Sentences with phrase «as debt collection activities»

Both types of bankruptcy may get rid of unsecured debts and stop foreclosures, repossessions, garnishments and utility shut - offs, as well as debt collection activities.

Not exact matches

As we said earlier, the «date of last activity» should report «when the delinquency occurred» and not a date of collection or not when they bought that debt or not just because they want to re-report every month.

The collection agency then must cease any further collection activity until if and when it sends you written verification of the debt, such as a copy of an unpaid bill or court judgment.

Knowing this, most debt collectors respect the automatic stay and cease their collection activities as soon as they learn of the bankruptcy filing.

As we discussed in the first segment it's unlikely they will sue you, and if collection activity stays on your credit report for six years, which is typically how it works here in Ontario, whether I go bankrupt or pay a collection agent or do some other means of settling the debt, my credit rating's pretty much pooched anyways.

IMPORTANT NOTE: New activity such as debt collection attempts or you making a payment does not restart the credit reporting time clock (except for taxes)!

This includes immediate protection from collection activity such as phone calls and garnishments, and the longer - term chance to eliminate or reorganize your debts.

This creates a problem with joint debt, as if the party that is supposed to pay the debt under the separation agreement defaults, then the other party will have their credit affected and will be subject to collection activity.

The question of whether an attorney is regularly engaged in debt collection is made by courts on a case - by - case basis, with courts looking at factors such as percentage of revenue generated by the debt - collecting activities; the volume of debt - collecting activities; and whether the attorney has an on - going relationship with a collection service.

It regulates collections made by third parties, such as attorneys, on behalf of another, but it does not apply to the activities of a creditor collecting debts on its own behalf or to the creditor's employees.