as John A. said below, FIRST give them a copy of Dave Ramsey's book and help them follow it AND pay their debt down. That's probably the best gift/help you'll ever give them.... but in the mean time......
as others have said have them do a little homework on "fair debt collection act". Most collection agencies (CA's) are scum (I'm not talking about creditors that do their own collections). There are legal things that the collectors must do (prove the debt for example with the 1st contact which most of them do NOT) AND unless its in your contract with the original creditor the collection agency can NOT collect ANY fees or interest OVER the amount you originally from you. (again do your homework). If the CA does something illegal it might ?? change their rights...I don't think it will negate your obligation but it might?? give some room to breath/negotiate ect. AND call your state's attorney general. In Indiana they must be licensed to collect here (even if they are from out of state) and they won't want to loose their license (and many of them do loose them). If they are not licensed they can not even contact you for ANY reason (Indiana).
I'm NOT suggesting you use legal means to get out of the debt but they must follow the rules too. Its tough enough without being harassed.
We had one call because I forgot to pay a hospital on the payment plan 1 month (dumb #@$(* at the hospital, 1 month??! they've lost more business $$ because of that). I ended up paying the hospital and never heard from anyone again. Nothing on the credit report either. DOn't know if that always works or not. (do your homework).
BEST Thing is to call your creditors before trouble hits. Usually once it hits the CA the debtor has sold the account for pennies on the $ but this isn't always the case. They legally have to tell you if it was sold or if the CA is working on commission or fee on the $ actually recovered. you can find that out from the creditor as well. (DO your homework) if on commision you may still have some room to work with the creditor. ???? i'm not a lawyer or have the best finances but Dave Ramsey's book helps. ... do your homework... good luck!
We sell tractor parts! We have the parts you need to repair your tractor - the right parts. Our low prices and years of research make us your best choice when you need parts. Shop Online Today. [ About Us ]
Today's Featured Article - Restoration Story: Fordson Major - by Anthony West. George bought his Fordson Major from a an implement sale about 18 years ago for £200.00 (UK). There is no known history regarding its origins or what service it had done, but the following work was undertaken alone to bring it up to show standard. From the engine number, it was found that this Major was produced late 1946. It was almost complete but had various parts that would definitely need replacing.
... [Read Article]
Latest Ad:
1964 I-H 140 tractor with cultivators and sidedresser. Starts and runs good. Asking 2650. CALL RON AT 502-319-1952
[More Ads]
All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy
TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V.
