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another collection after judgement?

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kickers



Joined: 09 Dec 2008
kickers's page
Posts: 1



63 Magic Points

Subject: another collection after judgement?
 
Posted on Tue Dec 09, 2008 4:42 pm  

I had outstanding credit card balance and providian got another debt collerctor to try to settle account, we had an arbitrator and went to court they still put a judgement against me but i agreed to pay certain amount to this law firm but they were suppose to make it right with the credit people but didnt,anyway i had been making payments each month as i ask them to send me bill everymonth and they did for awhile ad for last few months no bill,,then another collection company is after me for the same debt. how can they do this after they already have judgement against me?
Mary

Mary

Joined: 06 Jul 2006
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Posts: 684



17424 Magic Points

 
Posted on Wed Dec 10, 2008 11:55 am  

Once a judgment is made against an outstanding debt, the creditor can withdraw money either from your wage (wage garnishment) or through garnishment of your bank account only upto the judgment amount. The creditor can transfer the right to collect the outstanding debt to another collection agency but that collection agency can collect only the outstanding judgment amount which you have not paid yet. You can simply send a debt validation letter to the collection agency to check whether they actually has the right to collect your debt.
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scott

scott

Joined: 28 Jun 2006
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Posts: 446



10890 Magic Points

 
Posted on Wed Dec 10, 2008 12:19 pm  

Yes, I too think that you should go for debt validation first. The new collection agency has to validate the debt within 30 days from the date of receipt of you letter. A proper debt validation would include a copy of the original debt agreement and the proof that the right to collect the debt has been transferred to the collection agency by the original creditor and the amount of the debt outstanding. If you find any discrepancy, you can always dispute it with the OC and the CA.
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SCOTT

Use your credit account responsibly and enjoy a debt free life.
Justin

Justin

Joined: 17 Jul 2006
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Posts: 1238



28944 Magic Points

 
Posted on Thu Dec 11, 2008 10:33 am  

Yes, a debt validation will help you find out whether you really owe the debt to the collection agency or not. If they can properly validate your debt then you can pay off the outstanding debt to the CA else you should not. This is because as far as I know, if the right to collect the debt is not transferred to the CA and you pay off the outstanding amount to the CA, you may need to pay it again to the original creditor. So debt validation is a must before you make any payment.
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Justin
fireyone



Joined: 26 Feb 2008
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Posts: 4246



123 Magic Points

 
Posted on Thu Dec 11, 2008 2:18 pm  

Once you recieve debt validation and only when you recieve it you could call the new collection agency about getting payment arrangements on this old debt. I can not stress enough not to do this until you have had the debt validated. Maybe this collector purchased the debt for less and may be willing to cut a better deal than the other place. It never hurts to ask or try. Let them know if they can validate the debt then you will make an honest effort to set up debt repayment and ask if they can take a debt settlement. If you don't ask it may not be offered.
Mary

Mary

Joined: 06 Jul 2006
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Posts: 684



17424 Magic Points

 
Posted on Fri Dec 12, 2008 11:46 am  

If you can properly negotiate with the collection agency for a discount on the outstanding amount, they generally agree to 60% to 80% of the outstanding amount to settle off your account. Even if they want to settle for 60% to 80%, you should make them agree to PFD agreement. What I think is that they can agree to such low amounts because they purchase the debt at 50% of the value.
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fireyone



Joined: 26 Feb 2008
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Posts: 4246



123 Magic Points

 
Posted on Fri Dec 12, 2008 11:58 am  

That is true unless the debt is really old then they may purchase it for pennies on the dollar. I believe this is how some can get settlements as low as 50% of the debt. The only dangerous part about that is if the debt is that old then it is usually past the SOL and you put yourself at risk by paying anything on the account. In scenarios like this it is best to not pay on the debt and wait for the 7 years to pass and then it will fall off.
debbies59
Guest






Subject: ?/
 
Posted on Tue Jan 06, 2009 3:09 am  

Not sure what everybody is talking about debt validation??? All i know is i have already gone last year for a debt that was about 5 years old for litigation and i have been paying a lawyers office a certain amount each month,,then they quit sending me bills and all of a sudden another lawyers office starts calling me telling me i owe this money for a judgemenjt that has already been taking by someone else,,how can they take a judgement out on something that already has a judgement on it???
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30054 Magic Points

 
Posted on Tue Jan 06, 2009 4:48 am  

Hi Debbies
If you have a judgment on an existing debt and you have been paying for the judgment, then you must have the bills which you have already paid. You can now find out the difference between the judgment amount and the amount you have already paid. Now if you have already paid for the judgment amount, you should bother about their calls. But if you find that the entire judgment amount has not been paid, you can contact the previous law firm to whom you have been paying the judgment money till now and find it out from them.
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Carol
fireyone



Joined: 26 Feb 2008
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Posts: 4246



123 Magic Points

 
Posted on Mon Jan 12, 2009 11:57 pm  

I would find those records or call the law office you were making payments to. Hopefully they can clear things up there.
Beverly Horner
Guest






Subject: fixed income
 
Posted on Sun Sep 20, 2009 5:05 pm  

I have entered into a debt management program. I know that I will probably be hounded by debt collectors. Can they take me to court and garnish my social security check?
hope
Guest






Subject: judgment
 
Posted on Fri Feb 19, 2010 5:15 pm  

there's a debt judgment against me thats sitting in my credit report. I think it's been there since 2004...how can i settle this or would this drop after 7 or 10 years? Please advise!!
Aaron

Aaron

Joined: 08 Feb 2010
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Posts: 2632



48565 Magic Points

Subject: judgment
 
Posted on Thu Feb 25, 2010 9:37 am  

Hi,

Your query has been answered to at http://www.creditmagic.org/judgment/debt-settle.html .

Feel free to ask, if you have any more queries.
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Narsingh
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Subject: YoMAftYaOYfRzLAeug
 
Posted on Sun Oct 28, 2012 8:14 pm  

I had a similar issue a few years ago .I filed with h and r block and did a RAL, the money didn't come in the 1-2 days so I got on the phone ..Turns out the feds took my money beaucse i had a School loan in default, it was a fed loan though ..Since then I have done a little research and from what I understand only federal or state agencies can touch your refund, not just anyone.
crorkz matz
Guest






Subject: gjNhGhDjDhvmJbziP
 
Posted on Wed Aug 06, 2014 12:11 am  

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