@@zeelife6518 they will never cancel the debt, they will just sell it onto another company. But after it’s statute barred and you know what your doing, you can mess with them big time. If it’s an old debt tell them to take you to court and also tonsupply details of the credit agreement ( they can’t) it’s all gravy. They bought the debt. They want people not to defend themselves and they win by default.
If you cant file bankruptcy and you are not judgement proof then you need to remember THEIR ARE NO DEBT JAIL so let them wast their time and money just hang up and don’t even admit your own name.
@@wallywally1984 Don't even talk them if you are judgement proof... There is no need to... Let them waste their time and money finding out the hard way that you are judgement proof... They probably wouldn't believe you if you told them you were...
The confidence you take in your work is really inspiring and amazing, special thanks The time and efforts you had put into deleting all inquiries and collections is beyond excellence. Take my cordial thanks! You are really an efficient, organized and result-oriented man Thank you for all the extra hours and extra effort you had to put on for getting credit repair done. I appreciate every bit of your effort. Thank you *Solvency backdoors* for pulling this off so smoothly...
The method yt videos teaches isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Solvency backdoors* is the solution to all bad credit reports, negative items & finance problems 👌 their name is spelt as *solvency backdoors*
When I was a computer consultant, one of my customers was a collection agency that dealt primarily in medical debt. The president of the company told me that their biggest problem was that many people would get the bill from the collection agency and then call the doctor and pay them instead of the collection agency.
I was told that if the debt was SOLD, that you do not have a contract with the debt collector unless, you confirm your identity via phone or certified mail signature. You do not have a contract with that type of collections, so ignore. I have done this with the proper collections and it worked.
When you sign up for a credit card or line of credit If you don't pay them and they give you notice then they're allowed to send it to collections because you agree to the terms and conditions which is in the cards and loans you sign up for.
@@spankynater4242 There's also the issue that there are things like apartments now that require a credit check, not to mention that some jobs aren't available if your credit score is low enough to flag you as a theft risk.
To all my Veterans out there that receive VA disability compensation. Your income is Federally protected from garnishment unless it is federal dept, or court ordered child support. Any money deposited into the same account as your VA compensation also becomes protected. So, your spouse's income in a joint account will also be protected. When they call you tell them the dept is not yours and your sole income is VA compensation, and you will never be served with court papers because they know they can't collect, and the calls stop.
Disability is protected against child support also. My bank gets a garnishment notice from California but never respects the order because they acknowledge my Disability as protected income.
Awesome advice! I live in Ohio & the statue of limitations is (6) years. On credit card debt ect . Every state has its statue of limitations. My advice to all is to check with the laws in your state . Know your rights .
In Texas it's four years for any kind of debt except student loans and child support. I know, child support is not technically a debt, but it is treated as one.
@@johntracy72 4 years ? In AZ it’s 7 ! Do student loans stay on your credit forever ? Even if you default. What’s the law in Texas for student loans and your credit ? If you don’t mind me asking.
@@MoonWitch77 Thanks in part to Biden, federal student loans are essentially forever, or until you pay up. There are a few situations where you can get one discharged, but in general, they aren't dischargable in bankruptcy court.
As an attorney, do this. Do not take the call from an unknown number. Do not pay the collector. Contact the original creditor and tell them you do not have the money to pay the debt. Ask them to please write off the debt and send you a 1099 for the amount owed (aka forgiven debt). Then at tax time talk with your tax accountant and they will assist you with dealing with the IRS. Usually they way it since you did not have the income to pay the debt. But that is what your account is being paid to help you with.
Wave the income. (Sorry, auto correct). When the creditor issues the 1099, the debt is forgiven and MUST come off the bureau as a paid debt including any & all collections. And the debt cannot be re-sold to another collector.
This is sound advice. Most people know way in advance that they’re experiencing a financial difficulty. By working directly with the original creditor instead of waiting until it gets sold to a 3rd party collector, you’re nipping it in the bud. Surprisingly, the majority of creditors WILL work with you on settling the debt, whether it’s a reduction of the amount owed, allowing you to pay interest-only until you get on your feet, or the debt is completely forgiven. Sure, your credit will still take a hit, and yes, you’ll get a 1099 form because it will count as income (if they reduce the amount owed), but it won’t be as bad of a hit as it would be if it goes in collections.
Hi James, can you please help me out for a moment? I don't owe nobody anything. Infact, I got scammed for $1500. I signed with an agency 3 months on $1500/mo monthly. I stopped after month 1 and realized he's a scammer. So I told him I don't want none of it anymore and won't pay a penny more. He threatened with going to small claims court. 2 months ago, somehow he contacted me again now saying "don't think I forgot about you, I signed with a debt collector to get you" So the OG number is $3000 for 2 months. but he's saying that I owe him from August to Jan so $10000 if not more... Heres the thing: 1) the contract I signed only has my first name 2) He sent th3 small claims court to a false address cuz he didn't have my real address. My question is: Should I be worried? Can he keep increasing my debt like that and eventually get the law involved to seize my possessions?
the statute of limitations usually is around 4 to 7 years depending on the state and amount of the debt ...if you reset that by admitting to it or paying a minimal amount for whatever reason you will reset that statute of limitations and you will have that on your credit report for another 4 to 7 years and if they want to sue you, they can again.
Depends on the debt though. If it's to the government for example, the limitations may be much longer like 10 years (but then again, the IRS will never call you either, but I think before it gets to that point, the government can start garnishing wages if you have backtaxes that are in collections).
I appreciate your willingness to do the extra work. This is a responsible task, but we have no doubt that a credit fixer like you will get our done *Solvency backdoors* your hard work has proved that this job was destined for you. You have made me realize that I made the right decision by delegating it to you. Well done
The method yt videos teaches isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Solvency backdoors* is the solution to all bad credit reports, negative items & finance problems 👌 their name is spelt as *solvency backdoors*
Had a debt collector call me up and I agreed to pay $20 a month or something like that to pay off a debt. It still would have been paid off in less then a year and they tried to tell me I needed to pay it off faster to help my credit score out and told me to narrow the money to pay it off. At that point I refused to pay it.
@pigospin I didn't be barrow any money. I got Comcast hooked up back in 2012 and they didn't give me the right boxes. I wanted a DVR in my room and they have it to my roommate who had an HDTV and then told me I couldn't get a DVR because they had an HDTV and mine and the living room was an old style big TV. Then that same month (January) when I tried to order the Royal Rumble and went to the actual store and ordered it when I went to try to deal with a box situation, the night of the Royal Rumble it did not happen on our box but rather to the HDTV up in their room and they have to be up at 3:00 a.m. to go make donuts so we couldn't go to their room and watch it. They said because there was an HDTV it will not let us get pay-per-views on the standard television, as I even tried ordering from the cable box before I called them. They said that they would cancel the pay-per-views I wouldn't get billed for it. Then when my first month's bill came in it was $300 and some dollars over what the bill was supposed as we were supposed to be getting a deal with a box, internet routers and the DVR for about $120. As they charge us for the self-installation kit which I already paid for when I picked up the boxes but they were also in charging us for having someone come out and install it. On top of that we also got charged for the Pay-Per-View. I called them up and they told me that they would correct the bill. After 2 weeks no bill ever showed up and I gave him a call back. No changes were made and they don't see a note about any of this stuff and told me I basically just had to pay it. We oh my God the service for a little over a month and I told him that they needed to come pick up their boxes because we were going to go elsewhere. When they showed up they took the HD box and the router but refused to take the other two boxes saying that it was not showing as in their system. When they sent me my final bill statement though they were charging me for unreturned equipment which featured two internet routers, when we only had one and they had already picked it up. 2 HD boxes, which we only had one and they picked it up. And the 2 standard boxes that I had and they refused to take because it said it wasn't in their system. We went to go with the bill, that's what they gave us for picking up the HD box and router originally, and the boxes to the physical location but once again they refused to take the boxes. A couple weeks later we got another bill from Comcast thinking finally they fixed the bill. But they billed us for another month. We called the same old story telling us that we just had to pay it and it was over $600 for about maybe 5 or 6 weeks worth of service. Not to mention I had already paid for the self-installation kits and even paid about $120 for the first month's bill. This was never reflected. About a week and a half later we got a message from debt collections on behalf of Comcast for $680. I actually got advised NOT to pay the bill as this lady had worked as a financial aid. She stated it is actually illegal for a debt collector to deny any form of payment. Furthermore once it goes to debt collections it cannot do any more damage to your credit score and any damage that could be given is has already been done. I was told not to feel threatened if they take it to court because if they did push to take it to court and since I had all that information on me I could probably get the charges erased in court. They never pursued it.
My experience. My hell hound collector said “well you shouldn’t have charged it if you didn’t plan to repay”. We paid them thousands and thousands of dollars. I told him, we have repaid anything that we bought, 100x times over, mainly interest . We were out of work. Suddenly. I told him, you know, someday you may be in our situation. A couple months later, AMX did a MASSIVE layoff. It may sound mean, but I hope he was in our shoes. .
The interest rate that you agreed to pay is no one's responsibility but yours. Most financially responsible people have a savings to use when unforeseen circumstances occur. They don't buy new cars, boats, motorcycles or RVs until they have a nest egg built up. Blaming the collector is absurd.
@@Littlebigbot most people in the usa have no money, if you have a money put by for unforseen circumstances then you are one of the minority of americans who have. consider yourself very lucky and try not to be so judgemental of your less fortunate fellow countrymen.
