burden of representing yourself and negotiating with collectors. Well worth the money, and SoloSuit has helped people save THOUSANDS including after paying for the service. *Note that prices are subject to change.*
Some people just aren't in a position to pay. If that's the case, debt settlement can be a good alternative: www.solosuit.com/posts/settle-debt-in-3-steps
Thanks for interrupting him at 19 minutes and two seconds right before he was just about to make his point. The problem with this channel as well as many other channels covering this particular topic is that you’re all scared of telling people the truth for probably two reasons. Reason number one: Junk Deb buyers are really bad people, and they will stop at nothing to collect the debt, which means causing you some harm. The number two reason: is that the information can save people a lot of money but could also make you a lot of money, so I understand you wanting to earn, a little money for making these videos. However, you should’ve let that guy make his point because you shouldn’t pay them anything.
If you actually owe the debt, it's best to pay it off or settle. That's just facts. However, in many debt collection cases, the debt is invalid, which we covered extensively in this video. In that case, it's best to fight the lawsuit or ask collectors to validate the debt before the matter escalates to legal action.
@@solosuit I appreciate what your team does overall and I'm not arguing that but to my point, I felt like he was interrupted out of fear of what he might have said in regards to not paying the debt. I strongly believe after that account has been charged off, whether or not you actually "owe the debt" no longer matters. I will say this: The debt collection agencies are unbelievable bullies. To anyone who may read this, battling them isn't for the faint of heart. They will stop at almost nothing to collect from you and have no qualms with violating your rights in the process. As long as you stand your ground, you can beat them but it does require doing a great deal of research, including visiting your website.
Why does a person have to "keep" a job? If you find a better job there's no job police or laws that make you stay where you are. A person is free to move around and explore. That's not the same as not being able to keep a job. Companies are no longer loyal to employees so employees don't have to be loyal to companies.
Debt collection agents sit in a cubicle and do.this crap Job because They could not get a better job. The average time on thr job for average debt collectors is 80days . They cant stand the job any longer
I think most people have no problem paying their actual debts. The problem is paying obscene compound-interest on that debt. It's criminal usury and should never be allowed to happen.
I hate debt. It chains me. But i took it from someone when i needed it so i have to give it back. Otherwise I’m just a petty thief am i not? What about my credit score?
![Felix "Unfair" | [Stray Kids : SKZ-PLAYER]](http://i.ytimg.com/vi/Oswujxm2Ag0/mqdefault.jpg)
![We TEAR APART a debt collector lawsuit [Midland Credit Management]](/img/1.gif)
For years, I felt stuck in the same cycle of debt, managing with minimum payments and feeling like I’d never get ahead. I know a lot of people feel the same, just trying to keep their heads above water. Eventually, I hit a point where I knew something had to change. I took control and learned as much as I could about managing money. It wasn’t easy, but slowly I paid off the debt and got to a place where I could finally save and even invest. Now, I’m debt-free and on track to retire with $3 million. It’s crazy how I went from drowning in debt to actually enjoying financial content, something I used to ignore entirely
I’ve always thought luck plays a huge role in investing. Without it, it’s hard to really succeed, no matter what resources you have
I agree, luck plays a role, especially in the short term, but consistent results tend to come from more than just luck. When I had only saved $150k, I realized I couldn’t afford to rely on luck or time alone. I needed a more deliberate approach that wasn’t just hoping for the best. Thats when I found Emily Ava Milligan, a fund manager whose approach to balancing risk and growth gave me the confidence to build from that foundation
I did a quick search on the name and found her page, and I’m curious to learn more now. I appreciate that you pointed that out
This is amazing! Please teach us your ways! Glad you were able to get out of debt and save for retirement. We hope you enjoy yourself!
@@solosuit these are spammers, dear. Please block and delete their comments. They are speaking to people's greed and desperation.
I done this process 15 years ago when I was buying my house and I beat a lot of debt collectors. I wrote the letters, then I stop answering the phone and if I did, I would say it's the wrong number. One creditor took me to court but the statue of limitations had run out and they couldn't prove it was my debt, hell and I didn't even remember. But this gets exhausting. No way in hell I'm going through this again. Bankruptcy is even worse. Lot of paper work involved. I guess I learned my lesson. 😫 But when times get hard you tempted to use them cards. It best to have 1 major cc for emergency and a gas card.
Glad you were able to resolve your debts, and everything you mentioned in your comment is good advice!
I use two credit cards. 1 card likes to act up. Have to use the other just in case one doesn't work. All in order to survive.
The information was great, thank you. The only thing that was a little annoying was that music in the background.
Thanks for the feedback. We'll keep that in mind for future videos. 😀
Music was very annoying
@@aclancy5157 no its my fav song
Hi! Great video! This has been very helpful. If i wasn't seeking a preapproval in 2 weeks I would start the dispute process. Can you link his book in the description please?
www.amazon.com/Confessions-Ex-Bill-Collector-Collectors/dp/1466371315
Just wanted your video again and I am impressed with this fantastic real life video…. Awesome job congratulations!
Hi,
A motion to compel arbitration is awesome!
On smaller debts especially!
