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Old 06-16-2012, 02:10 PM
 
Location: Florida & Arizona
5,913 posts, read 7,248,624 times
Reputation: 7504

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Until a claim is presented and a court rules it valid, I can't see how anyone's credit could be affected.

An insurance company (or any other company or individual, for that matter) can't just go to the credit reporting agencies and say, "This person owes me $40,000." Just doesn't work that way.

There would have to be an existing business relationship or a court award on the record for it to be reported to a credit agency.

I agree with this others - this is a corporate bullying attempt that you should ignore. If they feel they have a case that they can get recovery from, they would be all over you in a minute. Insurance companies have a reputation for this, and it usually starts with the person whom they determine is the weakest or has the deepest pockets.

When I was in the corporate world I was often an expert witness in litigation for my company's legal department. I can't count the number of times insurance companies would put us on notice for a claim when in some cases it wasn't even our product. It was a shotgun approach they took to recovery, and if it yielded results they were good. if not, or if the parties they notified pushed back, the insurer would start looking into the situation in detail and retreat, if necessary.

RM

 
Old 06-16-2012, 02:16 PM
 
Location: Hernando County, FL
8,488 posts, read 20,557,742 times
Reputation: 5397
Quote:
Originally Posted by BucFan View Post
With an outstanding $40k debt, will his credit be affected?
If I write you a letter and tell you that you owe me $50,000 does that create debt?
There is no debt, only a letter asking him to send $40K.
They have nothing to send to the credit reporting agencies and if I was in his position I would hope they would report it to the agencies because i would sue them for 10 times that amount, and win.
 
Old 06-17-2012, 10:27 AM
 
140 posts, read 502,747 times
Reputation: 93
Because that's what us "mature grown-ups" do when we are being sued for $40,000 after a hoiuse fire

Last edited by Sunscape; 06-17-2012 at 05:07 PM..
 
Old 06-17-2012, 11:09 AM
 
Location: Hernando County, FL
8,488 posts, read 20,557,742 times
Reputation: 5397
Quote:
Originally Posted by NJerseyBorn View Post
Because that's what us "mature grown-ups" do when we are being sued for $40,000 after a hoiuse fire rolleyes
"Mature grown ups" will generally access the situation, realize that there is no lawsuit and go on about their day.
"Mature grown ups" generally do not roll their eyes since this would be a sign of immaturity.
 
Old 06-17-2012, 11:41 AM
 
Location: Tampa, FL
27,798 posts, read 32,248,191 times
Reputation: 14611
Quote:
Originally Posted by NJerseyBorn View Post
Because that's what us "mature grown-ups" do when we are being sued for $40,000 after a hoiuse fire
Not being sued yet......
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