@@Littlebigbot Are you blind with the inflation going on? People are needing to choose to pay mortgage and food over credit cards. Your statement doesn't hold water here.
Many many years ago, My brother received a phone call from a debt collector. He told them that He put every debtors name in a hat, and when he pulled out just one name, he stated it wasn’t your company. Hopefully your name will come up in the next drawing. Not how I would have handled it, however I guess he was tired of the constant phone calls.
The best way to handle a debt collector? 1) Do not answer a call from an unfamiliar number. 2) No voicemail? Then block the number. 3) Credit score? Take a break. It's what got you in trouble in the first place. Nothing personal. It's how the game is played.
I’ve been doing all of that. The statue of limitation’s for meat is in four months, but Bank of America did initiate a lawsuit for me. If a lawsuit is initiated by the original creditor, what’s your best recommendation? Because from what I understand if they win a judgment by default if I don’t do anything, they could levy my bank account and my car.I am 1099 so they can’t garnish my wages
That's odd if it was actually on your report because it doesn't go away just because they get paid off. If it was just someone claiming a debt was on your credit report and you pulled your credit report and it wasn't there you probably had a scammer phishing for money.
@@theyaden I check my report daily. The collection was from an apartment I rented. they tried to come up with some bogus fees and it was on my report for 5 years
@@Littlebigbotyou realize it's just numbers on a computer screen that they loan out at Shyster interests rates, right? Maybe try to not be such a slave to these institutions.
Good Video. Another thing people in bad debt should not consider doing, is falling for the ads on tv and radio from companies that say if you are in bad credit card debit, you could owe far less because there are secrets the Credit Card companies don’t want you to know. It’s All BS! There are no secrets! They just take your money and tank your score anyway. Your better off listening to this girl and try to negotiate your self. Or if it’s that bad. Calm BK. suck it up for 7 years and start over.
Was dumb, bought house at 20, every year mortgage went up, through taxes, or loan fee increase, whatever. Tried to sell, couldn’t. Thought foreclosure would ruin me forever. Turns out I was paying extra 500 a month for insurance in case I defaulted. Part of why it went up every year. Lost home, but All debts on it were paid. Apparently that was the intent of lender in first place. Never went against my credit.
@mr.frandy7692 actually, in my case I didn't. I simply stopped paying and they couldn't do anything. They tried to bombard me with emails and collection agencies but when they saw that I knew the law and they couldn't get it from me, they left.
I pay Lexington Law to help me deal with debt collectors and the credit bureaus. Now I’m on my way to rebuilding my credit and am already 90% there. By the end of this year, maybe even sooner, all my negative debts will be removed. LEARN/KNOW your rights !!!
In America we have a thing called a statute of limitations. It ranges between 2 to 7 years and varies by state. It's a gamble, but the odds are likely the debt collector won't file in court. They'll just sell the debt to another debt collector will then try to call you again. Once you have waited the debt out to the statute of limitations under state law you can tell the debt collector to pound sand because the debt is uncollectable under the law. As the video says, don't admit to the debt, but do find out when the debt was originally created. I had a family member pass because of cancer several years ago. They were insolvent. I was listed as the executor of their estate. They didn't care my family member was decreased. When I discovered the age of the debt and the statute of limitations was expired I told the debt collector they weren't getting money based on that. They stopped calling. A few debts were sold to another debt collector, but they eventually got the message and stopped calling and sending demand letters.
If you do not get a validation letter from them within the first 5 days of contact, you can show that to the court, as its illegal to request it without proper paperwork. This is in Canada, check your laws all the time and make sure you overpower them.
@@Clari022384 That's when you either pay up, negotiate a payment plan or get an attorney involved. If the validation letter contains the correct information, you owe the money and you'll probably wind up paying, either via a court ordered garnishment or voluntarily. A good attorney should be able to find the best option.
I got a summons to appear in court on January 16 . I made an agreement for monthly payments that I can't afford to pay. But Discover would not go any lower than $273. A month we are in our 70s and on social security. We owe $4779.23
Just remember, that they can't garnish your SS payment!! There is a website called HELPS & they have some really good info in their videos. I think that they would be really helpful for you.
Just tell them you can't afford it. Send them a check and they will probably cash it. Or just don't pay them period. It really depends on your situation.
Had a credit card company lie to me & screw me but they never considered that id be recording them. Lawyer told me i have enough that if they took me to court id win so to tell them to F off & not pay them
Simple. Don't respond to them. No letters, no phone calls nothing. In the unlikely situation one does sue, don't panic. Contact an attorney who will have the case thrown out of court. The lawyer's fee will certainly be less than the amount plus add-ons the collector is demanding. Hint: lawyers will take payments and your first consultation is free.
@@MrRichgounder1969 The attorney's fee is less than the debt. Plus the debt is on your credit. The collection agency bought the debt for pennies on the dollar. Eff collection agencies. Go on and sue me. You won't come out ahead.
When you are able to negotiate a lower debt amount, why is it that they can take the difference between what you owe vs what you settle on and turn it into the IRS 1099 as income?
The 1 thing I noticed that you Didnt mention was the fact that Seniors Dont Need To Pay Off Their debts if they are living off of their Social Security and they fall below or on the line of Poverty. I think this topic would be helpful to those Seniors in this position. I was helped by the team at HELPS and if a senior has come across this video and you need help with your debt, then you should contact HELPS if this team on this video cannot help you out.
My brother successfully sued a debt collection agency twice at 2 different times for 10G …..😂😂😂😂😂. After the 2ond time they didn’t try to contact him anymore 😂😂😂. The first time they didn’t learn their lesson….They wanted 30 G and ended up up paying him 20G 😂😂😂😂😂. The debt was almost 30 years old….He eventually went to court and the debt was written off. 😂😂 Thanks debt collectors For your generosity.😂😂😂
@@strongtv_creator He had to go to court numerous times over the years and he had a pit Bull attorney help him…..He just got postponement after post ponement until finally one day he got older and was on disability…..And the judges got tired of dealing with it and tossed the whole thing out because they said it was becoming a nuisance and costing the court system more money than it was worth😂. But them nasty debt collectors got taken to court twice for harassment and sued twice and paid dearly 😂
@@bluemoon2934 thanks for responding see I had a kidney stone and went to the ER now they charge me 15k I know I have time till it hits my credit I’m trying so hard to figure out what to do… I’ve been working on my credit for a long time and life happens now it’s a chance my credit score will drop!! Them court dates cost though I bet ? Thanks again 🙏
@@strongtv_creator And on top of all that he used credit cards to pay the attorney and then when all was said and done ,he filed for bankruptcy and never had to pay off the credit cards 😂😂😂😂😂.
Please watch this video to the end. I see in the comments some folks who have the impression they no longer have to repay their debts. I don't think that is the message this video was meant to send, as that is truly terrible advice. Although this comments section is full of misconceptions and terrible advice, the video is simply stating to do your due diligence before you pay it, should it be a debt you rightfully owe. Overall, mostly accurate and informative.
I'm in debt with discover card from back in 2020 fast forward to 2023 after hundreds of collector calls this guy shows up at my door tells me his name and "servers me" with "court papers" I tell him thanks but get off my property don't come back. The next day I go to my local court house as the papers said I was going to be sued and the local court was 5 minutes away.....so I inquire about the papers and the court tells me the papers are false and there's never been any case against me...they continue by saying if you get anymore of these papers ignore them unless you hear directly from us....since then I've been mailed multiple "court day " papers and all turned to be fake....now I just block collector n I mbers and toss any additional " court papers"
I'm really grateful that I came across your video. I've actually been sued by the biggest Junk Debt collectors (Midland Credit Management) and am representing myself Pro Se. I have trial the 29th. The scare tactics are so offensive and unnecessary... you nailed that point. I think outta probably 120 people started out at the beginning that were there thru the same Law Firm representing MCM. I did a lot of research and found out. There were multiple federal cases against Midland. I also had kept in contact with the law firm going on three years now, and have not been able to come to a settlement agreement. Multiple times I was told by the law firm and the debt collector that my debt was purchased for the full amount and that is what they were asking for. I said that I would give them 10% of what they bought my debt for... I was immediately shut down and told that they would take a payment plan for me of $50 a month for about the next three years😂😂😂... luckily, I did my research like I said, and as you stated in your video after seven years, your credit clears. And if I even started one payment, it would reset the clock like you had also stated... very very valuable information and I just wanna say thank you. I commend you for your honest wealth of knowledge on this subject, and I am incredibly grateful! ❤❤❤
Tell them you don't believe the debt is yours.. in fact write them a letter I think it explains in this video ....or use the harassment thing...I'm going to trial with the law firm they've hired ... is mcm just contacting you or did they hire kohn law firm
I answer my phone with my business name. When they ask to speak with me, I ask if iI can take a message. They usually say that it’s a personal matter. Which then I reply, “If it’s a personal matter, then you’ll have to contact them on their personal line and on personal time”. “Do you have their personal number?” “I am sorry, I’m not allowed to give that out. Have a nice day.” This has happened twice and I haven’t heard anything for months.
The most important thing to remember is that if your debt has gone to a collection agency , paying them is the equivalent of throwing your money out the window. Your credit score can NOT be fixed by paying off your debt to a collection agency, even if they tell you that it will ...It is one of those lies that they will all tell you. If the debt has been sold to a collection agency your credit score will be damaged. The quickest way to repair your credit score is to pay off your monthly credit card early every month and pay it completely. In a relatively short time they will cancel each other out and your credit score will go up. Don't be stupid. If your debt has gone to a collection agency, it is ancient history.
i am on the other side.... i am a welding business trying to get paid over 3000$ from a customer who has ghosted us, wont answer calls, emails, or texts. We've sent it to collections.
