We can protect you from Junk Debt buyers such as NCO, MCM and Asset Acceptance or and other debt collector that buys old debt.

Junk Debt Buyers buy old or “zombie” debt and sue people with minimal proof or sometimes outside the Statute of Limitations. Debt buyers like Asset sue people with the expectation that the lawsuit will be ignored. Then a default is entered and the debt becomes new again. See our News Stories on “Zombie Debt.”

In Michigan the Statute of Limitation is six years. In Florida, the SOL is four years. So, if you are being called or sued by Debt Buyers for an old or zombie debt, contact us and we will review the case, defend you for free and sue the Junk Debt Buyer under the Fair Debt Collection Practices Act and “make them pay you.”

Fill out our free case evaluation form. We’ll review your case and contact you, usually within 5 minutes to 1 hours time.

A successful debt negotiation requires the debtor to convince the creditor to agree on a balance lesser than the actual one. The creditor has to forgive a part of the debt for this purpose. The paid in full settlement happens when the debtor pays a mutually agreed amount in lump sum. Usually this balance ranges between 25% and 65% of the total outstanding balance.

Financial hardships in the nineteen eighties and nineties in America post recession threw people off gear. Inability to cope up with repayment of debts made consumers opt for debt negotiation. It worked well for both creditors and debtors. For creditors because the money that was written off or could be lost should the debtor file for bankruptcy, could now be recovered at least in part. For debtors, the pressure of minimum monthly balances now could be avoided. Ever since then, debt negotiation has become a viable option for consumers who are unable to meet the demands of the repayments.

What debts can be settled in Debt negotiations?

Unsecured debts like credit card debts and medical bills can be negotiated with the credit card companies. Secured debts like auto loans or mortgages cannot be settled through negotiations. Certain federal student loans also cannot be settled through debt arbitrations.

How to pay the lump sum amount?

There are many debt settlement companies that offer loans for the amount required to pay off the outstanding balance. However, this method has certain disadvantages. The debt settlement companies charge heavy rate of interest and often are unreliable in service. This is a secured debt with collateral on assets and should you default on payment, the lender can seize your assets. The best way in this case is to use up savings or any other deposit that you have.

What happens to your credit report?

No matter what anybody says, the negative remark of debt settlement remains on your credit report. If you negotiate with debt collectors for a settlement, they may promise not to show it on the credit report. This is far from true because the negative comments from the original creditors would still be there in the report.

However, we regularly settle debts for clients as part of FDCPA settlements and the collection agency will remove their inquiry or trade line if you make it part of the deal.

Call us if you have any questions at (800) 737-2345.

Call Brian Parker at (800) 737-2345 and let us help you smile.

Don’t let debt collectors chase you down for money you no longer owe. Have you ever received a letter or phone call asking you to pay a debt that you’re not sure you owe? If so, you may be the target of zombie debt collectors. What is zombie debt? It has become increasingly common for companies to sell their old, uncollected debts for pennies on the dollar to third-party debt collection agencies. Zombie debt can be the result of identity theft, clerical errors or becoming confused with another debtor with a similar name. It is old or made up debt that debt collectors threaten or accuse debtors of owing when in reality, they never had the obligation or the statute of limitations has passed long ago.

Call us if you are being harassed for debt you do not own or the statute of limitations has passed long ago under the FDCPA.

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It can also occur when creditors are not properly informed of your having successfully filed for bankruptcy. In any case, the uncollected debts can be resold again, making the problem difficult to destroy. As soon as you convince one collector that the debt is false, another zombie might rise up to take its place, leaving you to deal with a different collector.

The Law Offices of Brian P. Parker PC help victims of Identity Theft and Debt Collection Abuse. www.collectionstopper.com. Or Call Toll Free (800) 737-2345.

When taping the collector:

1. Always be polite. Even if they insult you, say, “why are you being insulting to me or why are you getting personal with me,” and stay calm without getting sucked into their insult game. You want to show them for the abusers that they are.

