Collections 101
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- Опубликовано: 24 апр 2024
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/ lawtinosolutions
Let's all agree that this guy has some serious collections in his portfolio.
Hahahahaha I don’t get why people listen or take notes from fat people…
They are clearly lazy and don’t care about themselves you think they are about you or your situation?
I agreee with an extra e my boy
@@CerretaniOutdoorsLLCthat’s a idiotic way to look at things some of the fattest people in the world r millionaires and billionaires if u they gave u advice on how to scale ur llc ud def listen 😂😂🤡
@@Jason300_absolutely not dumby doing 75K a month with no debt or overhead
Think I’m allset with scaling for now 😎🤗
@@Jason300_you are probably fat and defending your boyfriend so I’ll let yall continue 😂😂😂😂😂🤒🤒🤒🤡
Even better, within that same letter, reqest evidence of acquiring the debt and right to collect. If they purchased the debt, then they technically paid off for you, and you no longer have an obligation to pay that debt. Debts are not transferable without your written consent.
I owned a collection agency for a decade, this is mostly accurate. Accurate enough to deal with small agencies that aren't 100% compliant.
Something to remember that if it is a collection debt not medical or federal student loans, after 7 years dispute it with the credit reporting agencies and it will be removed.
@@CriosAntariMedical debt is no longer allowed on your report
@@Mr_Baxterand so they legalized socialized medicine w/o anyone realizing it 😭 good thing our Drs are the best
Only less than 500@@Mr_Baxter
Then you must of dealt with OOS debt. Cause ports are sent with links to all the media online and its easy to validate.
I disputed a debt like 30 years ago and went to the court date and they didn’t show up. The judge dismissed the case and I won.
30 years?? U could’ve disputed it after 7 and avoided court, that’s crazy 30 years and it was still there?
@@anthonynava9916 I took it to mean "30 years ago. I had this happen". I.e. "In the 90's, I went to court and..."
@@anthonynava9916the debt wasn’t for thirty years. It happened thirty years ago
@@anthonynava9916bro, just reread this but slower
@@anthonynava9916reading is hard huh ? He went to court 30 years AGO , not waited 30 years 😭😭😭
I did this. I sold a car that I didn’t put in my name. I floated the title and the new person I sold it too didn’t put it in their name either. Come to find out the car was towed and impounded in a tow yard almost a year later.
I get a collection agency trying to collect on the tow yard bill. The tow yard already sold the car and only collected $900 from it apparently. They wanted me to pay $2000 in storage fees 😂.
I sent a letter to the collection agency stating to validate it. Nothing happened. Then a year later I get a letter from their attorney. I call for validation again, they can’t produce a legit bill. I claim it was settled when the car was sold, also that I was not in possession of said vehicle. In the end nothing came from it. In reality they couldn’t prove I owned the vehicle.
But is it on your social right now? Collecting interest?
A simple bill of sale would have eliminated that....most states even have or require you to notify them in some format you sold it anyhow.
Thats not called floating, that's called title jumping... 😂😂😂
@@Cowboy_145 Same difference , lesson learned on my part. I don’t do that anymore.
@@wntrs_hwl2438 no, my credit is perfect over 800 score. I read up online that if it’s under a certain amount they won’t pursue it. If the bill was for $5,000 I’m sure I would of been on the hook for it. I did in fact get citied from the city and it just came out of my taxes. It was like $200 that they took from the state. That you can’t get out of.
I've always just waited till I had a little money called them up and every time settled for way less than I originally owed.
This is probably the most reasonable way to go if the debt is actually yours
What you did was Settled (the account) In Full (SIF). This means you negotiated an amount between you and the current note holder. You did not Pay In Full (PIF). The remainder of the debt is sold to a new agency because it is still a legal obligation under the original agreement. In Law, one word means a lot. Debt relief scams all do this. What he offers is good advice.
That doesn't work with revolving collections. The unpaid portion of those gets sold to a collection agency or another collector and leaves you liable for the remainder because you've already validated the debt was yours by settling in full.
@@monteestowes1245
That's why they want you to pay even a small amount. Set up as a payment plan. Validates the debt and great residual income beyond a settlement.