I had an agency contact me by mail a couple months ago trying to collect on a 20 year old debt . Never answer the phone when it isn't a number in your contacts. After a few minutes call the number back and get the company name and type of company with out telling them who you are . Block the number. You can also return any mail to them by telling the post office it is a scam letter, the post office has a bundle is what they call it . Never heard from them again.
Pretty much all you can do is ignore them . They can’t actually take you to court since the statute of limitations is up . They’re calling me nine years after the statue of limitations ran out. I just ignore them. They can ask for the rest of your life. They just can’t take it to court once the statue is up and if they do you just bring up the statute of limitations for your state.
I have a $2500 line of credit debt, which I could pay off but not at the rate of auto debiting $200 out of every paycheck and they won't renegotiate. Thinking of letting it go to collections and negotiating with the collectors for a lower payment. Worked with Visa, pay $17 every two weeks.
I'm not a lawyer. I heard this advice from another person on UA-cam to answer the phone and ask them what is the nature of your call and then request that the call continues without recording. And most times they'll hang up because they want this call recorded because they want to get you verbally, legally bound to that debt. Your debt is with the original company and you, as a contract, if you think about contracts. Not this collection company, so by using this technique, they can't get you to verbally acknowledge to a new contract, basically, with them, with a debt collector.
In my younger years in my first go around with credit, things went to debt collectors and eventually just disappeared over time. Then later in a life (just in the last couple of years), I lost my wife, and had huge financial strain, and had to let my credit cards go because I couldn't afford to keep up with payments and take care of my kids at the same time. They went to collection but then something happened that was different than before. I was served not once, but twice court orders to repay. I had no choice at this point because I was remarried and had the income to pay, and will be for several years from now.
HOW TO ACTUALLY GET BAD MARKS OFF YOUR CREDIT REPORT you send them a certified letter demanding an agreement to payoff terms, and demanding that once you pay them off they WILL remove the marks from your report within 30 days. when you get the agrement letter back agreeing to the terms, THEN pay them...if they dont remove the bad marks after 30 days...DISPUTE the bad marks and send copies of the promise letter of debt paid off that you got back from the debtors to the 3 agencies and BAM!! bad marks off...100% Guaranteed EVERY time....THIS is what all those credit repair people wanna charge you 300 bucks to learn.....your welcome.
There is no law that says they must completely remove it from your credit report, but they must correct the report and make a 0 balance owing. That still is on your report.
@kenm6049 i settled a collection with it being completely deleted from my account 4 years ago. So idk who told you this but you can in fact have it removed from your credit report upon paying them. However like the OP said you have to get that in writing till this day I still have may deletion letter settlement with me just in case.
bad advise. You don't even need to pay them back anything, don't deal with them, they are all scammers, lending you nonexistent money and demanding hard cash or property back.
Great information. But the first thing i hear on the phone is " This call is bring recorded, and then they ask me to verify my name. So what about that information?
I just blocked their number until they stopped calling. Once, I told them that the person who had my number before me died in an accident. I inherited their phone... they hung up on me.
When you decide not to pay it when the original creditors and ignored the original creditors mail and phone calls. Debt collectors don't exist if people pay their bills it's not a hard concept.
We lost a baby years ago in the middle of the pregnancy, and the hospital boggled some stuff afterwards that could have made it much more difficult for me to successfully have another baby later. To add insult to injury, about 2 years later a collection agency called my husband at his job...we had moved away by then....and told him we had thousands in unpaid hospital bills that we had never once been sent a bill for. I gave my husband a list of the mistakes they made and he called them back and said that first, the bill was too old to be collected and we had never been informed of the debt, amd second, if they wanted to push it we would be consulting a lawyer about x, y, and z that they had failed to do. We never heard from anyone about it again. In retrospect we should have consulted a lawyer when it happened but we were too emotionally drained to deal with anything more.
If a third party buys an alleged debt, you do not owe the debt collector a cent. Only communicate thru the mail. When they file....you file on the collector. You subpoena 1.....the valid hard copy contract between you and the debt collector.....they don't have a contract. A corporation can only interact with another corporation thru a contract. 2.....supeona a certified full forensic audit in accordance with international accounting standards. The audit will show there is no debt. They won't let go that far. Tell the debt collector to remove any info they placed on any credit bureau
@toddrunyon it's always funny. People don't know the fdcpa laws, and it shows that a lot of people, especially in the comment sections, don't read the fine print on anything because the fine print will tell them this.
We have a debt that disappeared when purchased by another company ( the new company did not automatically take payment from our checking account). We were contacted by the collection company that they wanted to settle pennies on the dollar. We could not do anything at that time. They took $3500 then $1500 out of our checking account without our permission. Also, I have no collection on my credit report. Is it legal what they did?
#1 go on line to the Federal Trade Commission the information is excellent. It will tell you how to file law suits against the debt collector companies that harras or even make threats, record the conversation and document and then present it to s attorney to flie a law suit. But read the all the information in the Federal Trade Commission.
Yes you're exactly right because it's just little people who charge you that extreme rate don't blame the company whatsoever.. every company out there is screwing us because they are allowed to stop blaming people who don't have money and blame the people who have it all but care not to share
I had a friend who worked for a debt collection company. She explained all the rules they had to follow to me. I had a collector call me and the guy started yelling at me and telling me i needed to go pawn my stuff so i could pay him. I started laughing at the guy which made him even madder. I knew from what my friend had told me that his behavior totally wiped out the debt. Good times... 😅
@@nonmups9973it’s illegal to threaten someone and tell them what they have to do. The phone calls are recorded and you find a civil litigation lawyer to sue the company. You can record your conversation with a debt collector too. You just have to let them know and ask if they agree to it. If they don’t then you can further force them to remove the debt.
After 4 yrs , ca , statue of limitations has expired , collections cannot sue me anymore but can , still call and ask me to pay ? But I am not obligated to pay Thxs
@@ewkabel Yes an agency can advise you, BUT NOT THREATEN, if there is no payment or payment arrangement it most certainly can lead to a garnishment or lien on any assets that you may have. This is not against FDCPA
I just got a letter telling me they sold my debt. Then sent an email wanting my new phone number. I have no way to pay this money to this company. The interest was outragous and payments went up every month and i just could not afford it.
I got a collection letter and they have messeged me, about my car insurance i used to have. Didnt pay the last month because it wouldve renewed and they would increase payment for the next month. Because of it they want me to pay 258. mind you i used to pay 456 monthly. They wanted me to pay 706.
@@lauriefortier4210contact an attorney. Check with your local or county government or legal aid society to see if there is any legal help available for low income seniors.
Not true. Just got sued from a debt collector. They can garnish 25% of your wages here in VA. Put a lien on your house. Levy your bank account. Have the sheriff's dept sell your property to get the money.@@gasmith7486
I’m not paying unless it’s court ordered, they’ve been trying to contact me for years at this point so maybe it’s not worth the money to go to court. Either way, nope.
So I’ve been getting called for a 759. Dollar debt and got pre legal notification should I just ignore until it’s court ordered if it gets to that point ?
@@gilbertzavala863 if it is debt collectors who call you just tell them that you don't have any written contract with them and therefore they are illegal entity who don't have right to contact you and demand anything from you. It worked in my case. Courts are actually also unlawful. It is all a big game rigged. They "lend" you nonexistent money (which they don't have) just by typing numbers on a keyboard(which is lying to you, scamming you) but then demand you to pay them back with your property. This is ultimate form of scam. The WHOLE financial system is based on this scam but people think it is lawful and normal. Try to find and read "sovereign citizen" and "strawman" materials, they teach how to avoid those traps.
@@gilbertzavala863 .. they will take it to court and garnish your wages if you're working. My husband is in garnishment for a medical bill he created because the hospital filed his insurance wrong, never told him, showed up three to five years later with a letter in the mailbox saying he was being sued and that they'd be seeking garnishment.. next thing we know, a paycheck or two later.. bam.. garnishment. We'll be dealing with that for six months all because the fault of the hospital screwed up.
I was set up on a hardship case with one of my creditors. They set up a much lower monthly amount and no late charges, even if I missed payments. Well, I missed several because I struggled even with that lower monthly amount. So, recently, they turned it over to their collections. I talked to a rep there. She was so sweet and understanding, and offered me a settlement of 2/3 less than the total. I was so happy, I put down half of the amount right then and there, with the promise to pay the other half in July (she let skip a month due to a pre-existing situation). I will call her and pay that other half as I said I would. She saved me $93!🙏🏼💕
Yes you can…new laws that were passed by Congress….collection agencies cannot place on an individual’s credit report until 1 year after the DOR… DOR being the date the original creditor place with the agency. So you can set up a payment arrangement to pay off before it reports.
No one needs to worry about debt collectors. Because they don't have any right by law to demand anything from you. Why? Study the law about this. It is unlawful to demand anything from a person unless you have a mutually signed written contract with them. You can always tell collectors that since you don't have a contract with them, they are illegal entity and you request them to cease and desist. They will do just that because they know this law. It is just people don't know it. The whole world financial lending system is based on this scam. They "lend" you money that they don't even have, simply typing numbers on computer screen. Even most banks do not have a hard cash assets nowadays. Did you know that? Surprise! :))) Yes., they don't have real money but pretend to lend you money they don't have, by lying to you. Then, if you didn't pay them back their "painted money", they try to take a real cash and property from you. It is just a modern age robbery and pillage without weapons and spilling physical blood. Study "strawman" and "sovereign citizen", they teach a lot about it. I personally managed to stop debt agencies on their track and even billing companies from chasing me, due to knowing these matters and dealing with them accordingly.