2. Always, get names of the collectors and names of the company. Ask for their address. If they don’t honor your reasonable requests it is on tape.

3. Always ask them to cease and desist calling you. Again, you want their bad actions on tape. So, if they are calling before 8am or after 9pm, ask them why they call at those times. Q.You guys called at 7am yesterday, why did you call so early? We need them saying this on tape if that is what they did. Or ask them, Q.Why are your collectors calling me so much when I asked you to stop? Get it on tape .

4. The point is to get their harassment on tape and also show the collection agency it has a bad collector. You might be doing them a favor and others who may be subject to this bad guy. Again, be polite.

Let me know your thoughts at (800) 737-2345

First thing you have to do is to not do something: Don’t throw the letter away. Again, it is all about attitude. If you get scared, you will close your mind to possibilities. If a debt collector is contacting you they are probably breaking the law. Smile. Let’s look at the possibilies:
Four things the letter has to show you for it to be legal:
• How much they say you owe;
• The name of the creditor to whom the debt is owed;
• They have to give you thirty days after receipt of the letter to dispute the validity of the debt or any portion of it or they will be assume debt is valid;
• That if you dispute the debt (better do it in writing) they have to verify you owe the debt or go away; and
They have to give you the “Mini-Miranda Warning”, which must state that the communication is from a debt collector and that any information obtained may be used to collect the debt and that all subsequent communication from the debt collector must also include this warning.
They can sue you within that thirty day period too so get a letter to them asap.
There are two types of letters to send.
Cease and Desist Letter: This is good really for only one kind of debt. If a debt collector is looking for you to pay on a debt that is older than dirt (or your state’s statute of limitation) then as much as they yell and threaten, they can’s sue you for it. Once they receive this letter, they have to stop contacting you or you can sue them. Otherwise, legally, this letter is not a good letter to send as a cease and desist letter does not stop them from suing you unless you don’t owe the debt. Sometimes it even speeds things up as the debt collector that won’t give up and can’t talk to you really has no choice but to sue you a legitimate debt.
Validation Letter: Better letter to send. Even a debt collector that is collecting a legitimate debt from you within the statute of limitations has to stop until they validate the debt. Plus, a lot of debt collectors give up collecting rather than going to the trouble of compiling what is legally required to respond to your validation letter. So, you won’t hear from the debt collector and there will be no lawsuit. Also, if they put a mark on your credit report (after receiving the letter) or they send the debt to another collector without your dispute, they face a lawsuit from you.
Call us if you need a cease and desist letter or validation letter. And keep smiling.

Brian Parker

Remember: This is about changing your attitude and taking control. If the debt collector is going to harass you in a rude and illegal manner, don’t get upset. Take control and use their own bad actions against them. If you do this right, you will be hoping they call again.

1. Consider calling the debt collector as then if they repeat their harassment (as they have in the past-don’t force them into anything) you have it on tape as proof. Make sure first find out if you are in a one-party or two-party consent state. For help, check out: http://www.rcfp.org/taping/states.html. If you are in a one-consent state, you need only one consent (yours) and don’t have to inform the caller of your taping. Two-party consent states require that you inform the caller you are taping them. By the way, you will be surprised what debt collectors say even when you tell them they are being taped (they think you are blowing smoke).

2. Always be polite, unemotional and clear. A court or jury may have to hear this. If the debt collector is mean or abusive, let them sound like the bad guys, not you.

3. If they have said harsh or abusive things to you in the past, ask them about why they said those things. This way, if they choose to now repeat the insults, it is on tape. Ex. Q.Why did you say you are going to call the sheriff on me the last time we talked? Q. Your collector kept telling me she was going to sue me, is that what is going to happen? Again, the goal is to have them repeat what they previously said on tape. Don’t force them or cause them to if they have never said that. However, if they have said bad things in the past and you ask them to repeat it, you are getting their history of abuse on tape. Get it on tape .