---------If it is in the contract that THEY cannot sue you,
is it not some type of FRAUD if they get a Judgment???
Can you go back to court and fight a judgment,
on the fact that the debt collector violated the original contract?
Is this any type of FDCPA Violation?
THANK YOU----- for a Great and informative channel!!!
You're welcome! We're happy to help.
@@solosuitI'm actually curious about the questions he asked above that weren't answered.
You are right also the debtor has to pay for arbitration and it’s expensive for the debtor ALL CONTRACTS LOANS CREDIT CARDS CAN BE FORCED INTO ARBITRATION ITS IN THE CONTRACTS
This guy knows his stuff, I just wished the interviewer would have asked more key questions! But otherwise it wS an excellent interview!
What's questions would you like us to ask? Maybe we can have another interview with Bill... 😏
Excellent…. Other questions to be asked would be…..How does collection agencies respond to different state status of limitations because it varies! What are collection Agencies required to display even though status like WI are more favorable to collections than customers? If I send a dispute latter asking for specific information, are they required to provide it? Thanks and god bless!!!!
Thank you dor sharing your knowledge and expertize. I owed over $100K and getting your program to ettle my debt
I would like to suggest the Recorded Phone call technique (record debt collector and tell them you are working, studying, child care and can't talk)before cease and desist to build up evidence of harassment!!😅 very powerful technique.
"It's a heck of a racket"... that he was a part of, for many companies for many years on several levels.
What a pal
what a pal indeed
An Agency is harassing me by phone about a debt I have zero knowledge. I have denied the debt. I asked for them to validate via mail and stop calling. They will not give me their address to send a cease and desist. They call 3x a day. Any advise?
Did they even send you a letter with the original creditor name and amount owed ? On that letter should also have the collection agencies address if they don’t provide any information and details just block them until they send you a letter with info and then you can dispute and ask for them to verify the debt . If they are not giving you any info you shouldn’t either since you have no contract with them . They have to do things accordingly and still follow laws. They are not supposed to call you 3xs a day that’s harassment .
I have received nothing but harassing phone calls. They won't provide me with anything. They keep saying they sent me a letter, but that is a lie. They use two different company names but call from the same number twice a day.
@@DulceBesso yes , I wouldn’t worry about it then if they can’t provide simple legal information I wouldn’t talk to them the next time just say this will be my last talk with you record it let them know they are being recorded and say this will be my last attempt to ask for the address as to where I can send you my dispute if needed be . If you can’t provide a simple address or fax where I can submit this too then our conversation ends here because then you are violating FDCPA guidelines and laws at this point and don’t talk to them again . Because seems like they are trying to get you to pay because they probably have no grounds and won’t even be able to provide debt verification/validation . That’s probably why they are giving you the run around . Yes they are violating FDCPA by calling you that many times on the phone say I am letting you know from here on out to cease and desist since it seems I can’t even send you a letter to document I will document it on the recording now and good bye have a nice day .
Make sure when you say cease and desist and not to contact you by phone anymore . If they do you have the right to counter claim a lawsuit against them for violation .
@SC-kv6zr Thank you. I will.
One of the best videos by far…
Well, shucks... Thank you! ☺
Hi, thank you very much for the information. I have already a suit from a Collector, with the help of SoloSuit we sent the answer and the motion to compel arbitration, which is in the credit card agreement. If I didn't understand poorly, because arbitration is in the credit card agreement, does that mean that I can not be sued? I would like to know also, just in case I have to go to Court, if is there where I have to ask the Plaintiff for an Assignment of debt.
Thank you very much!
And I am sorry for my English, it is not my first language 😉
If there is an arbitration clause in your credit card agreement, you can still be sued for the debt. But if you file a motion to compel arbitration, the case may get pushed out of court and into a private process called arbitration.
My account was over 7yrs old and they still trying to collect the agency was closed down
the original credit was given under false pretenses. You were NOT given any "money." The whole credit card industry is scamming us when we SIGN their contract. Please tell us the entire process from start to finish. WHERE does the credit card bank get the money that they claim you have in "credit" balance?
Exactly! They make it up and basically print the money and then charge you insane interest. We are the real value and money. Banks and government make up and print money. It’s a rigged game to keep us all very trapped in a rat race for failure
Please take the background music off as it is hard to concentrate. This man is really interesting and I would like to hear him
Thanks for the feedback. We'll keep that in mind for our other videos.
We're glad you like the interview!
Many people say reply to them, and many people say don't ever reply to them when they send letter asking for the money. I love your approach, Do we reply or not?
Don't ignore debt collectors. If you have been contacted by a collections agency, ask it to verify you debt by sending a Debt Validation Letter. If you've been sued, be sure to file an Answer into the case to prevent a default judgment. SoloSuit can help you do both and more: www.solosuit.com/
How do you prove you never got the required by law letter from a debt collector when they get an acct?