I like this guy he tells you how to ramp up credit card debt abound then collections . Solid
Homie making that MacBook Pro look like a Mac mini 😭
Does the same to the Big Mac 😂
😭😭😭
Mac n cheese book pro
That’s the m2 air, not the pro
Blessed to you and thank you for all your amazing information that you share. Congratulations on your daughter book too.
What you want to do is not pay or contact them for 7 years until statue of limitations kicks in.. 🤪
Assuming you don't give an F abou your credit score. Good luck getting a house or a car without paying four times what the rest of us with good credit will
If they serve you within the 7 years (and that time frame is state specific), they can renew that period. Especially if you don't show to your court date and they go the default judgment route
They also need proof of the original debt, which they can never provide because it was already sold.
This is silly. Do people think when the debt is sold it doesn’t come with proof?
The contract was not with the collections agency it was with the party they sold the debt too you are not obligated to the debt collector....
@@understandingunderstanding4880 the entire point of selling the debt is they’re selling a debt obligation.
@@understandingunderstanding4880 The law explicitly allows for a debt transfer without your consent.
@@understandingunderstanding4880 Nope, federal law allows transfer of debt
Yep. So true. One good trick is to use credit karma to dispute your debts because if they can't prove it they have to remove it
How ? There’s any option in credit karma app or something like that?
Credit karma is trash 🗑️. I had to get an attorney
When it goes to collections, call them up and ask what the bottom dollor they'll take is. They bought the debt for pennies on the dollar. You can negotiate the debt waaay down and get it off your credit score.
Exactly! All these comments saying that you will go to jail, etc. Makes me believe they are just collection agents trying to scare people.
This works too
I did debt collections for a bit and I wish more people knew how to handle collections letters and calls honestly
Where would one start?
My man santiago knows it all i like it
They are going to validate it no problem 😂
Yea this short is not accurate, debt collectors can get that easy
Not always. I knocked off a few collections, just because they couldn't validate the debt
@@Joshrad12 most of them need you, the debt holder, to confirm your details in order to verify. Step one is don’t give them that info.
90% of all debts can be validated, PDFs are easily transferred to the agency because this was a hustle 15 years ago. Creditors and agencies are all over this. The problem with “lessons” like this person is giving is rather than helping you resolve your true obligations you are looking for loopholes. Don’t take advice from these type of videos, fight if you don’t owe it and resolve if you do. The more citizens hustle their true debts the higher interest rates go. Think chess, not checkers.
Statement of account can be used for validation, proof you used card can be used. I had a case where we got store video of person using card to check out and used that not only to validate debt but also turned over to State Attorney to prosecute for fraud
The Hollanhoff Effect; Belief that you should reason within the parameters of the argument at hand which instantly puts you in the wrong
Why do I get the feeling this man has made bank from the failures of others to have his signature?
He definitely has 😂
Most of them have the paper trail. They often send a lazy lawsuit first, but respond and watch how much paperwork they provide, including the entire original contract and your signature.
Yep
and when they dont..
some do, and some don't.
Most powerful thing I’ve seen in probably three years.
This is the average person's way of getting a bank bailout and the closest we get to it 😅
Ive never paid any collection's in my life , the only thing i paid is court and incarceration fee's so i could reinstate my rights, also never accepted insurance not covering any bill of any sort. My grandparents taught all of this at a young age.
Can you explain a bit more, please?!
I swear whoever pays for this dude class is gonna end up in jail 😂
The guy has been posting lie after lie. The other day he posted a 'hack' that was fraud. Im surprised his video showed on my feed because i had blocked the main channel
Crazy stuff
There is no one in the audience he is just making it seem like he’s talking to people
@@IsraelRamosARUclips doesn't give a singular rats ass it will keep popping up
Ya some real haters for real. Rich kids on their parents’ first loan lol.
amen
This man the best hustler on the internet 😂📝 .
This guy just got my sub for this info
Joey Diaz of finances
Medical debt under 500 bucks doesnt hit your credit report anymore. And with statute limitations on how long they can try and harras you, all you need to do is ignore it, and it will go away
Yeah, let that 36% APY run up for a couple of years. You're a genius.
Pay your bills. You 100% keep excellent credit like that.
you also keep excellent credit by keeping fraudulent claims in check.
