Judgments can be much more powerful than a debt. A judgment may be utilized to grab (garnish) part
of your wages or your bank account, and occasionally auction off your assets at a Sheriff's sale,
to satisfy their judgment. Judgments can get recovered without a phone call or letter to you.
Debts can't be used to levy your property, unless and until you are sued, to transform your debt
into a judgment.
Debts (not a judgment) are usually recovered by mailing you and telephoning you; and occasionally
suing you. My articles are my opinions and are not, legal advice. I'm a judgment referral expert,
and not a lawyer. If you ever want a strategy to use or legal advice, please retain an attorney.
Debts and judgments both do expire, although their expiration times are usually different, and
judgments can most often be renewed. If your creditor sues you to win their new judgment, that
judgment timeline starts fresh.
When your SOL (debt collection Statute Of Limitations) is expired, tell the debt collector that;
and that should wake them up. What is the Statute Of Limitations in your state? A web search will
quickly provide this answer. The state average nationwide is close to five years. When the Statute
Of Limitations has not run out, and you cannot repay your debt in full, then you can attempt to
negotiate and attempt to settle the debt.
There are laws that limit what collectors may do, however if you owe money; you have to expect
the creditors to try to collect. most debt collectors follow every law. However, some do not, and
it is best to learn the federal and state debt collection laws. A search on the web will list the
laws, however some basics on how to deal with debt collectors are:
1) Remember your own financial situation, and don't offer a settlement for more than you could
handle. With some folks, it is a matter of which debt collector to try to pay back first. The
creditors that are consistently nice, or have leverage (as an example those planning to sue you
to win a judgment) are more likely to get some payment, than rude debt collectors with no actual
leverage.
2) Explain your financial situation. When you cannot repay them in full, tell them the reason.
Share with the creditor some evidence that you have experienced a financial hardship, and don't
have the money required to repay the total amount. Do not waste your time on trivia, your life's
story; or how wrong the debt was, unless there was really some mistake made which you can
document.
3) Remember your rights. These kind of rights include that debt collectors can't contact you
prior to 9 AM and later than 9 PM, or threaten you with jail time, or threaten to sue you unless
they actually are prepared to sue you. When your rights gets violated, inform that debt collector
that you are aware of your rights, and that you can take the required legal actions if they are
needed.
4) As much as possible, try to keep communications in writing. Consider sending any letters with
certified mail using return receipt request. When you need to use a telephone, write down the
name of any individual you have talked with, and the time of each call. This may later come in
handy.
5) Do not pay anything without having a written agreement in place. Whatever is not in writing
can turn into some kind of miscommunication.
6) Until there's an actual judgment lodged against you, you don't need to give the debt collector
any personal info; for example the place that you work. (If somebody gets a judgment, they may
schedule a judgment debtor examination and document subpoenas to learn your income and finances.)
7) Stay patient, the majority of collectors will begin by turning down any beginning settlement
offer. Over time, your first offer may become much more attractive to your creditor. Reaching the
best compromise usually requires patience.
----------------------------------------------------
Mark Shapiro of http://www.JudgmentBuy.com - The easiest and fastest free way to find the right
expert to buy or recover your judgment.
Posted by J.Randall Frier
Saturday, March 30, 2013
Can You Reset The Statute Of Limitations On A Debt?
Different than debts, a judgment can most often get renewed, and until a judgment debtor
discharges their judgment by filing for bankruptcy protection, or succeeds in vacates, satisfies,
or appeals the judgment; nothing else the judgment debtor may do would alter how long a judgment
remains valid for. Debts behave differently, as how long they last starts with a state's Statute
Of Limitation (SOL). The SOL most often begins if a debt is 6 months late or when the debtor gets
receive a demand letter requesting payment in full.
This article is my opinion and is not, legal advice. I'm a judgment referral expert, and not a
lawyer. If you ever want a strategy to use or legal advice, please contact an attorney.
SOL time periods average around 4-5 years, however SOLs usually vary per state. A web search will
show the SOL in your state. The Statute Of Limitation clock may be reset by some action that a
debtor takes, as an example signing some new agreement to pay; and in certain states, if the
debtor makes just a single payment. While a Statute Of Limitation on the debt remains active, the
creditor can bring the debt to court, and win their judgment. Of course, a successful bankruptcy
can wipe out almost every debt.