I have a couple debt collectors that bought old accts but I never got anything from them to have the opportunity to get them to verify the debt
Unfortunately you can't. If they didn't have the correct mailing address and received returned mail, you can provide them with a current address and they will be obligated to send you the 30 day notice again. If they did not have return mail, they may still choose to send it, but you may not want them to have your current address. An inability to get mail to you is also an obstacle to get a summons to you. But it's impossible to prove you didn't receive something. That's like trying to prove you aren't dreaming right now. lol. And the agency or law firm that sent the 30 day notice is almost assuredly using a collections system that documents all outgoing mail, including what statement was sent, when and where. Meaning they can prove they sent it.
You could potentially use this as a defense in your case.
@@ArtimosThug You don't have to prove you didn't receive anything. You can't prove a negative. They have to prove you received it. That's why we use certified mail return receipt requested with our communications.
Just received a letter from an attorney claiming Midland was in the process of filing a lawsuit against me. I believe the debt is 6-7 years old now. But how would this attorney know of Midland’s intent? Are they working together?
Midland has an internal legal team, so the lawyer probably works for Midland.
The are SOL don’t pay when brought to court just say it’s past the statue of limitations and look up the law in your state and use that law code. What state are you in?
I was told the agency that wants to collect money doesn't have a license to collect money yet in California.. so now what?
If the agency is trying to collect a debt and isn't licensed to do so, they may be in violation of the Fair Debt Collection Practices Act (FDCPA). Read how to submit a FDCPA complaint and stand up for your rights here: www.solosuit.com/posts/file-fdcpa-complaint-debt-collector
1000$ per violation. Create an invoice for every time they’ve called, mailed you or sent an email. $1,000 for each violation.
Imagine that ,............people being held responsible for paying what they bought. Horrendous with a horrible horrible thing
@@phillatella6470 Imagine the medical debts you owe for a life saving emergency service… what scumbag would try to get out from under that debt. They should get better insurance? They should avoid situations that caused the unforeseen accident, maybe hire a fortune teller?! 😮
Thank you for this interview. Those of us who live in this amazing country that unfortunately been driven to an off the rails capitalistic market driven to make the rich richer and the poor poorer. The financial institutions have been committing all types of fraud and manipulative practices to take money from common people. We should be responsible for our financial health, but we have been ill equipped to battle these goliaths.
I remember I was taken to court for a credit card and the guy representing the company who sued me told me my account was sold for $1.00 😮.
We see this happening often, which is why we hope to help!
Considering; I've used those techniques and to say and it works.
Glad to hear it worked for you!
Do you still work in collections? I got hired in an agency and i suck at it i know I’m getting fired soon. Would appreciate any advice
Will you please provide the name of the book by Bill... Thank you.
Confessions of an Ex Bill Collector
Collector called my employer issued phone and I answered it because I have too for emergency. I was told there was a civil suit and if I wanted to know more I was transferred to a paralegal. That’s when I confirmed my identity to find out why I’m being sued. I was told it’s for a 19 yo cc debt. And if I didn’t pay I’ll be sued. I advise to sue because the sol passed in California. I was told I signed a tolling agreement. Is this a scare tactic or a legitimate claim by the collector?
In 1999 I claimed bankruptcy, the bankruptcy lawyer found one of the creditors was not licensed in my state. After the bankruptcy, he passed that creditor to another lawyer to handle the case to sue them. We sued the creditor and won. The lawyer said I will get two checks, one for $2,000 and another for like $1,500 something like that. When I got the first check ($2,000) he told me not to pay my bankruptcy attorney with that money, I thought that was strange. When I didn't receive the second check I went to the office and found it was cleared out, no signs, no desks, nothing, cleaned out. Like the scene in the movie The Game, just an empty building.
The bankruptcy did go through and that first check for $2,000 cleared and I got the money, I wasn't going to complain.
9:47 Yes we need to know our rights. Good video thank you! 👍🏻 And if they're not legit you can sue them. Perfect
Thanks for watching! 😀
Great video do solo help people in Louisiana
Thank you for the interview. I am not sure I understand when a debt is too old to pursue collection by a collection agency
This is referring the statute of limitations on debt. Creditors and debt collectors must file a lawsuit to collect a debt before the statute of limitations has expired. Each state has a unique statute of limitations. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
Awesome info thx!
Glad we could help!
So is it true that if credit cards go to collection the collection agency has to prove that you agreed to paying them the deb Regarding the debt validation letter. If they have all the information or they're missing information. Is it realistic to think that this could actually be dismissed in court?. And what if there are multiple cards let's say I have seven cards Would the court still rule my favor if the credit collection company didn't have the right information or permission signed by me to agree to paying the money to them? Thank you very much for taking the time to read this. Also I'm 64 years old and I don't want to lose my home that's all I have. My car is old. I do have equity in my home so I'm very worried.... I have called all my credit cards and I've made arrangements but I'm still not sure I'm going to be able to keep up with all the payments. Any help would be very appreciated thank you
If the debt collection agency cannot prove they have the rights to sue you for the debt, and if the debt is in any way invalid, their claims won't stand in court. This is why filing an Answer to a debt collection lawsuit can be very powerful. It shuts down debt collectors who are trying to collect invalid debts, even if they don't know that's what they're doing.