@meagon177 there are some who will send you a full and final settlement email or letter saying what you agreed to pay in that letter. I know that some will delete it off your credit after that settle with an account finalization letter stating that the payment was made in full.
Once dept gone to collections, and if I want to settle, should I be working with the collection agency or creditor to get the remark removed from records?
Same here except I stopped paying because it was bogus. On top of EMS bill that I refuse to pay. They sent it to a collections agency and demand payment. I block numbers and I dont interact with mail. They really cant do shit about it. All they can do is sell it off to another agency or write it off. Screw em. I dont even make enough to live let alone 3k to pay lmao
@@Paladin_Green you did right. I did the same years ago when contacted by collectors after defaulting on personal loan. I told them they didnt' have right to contact me due to the absence of mutually signed contract between them and me. This means their demands are unlawful. When I said this to them, they stopped and desisted.
most of them are fraudsters, they "lend" you money which they don't even possess (they just type numbers on computer screen, its a scam!) and then demand you pay them back with cash or property. This is s finansial system scam that operates in the whole world today. I stopped debt collectors by telling them to f* off because I never had any mutually signed contract with them, which meant any of their demands were unlawful. After I told them this, they disappeared for good. It was years ago.
@@Paladin_Green Well.. that's what you think.. my husband's wages are being garnished. So be ready for that.. it may not be today or next week or even next month or next year.. it took them three to five years to finally decide to sue my husband. They won and he's now being garnished for six months til it's paid off... and it wasn't even his fault. It was the fault of the hospital for filing his insurance wrong, not doing anything about it or refiling it or even telling us until we got word that we were being sued all these years later. So don't laugh now b/c I promise you that they'll have the last laugh.
I just got a letter with a sheriff stamp on the top of the letter and there talking about putting a levied on my bank account I will never co sign for anybody again
About about 25 years ago. I was called on by a law firm to pay off a debt. They wanted access to my checking account. At that time I did not have the knowledge to say no. After the first payment was taken out another was taken out and my back account was bouncing. I contacted my bank and was able to change my account. I then sent the law firm a certified letter saying they are no longer going to have any access to my account and I have sent a complaint to the BAR association in the state they were in and then told them there will be check writing fee for each check I mailed to them. In the letter I also had said that cashing the check would say they were in agreement to the deal. They cashed the check and did not read the letter. That can of worms was fixed. Needless to say. I was able to pay a lot less them what was owed.
I just had about 20k pop up on collections on my credit report when I go to my credit card apps. Man I know I’m probably going to end up with over 100k in medical bills due to me being in the hospital for over 11 months.
You know, I’ve heard mixed reviews on medical bills if they don’t go on your credit but then from others, I heard if they do, I did get my taxes, state taxes, anyway garnished for owing the hospital soooo.. that gave me my answer that they do go on your background, HOWEVER…. As far As Recently I thought I read something about medical bills NOT going on credit reports I don’t know what state you’re in, but you might want to check into that?..
@@SpecialKAY421in Florida medical debt goes into collections and added to your credit report. For the first time ever I have medical debt on my report.
![We TEAR APART a debt collector lawsuit [Midland Credit Management]](http://i.ytimg.com/vi/ZyYx7L1EKmc/mqdefault.jpg)
![We TEAR APART a debt collector lawsuit [Midland Credit Management]](/img/tr.png)
![Lp. Сердце Вселенной #60 РОЖДЕНИЕ ЛОЛОЛОШКИ [Финал] • Майнкрафт](http://i.ytimg.com/vi/YoR0pAV9FVQ/mqdefault.jpg)
Serious about paying down debt? You should sign up for our ✨free✨ mini-course, 5 Days to Debt-Free: try.dowjanes.com/5-days-to-debt-free/
Lol
Do I have to pay late installment fees after I paid the full amount that was originally agreed upon on the contract.
Im getting sued by a city I never lived in for trash service I never had at a house I've never seen.
@@slimnim1753 sounds like a scam
I just constantly call them to waste the company’s time. I’ve now been blocked by several companies. Great fun.
Looool u funny, does that mean they erase ur debt?
@@zeelife6518 they will never cancel the debt, they will just sell it onto another company. But after it’s statute barred and you know what your doing, you can mess with them big time. If it’s an old debt tell them to take you to court and also tonsupply details of the credit agreement ( they can’t) it’s all gravy. They bought the debt. They want people not to defend themselves and they win by default.
If you cant file bankruptcy and you are not judgement proof then you need to remember THEIR ARE NO DEBT JAIL so let them wast their time and money just hang up and don’t even admit your own name.
Lol I hope y'all get sued
@@wallywally1984 Don't even talk them if you are judgement proof... There is no need to... Let them waste their time and money finding out the hard way that you are judgement proof... They probably wouldn't believe you if you told them you were...
The confidence you take in your work is really inspiring and amazing, special thanks The time and efforts you had put into deleting all inquiries and collections is beyond excellence. Take my cordial thanks! You are really an efficient, organized and result-oriented man Thank you for all the extra hours and extra effort you had to put on for getting credit repair done. I appreciate every bit of your effort. Thank you *Solvency backdoors* for pulling this off so smoothly...
Their name is spelt as *solvency backdoors* & are committed to getting dead credit and finance back in track.
I’m glad to be fortunate enough to get to know their name and looked it up online.
*You also need to look their name up to see their website.*
The method yt videos teaches isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Solvency backdoors* is the solution to all bad credit reports, negative items & finance problems 👌 their name is spelt as *solvency backdoors*
All you also have to do is to look their name up like I did to see their website online
My debt is to the company I made the purchase from. If some collection agency wants to pay it off for me, then thanks! I don't owe them a penny.
🤣🤣🤣🤣🤣🤣🤣
When I was a computer consultant, one of my customers was a collection agency that dealt primarily in medical debt. The president of the company told me that their biggest problem was that many people would get the bill from the collection agency and then call the doctor and pay them instead of the collection agency.
@user-wh5ir4fo4rnot usually. Chase will. Companies like Best Buy don’t necessarily go after you either the collection agency.
@@ej2953Had this exact thing happen to me. I payed on the same day my bill was transferred.
@CCKaraoke maybe if you paid the company you purchased it from debt collectors wouldn't exist.
I was told that if the debt was SOLD, that you do not have a contract with the debt collector unless, you confirm your identity via phone or certified mail signature. You do not have a contract with that type of collections, so ignore. I have done this with the proper collections and it worked.
😂 that don't work anymore company's are taking people to court and legally garnishing wages now good luck
What worked? They stopped contacting you? Didn’t affect your credit score?
@@rra7490 If your debt got sold, your credit score is already affected. It's not gonna get worse just because you ignore independent debt collectors.
The original contract most likely says it transfer if sold. so yes you do agree to it.
When you sign up for a credit card or line of credit If you don't pay them and they give you notice then they're allowed to send it to collections because you agree to the terms and conditions which is in the cards and loans you sign up for.
Awesome video! I almost was scammed. Smh. It's getting bad out here with this type of crime.
This is absolutely illegal
It's literally extortion what they're doing
If you're not trying to build your credit just ignore it and don't go in more debt eventually it'll go away.... mine did from years ago.
But you can always find your name in collection no matter how old you grow😂😂😂😂😂😂
A friend of mine tried this, and her bank accounts were locked.
@@spankynater4242 There's also the issue that there are things like apartments now that require a credit check, not to mention that some jobs aren't available if your credit score is low enough to flag you as a theft risk.
@spankynater4242 that's because they owed the federal government. 3rd party debt collectors don't have the means or authority to do that.
@@ThaRealest616 It was a third party debt collector, not the Feds. They filed a law suit and had her accounts locked.
To all my Veterans out there that receive VA disability compensation. Your income is Federally protected from garnishment unless it is federal dept, or court ordered child support. Any money deposited into the same account as your VA compensation also becomes protected. So, your spouse's income in a joint account will also be protected. When they call you tell them the dept is not yours and your sole income is VA compensation, and you will never be served with court papers because they know they can't collect, and the calls stop.
Does that also include Retired military pay? No VA disability pay, just regular Retired Military pay?
same thing with SS I have both
Disability is protected against child support also. My bank gets a garnishment notice from California but never respects the order because they acknowledge my Disability as protected income.
Child support can't even garnish it they can't even garnish ssi 😂😂😂
I love it child support can't garnish my ssi 😂😂😂
Awesome advice! I live in Ohio & the statue of limitations is (6) years. On credit card debt ect . Every state has its statue of limitations. My advice to all is to check with the laws in your state . Know your rights .
In Texas it's four years for any kind of debt except student loans and child support. I know, child support is not technically a debt, but it is treated as one.
@@johntracy72 4 years ? In AZ it’s 7 ! Do student loans stay on your credit forever ? Even if you default. What’s the law in Texas for student loans and your credit ? If you don’t mind me asking.
I'm in Ohio too
@@MoonWitch77 Thanks in part to Biden, federal student loans are essentially forever, or until you pay up. There are a few situations where you can get one discharged, but in general, they aren't dischargable in bankruptcy court.