SOLs are intended for debts that are dormant. Inside some states, sending one payment may make
the SOL dormant, as it makes the account "active". Within such states, just making a payment can
reset the starting date of a SOL.
The SOL laws in some states say that sending a partial payment doesn't reset the SOL clock,
unless there's a new promise in writing to send payments. Inside the following states, just
mailing a payment does not restart a Statute Of Limitation: Wisconsin, West Virginia, Virginia,
Texas, New York, Nevada, Missouri, Mississippi, Minnesota, Michigan, Massachusetts, Maine,
Kansas, Iowa, Florida, California, and Arizona. In the majority of other states, sending your
payment on even the last day of an original SOL time period, restarts the SOL date.
Within certain states, merely promising to send in your payment, might even reset a Statute Of
Limitation date. Although in that situation, the debt collector would have to sue you, and show
proof of that promise to some court; either bringing proof of your recorded phone conversation
and/or some documentation.
After a debt's SOL has expired, discussions by themselves cannot reactivate the SOL. When a debt
collector calls you about a debt that is past the Statute Of Limitation, that by itself does not
restart the Statute Of Limitation. Neither will admitting to a collector that you know about an
old (Statute Of Limitation-expired) debt, or can't pay back the debt.
Note that Statute Of Limitations are totally separate from credit reports. With a credit report,
the newly updated dates are not related to the state SOLs. If you have any kind of contact with a
creditor or a collection agency, which counts as activity for your account. This type of update on
your account is routine and is done every day.
If any collection agency contacts you concerning a debt that was discharged in bankruptcy
discharge, or where the SOL has expired, explain to them this; and then mail the creditor your
"cease and desist" letter by certified mail, with return receipt requested. Every year or so, get
one of the free credit reports, to check that there is not any SOL-barred debts listed there.
Creditors sometimes try to convince you to pay anything, so they can keep the Statute Of
Limitation going. One example is if some creditor tells their debtor they may pay just ten
dollars a month. Even when that company won't accept such a low payment, the company may make
their payment offer to attempt to restart the SOL, so a debtor can be sued to obtain a judgment.
Occasionally, if you don't pay the debt collector, they may get a judgment, which lasts a lot
longer than a debt. Certain collection companies sell debts they can't make any progress with
(and sometimes when where the Statute Of Limitation has passed), to some other collection
company. This is annoying, and it means that you may need to mail "cease and desist" letters on
the same obsolete debt more than once.
----------------------------------------------------
Mark Shapiro of http://www.JudgmentBuy.com - The easiest and fastest free way to find the right
expert to buy or recover your judgment.
Posted by J.Randall Frier
discharges their judgment by filing for bankruptcy protection, or succeeds in vacates, satisfies,
or appeals the judgment; nothing else the judgment debtor may do would alter how long a judgment
remains valid for. Debts behave differently, as how long they last starts with a state's Statute
Of Limitation (SOL). The SOL most often begins if a debt is 6 months late or when the debtor gets
receive a demand letter requesting payment in full.
This article is my opinion and is not, legal advice. I'm a judgment referral expert, and not a
lawyer. If you ever want a strategy to use or legal advice, please contact an attorney.
SOL time periods average around 4-5 years, however SOLs usually vary per state. A web search will
show the SOL in your state. The Statute Of Limitation clock may be reset by some action that a
debtor takes, as an example signing some new agreement to pay; and in certain states, if the
debtor makes just a single payment. While a Statute Of Limitation on the debt remains active, the
creditor can bring the debt to court, and win their judgment. Of course, a successful bankruptcy
can wipe out almost every debt.
SOLs are intended for debts that are dormant. Inside some states, sending one payment may make
the SOL dormant, as it makes the account "active". Within such states, just making a payment can
reset the starting date of a SOL.