You can fill out an Answer to your debt lawsuit here: www.solosuit.com/debt_answer
@@solosuit thank you 👍🏻
You are highly unlikely to lose your home. The amount of the judgement would have to exceed the value of your house. An abstract lien however, would be probable should they render a judgment against you. As far as the debt validation, or verification, the bar is actually set pretty low as to how much information the collection agency is obligated to provide to you to validate the debt. They certainly are not obligated to provide you a signed copy of the original terms and conditions. Typically a credit card contract is an electronic signature, or you simply agree to the terms and conditions upon activation. Keeping communication open is smart. You may want to explore using your equity to repay your bills. Or simply ride it out. There are ways to protect yourself from the enforcement of a judgment. Best of luck to you!
You're 64 years old you might need the equity in your house do not take equity in your house to get rid of these people I would need some more information on that I need to study what they're sending you who they are there's a lot of things they need that's generally speaking third-party buyers don't have all the papers that they need if you go there and you know you're right or file it in your answer original creditors a little bit harder to fight or win against but do not borrow Equity from your home at 64 years old Social Security Disability alimony and child support are all exempt from garnishment
Sending a debt validation letter is no kind of promise that you're going to pay them in fact what you're saying is you need to send me more information before I even know if I had this debt ever and if they are unable to send you what they need they have to go away and have to take it off your credit report and if they're old again the statute of limitations if they're past it or coming up on it just don't even pay attention to it ignore it you're close to Social Security pretty soon that money will be judgment proof they won't make you sell your primary house they can put a lien on it meaning when it's sold they get their money but that's only if they have a judgement against you we're going to always try to stop the judgement in order to do that you have to send them an answer
What does validation include? I had a fraudulent credit card debt and they sent me the stupid billing statements. There literally was nothing else: no contract, no data showing what was purchased with that card or where purchases made. They sent a 'we validated this debt'? Is that validation?
No pushback some more dispute everything also tell them you want proof of ownership and ALL statements
Sometimes a debt collector will successfully validate the debt. Even if they do this, you don't have to pay off the debt entirely. You have a few options.
Send a cease and desist letter, requesting they stop contacting you except for by lawsuit.
Make a settlement offer to satisfy the debt by paying only a percentage of it.
Do nothing. Wait for the statute of limitations to expire.
Pay the full amount of the debt.
Generally, the first two options are best.
How do i contact you? @@solosuit
Very helpful. Thanks. I wonder how this applies to business debt.
Glad we could help. Business debt is similar, but it also requires legal representation. Businesses cannot appear in court pro see (self-represented).
@@solosuitnot true. If the business is a sole proprietorship or a partnership, they can represent themselves in court
Can you threaten to file bankruptcy to get a collector or law firm to not bother suing you or pursuing collections further? If they know you will just file bankruptcy it would be a waste of time for them
Sounds about right. Check out our live Q&A with a bankruptcy attorney to learn more about bankrupcty and collections: ruclips.net/video/1mwW0TD3VHc/видео.html
Lawyers cannot be debt collectors.
@@RCH369 some debt collection agencies have internal legal teams that handles debt litigation cases.
@@solosuit Somewhere in the consumer law ( FDCPA?) It states that debt collectors cannot be lawyers, or vice versa, I remember reading it a handful of times.
Of course they can they are actual lawyers they actually passed the bar they actually could do something worthy with their life but the debt collection company that does not have a lawyer can I take you to court but they could try to get you to pay the money but if they feel like it they're going to divvy it out to law firms that solely do collection
When asking for the letter from the collector, should we ask the letter to say debt is paid in full ?
I was served a summons yesterday. Is it too late to request a debt validation? If not, do I still need to submit a response to the summons within 30 days while waiting for the validation?
At this point, you can still request a debt validation, but it might not be as useful as it would have been before the lawsuit.
Yes, it is best to respond to a debt lawsuit within the state's deadline to block a default judgment. You draft and file your Answer with the help of SoloSuit: www.solosuit.com/debt_answer
Does solosuit only work out if the state of California? Do you also work in Texas?
We operate in all 50 states, including Texas.
Hello, I have a question about my credit card. I got a credit card with a $300 limit and the minimum I owe is $17.91.
It says: “Minimum Payment Warning: If you make only the minimum payment each period, you will pay more in interest and it will take you longer to pay off your balance. The table is based on your standard minimum payment and does not include any past due and over limit amounts. For example:
If you make no additional charges using this card and each month you pay ... only the minimum payment
You will pay off the balance shown on this statement in about... 1 months
And you will end up paying an estimated total of ... $18.00”
Do I pay $17.91, $18.00, or more than that to avoid interest? And is it best to pay by the statement date or the due date? Or do I split it into paying half by the statement date and the other half by the due date? Also, would it be best to use my credit card every month?
Typically, if you pay the full amount that you owe, you will avoid interest charges.
Their warning is like the Surgeon General's warning on a pack of cigarettes. If you owe $17 and the minimum payment is $10 and you pay $10, then the remaining $7 will start accruing interest that will be due the next payment cycle. You'll pay more than you owe because of the interest.
If you're trying to build credit, use your card for purchases and make sure you pay the full amount every month. Your credit report will show a record of timely payments. Just don't ever buy anything you couldn't buy with your current salary. You've been brainwashed since you were born to be a consumer, and they're counting on you to buy now, pay later. Handle that credit card like it's a poisonous snake, because it is!
