* Sale of Goods: 4
* Open Account: 5
* Written Contract: 10
* Sales (UCC) Contract: 4
* Money & Property:
o Domestic Judgment: 10 (revived every 10 years)
o Foreign Judgment: 10 (revived every 10 years)
BAD CHECK LAWS (CIVIL PENALTY)
Three times face amount owed plus attorney's fees.
A judgment if not renewed within the 10 years, then the judgment expires. If the collection agency wants to collect the dues, they will have to file a new judgment against you. Thus, the judgment has fallen off your credit report after the 10 year period.
Your personal details (name, email address and phone number) will be delivered to the company advertised on the Creditmagic after ve agreed to go for the counseling session by filling out the no-obligation form. However, it is your discretion to accept or reject their services.
Not all the creditors/debt collectors agree to trim down the outstanding balances, interests, and fees payable by the consumer.
Consumers working with the debt relief companies can still be sued by the creditors/collection agencies.
Debt relief services may have a diminishing effect on the creditworthiness of the consumer. The total outstanding balance may increase as the additional fees get accrued.
The overall amount saved by the consumer through the debt relief services is considered as taxable income by the IRS.