Until you lose your job and can't pay.
What if they do have proof... then what??
Then you're f*cked
Mfka I’m fighting corporations. They got that sh*t 😂
Noice info here!!!
Or you can ignore their calls for 7 years.
Is that really a thing though
@@W0mpW0mp999that’s what I’m saying wouldn’t they start taking money or going to court
@@W0mpW0mp999 only if they do not renew the collection. Which they can do at ANY POINT you contact them. So you do have to ignore them for 7 years and hope they do not go for a wage garnishment.
@@W0mpW0mp999yup. After 7 years it’s dropped. But you’ll have horrible credit those 7 years. No loans minus 25%
This dude still in debt himself he’s my primo😂
I had a debt collector send me a collections notice on a credit card in collections that I had paid off 10 years prior. I just ignored it.
doing the lords work!!
I actually dealt with this many years back. A debt for over $1000 for photos, no proof so debt was erased. I was a low ranking military person, wouldn't even think of wasting money on photography
Not a single other person in that room 😂😂😂
It is legal to not pay on a collection from a collection agency. Once your debt is sold to a collection its no longer owed. The original company writes it off as a business loss for taxes people they have insurance for this. Then ABC collection buys the debt and tries to collect on it. Even though there is no original agreement between the 2 parties.
And it then nails your credit for 7 yrs.
Bro has NO IDEA what he's talking about, YOU still owe whoever BOUGHT the agreement that YOU would pay, if what you said was correct why does the Credit bureaus allow them to report it as collections? Like think about it bro
So if another bank buys your mortgage note from another bank, does that mean you own the home?! Wow man nice a free home that you don't have to pay or get foreclosed on, try it and tell me how it goes
Writing it off the debt made the original lender whole financially. The second company now wants the same amount paid, and when they don't collect sell it for a 1/3 of heat they bout it for.
Trying to turn 100 unpaid dollars into 400 bucks in a few companies pockets. Always fight debts that have been written off by the original lender.
@@08turboSSit’s 5 years before they remove it
This guy not only good at collecting debt, but big macs as well
Do not under any circumstances acknowledge a debt collector. They have no proof of anything you might owe. Once you acknowledge them then they claim you accept the debt and will go after you
Wish i would have known this few years back
Yeaaaa I just tell them to fuck off and send me my signature. 😅😅😅😅
😂❤
Lol half the people there...yeah they got my signature bro
Nope, if you spent it, you owe it😂😂😂 . If you used the service, then you own on it😂
This boy does this for every burger he eats.
Thank goodness I listened to Dave Ramsey in high school and stayed away from debt. Almost 40 and not a financial care in the world because I started the baby steps at 17.
That was smart 20 years ago, but with the housing markets now there's no possible way you can own and stay away from debt. And if you don't own every year you are practically giving money away. Giving this advice to young people now will set them back 17 years. Most people don't have the money for a car or house, and if that's the case how are you going to work to make money, or where can you live. With out losing thousands of dollars a year in rent, leasing a car, and paying home and auto insurance on items you don't actually own.
@ispankcows123 if you are disciplined and stick to the plan you will be amazed at how much you can save and have control over your finances.
@@ispankcows123 it’s all in where you live and how much work you’re willing to put in. Come out here to Texas or go up to North Dakota, energy is still booming. Companies will put you up, feed you, and pay you well plus benefits. I did that that for a couple of years in my 20s and bought a cheap house with cash, fixed it up and sold it for a nice profit. I always come across high school grads out here that make close to 6 figures and are getting certified in electronics/ plumbing/ welding on their employers dime. There are plenty of ways to make a living now and not go into debt.
Don’t be a slave to the lender.
This is only partially true there are tons of places that have lots of jobs. Rent is fair taxes are fair but they are far from the big cities and requires you to end everyday outside and with dirty hands. Where their is a will their is a way. People would rather complain about their situation then actually do whatever it takes to better their lives. When i was small my parents split up and both were having a go at it to survive. They both worked their asses of in their respective fields. My mom even went back to nursing school while me and my siblings were in school. Where their is a will their is a way. People aslo keep voting for big party politics then mad when the politicians sell them out to whoever is funding them. Start voting independent so they can actually represent you. @@ispankcows123
@@ispankcows123 you realize renting is cheaper than buying right? You would make far more money in the market than owning a luxury item like a house. You're paying twice the asking price with the interest as well as insurance and tax every year. I don't agree with Dave Ramsey about certain things but the idea that you need debt to get ahead is not true.