Under the FDCPA a debt collector must provide the consumer with a written notice within five days of the first communication that should state:

• The amount due
• Name of the debt collection agency
• Original creditor’s name

A debt collector need not provide the notice if his/her employer has already provided. One notice from either the debt collector or the debt collector’s employer is enough. The notice should be clear with all the required information. However, for each debt the collector should provide a separate notice.

The FDCPA requires the notices to be legible. The FDCPA does not impose any restrictions on the font or format or sequence of the notice. It is acceptable as long as the required information is presented in an understandable format and has all the required supporting documents. A debt collector may shorten or consolidate the information but should make sure that it is clear.

A debt collection attorney (an attorney engaged by debt collection agency for collection of debts) has to send the required notice for any legal or non legal action. A debt collection attorney may also perform such duties as sending demand or dunning letters calling the consumers on the phone. A debt collection attorney has to provide a notice even if the previous debt collector (if there is one) has sent one.

If you dispute the debt, the debt collector must verify the debt with a notice even if he has already proved the debt in the first communication. The FDCPA requires this to assist the consumer in case if a wrong consumer is contacted accidentally. If the consumer requests the debt collector to identify the original creditor or disputes the debt, the debt collector should stop all collection efforts until the debt is verified.

A consumer is not assumed to have admitted to the liability if he does not dispute the validity of the debt. A debt collector may not stop normal collection methods till he receives a notice of dispute from the consumer. A debt collection attorney may go ahead with legal action even if the consumer disputes but has to stop all collection efforts until the debt dispute is verified.

My brothers and sisters sold their inheritance for a ridiculous amount, for the simple reason that their jobs demanded them to stay away from this town and this money could pay for the house mortgage debt they have in the metros.

I do not have a luxury car, washing machine, cooking range or even a refrigerator or an automated water filter. Worst, I do not have a regular job. And, I do not have DEBT. I only do free lancing and giving cookery classes, all at home.

I do not have the luxury things, not because I am incapable of generating wealth. If I leave the place for a job just for the purpose of generating revenues I perhaps would not be taking care of my parents in their last years. I perfected the art of remaining above poverty line, living within the financial boundaries – without debt and without wants. I studied in the best school, college and university and I do not consider myself deprived or poor for the value adding skills I picked up there that had put me in control of any situation, especially managing within limited means, without debt. I am Creative. And I believe it’s a skill any body can develop, to reduce the credit card debt, college loan debt and mortgage debt. Willing to make a conscious choice to manage money wisely is the creativity we all need the most in the times of recession to avoid debt.

Debt is a financial suicide if you use a credit card for the things once bought, start losing in value such as:

• Going on vacation
• Buying designer dresses and accessories
• Repaying other debt
• Buying gifts for others
• Furniture for the new house/replace the old one

Debt you afford to owe for the things that would increase in value and generate revenue sooner or later, are as follows:

• Get a college/University degree: It will give you skills to earn better
• Buy a home: If you rent it out, it will pay off the mortgage
• Start a business: Helps you generate money for you and to repay the loan

When you find yourself in the hole of debt, borrowing more to come out of it is only digging a deeper grave. When I decide I do not borrow for the things I do not need I avoid debt. Luxury stuff is not a need, it is a want. Being rich would have made me happier and more generous. But then I would still be thinking of the distinction between needs and wants and still be trying not to use credit cards, to buy stuff that loses value the moment it comes into my hands. This refusal to get into debt would have nothing to do with my fat bank balance. After all, the richest is the one who has no debt.

Visit www.collectionstopper.com if you are being sued by a credit card debt collector. If a credit debt collector has sued you illegally, you will be represented for free and then sue the debt collector and make them pay you under the FDCPA. For Free! Fill out our free case evaluation form. Your case will be reviewed and you will be contacted usually within 5 minutes to 1 hour’s time.