Make one full payment before the due date.
Did I understand correctly, if the statute of limitations has expired on a debt, which is 4-6 years in California, the debt collector can still sue and win a judgment? I thought that after the statute of limitations had expired, they could still call and ask you to settle, but there isn't much else they can legally do
They may still sue, but their case will have no legal standing. However, it's up to the defendant in the case to raise the expired statute of limitations as an affirmative defense.
In other words, yes, they can still sue, but if you bring up the statute of limitations, the court will most likely dismiss the case. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
@@solosuit Thank you for the answer. These are two personal loans that I cosigned for before my daughter passed away. I was able to settle on some of her other debts, but the remaining are so old that I don't want to deal with them. I haven't spoken with any of the creditors, but they have become regular guests in my voice mail. The right thing to do would be to settle with them, but right now I am so broke, I couldn't finance a toaster with half down.
@@NonstickMilk If you get sued, just be sure to bring up the statute of limitations as a defense. And be careful about making payments on the accounts or acknowledging that you owe the debt, as this could reset the clock on the statute of limitations.
@@solosuit Thank you again for sharing this information with me. I have spoken to no one who has reached out to me regarding these last couple of debts. Oh, they have called and left repeated voice mails and have even sent letters to my house. I have managed to ignore every last one of them. I understand that I can ask them to quit bothering me, but I won't even do that because I don't want to speak to them whatsoever. I just want to be prepared in case they do decide to push it and take me to court. I will answer the summons without acknowledging that I owe the money, while at the same time pointing out the statute of limitations have come and gone.
Do you offer anything for attorneys collecting debt for banks?
I have 2 cards that's under 1000 dollars because of late charges should i settle an amount and would this help my credit score?
If the debt is valid, debt settlement may be your best option. Be aware that debt settlement will affect your credit score, but it's usually better for your score than no payment at all. Learn more here: www.solosuit.com/posts/improve-credit-score-after-settlement
I've read that settling with a debt collector will not help your credit score. Bear in mind that if you do settle for a smaller amount, you'll owe IRS taxes on the amount forgiven.
A debt consolidation agency is garnishing my check already and today they sent me another letter saying there tring to get another 1000 can they do that
Is it a debt consolidation company that you sign up for to receive help with your outstanding debts?
So how long is the statue limitation on all Debit debt ?
Depending on state. Texas is 4yrs from the date they sue you. Not the date you stop your cc payment
It is state-dependent-we'd recommend doing research on your specific state
@@brianjuan43 so I was litterally at the court house for the trial on Wed. The judge said they're running behind anf if we want to settle wit the plaintiff then we can. If not, we can leave. What will happen is well get a judgement. But they can't take your house, car or hsvr your employer pay them. Thr debt will end up being a write off. I'm surprised he said all that openly to be honest but that's what the judge said.
I received a letter in the mail for my ex-spouse from a "prominent" debt collection company and it said "Due to the age of this debt we will not sue or report to the credit bureaus about this debt..."
If that is printed, why bother sending a letter?
That's a good question, but at this stage, it might be best to ignore their communications because they might be trying to reset the clock on the statute of limitations for debt. Learn more here: www.solosuit.com/posts/statute-limitations-debt-by-state
First he said that if debt is already passed statute of limitation they can still sue you then he said that they can’t do much if the statute of limitation has passed. Can someone guide if they can still sue you if statute of limitation has passed.
They can not sue you if the debt is past the statute of limitations. But they can continue collections efforts. If you admit to owing the debt and agree to repay it, or make a payment however, the statute of limitations resets, and you can potentially be sued again.
This isn't necessarily true.
They can still sue you, but they won't have legal grounds to do so. This means that, if you don't bring up the expired statute of limitations to the judge and jury, they court won't know that it's past the statute. It's your responsibility to bring this up in court.
In short, yes, they can still sue after the statute of limitations is up. However, if you use the expired statute as a defense in your Answer, the case will typically be dismissed.
They can still try to sue you and if you don't know about that and you don't raise it then they can still win if nobody brings up that argument
@@solosuit Not having legal grounds to sue is the equivalent of can’t in this context. It is a blatant FDCPA violation to attempt to obtain a default judgment on an account that is out of stats. Is it within the realm of possibility they might try? Of course. Most debtors do not file an answer at all. But “can’t” in this context, to me would be interpreted as within the law, not the realm of possibility. It would be like saying, “They can’t call you at work every 4-5 minutes”, and responding with, “Sure they can, they just don’t have legal grounds to do so”. But I absolutely get your point, and it was better being said than left unsaid. Knowledge is power. Keep up the good fight! Have a great day!