Mine is 10 years lol
As an attorney, do this.
Do not take the call from an unknown number.
Do not pay the collector.
Contact the original creditor and tell them you do not have the money to pay the debt.
Ask them to please write off the debt and send you a 1099 for the amount owed (aka forgiven debt).
Then at tax time talk with your tax accountant and they will assist you with dealing with the IRS. Usually they way it since you did not have the income to pay the debt. But that is what your account is being paid to help you with.
Wave the income. (Sorry, auto correct).
When the creditor issues the 1099, the debt is forgiven and MUST come off the bureau as a paid debt including any & all collections. And the debt cannot be re-sold to another collector.
If in collection hadn't it already been written off?
This is sound advice. Most people know way in advance that they’re experiencing a financial difficulty. By working directly with the original creditor instead of waiting until it gets sold to a 3rd party collector, you’re nipping it in the bud. Surprisingly, the majority of creditors WILL work with you on settling the debt, whether it’s a reduction of the amount owed, allowing you to pay interest-only until you get on your feet, or the debt is completely forgiven. Sure, your credit will still take a hit, and yes, you’ll get a 1099 form because it will count as income (if they reduce the amount owed), but it won’t be as bad of a hit as it would be if it goes in collections.
Hi James, can you please help me out for a moment?
I don't owe nobody anything.
Infact, I got scammed for $1500.
I signed with an agency 3 months on $1500/mo monthly.
I stopped after month 1 and realized he's a scammer. So I told him I don't want none of it anymore and won't pay a penny more.
He threatened with going to small claims court. 2 months ago, somehow he contacted me again now saying "don't think I forgot about you, I signed with a debt collector to get you"
So the OG number is $3000 for 2 months. but he's saying that I owe him from August to Jan so $10000 if not more...
Heres the thing: 1) the contract I signed only has my first name 2) He sent th3 small claims court to a false address cuz he didn't have my real address.
My question is: Should I be worried? Can he keep increasing my debt like that and eventually get the law involved to seize my possessions?
the statute of limitations usually is around 4 to 7 years depending on the state and amount of the debt ...if you reset that by admitting to it or paying a minimal amount for whatever reason you will reset that statute of limitations and you will have that on your credit report for another 4 to 7 years and if they want to sue you, they can again.
6 years in australia
Depends on the debt though. If it's to the government for example, the limitations may be much longer like 10 years (but then again, the IRS will never call you either, but I think before it gets to that point, the government can start garnishing wages if you have backtaxes that are in collections).
@@HR-wd6cw government department debt, dont fuck with them, civil debt form creditors and telecom provider, fuck them over
I appreciate your willingness to do the extra work. This is a responsible task, but we have no doubt that a credit fixer like you will get our done *Solvency backdoors* your hard work has proved that this job was destined for you. You have made me realize that I made the right decision by delegating it to you. Well done
Their name is spelt as *solvency backdoors* & are committed to getting dead credit and finance back in track.
I’m glad to be fortunate enough to get to know their name and looked it up online.
*You also need to look their name up to see their website.*
The method yt videos teaches isn’t really working for fixing your credit and getting rid of negative items off your reports.. *Solvency backdoors* is the solution to all bad credit reports, negative items & finance problems 👌 their name is spelt as *solvency backdoors*
All you also have to do is to look their name up like I did to see their website online
Had a debt collector call me up and I agreed to pay $20 a month or something like that to pay off a debt. It still would have been paid off in less then a year and they tried to tell me I needed to pay it off faster to help my credit score out and told me to narrow the money to pay it off. At that point I refused to pay it.
You are a thief. You borrowed money and refused to pay.
@pigospin I didn't be barrow any money. I got Comcast hooked up back in 2012 and they didn't give me the right boxes. I wanted a DVR in my room and they have it to my roommate who had an HDTV and then told me I couldn't get a DVR because they had an HDTV and mine and the living room was an old style big TV. Then that same month (January) when I tried to order the Royal Rumble and went to the actual store and ordered it when I went to try to deal with a box situation, the night of the Royal Rumble it did not happen on our box but rather to the HDTV up in their room and they have to be up at 3:00 a.m. to go make donuts so we couldn't go to their room and watch it. They said because there was an HDTV it will not let us get pay-per-views on the standard television, as I even tried ordering from the cable box before I called them. They said that they would cancel the pay-per-views I wouldn't get billed for it. Then when my first month's bill came in it was $300 and some dollars over what the bill was supposed as we were supposed to be getting a deal with a box, internet routers and the DVR for about $120. As they charge us for the self-installation kit which I already paid for when I picked up the boxes but they were also in charging us for having someone come out and install it. On top of that we also got charged for the Pay-Per-View. I called them up and they told me that they would correct the bill.
After 2 weeks no bill ever showed up and I gave him a call back. No changes were made and they don't see a note about any of this stuff and told me I basically just had to pay it. We oh my God the service for a little over a month and I told him that they needed to come pick up their boxes because we were going to go elsewhere. When they showed up they took the HD box and the router but refused to take the other two boxes saying that it was not showing as in their system. When they sent me my final bill statement though they were charging me for unreturned equipment which featured two internet routers, when we only had one and they had already picked it up. 2 HD boxes, which we only had one and they picked it up. And the 2 standard boxes that I had and they refused to take because it said it wasn't in their system. We went to go with the bill, that's what they gave us for picking up the HD box and router originally, and the boxes to the physical location but once again they refused to take the boxes.
A couple weeks later we got another bill from Comcast thinking finally they fixed the bill. But they billed us for another month. We called the same old story telling us that we just had to pay it and it was over $600 for about maybe 5 or 6 weeks worth of service. Not to mention I had already paid for the self-installation kits and even paid about $120 for the first month's bill. This was never reflected. About a week and a half later we got a message from debt collections on behalf of Comcast for $680.
I actually got advised NOT to pay the bill as this lady had worked as a financial aid. She stated it is actually illegal for a debt collector to deny any form of payment. Furthermore once it goes to debt collections it cannot do any more damage to your credit score and any damage that could be given is has already been done. I was told not to feel threatened if they take it to court because if they did push to take it to court and since I had all that information on me I could probably get the charges erased in court. They never pursued it.
@@pigospin and you are a thread necro, replying to an 8 month old post
My experience. My hell hound collector said “well you shouldn’t have charged it if you didn’t plan to repay”. We paid them thousands and thousands of dollars. I told him, we have repaid anything that we bought, 100x times over, mainly interest . We were out of work. Suddenly. I told him, you know, someday you may be in our situation. A couple months later, AMX did a MASSIVE layoff. It may sound mean, but I hope he was in our shoes. .
The interest rate that you agreed to pay is no one's responsibility but yours. Most financially responsible people have a savings to use when unforeseen circumstances occur. They don't buy new cars, boats, motorcycles or RVs until they have a nest egg built up. Blaming the collector is absurd.
@@Littlebigbot most people in the usa have no money, if you have a money put by for unforseen circumstances then you are one of the minority of americans who have. consider yourself very lucky and try not to be so judgemental of your less fortunate fellow countrymen.
@@Littlebigbot Are you blind with the inflation going on? People are needing to choose to pay mortgage and food over credit cards. Your statement doesn't hold water here.
Many many years ago, My brother received a phone call from a debt collector. He told them that He put every debtors name in a hat, and when he pulled out just one name, he stated it wasn’t your company. Hopefully your name will come up in the next drawing. Not how I would have handled it, however I guess he was tired of the constant phone calls.
It’s actually pretty smart
The best way to handle a debt collector? 1) Do not answer a call from an unfamiliar number. 2) No voicemail? Then block the number. 3) Credit score? Take a break. It's what got you in trouble in the first place. Nothing personal. It's how the game is played.
Best comment I’ve ever read 😂 this is amazing
I’ve been doing all of that. The statue of limitation’s for meat is in four months, but Bank of America did initiate a lawsuit for me. If a lawsuit is initiated by the original creditor, what’s your best recommendation? Because from what I understand if they win a judgment by default if I don’t do anything, they could levy my bank account and my car.I am 1099 so they can’t garnish my wages
@@Susanagatikahow much debt?
@@rawkingkong 10k
i dont need credit the reason i got fked is using credit cards. just pay cash from now or dont buy
A debt collector called my job and I don't know what happened but two weeks later the collection was no longer on my credit report
They seized your bank?
That's odd if it was actually on your report because it doesn't go away just because they get paid off. If it was just someone claiming a debt was on your credit report and you pulled your credit report and it wasn't there you probably had a scammer phishing for money.
@@ImadZeryouh no
@@theyaden I check my report daily. The collection was from an apartment I rented. they tried to come up with some bogus fees and it was on my report for 5 years
Your job might have called the authorities on them or threatened a lawsuit for you to keep their phone lines open.
I knew the day would come when I never have to pay another bill again! Thank you!
haahhaahahahahahahaa facts
@@leavemealone5602Only if you have zero income, because they can garnish your wages.
So giddy about being a deadbeat. Wow. I could never live my life like that. I have too much self respect.
@@Littlebigbotyou have too much pride, that's what you have
@@Littlebigbotyou realize it's just numbers on a computer screen that they loan out at Shyster interests rates, right? Maybe try to not be such a slave to these institutions.
Great video! The young woman who did this was very pleasant and a pleasure to listen to as she explained everything. Thank you for sharing.
