what if debtor says talk to my attorney only

What to do when your lawyer won’t respond?

Oct 24, 2017 · If the debt collector knows that an attorney is representing you about the debt, the debt collector must contact your attorney and cannot contact you. The CFPB’s Debt Collection Rule clarifying certain provisions of the Fair Debt Collection Practices Act (FDCPA) became effective on November 30, 2021.

What happens if I refuse to answer a creditor's questions?

Dec 16, 2013 · Alternatively, the attorney may be refusing to engage as a defined strategy agreed to with their client. They realize that if they don’t talk, our only option is to file a lawsuit. This can be a very effective debtor strategy if they believe the circumstances make the chance of litigation very small. For example, if the cost to litigate is ...

Do I have to appear for a debtor's examination?

Collateral Bankruptcy Services, LLC assists trustees, debtor's attorneys, and/or debtors in correctly and effortlessly surrendering cars, trucks, boats, personal watercraft (PWC), recreational vehicles (RVs), or all-terrain vehicles (ATVs) incident to Section 521 of the Bankruptcy Code, in compliance with federal and state law.

How do I contact a lawyer?

Aug 20, 2012 · “(18) Communicate with a debtor if the person knows that the debtor is represented by an attorney with respect to such debt and has knowledge of, or can readily ascertain, such attorney’s name and address, unless the debtor’s attorney fails to respond within 30 days to a communication from the person, unless the debtor’s attorney consents to a direct …

What should you not say to debt collectors?

3 Things You Should NEVER Say To A Debt CollectorNever Give Them Your Personal Information. A call from a debt collection agency will include a series of questions. ... Never Admit That The Debt Is Yours. Even if the debt is yours, don't admit that to the debt collector. ... Never Provide Bank Account Information.Sep 21, 2021

What can debt collectors not do?

Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.

How does a debtor negotiate a settlement?

Negotiate with the debt collector using your proposed repayment planExplain your plan. When you talk to the debt collector, explain your financial situation. ... Record your agreement. Sometimes, debt collectors and consumers don't remember their conversations the same way.Mar 29, 2019

Can a debt collector can be stopped from making contact with the debtor?

You have the right to tell a debt collector to stop communicating with you. To stop communication, send a letter to the debt collector and keep a copy of the letter. The CFPB's Debt Collection Rule clarifying certain provisions of the Fair Debt Collection Practices Act (FDCPA) became effective on November 30, 2021.Oct 24, 2017

Does your debt go away after 7 years?

Most negative items should automatically fall off your credit reports seven years from the date of your first missed payment, at which point your credit scores may start rising. But if you are otherwise using credit responsibly, your score may rebound to its starting point within three months to six years.Jan 10, 2022

Can I refuse to pay debt collectors?

If you refuse to pay a debt collection agency, they may file a lawsuit against you. Debt collection lawsuits are no joke. You can't just ignore them in the hopes that they'll go away. If you receive a Complaint from a debt collector, you must respond within a time frame determined by your jurisdiction.Sep 7, 2021

What percentage should I offer to settle debt?

Offer a specific dollar amount that is roughly 30% of your outstanding account balance. The lender will probably counter with a higher percentage or dollar amount. If anything above 50% is suggested, consider trying to settle with a different creditor or simply put the money in savings to help pay future monthly bills.

Should you settle with a debt collector?

If you are settling your debt, at least try to get them to report your debt as “paid in full” rather than “settled for less than the full balance.” Having your collections listed as paid in full in your credit report is more favorable than having your debts paid for a fraction of what you owed.May 8, 2020

What should I ask a debt collector?

Ask the debt collector to supply you with the details of the debt he or she is attempting to collect. Who is the original creditor? What was the original amount owed? How much of what you are attempting to collect is fees and interest accrued since he or she took possession of the debt?Mar 1, 2016

Can creditors text message you?

A new rule allows debt collectors to contact you on social media, text or email — not just by phone. ... The rule, which was approved last year by the Consumer Financial Protection Bureau's former president Kathleen L. Kraninger, took effect Tuesday, Nov.Dec 7, 2021

How long can a debt collector legally pursue old debt?

The time limit is sometimes called the limitation period. For most debts, the time limit is 6 years since you last wrote to them or made a payment. The time limit is longer for mortgage debts.

Can a debt collector come to your house?

Debt collectors don't have any special powers that can help them to collect a debt. You might find that they contact you through phone calls and letters however in some cases they may visit your home too. If a debt collector shows up at your house, you don't have to open the door to them or let them in.

What is collateral bankruptcy?

It is Collateral Bankruptcy Services’ goal to amicably work with the debtor or debtor’s attorney in coordinating the surrender of vehicles

What happens if you don't insure your car?

and if he or she does not insure the automobile and still drives it, they run the risk of getting in an accident and facing further litigation and debt problems. Surrendering the vehicle through Collateral Bankruptcy Services eliminates these problems and protects their fresh start.

Can you surrender a vehicle to bankruptcy?

A: Yes. Collateral Bankruptcy Services will do all the work to coordinate the surrender and pickup of the vehicle. In fact, Collateral Bankruptcy Services will, however, come to the vehicle to pick it up; you do not need to take the surrendered vehicle anywhere.

Does collateral bankruptcy collect out of pocket costs?

A: Nothing. Again, there are no out-of-pocket costs to the debtor or the debtor’s attorney. Collateral Bankruptcy Services collects its fees and costs from the secured creditor at the time it picks up the surrendered vehicle.

Write them off as bad debt against your bad debt reserve

Cases not favorable for a suit can be written off and forgotten about. This happens every day in business. What this does is creates a ripple effect that has been present since the beginning when the first debtor got away with not paying a debt.

Write them off and then assign the case to a second placement agency

A second placement agency is a collection agency or contingency collection attorney that will pursue the case after another agency or attorney has failed to collect. This has proven effective in the past for several reasons.

Write the receivable off to bad debt and sell the receivable

This resource has gained popularity recently. No longer are companies selling just consumer debt, but now have moved into selling selected commercial debt that is under the suit threshold, but refuses to pay. Selling debt as opposed to a second placement has its pros and cons.

Write the debt off and report it to a credit bureau

This resource is a feel-good option, but one that is the least profitable as far as a return of investment. It might feel good to know that this record will follow them for seven years, but has little impact on getting them to pay the debt. Less than 3% of those reported will come back to you to clear the balance.

What to do if you are concerned about debtors examination?

If you are concerned about a debtor's examination or if you have questions about any aspect of debt collection, consider talking to a qualified attorney. Your lawyer can explain both your legal rights and your legal obligations when it comes to dealing with debt.

What is debtor examination?

A debtor's examination is a special proceeding used by judgment creditors to look into ways it can collect a judgment from you, such as using a wage garnishment or attaching funds in a bank account. However, many judgment creditors use debtor's exams to pressure you to pay a debt.

What happens if you are found in contempt of court?

If you are found in contempt, the court may issue sanctions against you, which can include fines and jail time. If you do appear for the debtor's exam, you must answer the judgment creditor's questions honestly. If you give false or misleading answers, you could be punished for perjury.

Can you go to jail for not paying judgment?

You cannot go to jail if you do not pay the judgment creditor . However, you can go to jail if you fail to appear for a debtor's exam. If you do not show up, the court may find you in civil contempt for disobeying its order. If you ignore the court's summons, it may also issue a warrant for your arrest.

Do not sell personal information?

Do Not Sell My Personal Information. If a creditor has obtained a judgment against you, it might request that you come to court and answer questions about your finances. This procedure is called a debtor's examination. The purpose is to help the creditor determine how it can collect the judgment if you don't pay up.