The SOL laws in some states say that sending a partial payment doesn't reset the SOL clock,
unless there's a new promise in writing to send payments. Inside the following states, just
mailing a payment does not restart a Statute Of Limitation: Wisconsin, West Virginia, Virginia,
Texas, New York, Nevada, Missouri, Mississippi, Minnesota, Michigan, Massachusetts, Maine,
Kansas, Iowa, Florida, California, and Arizona. In the majority of other states, sending your
payment on even the last day of an original SOL time period, restarts the SOL date.
Within certain states, merely promising to send in your payment, might even reset a Statute Of
Limitation date. Although in that situation, the debt collector would have to sue you, and show
proof of that promise to some court; either bringing proof of your recorded phone conversation
and/or some documentation.
After a debt's SOL has expired, discussions by themselves cannot reactivate the SOL. When a debt
collector calls you about a debt that is past the Statute Of Limitation, that by itself does not
restart the Statute Of Limitation. Neither will admitting to a collector that you know about an
old (Statute Of Limitation-expired) debt, or can't pay back the debt.
Note that Statute Of Limitations are totally separate from credit reports. With a credit report,
the newly updated dates are not related to the state SOLs. If you have any kind of contact with a
creditor or a collection agency, which counts as activity for your account. This type of update on
your account is routine and is done every day.
If any collection agency contacts you concerning a debt that was discharged in bankruptcy
discharge, or where the SOL has expired, explain to them this; and then mail the creditor your
"cease and desist" letter by certified mail, with return receipt requested. Every year or so, get
one of the free credit reports, to check that there is not any SOL-barred debts listed there.
Creditors sometimes try to convince you to pay anything, so they can keep the Statute Of
Limitation going. One example is if some creditor tells their debtor they may pay just ten
dollars a month. Even when that company won't accept such a low payment, the company may make
their payment offer to attempt to restart the SOL, so a debtor can be sued to obtain a judgment.
Occasionally, if you don't pay the debt collector, they may get a judgment, which lasts a lot
longer than a debt. Certain collection companies sell debts they can't make any progress with
(and sometimes when where the Statute Of Limitation has passed), to some other collection
company. This is annoying, and it means that you may need to mail "cease and desist" letters on
the same obsolete debt more than once.
----------------------------------------------------
Mark Shapiro of http://www.JudgmentBuy.com - The easiest and fastest free way to find the right
expert to buy or recover your judgment.
Posted by J.Randall Frier
Sunday, March 24, 2013
What You Need To Know To Hire An Estate Planning Attorney
To put together a total estate plan, it needs to start with information regarding your finances.
The reason is that it's very difficult for you and your estate planning lawyer to put together a
coherent plan that effectively transfers your financial assets upon your death without knowing
exactly what your assets are. In addition, it may not be possible to know if your beneficiaries
are up to date if you don't review them. And, it's difficult to figure out if your assets are
properly titled if you don't know what names are on these titles.
That's why to establish an accurate and complete estate plan, you need a list or inventory of
your assets and debts which includes the name or names currently on the title of each asset. And
you need a list or inventory of your life insurance policies and your retirement plans including
the names of the primary and secondary beneficiaries.
Here are some of the points that will help you in finding the right attorney for your estate
planning
It is recommend that you hire an experienced estate planning or elder law attorney to prepare
the legal documents that will make up your estate plan. It's penny-wise and pound-foolish to
"do-it-yourself."
However, it is also necessary that you control your estate plan. You tell your attorney what you
want your plan to accomplish. Ask your attorney what options you have, including the cost, and the
positives and negatives of each option. Then you decide (not your attorney) which options best
meet your objectives.
How to Locate an Estate Planning Attorney
You want an estate planning or elder law attorney - an attorney who does estate planning for a
living and not as a sideline. Your best source of information is a satisfied customer, so ask
family and friends for suggestions. Your accountant and financial planner are also good sources
of recommendations.
Another source is your local Bar Association; call and ask for the names of estate planning and
elder law attorneys in your area.
Cost of the Initial Consultation
Most estate planning and elder estate planning attorneys do not charge for an initial
consultation. Take advantage of a no cost consultation. It will give you the opportunity to judge
whether you feel comfortable with the attorney and what his or her fees will be for the documents
that you need prepared.