You already have a case cuz they're not even allowed to threaten you or curse at you or be mean to you or anything like that so if I were you I go to a lawyer that does violations and ask him if he would file anything for you I don't know your details but you might have something
True. Debt collectors cannot harass you as per the Fair Debt Collection Practices Act (FDCPA). Learn more about what debt collectors can't do from our FDCPA Violations List article: www.solosuit.com/posts/fdcpa-violations-list
Yes but I my city had an article.of out of business agency due to harassment and the accounts were over 10yrs old
Hi,
I am filling out a CSU application for college and it is asking me to input my Parents' adjusted gross income (AGI) for 2022 and my Parents' untaxed income and benefits for 2022. I know the AGI can be found on line 11 of the 1040 form on the 2022 Individual Tax Return, but I want to confirm where I can find the amount for the untaxed income and benefits? Is it line 2a where it says “Tax-exempt interest” or is it line 2b where it says “Taxable interest”? Line 2a is blank, but line 2b has an amount. Which one would I put?
Thank you!
We asked ChatGPT for you:
Untaxed income and benefits for the purposes of college applications and financial aid typically include several different types of income that are not taxed, such as:
- Tax-exempt interest income (found on Line 2a of the IRS Form 1040)
- Untaxed portions of pensions (excluding rollovers)
- Untaxed Social Security benefits
- Child support received
- Workers' compensation
- Disability benefits
- Veterans’ non-education benefits
- Housing, food, and other living allowances paid to members of the military, clergy, and others
For your application, you should report the tax-exempt interest from Line 2a of the IRS Form 1040. This amount represents income that is not taxed and therefore would be considered untaxed income. The amount on Line 2b (Taxable interest) is already included in the Adjusted Gross Income (AGI) and is not considered untaxed income.
If you are unsure about any other sources of untaxed income your parents may have received, it might be helpful to review their financial records or consult with them to ensure all relevant sources are accurately reported.
Iam paying my hospital bill to one of them and they refused to give me a monthly statement , cami stop pay them??
Unfortunately, since we are not a law firm, we cannot provide specific legal advice. We'd recommend consulting an attorney for further advice.
I’m 70 and the state has sold my state dividends to Reluant. I do need some help
Contact us at support@solosuit.com to see how we can help!
Look at the trust pilot reviews. This company is notorious for not filing paperwork with the courts.
If you want to settle your debt to fix your credit, but I hear you’re not supposed to pay CAs. Then, how/who do you negotiate with to make absolutely sure your debt it’s totally off your CR and it doesn’t come back to hunt you through another CA??
You can probably talk to the law firm that is representing the collections agency and ask that the debt be removed from your credit report as part of the agreement to pay it off.
"we had their social security numbers and all info on people".....sounds illegal, especially when there is no contract between the person and the 3rd party collections agency.
It's not illegal if the creditor shared this information or the collection agency purchased the charged off debt portfolios.
@solosuit so when the collection agency send the statements of the debt that's bc the original creditor also share/sell all that personal information with them?
Does the statements validate the debts or you send another cease and deceit or ignore completely?
Is it my right to ask the debt collector for a letter saying I paid them the debt to show Equifax
You can always ask for a receipt when making a payment on a debt.
I hate debt. It chains me. But i took it from someone when i needed it so i have to give it back. Otherwise I’m just a petty thief am i not? What about my credit score?
The CC company had robbed you blind but how they do it is information not easily found. You don't owe a damned thing. only people can create credit. Corporations are pieces of paper with no hands.
Im in like 90k debt, I have 2 homes 1 is a rental, Im in the process of getting that ready to sell. If I did bankruptcy they would take that property either way so at least this slightly better option. Ive never missed a payment I would use 0% balance transfers and switch the debts around but its just to the point its not possible and getting rates 22% over 5% the transfer fee is just no possible to keep up. 1 card wants 900 min month. Id like to use profit from my home sale to pay off debt but Im not sure it will be 90k profit it should be good amount but Im trying to find method that I might get them to settle even for 25% less so it be a wash and sale will get me back to 0. Ive been seeing that I need to miss payments to start negotiation. Im in a state where the statute of limitations is 6 years, I sell online so I don't believe wage garnishment would work against me. I've had good credit but at this point I don't need anything credit based if I had to hunker down for 6 years I think I could.
If you would like to get started on a Debt Answer, you can do so here: www.solosuit.com/debt_answer
Hi, where in New Jersey are you located?
We are not located in New Jersey. We are a remote-based company that operates in all 50 states.
Questions not answered...1. If a collector says and sends a letter that they will remove collections from you credit report if payment is made...do they actually do it or are you taking a gamble they will? 2. If they remove it, does your credit report go up?
If they sent a letter stating they will remove the mark from your credit report, usually they will. If they do not live up to their word, you might be able to use this information as a defense in your case moving forward.
Usually, when a negative mark is removed from a credit report, the score increases.
Why don't they delete if they can't collect or sue you. Limation is 5/25
DO NOT answer mail and DO NOT answer calls from numbers you don't recognize, doing either of those constitutes "engagement" with the collector and WILL reset the statuet of limitations, even if you have a collection for 5yrs you might think it will drop off in 2 yrs but if you made a payment of something as small as .50 that alone will also reset the statuet of limitations leaving it wide open to attempt to sue!!!
You're right; if you admit that you owe the debt or make an agreement to pay, you could reset the clock on the statute of limitations.
Great interview! Thank you!
So question, if a debt collector write me saying i owe them.
can i write them back and say no do not have any legally binding signed contract. Please don't contact me no more.