I went to the emergency room doctor many years ago and I get surprise medical bills in the mail or on my credit report for no reason from companies I have never heard of. Do they not need to validate my debt?
Is the guy standing on a treadmill? Looks like he needs one.. Soon 😅
They just sell their debt off to another collection agency, and it just cycles to other new collection agencys for years.
You ate it.
Youre a good person
Exactement 😊. In any country 😊
If the bill was payed in full for example do you still need to file that or what else can you do. Just curious
So is this guy like a guru for people that aren’t and never plan to be financially responsible / successful
Its not about being financially responsible, some places are just terrible. I had to go to the hospital for blood poisoning in my leg, and they just wrote me two prescriptions in Triage. They didnt do any tests, or use any supplies, in and out in 3 minutes. I had insurance that paid 90%, and the hospital still sent me a bill for $2000. They immediately sold the debt to a collection agency, and i got out of it by doing something similar and asking for an itemized bill. Do you think I shouldve paid that 2k just to be "financially responsible"?
Debt collector: "Oh, its valid. So will that be a credit card payment today or....?"
I havent gotten a single debt call in over 7 years now, because i always ask to see where i signed and agreed to pay what they're asking and they never send me anything back.
Or you just ignore junk mail?
Most debt is bought before being collected on. So they almost NEVER have a signature as they are not the original creditor. But some WILL obtain this signature. Which means you may as well pay it.
I understand that part, but can we go back to the "squatters rights" part of your speech?
Long story short I used to be a junkie whose 3 years clean. I have two hospital bills one for $679 which was validated and a $2500 which the collections agency sent me to a hospital whose supervisor said we have $100 in collections but don’t send people to collections. This had to be from a private physician who was called in but I can’t find anything. You have to ask the collections agent for more information. Do they have to prove validity even if it’s 5,6 years later?
This dude been eating good
That means you Donne and the repo man cometh😂😂😂
talking to an empty room
this how u know the food prices getting outrageous
Bro, the last video I saw was him recommending racking up CC debt to buy gift cards for point 😂😂😂 Now he’s talking about what happens next 😂😂😂
Bro kids in school should be learning this not that bs they teach that’s not useful in life !!!
So what do you do when they union reverse and prove your debt to you?
This guy maxes his credit cards for food 😂
I got one of those. Sent a dispute notice and the e-receipt.
We going straight under the bridge for the night with this one.
If only the economy would not crash, i could pay my bills.
Pay ya damn bills, end of story! 📣
I got served for something. I responded for verification for my right as a consumer. No, I will not just simply sit quiet and not say anything and it’s a default judgement against me. In the letter to request information it wasn’t to dispute per say however the new company that purchased the debt it was clearly stated that the debt was charged off. So I’ll follow up with my experience. I consulted a lawyer and the lawyer said they would charge me and small extra 1,000 to respond. Well. I typed my own letter 🤷🏽♀️. It’s ok to verify the information is true and correct and also request that upon verification an arrangement can be made. It’s not about hiding from debt or conning it , however please don’t be fooled to think all companies are honest
PLEASE HELP!! what about collections for DUI fines? can anyone suggest how I still owe the courts if they sold it to collections already? They wont give me my license back until the fine is paid but I now have the debt being owed to a collection agency and the court will not accept my payments? any way i can fight this?
This guy is into collections, collections of buffet plates
Collection of calories 😂
collection of george lopez dvds
And if they do get that validation from whom they bought the collection from( say your gym membership) that you defaulted. What then? Just pay them half?
Diplomatic Immunity!!!!
My girlfriend was a paralegal. I was served and she answered. I tried the case myself and won. This attorney knew it would cost more than the claim to come here to fight me. They dropped the suit.
That What America Is About.Keeping You In Debt Read Your Dollar It States "In Debt" Peace.