Here are some of the questions you need to ask an attorney before hiring him/her
1. Make sure that estate planning is the primary area of practice of the attorney you hire
2. How will the advocate charge you, flat fee or hourly?
3. If you have questions will you be able to contact him personally by phone or email?
5. Do you return calls or emails promptly?
I'm sorry to say that some attorneys do not treat their clients well. If you are not treated
respectfully by the attorney and staff; if you are kept waiting for an unreasonable amount of
time; if fees are not readily and thoroughly explained; if your estate plan cannot be done in a
timely manner and if your phone calls are not returned promptly, find another attorney.
----------------------------------------------------
Seflin Lawfirm - Experienced and Caring Estate Planning Attorney Delaware County PA. Attorney
Seflin can assist you with all aspects of estate planning Delaware County Pa. Learn more at
http://www.seflinlawfirm.com
Posted by http://jrandallfrier.com/
The reason is that it's very difficult for you and your estate planning lawyer to put together a
coherent plan that effectively transfers your financial assets upon your death without knowing
exactly what your assets are. In addition, it may not be possible to know if your beneficiaries
are up to date if you don't review them. And, it's difficult to figure out if your assets are
properly titled if you don't know what names are on these titles.
That's why to establish an accurate and complete estate plan, you need a list or inventory of
your assets and debts which includes the name or names currently on the title of each asset. And
you need a list or inventory of your life insurance policies and your retirement plans including
the names of the primary and secondary beneficiaries.
Here are some of the points that will help you in finding the right attorney for your estate
planning
It is recommend that you hire an experienced estate planning or elder law attorney to prepare
the legal documents that will make up your estate plan. It's penny-wise and pound-foolish to
"do-it-yourself."
However, it is also necessary that you control your estate plan. You tell your attorney what you
want your plan to accomplish. Ask your attorney what options you have, including the cost, and the
positives and negatives of each option. Then you decide (not your attorney) which options best
meet your objectives.
How to Locate an Estate Planning Attorney
You want an estate planning or elder law attorney - an attorney who does estate planning for a
living and not as a sideline. Your best source of information is a satisfied customer, so ask
family and friends for suggestions. Your accountant and financial planner are also good sources
of recommendations.
Another source is your local Bar Association; call and ask for the names of estate planning and
elder law attorneys in your area.
Cost of the Initial Consultation
Most estate planning and elder estate planning attorneys do not charge for an initial
consultation. Take advantage of a no cost consultation. It will give you the opportunity to judge
whether you feel comfortable with the attorney and what his or her fees will be for the documents
that you need prepared.
Here are some of the questions you need to ask an attorney before hiring him/her
1. Make sure that estate planning is the primary area of practice of the attorney you hire
2. How will the advocate charge you, flat fee or hourly?
3. If you have questions will you be able to contact him personally by phone or email?
5. Do you return calls or emails promptly?
I'm sorry to say that some attorneys do not treat their clients well. If you are not treated
respectfully by the attorney and staff; if you are kept waiting for an unreasonable amount of
time; if fees are not readily and thoroughly explained; if your estate plan cannot be done in a
timely manner and if your phone calls are not returned promptly, find another attorney.
----------------------------------------------------
Seflin Lawfirm - Experienced and Caring Estate Planning Attorney Delaware County PA. Attorney
Seflin can assist you with all aspects of estate planning Delaware County Pa. Learn more at
http://www.seflinlawfirm.com
Posted by http://jrandallfrier.com/
Monday, March 11, 2013
Finding A Competent Estate Planning Attorney
When the time comes for you to leave this earth, your assets stay behind. Everything you have
worked hard for will remain here, but you need to make sure they are left in safe hands. And for
this to happen, you need to come up with an estate plan. Estate planning is making plans to
entrust your assets to someone responsible when you pass on. And to avoid difficulties during
this process, it can be helful to work with a lawyer. An estate planning attorney is a
professional who is well versed with these issues, and who knows all the laws involved in that
area.
