Can a collection agency ornament My Wages?

Revoke Power Of Attorney Letter - Can a collection agency ornament My Wages?

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From what my clients have told me, this threat occurs with great frequency. The typical scenario is that the personel has defaulted on a reputation account. The original creditor, be it Citibank or Capital One or whomever, fails in its attempts to get the defaulting personel to pay. The individual's debt is now referred to as "bad debt". Many times, the original creditor will simply give up and sell the "bad debt" to an outside company, such as a variety agency, for pennies on the dollar, sometimes even less.

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Revoke Power Of Attorney Letter

The variety division then attempts to accumulate on the bad debt to make good on its investment. Initially, there may be a phone call or two, and then a letter from the division to the individual. If the account is not immediately paid in full, some variety agencies turns their efforts up a notch or three, and begin to make threats to the individual.

The most base threat is that the individual's wages will be garnished. Often times, the division will tell the personel that the wages will be garnished "next week" if the account is not paid in full, or, in the alternative, if a colossal payment is not made on the account. If this occurs to you it may truly be a good thing because the debt accumulator will have just violated the Fair Debt variety Practices Act. The Fair Debt variety Practices Act is a federal law that regulates and mandates what a debt accumulator may do in its attempts to accumulate on a monetary debt. In my experience, I have found that many debt variety agencies violate this law on a daily basis.

I can say with certainty that there is no law in the land that allows a creditor such as a variety division to ornamentation your wages without due process of law. Due process, in a nutshell, is the ideal that you must be allowed to present/defend your case in a court of law. Everyone is entitled to their day in court, no matter how open and shut the case may appear.

If a debt accumulator threatens to ornamentation your wages without the filing of a civil lawsuit, be sure to find out exactly who you are speaking to, what company they are with, their address and return phone number. Be sure to note the date and time of the call as well. Then, perceive a buyer Attorney in your area to begin formal proceedings against the debt collector. Under the Fair Debt variety Practices Act, you will be entitled to monetary damages and rescue of your attorney fees. In this regard, many buyer attorneys do not payment a retainer to originate one of these actions, or, they payment a small number and endeavor to recover the fees from the offending variety agency. If all goes well in your lawsuit, your debt will not have to be paid, you end up with a few bucks in your pocket, and your attorney fees are paid as well.

I hope you obtain new knowledge about Revoke Power Of Attorney Letter. Where you may offer easy use in your life. And most importantly, your reaction is passed about Revoke Power Of Attorney Letter.

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