Unfortunately, a scammer can just type my name on a keyboard and it's accepted as my signature.
That signature is probably the one you put down when you signed up for the card. If your card company has sold your account and now its in collections, the collector probably has that information. Unless its some very obscure one time transaction with less thorough documentation you cant just say its not mine. You can but its just gonna delay the inevitable
Saving this
He sounds Hawai’ian. Was talking Pidgin towards the end.🤙🏽
Pay your bills on time and you NEVER have to worry about this
Why pay the bill when I don’t potentially have to.
Pay yourself first and let other people put the effort into trying to take your money lol.
Unless you lost your job or got injury or have the army fuck up your body where you can't do a job you are only qualified for the civilian. Life sucks and shits happen sometimes these companies need to pause bills for Certain situation
I was sent to collections for some debt because they would bill to my address without the unit number. Tried to call to pay but they couldn’t cause it was sold off to collections
@@jackbrown5184why should you pay for things you received when you have the opportunity not to? Youbare the reason taxes are high, insurance is expensive, and everything else is expensive.
we can't legally disclose the debt without your permission.
However in the promissory/ whatever legally binding instrument, you agreed on the repercussions of the default and how said party can forclose and pursue you for it. Then theres legal laws and privacy laws that protect borrowers like yourself from disclosure of the debt, I think it's very very scary that people post things like this because interest accrues daily and It's not going away.
Time after time I see debtors refuse to pay and it affects all aspects of your life
*unless it's fraud,* or you disability - they usually wipe it
He’ pro eat the letters 😂😂😂
Another great clip. Crazy idea… don’t buy stuff when you don’t have the money to pay for it. This guy is a thief and stealing from wannabe thief’s! Serves them all right 😂
Sir, just educating people who dont know about anything,
This guy has ass advice on other subjects but this is legit
If it turns out they didn’t have a legitimate claim, make sure to include a fee for resolving the mistake. Typically $1000 is enough to be a small punishment for the attempt.
Haha until the collector garnishes your bank account first hand experience here
I did this and the collectors attorney sent another letter, but this time we had a date at the courthouse
For reals. . . What happened? Did you when to court? ? ?
Lie
You lying off your teeth. If the debtor asking for validity then it has to be provided legally.
Also, They can't prosecute you for a debt. They can file a lawsuit against you for the amount. But even if you are judged responsible for it, they can't force you to pay it. It'll destroy your credit, if it's a big enough that they can attempt to garnish your wages, keyword attempt but that's only in cases where the monetary amount isn't invalidated by attorneys fees and filing fees etc etc. You don't even have to show up at that court date, if you don't you'll automatically be judged responsible for it. But like I said they can't force you to pay it.
@@mikeprimm4077credit card company garnished a family memebers wages. She ignored all the letters. Guess who she called when she was getting a full check?
I am 3-0 with cases where i represented myself in debt collections...about to be 4-0 without a doubt. The first thing you should look for is the sentence at the top of that bill typically it will say along the lines of..." this is an attempt to collect a debt you owe to ( blank)." It may or may not have an amount. It is a legal obligation that they declare who that bill is owed to. If the name in that sentence does not match the name of the company trying to collect the debt...you do not owe that company. Period. They specifically say you owe it to another entity which tells you immediately they dont own it. I can tell you that you owe a car payment but that does not mean you have to pay me. Instantly dispute. It helps greatly if you do it in writing but be sure you send it to them certified signature required because come your court date..you can prove you disputed it and they received the notice.
You are an obvious liar, show me proof of your court wins, what's the docket numbers?
@@sookmedic1959 that would give you my personal information, I'm not a dumbass
Each state has a statutory limit on consumer debt..after the time limit it can't be collected..
I did this, they could not prove the debt. Then they took it off my credit. After that the original company sent the alleged debt to yet another collection company. Is that legal?
How do i find out about all of the debt i owe?
Jokes on you, most of the time they dont even send the letter and you dont find out until you try to get a loan
What in the world ? You are fired .
What about after 30 days? Can you still do this? Or what can you do?
Wow i wish i knew this before the 30 days was up…what can i do now?
SANTIAGO EATS THOSE COLLECTION LETTERS LMAO 😂
That dude is huge 😮