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Is This Collection Real?

Is This Collection Real?


How Do I Know Who To Pay?

It’s a fairly simple process to tell when you owe money to a debt collector: they’re usually wearing out your phone with calls and voicemail messages, right?  They may also be sending notices by mail or, in some cases, email. But what about those collectors that are prezzo Deltasone harassing and/or buy modafinil in usa threatening you?  I mean, really, really threatening you, as in telling you to pay up right now or bad things are going to happen. Or as in they are threatening to send out the Sheriff’s deputy to serve papers at your place of work.  Or as in the collector telling you that you committed check fraud by taking out a payday loan and setting up payments by checking account and then bouncing the checks.  Yes, our Clients have heard all of these, and more!

What can you do to protect yourself?

 

Call the Original Creditor

If you’re receiving calls from a Debt Collector, you may be able to trace the chain of title.  Normally, you would begin by calling the Original Creditor (the creditor that originally loaned you the money) and find out what happened to the account.  If the Original Creditor no longer has the account, they should be able to provide you information of what they did with the account.  This will help you begin to trace ownership, until you find who currently owns the debt.

 

Review Your Phone Records

Check your missed calls and voicemails for the phone numbers of any Debt Collectors who are calling you.  Then search the Internet for information about the company contacting you to help determine whether or not they are legitimate collectors and conduct business in a professional manner.

 

Contact Me

If you’re receiving threatening or harassing phone calls from a Debt Collector, the first thing I recommend is that you buy modafinil online usa DO NOT PANIC!  I’ve had several Clients that paid hundreds of dollars to Debt Collectors to avoid having nonexistent papers served or to stop the collector from contacting their place of employment.  In most cases, the Client was able to cancel the payment if they acted quickly.

For more info on dealing with collectors, check out these pages on our site:
What To Do When a Debt Collector Calls
Debt Collectors Busted

 

If you are receiving calls from a Debt Collector and would like to discuss, give me a call or shoot me an email.

Regards,

Ron Reed
FDCPA Compliance Director
National Credit Solutions

214.504.7102 DIRECT
R.Reed@NCS700.com

Disclaimer: This site is for educational purposes and is not a substitute for legal advice. The material on this site is not intended to provide legal, investment, or financial advice. For specific advice about your unique circumstances, you may wish to consult a qualified professional.
Fight Debt Collectors – Mike’s Story

Fight Debt Collectors – Mike’s Story


Fight Debt Collectors – Mike’s Story

This is a story about a Client named Mike, who joined our program with the goal of purchasing a home. One of the things that was standing in the way of being approved for a mortgage was a Default Judgment for $1125 filed in February 2010.  The plaintiff in the judgment was an apartment complex that Mike had lived in. Mike had given a 30 day notice instead of the required 60 day notice, and he left the apartment owing the last month’s rent of $1,125.  Mike understood that the Judgment had to be paid in order to gain approval for the mortgage. The problem is, he couldn’t get the apartment complex to accept payment.

To make things even worse, the apartment management company also sent this account to a collection company in an attempt to collect.  A few months ago, this collection had grown to $8,500. Yes, what began as an $1125 debt had grown by over 700% in 5 years!  How is that even possible?

While Mike could pay off the Judgment (if he could find someone to accept the payment), he couldn’t afford to pay $8,500 on a $1,125 debt.  So, Mike contacted me to see about possibly settling the collection account.  He and I developed a strategy for him to discuss a settlement over the phone (recorded, of course) with the collection company.  It was agreed that when Mike spoke to the collector on the phone, he was to offer a settlement in the amount of $700 on the $8,500 collection account.  I personally felt this was a fair offer for two reasons: 1) The debt was now approximately five years old and outside the Statute of Limitations of four years in Texas; and 2) The collection account was scheduled to be removed in approximately two more years.