Good Video. Another thing people in bad debt should not consider doing, is falling for the ads on tv and radio from companies that say if you are in bad credit card debit, you could owe far less because there are secrets the Credit Card companies don’t want you to know. It’s All BS! There are no secrets! They just take your money and tank your score anyway. Your better off listening to this girl and try to negotiate your self. Or if it’s that bad. Calm BK. suck it up for 7 years and start over.
Was dumb, bought house at 20, every year mortgage went up, through taxes, or loan fee increase, whatever. Tried to sell, couldn’t. Thought foreclosure would ruin me forever. Turns out I was paying extra 500 a month for insurance in case I defaulted. Part of why it went up every year.
Lost home, but
All debts on it were paid. Apparently that was the intent of lender in first place.
Never went against my credit.
The last thing I ever feel about my debts is to feel guilty.
Same
Yep, especially when you paid more interest than you borrowed in the first place. They got their money back.
@mr.frandy7692 actually, in my case I didn't. I simply stopped paying and they couldn't do anything. They tried to bombard me with emails and collection agencies but when they saw that I knew the law and they couldn't get it from me, they left.
Thank you for this wisdom!!
@@mr.frandy7692 if you don’t pay your bills you’re not paying interest are you. 🤔
I pay Lexington Law to help me deal with debt collectors and the credit bureaus. Now I’m on my way to rebuilding my credit and am already 90% there. By the end of this year, maybe even sooner, all my negative debts will be removed. LEARN/KNOW your rights !!!
Did u wait the 7 years or ?
@@Monztuh This year is 7 years
Lexington didnt do me any good but they took more money from me then my debt was
They are a scam. I've had clients try to use them and it didn't help.
If the government gets bailed out all the time why can’t we Ima start bailing myself out of this debt fr . Thanks for the video !!!
Mortgages, credit cards... you forgot medical care providers like hospitals.
In America we have a thing called a statute of limitations. It ranges between 2 to 7 years and varies by state. It's a gamble, but the odds are likely the debt collector won't file in court. They'll just sell the debt to another debt collector will then try to call you again. Once you have waited the debt out to the statute of limitations under state law you can tell the debt collector to pound sand because the debt is uncollectable under the law. As the video says, don't admit to the debt, but do find out when the debt was originally created. I had a family member pass because of cancer several years ago. They were insolvent. I was listed as the executor of their estate. They didn't care my family member was decreased. When I discovered the age of the debt and the statute of limitations was expired I told the debt collector they weren't getting money based on that. They stopped calling. A few debts were sold to another debt collector, but they eventually got the message and stopped calling and sending demand letters.
If you do not get a validation letter from them within the first 5 days of contact, you can show that to the court, as its illegal to request it without proper paperwork. This is in Canada, check your laws all the time and make sure you overpower them.
What if they send you back the validation letter? I’m stuck on what to do next. The dept collector is intimidating.
@@Clari022384 That's when you either pay up, negotiate a payment plan or get an attorney involved. If the validation letter contains the correct information, you owe the money and you'll probably wind up paying, either via a court ordered garnishment or voluntarily. A good attorney should be able to find the best option.
@@Clari022384 did you take out the loan?
Following
What did you do? Did you write back?
@@Clari022384
I got a summons to appear in court on January 16 . I made an agreement for monthly payments that I can't afford to pay. But Discover would not go any lower than $273. A month we are in our 70s and on social security. We owe $4779.23
Just remember, that they can't garnish your SS payment!! There is a website called HELPS & they have some really good info in their videos. I think that they would be really helpful for you.
Just tell them you can't afford it. Send them a check and they will probably cash it. Or just don't pay them period. It really depends on your situation.
Had a credit card company lie to me & screw me but they never considered that id be recording them. Lawyer told me i have enough that if they took me to court id win so to tell them to F off & not pay them
Brilliant, comprehensive information, thanks Gentle Lady, be well...
Simple. Don't respond to them. No letters, no phone calls nothing. In the unlikely situation one does sue, don't panic. Contact an attorney who will have the case thrown out of court. The lawyer's fee will certainly be less than the amount plus add-ons the collector is demanding. Hint: lawyers will take payments and your first consultation is free.
Just simply pay ur debt, u used the money tho
Had, did collections for a good decade. Only ever lost a case once.
If you’re going to pay a lawyer you might as well just pay the debt. This advice is ridiculous, unless you’re a lawyer.
@@MrRichgounder1969 The attorney's fee is less than the debt. Plus the debt is on your credit. The collection agency bought the debt for pennies on the dollar. Eff collection agencies. Go on and sue me. You won't come out ahead.
Or you can be a grown adult and actually pay your bills.
When you are able to negotiate a lower debt amount, why is it that they can take the difference between what you owe vs what you settle on and turn it into the IRS 1099 as income?
Because they feel you got free money and that money is considered income so now you have to pay tax on income
You can file a get this canceled out
The lender isn’t making that decision. The govt/IRS is.
They forgave part of the debt and are legally required to report that on a 1099
Because it's income.
@@money4retirement Yes debt reduction is considered income in tax code.
You can negotiate. I have negotiated debt that I inherited, successful every time. They will usually take pennies on the dollar.
How do you inherit debt?
@tanyaredfield when a relative dies and you are an executor. You have to settle their estate.
Good advice. I can confirm some of it
Very helpful and informative video.
How do you find out if your debt has been sold or the agency has been hired by the originator ?
I took a class business law in 1993 and when they called me I said your actions are illegal actions is a crime.
The 1 thing I noticed that you Didnt mention was the fact that Seniors Dont Need To Pay Off Their debts if they are living off of their Social Security and they fall below or on the line of Poverty. I think this topic would be helpful to those Seniors in this position.
I was helped by the team at HELPS and if a senior has come across this video and you need help with your debt, then you should contact HELPS if this team on this video cannot help you out.
Why would it be OK for someone not to pay off their debt? That’s the same as stealing, even if they’re seniors.
@@canonrebel626 because people these days feel entitled and are free loaders.
@canonrebel626 people on ssi and disability cannot be sued with many state laws.
My brother successfully sued a debt collection agency twice at 2 different times for 10G …..😂😂😂😂😂. After the 2ond time they didn’t try to contact him anymore 😂😂😂. The first time they didn’t learn their lesson….They wanted 30 G and ended up up paying him 20G 😂😂😂😂😂. The debt was almost 30 years old….He eventually went to court and the debt was written off. 😂😂
Thanks debt collectors For your generosity.😂😂😂
How did he go about this ?
@@strongtv_creator He had to go to court numerous times over the years and he had a pit Bull attorney help him…..He just got postponement after post ponement until finally one day he got older and was on disability…..And the judges got tired of dealing with it and tossed the whole thing out because they said it was becoming a nuisance and costing the court system more money than it was worth😂. But them nasty debt collectors got taken to court twice for harassment and sued twice and paid dearly 😂
@@bluemoon2934 thanks for responding see I had a kidney stone and went to the ER now they charge me 15k I know I have time till it hits my credit I’m trying so hard to figure out what to do… I’ve been working on my credit for a long time and life happens now it’s a chance my credit score will drop!! Them court dates cost though I bet ? Thanks again 🙏
@@bluemoon2934 sweet man!!!
@@strongtv_creator And on top of all that he used credit cards to pay the attorney and then when all was said and done ,he filed for bankruptcy and never had to pay off the credit cards 😂😂😂😂😂.
Please watch this video to the end. I see in the comments some folks who have the impression they no longer have to repay their debts. I don't think that is the message this video was meant to send, as that is truly terrible advice. Although this comments section is full of misconceptions and terrible advice, the video is simply stating to do your due diligence before you pay it, should it be a debt you rightfully owe. Overall, mostly accurate and informative.
I'm in debt with discover card from back in 2020 fast forward to 2023 after hundreds of collector calls this guy shows up at my door tells me his name and "servers me" with "court papers" I tell him thanks but get off my property don't come back. The next day I go to my local court house as the papers said I was going to be sued and the local court was 5 minutes away.....so I inquire about the papers and the court tells me the papers are false and there's never been any case against me...they continue by saying if you get anymore of these papers ignore them unless you hear directly from us....since then I've been mailed multiple "court day " papers and all turned to be fake....now I just block collector n I mbers and toss any additional " court papers"
Holy cow! The audacity of some people. This is harassment!
they think when you see your getting dragged to court, that you will call to strike a deal to start paying
Ever consider living up to your debt obligations?
the guy who served the court papers is a "Sheriff"?
@@LittlebigbotEver lost significant income or became disabled!!??? 🤔
I'm really grateful that I came across your video. I've actually been sued by the biggest Junk Debt collectors (Midland Credit Management) and am representing myself Pro Se. I have trial the 29th. The scare tactics are so offensive and unnecessary... you nailed that point. I think outta probably 120 people started out at the beginning that were there thru the same Law Firm representing MCM. I did a lot of research and found out. There were multiple federal cases against Midland. I also had kept in contact with the law firm going on three years now, and have not been able to come to a settlement agreement. Multiple times I was told by the law firm and the debt collector that my debt was purchased for the full amount and that is what they were asking for. I said that I would give them 10% of what they bought my debt for... I was immediately shut down and told that they would take a payment plan for me of $50 a month for about the next three years😂😂😂... luckily, I did my research like I said, and as you stated in your video after seven years, your credit clears. And if I even started one payment, it would reset the clock like you had also stated... very very valuable information and I just wanna say thank you.
I commend you for your honest wealth of knowledge on this subject, and I am incredibly grateful! ❤❤❤
Oh joy. I’m hearing from them currently.