They wrote if i ignore the letter, they'll assume i owe the money.
Do i ignore or write back like i mentioned?
Thanks!
@Luxurylivingdesigns what did you do?
@@Luxurylivingdesigns it's up to you to follow thru or not but you can always threaten them with bankruptcy if they try to sue/garnish your wages
Very helpful..
Glad we could help! Good luck resolving your debts. ☺
I never answer my phone if I don't know who is calling. I also block calls, emails, and texts. These jackasses will never bother me.
That seems like a good way to avoid collections calls.
What if they write you? Should you write back?
@@Luxurylivingdesigns It depends on your ultimate goal. If you want to settle, you can write back to negotiate. If you just want to fight the case in court, you might want to wait until your court date.
It’s an easier to concentrate on what is being said without background music.
Thanks for the feedback. We'll keep that in mind for future videos!
I don't know your statement you're in so you have to check with your state laws but I'm in Jersey and they have to leave you $1,000 in your bank account and if you don't tell them your bank account they have to subpoena every individual bank account and see if you have an account there and then they freeze the money and you have 10 days to object to it at a court level you have to go to a hearing bring your bills tell them you need your money blah blah blah you'll probably get your money back from that if you don't have a lot they will go after wages to but again there are rules on that you have to make so much and if you don't they can't do what they say they're going to or if they do it's illegal but if you don't know it and don't go to the court with an objection again if they were taking 25% of my pay at one time and it was the first I heard of it because I never got a notice to appear or I would have so they got more than they were actually legally able based on my salary you have to object to that too and you only have a short period of time like 10 days I used my debit card to try to get pizza and it wouldn't go so I looked it up and I called the bank the bank has to tell you who's a subpoena is from so don't let them say they don't know usually a court officer or a sheriff and then you call them they have to tell you who it is and then you have to file your objection with the court again and bring your bills and your pay stub and the judge could say it's a hardship to you and he will lower it to something very low at but never ever give in to being scared over the phone call the court ask them if they have a judgement against you if they got a default judgement against you because they sent it to the wrong address and you can prove that you did not live at the address that they sent it to you're golden
That's all great information. To learn more about how to stop wage garnishment in any state, check out this article: www.solosuit.com/posts/can-i-stop-wage-garnishment#:~:text=File%20a%20Claim%20of%20Exemption,must%20do%20so%20almost%20immediately.
I dont pay. Ive defaulted on so many loans and debts and never had anything happen. Sometimes we hit hard times and these banks always get bailed out...how come government doesnt bail me out? Screw debt collectors
Most people feel morally obligated to pay back their debts, but life happens, and many creditors and banks will work with people who are experiencing hardship to find a resolution. But not always, so it's a tricky balance to find between debtors and creditors.
That's why debt settlement can be a good option for those who can't afford to pay off the debt in full but want to resolve things in good faith.
Yeah he’s 100% right
Agreed!
Lvnv funding llc & midland credit management has swarmed so many people by tryna collect a debt but they fail to cooperate with issuing documents requested from person they are contacting. Jus smh
Midland tried me but I sent them a debt validation request and it was removed.
@@mjohnson1741 care to share the letter u sent them to get it removed? Thx
Midland Credit Management is one of the most litigious debt collectors in the USA. They sue a lot, but they are also usually willing to work with consumers to settle debts for less.
@@solosuit yes I've heard.... Y should 1 pay $$ to a company you never had no dealings with? If the original creditor sold debt to collections for a penny on a dollar then that's what they should get back in return from the consumer. If cc company insurance paid debt then there is no debt, but debt collectors make up paperwork as tho they were original creditors when they was not. Midland & lvnv has caused a lot of problems for alot of people and it's not fair ijs.
You're right. It doesn't really seem fair, but unfortunately it's the law, and LVNV and Midland may have the rights to collect the full amount, regardless of how much they paid for it. This is why settlement might be the best option. And SoloSuit can help you start the debt settlement conversation: www.solosuit.com/solosettle @@classymakr
Um how can they pull your credit scores without your permission 😂 bizarre in the US.
Debt collectors have the right to report delinquent debt to the credit bureaus. It's a way to hold consumers accountable and incentivize them to make their payments on time.
Uh.....is that Henry Hill..?!😅
Guys is so easy to make money taking debt collectors to court 👍 you can actually make a good living just taking them to court they will buckle every time ..
Well can you drive a lorry to collect the debt ????
Never ever pay a debt collector. Why would you pay a collector if you do not pay the original debtor?
A few years ago a debt collector tried to sue me and with the help of Solo Suite I won the case. The fact of the matter is the collection agency can not prove that they own the debt. Solo Suite answered the complaint and sent it to the court and to me..
If a debt collector has purchased your debt, you might have to pay them if you want to settle the debt. So, there are certain instances in which it makes sense to pay a collector.
We're glad to hear you won your case. Congrats! We'd like to hear more about your experience. Please send us an email at support@solosuit.com
@@solosuit The debt collector can not prove that they own the debt. It is like I bought a burger from McDonald's and did not pay And then Burger King tried to collect. All you have to do is challenge them with the right docs.
