You are here:

Collections Law/Bills beggining to go past due

Advertisement

Expert: Creditwrench - 3/27/2010


Question
Lost my job last year,picked up a new job making much less. Have been able to keep up with all my bills until this month 3/10. Been in contact with a DMP firm,(CCCS) and am thinking of joining,long term goal is to get out of debt.  One bill is now past due one month my other two are current.

Question is how far past due could one go before a legal claim is made against me from a creditor?

Answer

click here to enlarge
Above all, do not get tied up with any kind of DMP firm. If you get sued by a disgruntled creditor they will tell you they can't help you. They will tell you to go get a lawyer. Most also charge a hefty price for their supposed services. That's money you could be using to pay down your debts.

How far past due could one go before a legal claim is made against you? There is no telling. You might not ever get sued and then again they might sue quickly. Just depends on the company and whether they believe that you have enough resources to make it worthwhile or not. Too many factors involved to make any kind of educated guess. What you need to do first of all is to use all available cash to stay current to the best of your ability. You also need to understand that if a charge off occurs the lender will most likely sell the debt to a junk debt buyer and then it is up to them as to how to go about collecting the money from you. They will most likely start hounding you by phone. You need to learn how to deal with that so as not to get bugged to death. You can learn how to do that by visiting http://www.creditwrench.com/18questions.html and follow the instructions there. Listen to the recordings as well since they will help you understand how to use the 18 questions.  

Creditwrench

Expertise

Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.

Experience

I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.

Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.

©2012 About.com, a part of The New York Times Company. All rights reserved.