Tell them you don't believe the debt is yours.. in fact write them a letter I think it explains in this video ....or use the harassment thing...I'm going to trial with the law firm they've hired ... is mcm just contacting you or did they hire kohn law firm
@@SpecialKAY421 they haven’t hired anyone for this one… yet
@@gtcam723how things go
@@SpecialKAY421 how did the court case go?
Thank you for the data!!!
I answer my phone with my business name. When they ask to speak with me, I ask if iI can take a message. They usually say that it’s a personal matter. Which then I reply, “If it’s a personal matter, then you’ll have to contact them on their personal line and on personal time”. “Do you have their personal number?” “I am sorry, I’m not allowed to give that out. Have a nice day.” This has happened twice and I haven’t heard anything for months.
😂 love that one
Not only is this good advice, you are adoreable.
The most important thing to remember is that if your debt has gone to a collection agency , paying them is the equivalent of throwing your money out the window. Your credit score can NOT be fixed by paying off your debt to a collection agency, even if they tell you that it will ...It is one of those lies that they will all tell you. If the debt has been sold to a collection agency your credit score will be damaged. The quickest way to repair your credit score is to pay off your monthly credit card early every month and pay it completely. In a relatively short time they will cancel each other out and your credit score will go up.
Don't be stupid. If your debt has gone to a collection agency, it is ancient history.
What if you dont have any credit? Will it hurt me when I establish credit and build it?
@@motion2597 It's good to have credit if you want to rent and apartment or buy a car and make payments.
i am on the other side.... i am a welding business trying to get paid over 3000$ from a customer who has ghosted us, wont answer calls, emails, or texts. We've sent it to collections.
I had an agency contact me by mail a couple months ago trying to collect on a 20 year old debt . Never answer the phone when it isn't a number in your contacts. After a few minutes call the number back and get the company name and type of company with out telling them who you are . Block the number. You can also return any mail to them by telling the post office it is a scam letter, the post office has a bundle is what they call it . Never heard from them again.
Pretty much all you can do is ignore them . They can’t actually take you to court since the statute of limitations is up . They’re calling me nine years after the statue of limitations ran out. I just ignore them. They can ask for the rest of your life. They just can’t take it to court once the statue is up and if they do you just bring up the statute of limitations for your state.
I have a $2500 line of credit debt, which I could pay off but not at the rate of auto debiting $200 out of every paycheck and they won't renegotiate. Thinking of letting it go to collections and negotiating with the collectors for a lower payment. Worked with Visa, pay $17 every two weeks.
And ruining your credit in the process? Don't do it. Bad credit will make you a bottom feeder.
@@Littlebigbot Credit already shot to crap, just need groceries at this point
Have some honour's and pay what you took. Unless u r a thief
@pigospin Just looking for a way not to pay it in one big chunk
I'm not a lawyer. I heard this advice from another person on UA-cam to answer the phone and ask them what is the nature of your call and then request that the call continues without recording. And most times they'll hang up because they want this call recorded because they want to get you verbally, legally bound to that debt. Your debt is with the original company and you, as a contract, if you think about contracts. Not this collection company, so by using this technique, they can't get you to verbally acknowledge to a new contract, basically, with them, with a debt collector.
That was actually very impressive. Thank you for this video!
In my younger years in my first go around with credit, things went to debt collectors and eventually just disappeared over time. Then later in a life (just in the last couple of years), I lost my wife, and had huge financial strain, and had to let my credit cards go because I couldn't afford to keep up with payments and take care of my kids at the same time. They went to collection but then something happened that was different than before. I was served not once, but twice court orders to repay. I had no choice at this point because I was remarried and had the income to pay, and will be for several years from now.
HOW TO ACTUALLY GET BAD MARKS OFF YOUR CREDIT REPORT
you send them a certified letter demanding an agreement to payoff terms, and demanding that once you pay them off they WILL remove the marks from your report within 30 days. when you get the agrement letter back agreeing to the terms, THEN pay them...if they dont remove the bad marks after 30 days...DISPUTE the bad marks and send copies of the promise letter of debt paid off that you got back from the debtors to the 3 agencies and BAM!! bad marks off...100% Guaranteed EVERY time....THIS is what all those credit repair people wanna charge you 300 bucks to learn.....your welcome.
There is no law that says they must completely remove it from your credit report, but they must correct the report and make a 0 balance owing. That still is on your report.
@@kenm6049 i made them remove mine i told them remove or no money, and they removed it
@kenm6049 i settled a collection with it being completely deleted from my account 4 years ago. So idk who told you this but you can in fact have it removed from your credit report upon paying them. However like the OP said you have to get that in writing till this day I still have may deletion letter settlement with me just in case.
@@kenm6049they just have to abide by the written agreement.
bad advise. You don't even need to pay them back anything, don't deal with them, they are all scammers, lending you nonexistent money and demanding hard cash or property back.
What’s the difference between a debt going to collections vrs an agency saying they bought your debt and they want to collect?
Shaggy said it best. “Wasn’t me”.
What about hiring a credit relief agency to take care of the debt for you do you think it’s a good idea?
what if you cannot afford to pay anything on it?
Number one...NEVER admit that you OWE that money. The only thing I've said was 'sounds like identity theft to me.'
I've had debt collectors calling me for 20 years looking for the wrong guy. I told them many times I'm not the person they are looking for.
Every time I have gotten a new phone number I seem to spend months dealing with these calls. Hope I never have to change numbers again.
Great information. But the first thing i hear on the phone is " This call is bring recorded, and then they ask me to verify my name.
So what about that information?
I just blocked their number until they stopped calling.
Once, I told them that the person who had my number before me died in an accident. I inherited their phone... they hung up on me.
hello, thanks for the great presentation, my question is, Can I ask debt collector how much did they buy the debt for?
When they phone you say to them politely I'll talk to you on an unrecorded phone line , this stops them contracting with you
IF you talk to them, let them know that you are recording the phone call from your end. They don't like that one bit, and usually end the call.
I already set up an auto payment for the debt, how can I stop it?
How is selling debt even legal??
'Merica......
Our government does it every day to our dollars in the form of selling bonds to other countries like China
It is usually in the original contract that it can be sold
When you decide not to pay it when the original creditors and ignored the original creditors mail and phone calls. Debt collectors don't exist if people pay their bills it's not a hard concept.
@@bananathebadguywilliams4868Shit happens. Stop simping for scummy corporations.
We lost a baby years ago in the middle of the pregnancy, and the hospital boggled some stuff afterwards that could have made it much more difficult for me to successfully have another baby later. To add insult to injury, about 2 years later a collection agency called my husband at his job...we had moved away by then....and told him we had thousands in unpaid hospital bills that we had never once been sent a bill for. I gave my husband a list of the mistakes they made and he called them back and said that first, the bill was too old to be collected and we had never been informed of the debt, amd second, if they wanted to push it we would be consulting a lawyer about x, y, and z that they had failed to do. We never heard from anyone about it again.
In retrospect we should have consulted a lawyer when it happened but we were too emotionally drained to deal with anything more.
If a third party buys an alleged debt, you do not owe the debt collector a cent. Only communicate thru the mail. When they file....you file on the collector. You subpoena 1.....the valid hard copy contract between you and the debt collector.....they don't have a contract. A corporation can only interact with another corporation thru a contract. 2.....supeona a certified full forensic audit in accordance with international accounting standards. The audit will show there is no debt. They won't let go that far. Tell the debt collector to remove any info they placed on any credit bureau
Did tik Tok university teach u that?
This is all factually incorrect.
@@bananathebadguywilliams4868 They obviously read it on the Internet somewhere so it must be true
@toddrunyon it's always funny. People don't know the fdcpa laws, and it shows that a lot of people, especially in the comment sections, don't read the fine print on anything because the fine print will tell them this.
We have a debt that disappeared when purchased by another company ( the new company did not automatically take payment from our checking account). We were contacted by the collection company that they wanted to settle pennies on the dollar. We could not do anything at that time. They took $3500 then $1500 out of our checking account without our permission. Also, I have no collection on my credit report. Is it legal what they did?
I had a debt collector call my work!😮😮boy did my employer give them an earfull!😂😂😂😂
sounds like a company id like to work for
#1 go on line to the Federal Trade Commission the information is excellent. It will tell you how to file law suits against the debt collector companies that harras or even make threats, record the conversation and document and then present it to s attorney to flie a law suit.
But read the all the information in the Federal Trade Commission.
Does the clock reset if your debt is sold to a different company?
No because that is not considered the date of last activity. Making a payment toward it does however because that becomes the date of last activity.
I had a credit card that I paid off haven’t had it since 1998 , and I still have it on my collection. Tell them to send you a letter.
This is a reason why I have to pay insane interest rates with a 775 credit score. PAY YOUR BILLS!!!
Nah, that's because of the insane amount of fake money Washington keeps borrowing from the fed.
Yes you're exactly right because it's just little people who charge you that extreme rate don't blame the company whatsoever.. every company out there is screwing us because they are allowed to stop blaming people who don't have money and blame the people who have it all but care not to share
liar
I was scammed, it does happen to some.
I had 747 credit. I bought a bed and my credit score went down 100 points so what's the purpose ? I busted my butt and it's gone.
Surprised A 'Pay To Delete' letter being apart of the Collection negotiation was not mentioned in this video...