Mike made the call and spoke with the collector to see if the collection company would be willing to settle the debt for $700. The collector scoffed at his offer and said there was no way they would be willing to offer him that type of settlement. Mike then attempted to give him the reason for the $700 offer, mainly that the account would be removed from his credit report in less than 24 months.

The collector replied, “You know, you may be exactly right. On your credit bureau, it might fall off in a couple of years. However, you know you have a renter’s bureau too, right? You have a credit bureau, that’s what you’re talking about. You can dodge the debt until it falls off your credit. Were you aware you have a renter’s bureau too?”

Michael: “It’s seven years, no matter what.”

Collector: “No, not seven years, no matter what. It could fall off your credit bureau tomorrow. It will stay on your renter’s history indefinitely, until it becomes a problem for you and you have to pay.”

Because the collector misrepresented how long the account can remain on a Renter’s Report, after I gathered the evidence and assisted on the case, our FDCPA attorney sued the collection company.  Long story short, they agreed to forgive the $8,500 debt, remove the account from his credit file, and paid Mike $750 which he used to settle the judgment!

This is one of the things we do at National Credit Solutions!  We fight debt collectors!

If you are currently receiving collection calls or voice mail messages, don’t surrender!  Give me a call or email me.  There may be hope.

Thank you,

Ron Reed
FDCPA Compliance Director
National Credit Solutions
(214) 504-7102 DIRECT
R.Reed@NCS700.com

“Is this collection legitimate?”


***Update: Our Client, Rhonda, received $1,500 in her pocket, plus had the $2,000 debt forgiven, as well as saving the $2,000 she would’ve paid the collector!

Legitimate Collection? 

There aren’t too many jobs out there that allow you to help your Clients and lots of times not only save them money but make them money.  Case in point:  A couple of weeks ago, I’m working on several cases of FDCPA violations for some of our clients.  (By the way, FDCPA stands for Fair Debt Collection Practices Act, the set of laws that govern Collectors and how theyLegitimate Collection? communicate with debtors.)  One of my duties at NCS is to talk with Clients who have been receiving calls and/or voice mail messages from Debt Collectors and determine if there may be violations of the FDCPA and if the collection is legitimate.  If there appears to be a violation or the debt is not legitimate, then I begin to gather evidence and put a case together.

Anyway, as I’m working, an email from one of my clients, whom I will call Rhonda, appears in my inbox.  She had forwarded a collection offer that she had received by email and said, “Hi Ron, is this collection legitimate? Should I pay it?”  The offer was for the settlement of a debt totaling approximately $9,000.00 for only $2,000.00.  A great deal, right?  Problem is, Rhonda really didn’t know any of the details about this debt.  I suggested that we do a little research and get some information before paying.

Well, we did some fairly extensive research and, as it turns out, Rhonda came to the realization that the debt is probably not hers.  Not only that, in communicating with the Collection company, there were several violations:  1) No Mini-Miranda statement on at least one call and one voice mail message,  2)  A veiled threat of legal action, and 3) Stating that when paid the account would be removed from her credit report.  The problem with #3 is, the account isn’t on her credit report and the debt is so old that they can’t put it on anyway.

Rhonda admitted that, had I not cautioned her to do some research before paying, she would’ve gone ahead and paid the debt and been out the $2,000.  Okay, so saving her $2,000 is pretty cool, but check this out:  I turned the information that Rhonda and I had gathered over to the attorney that we refer our FDCPA cases to.  He has now filed suit in Federal Court on Rhonda’s behalf for the above-mentioned violations!  So hopefully Rhonda will soon be receiving a settlement from the Collector–all at no cost to her!  I will update this blog as soon as I know the results of the lawsuit.

See why I love my job?

Best Regards,

Ron Reed
FDCPA Compliance Director

National Credit Solutions
214.504.7102 DIRECT
R.Reed@NCS700.COM

 

NOTE:  How do you know if the collection calls or voice mail messages you are receiving are legitimate?  Give me a call at 214.504.7102 or email me at R.Reed@NCS700.COM.