Finding an estate attorney can be a daunting task. You need to be careful while you look for
one, because your precious assets are involved here; be it your cars, apartments, bank accounts,
estates, businesses, etc. He should be competent enough to put things clear so your beneficiaries
will not have problems down the line. Toward this end, there are important attributes you need to
look for in a competent attorney. Here is just a look at some:
First, ensure that whoever you are going to hire has experience in that field. Ensure that your
lawyer has a license, check on his certificates and his working experience as well. He should
display his professional skills in the way he counsels you, and in the options he is giving you.
The attorney must also be ethical. He should give you advice that is legally accepted. Any
attorney who is giving you advice that is not legal and ethical will cause problems to your
beneficiaries in future.
Also, look for someone who you can trust as a 'friend'. He should be a person whom you can tell
him everything and how you want your final affairs arranged. He should be a good listener and
open-minded as well. He should be in a position to offer you a personalized service -- displaying
a sense of seriousness and commitment to your matter.
Just as said earlier, finding an estate planning attorney with all these attributes is not easy.
There are many attorneys who claim to know all about estate planning, but not all of them are
well-versed in this area. Here is a list of resources you can consult while as you search for an
attorney:
1) Referral from your financial advisor.
2) Your accountant can also be of help.
3) You can consult other lawyers you have worked with on legal issues.
4) Ask for a referral from a local probate court.
5) Ask your colleagues, family and/or friends for a referral.
6) Search on the internet and/or check advertisements that have been posted on the newspapers or
there are those who advertise themselves on radio or televisions.
This list will help you find an attorney, and provided he/she possesses all the attributes
mentioned above, you should have a reputable estate attorney to help you manage your final
affairs.
----------------------------------------------------
Seflin Law firm - Experienced and Caring attorney Upper Darby PA. Attorney Seflin can assist you
with all aspects of estate planning Upper Darby Pa. Learn more at http://www.seflinlawfirm.com
Posted by http://jrandallfrier.com/
worked hard for will remain here, but you need to make sure they are left in safe hands. And for
this to happen, you need to come up with an estate plan. Estate planning is making plans to
entrust your assets to someone responsible when you pass on. And to avoid difficulties during
this process, it can be helful to work with a lawyer. An estate planning attorney is a
professional who is well versed with these issues, and who knows all the laws involved in that
area.
Finding an estate attorney can be a daunting task. You need to be careful while you look for
one, because your precious assets are involved here; be it your cars, apartments, bank accounts,
estates, businesses, etc. He should be competent enough to put things clear so your beneficiaries
will not have problems down the line. Toward this end, there are important attributes you need to
look for in a competent attorney. Here is just a look at some:
First, ensure that whoever you are going to hire has experience in that field. Ensure that your
lawyer has a license, check on his certificates and his working experience as well. He should
display his professional skills in the way he counsels you, and in the options he is giving you.
The attorney must also be ethical. He should give you advice that is legally accepted. Any
attorney who is giving you advice that is not legal and ethical will cause problems to your
beneficiaries in future.
Also, look for someone who you can trust as a 'friend'. He should be a person whom you can tell
him everything and how you want your final affairs arranged. He should be a good listener and
open-minded as well. He should be in a position to offer you a personalized service -- displaying
a sense of seriousness and commitment to your matter.
Just as said earlier, finding an estate planning attorney with all these attributes is not easy.
There are many attorneys who claim to know all about estate planning, but not all of them are
well-versed in this area. Here is a list of resources you can consult while as you search for an
attorney:
1) Referral from your financial advisor.
2) Your accountant can also be of help.
3) You can consult other lawyers you have worked with on legal issues.
4) Ask for a referral from a local probate court.
5) Ask your colleagues, family and/or friends for a referral.
6) Search on the internet and/or check advertisements that have been posted on the newspapers or
there are those who advertise themselves on radio or televisions.
This list will help you find an attorney, and provided he/she possesses all the attributes
mentioned above, you should have a reputable estate attorney to help you manage your final
affairs.
----------------------------------------------------
Seflin Law firm - Experienced and Caring attorney Upper Darby PA. Attorney Seflin can assist you
with all aspects of estate planning Upper Darby Pa. Learn more at http://www.seflinlawfirm.com
Posted by http://jrandallfrier.com/
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