I had a friend who worked for a debt collection company. She explained all the rules they had to follow to me. I had a collector call me and the guy started yelling at me and telling me i needed to go pawn my stuff so i could pay him. I started laughing at the guy which made him even madder. I knew from what my friend had told me that his behavior totally wiped out the debt. Good times... 😅
How did his behavior wipe out the debt?
@@nonmups9973it’s illegal to threaten someone and tell them what they have to do. The phone calls are recorded and you find a civil litigation lawyer to sue the company. You can record your conversation with a debt collector too. You just have to let them know and ask if they agree to it. If they don’t then you can further force them to remove the debt.
You are a thief. Horrible person for taking someone else money. Pay what you borrowed. How do you think inflation occur?
After 4 yrs , ca , statue of limitations has expired , collections cannot sue me anymore but can , still call and ask me to pay ? But I am not obligated to pay
Thxs
How do you deal with the ones threatening legal action?
Sue them for a FDCPA violation. It is illegal for them to do that
@@ewkabel Yes an agency can advise you, BUT NOT THREATEN, if there is no payment or payment arrangement it most certainly can lead to a garnishment or lien on any assets that you may have. This is not against FDCPA
I dont worry about my credit report 7 years from now or my dept falling off ill be dead by then im old what are they going to do dig me up
I just got a letter telling me they sold my debt. Then sent an email wanting my new phone number. I have no way to pay this money to this company. The interest was outragous and payments went up every month and i just could not afford it.
I got a collection letter and they have messeged me, about my car insurance i used to have. Didnt pay the last month because it wouldve renewed and they would increase payment for the next month. Because of it they want me to pay 258. mind you i used to pay 456 monthly. They wanted me to pay 706.
Some will scare you by saying they’ll take you to court.
I have a lawsuit next month from a credit card debt. I’m worried. On retirement now
@@lauriefortier4210contact an attorney. Check with your local or county government or legal aid society to see if there is any legal help available for low income seniors.
@@lauriefortier4210They can’t do anything to you. Unless it’s a student loan or taxes, you’re good.
@gasmith7486 not true. Some states passed a law where dept collector's can take you to court.
Not true. Just got sued from a debt collector. They can garnish 25% of your wages here in VA. Put a lien on your house. Levy your bank account. Have the sheriff's dept sell your property to get the money.@@gasmith7486
Had one try after 15 years, that is way beyond the statute of limitations
I’m not paying unless it’s court ordered, they’ve been trying to contact me for years at this point so maybe it’s not worth the money to go to court. Either way, nope.
So I’ve been getting called for a 759. Dollar debt and got pre legal notification should I just ignore until it’s court ordered if it gets to that point ?
Will it affect your credit score
@@gilbertzavala863 if it is debt collectors who call you just tell them that you don't have any written contract with them and therefore they are illegal entity who don't have right to contact you and demand anything from you. It worked in my case. Courts are actually also unlawful. It is all a big game rigged. They "lend" you nonexistent money (which they don't have) just by typing numbers on a keyboard(which is lying to you, scamming you) but then demand you to pay them back with your property. This is ultimate form of scam. The WHOLE financial system is based on this scam but people think it is lawful and normal. Try to find and read "sovereign citizen" and "strawman" materials, they teach how to avoid those traps.
@@gilbertzavala863 .. they will take it to court and garnish your wages if you're working. My husband is in garnishment for a medical bill he created because the hospital filed his insurance wrong, never told him, showed up three to five years later with a letter in the mailbox saying he was being sued and that they'd be seeking garnishment.. next thing we know, a paycheck or two later.. bam.. garnishment. We'll be dealing with that for six months all because the fault of the hospital screwed up.
I was set up on a hardship case with one of my creditors. They set up a much lower monthly amount and no late charges, even if I missed payments. Well, I missed several because I struggled even with that lower monthly amount. So, recently, they turned it over to their collections. I talked to a rep there. She was so sweet and understanding, and offered me a settlement of 2/3 less than the total. I was so happy, I put down half of the amount right then and there, with the promise to pay the other half in July (she let skip a month due to a pre-existing situation). I will call her and pay that other half as I said I would. She saved me $93!🙏🏼💕
Can you negotiate with a collector and make sure it doesn’t affect your credit score? If so, how?
It's simple, do not answer the call if you do not recognize the number. They have you with hello . Negotiate, what and why .
Yes you can…new laws that were passed by Congress….collection agencies cannot place on an individual’s credit report until 1 year after the DOR… DOR being the date the original creditor place with the agency. So you can set up a payment arrangement to pay off before it reports.
Get it in writing the the best way. That way you have proof and a paper trail.
No one needs to worry about debt collectors. Because they don't have any right by law to demand anything from you. Why? Study the law about this. It is unlawful to demand anything from a person unless you have a mutually signed written contract with them. You can always tell collectors that since you don't have a contract with them, they are illegal entity and you request them to cease and desist. They will do just that because they know this law. It is just people don't know it. The whole world financial lending system is based on this scam. They "lend" you money that they don't even have, simply typing numbers on computer screen. Even most banks do not have a hard cash assets nowadays. Did you know that? Surprise! :))) Yes., they don't have real money but pretend to lend you money they don't have, by lying to you. Then, if you didn't pay them back their "painted money", they try to take a real cash and property from you. It is just a modern age robbery and pillage without weapons and spilling physical blood. Study "strawman" and "sovereign citizen", they teach a lot about it. I personally managed to stop debt agencies on their track and even billing companies from chasing me, due to knowing these matters and dealing with them accordingly.
@meagon177 there are some who will send you a full and final settlement email or letter saying what you agreed to pay in that letter. I know that some will delete it off your credit after that settle with an account finalization letter stating that the payment was made in full.
Good information, any tips on what to do if your being taken to court?
Once dept gone to collections, and if I want to settle, should I be working with the collection agency or creditor to get the remark removed from records?
Before you pay get written they will remove. We get those removed without paying with my attys
Help what route did you go? Did you talk to creditors or collections? Did it affect your credit score?
As soon as I responded with I have a lawsuit with Verizon and now with the debt collection company they hung up and said we can’t speak to you.
Good, so u stop stealing and pay your debt
If a debt shows on your report closed and charged off can it later update to be shown sent to collections and further damage your score?
Yes the best thing is to negotiate with the debt collector
How about to offer a 20% of the account to settle?
What type settlement agreement must be made before the money is paid?
Thank you
William
I was paying the hospital every month and still sent it collection? WTH? Not one month skipped. Now I wish I didn’t pay anything
Same here except I stopped paying because it was bogus. On top of EMS bill that I refuse to pay. They sent it to a collections agency and demand payment. I block numbers and I dont interact with mail. They really cant do shit about it. All they can do is sell it off to another agency or write it off. Screw em. I dont even make enough to live let alone 3k to pay lmao
@@Paladin_Green you did right. I did the same years ago when contacted by collectors after defaulting on personal loan. I told them they didnt' have right to contact me due to the absence of mutually signed contract between them and me. This means their demands are unlawful. When I said this to them, they stopped and desisted.
most of them are fraudsters, they "lend" you money which they don't even possess (they just type numbers on computer screen, its a scam!) and then demand you pay them back with cash or property. This is s finansial system scam that operates in the whole world today. I stopped debt collectors by telling them to f* off because I never had any mutually signed contract with them, which meant any of their demands were unlawful. After I told them this, they disappeared for good. It was years ago.
@@Paladin_Green Well.. that's what you think.. my husband's wages are being garnished. So be ready for that.. it may not be today or next week or even next month or next year.. it took them three to five years to finally decide to sue my husband. They won and he's now being garnished for six months til it's paid off... and it wasn't even his fault. It was the fault of the hospital for filing his insurance wrong, not doing anything about it or refiling it or even telling us until we got word that we were being sued all these years later. So don't laugh now b/c I promise you that they'll have the last laugh.
How do you know how long the statue of limitations is?
very nice gal am awareof most of this she dint talk about seniors and debt proctetion
I just got a letter with a sheriff stamp on the top of the letter and there talking about putting a levied on my bank account I will never co sign for anybody again
Too late I paid it in full
About about 25 years ago. I was called on by a law firm to pay off a debt. They wanted access to my checking account. At that time I did not have the knowledge to say no. After the first payment was taken out another was taken out and my back account was bouncing. I contacted my bank and was able to change my account. I then sent the law firm a certified letter saying they are no longer going to have any access to my account and I have sent a complaint to the BAR association in the state they were in and then told them there will be check writing fee for each check I mailed to them. In the letter I also had said that cashing the check would say they were in agreement to the deal. They cashed the check and did not read the letter. That can of worms was fixed. Needless to say. I was able to pay a lot less them what was owed.
Wow! Thank you so much!
How’s it work if no income cuz waiting for disability to get approved and get medical bill even though at time u had Medicaid?
I just had about 20k pop up on collections on my credit report when I go to my credit card apps. Man I know I’m probably going to end up with over 100k in medical bills due to me being in the hospital for over 11 months.
Medical debt is unlike other debt
You know, I’ve heard mixed reviews on medical bills if they don’t go on your credit but then from others, I heard if they do, I did get my taxes, state taxes, anyway garnished for owing the hospital soooo.. that gave me my answer that they do go on your background, HOWEVER…. As far As Recently I thought I read something about medical bills NOT going on credit reports I don’t know what state you’re in, but you might want to check into that?..
@@SpecialKAY421 I’m from Texas
@@SpecialKAY421in Florida medical debt goes into collections and added to your credit report. For the first time ever I have medical debt on my report.
This sounds too good be true. If I can’t pay my debts, how can I afford an attorney?