Your individual State Court Superior Court dictates what they need to prove that the owner and it isn't much at least not in my state so yes if they really purchased it even for pennies on the dollars they can hire a debt collecting lawyer to take you to court
I think if you only have 2 months to go before it's past the statue of limitations don't talk to them at all it's not worth it
That agency would be sending me a check for 5k per call
Nice!
I litterally am in a prison
If debt collectors try and sue u , just ask for arbitration.. they’ll have to pay $3500 for the fees and won’t , proceed
Just be sure to read your arbitration clause first. In some cases, you may be responsible for arbitration fees. Learn more here: www.solosuit.com/posts/how-arbitration-works
And by the way if you hadn't paid them in a long time find out the statue of limitations where you live and if it's close to being over do not pay them do not speak to them do not try to be nice and say I'll give you a dollar because that starts the clock all over again if 4 years or 6 years pass they can't get the money from you anymore they could try but you need to know that for your own information the statue of limitations and if it's past that that is your defense and it is an absolute one
You're right! You should always check the statute of limitations on your debt before taking action or responding to a debt collector. You can check the statute of limitations on your debt here: www.solosuit.com/posts/statute-limitations-debt-by-state
Over 1 hour no return
I sent debt collector all my bills and they sent them back so they don't collect bills
Except they want u to pay about 20% of the debt to solosuit
To enroll in our SoloSettle Assist program, you only have to pay 10% of the debt amount. This will get you a lawyer (from a partnering law firm) who will represent you in the lawsuit, file necessary legal documents into the case, and negotiate a settlement on your behalf.
So, if you owe $3,000 in credit card debt, you only have to pay $300 to enroll and get an attorney. That's $300 for an attorney. It's a steal.
If the law firm is successful in settling the debt, you would pay a remaining 9% to SoloSuit.
Again, this is an incredible offer because it takes away the burden of representing yourself and negotiating with collectors. Well worth the money, and SoloSuit has helped people save THOUSANDS including after paying for the service.
*Note that prices are subject to change.*
People will do anything apart from paying thier debt seriously 😂
Some people just aren't in a position to pay. If that's the case, debt settlement can be a good alternative: www.solosuit.com/posts/settle-debt-in-3-steps
Nasty business , I don't know how people can do this job!!!
Many debt collection agencies prioritize compliance to federal consumer protection laws, but not all.
Thanks for interrupting him at 19 minutes and two seconds right before he was just about to make his point. The problem with this channel as well as many other channels covering this particular topic is that you’re all scared of telling people the truth for probably two reasons. Reason number one: Junk Deb buyers are really bad people, and they will stop at nothing to collect the debt, which means causing you some harm. The number two reason: is that the information can save people a lot of money but could also make you a lot of money, so I understand you wanting to earn, a little money for making these videos. However, you should’ve let that guy make his point because you shouldn’t pay them anything.
If you actually owe the debt, it's best to pay it off or settle. That's just facts. However, in many debt collection cases, the debt is invalid, which we covered extensively in this video. In that case, it's best to fight the lawsuit or ask collectors to validate the debt before the matter escalates to legal action.
@@solosuit I appreciate what your team does overall and I'm not arguing that but to my point, I felt like he was interrupted out of fear of what he might have said in regards to not paying the debt. I strongly believe after that account has been charged off, whether or not you actually "owe the debt" no longer matters. I will say this: The debt collection agencies are unbelievable bullies. To anyone who may read this, battling them isn't for the faint of heart. They will stop at almost nothing to collect from you and have no qualms with violating your rights in the process. As long as you stand your ground, you can beat them but it does require doing a great deal of research, including visiting your website.
Bill it sounds like to me you can’t keep a job
Hey, now. It's pretty common for debt collectors to switch companies every once in a while.
Exactly! Not uncommon.@theinstituteforuniversaltr3629
Why does a person have to "keep" a job? If you find a better job there's no job police or laws that make you stay where you are. A person is free to move around and explore. That's not the same as not being able to keep a job. Companies are no longer loyal to employees so employees don't have to be loyal to companies.
Debt collection agents sit in a cubicle and do.this crap Job because They could not get a better job. The average time on thr job for average debt collectors is 80days . They cant stand the job any longer
Here is an article that advises on stopping debt collectors: www.solosuit.com/posts/tips-from-former-debt-collector
Cease and desist was to buy a dog
Thier is only my self being spent how is this fair should i change my gender like he did last time life was leeping lemon
If you owe it!
PAY IT!!!!!!!
True! But if you owe it and life circumstances have made it hard to pay, try settling! ☺
I think most people have no problem paying their actual debts. The problem is paying obscene compound-interest on that debt. It's criminal usury and should never be allowed to happen.
@@lynb1022 exorbitant interest rates are the worst, and all consumers should be careful when signing up for any service that involves interest.
Get to the point
We hope the video was helpful! If you have further questions, feel free to contact support@solosuit.com
Will you please provide the name of the book by Bill... Thank you.
www.amazon.com/Confessions-Ex-Bill-Collector-Collectors/dp/1466371315
I hate debt. It chains me. But i took it from someone when i needed it so i have to give it back. Otherwise I’m just a petty thief am i not? What about my credit score?