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Do not pay them a penny, nor agree to pay them a penny, until you determine the Statute of Limitations for collecting on this debt. A collections agency will most likely try to trick you into doing something that is not in your best interests.
NoMoreSnow is on to something (and I'm surprised that no one else has mentioned the Statute of Limitations). I'm not sure what you have done to date--and I'm not sure if what you have done will have indeed reset the Statute of Limitations--but you need to be very wary. A consultation with a good lawyer would be in order. If you can determine that the Statute of Limitations on your debt has not been reset and is about to expire, that would put you in the driver's seat as far as negotiating a resolution, if that's what you rightly choose to do.
But, if you've recently made a payment on your debt, "SOL" has a double meaning.
I have not paid them as of yet. I am the debt can be invalidated because the management company that calculated the inflated amount owed is no longer in business
OP, take the advice you have already been given. CONTACT A LAWYER.
DFW Bar Association Lawyer Referral Service for a low-cost initial consultation (30 min). In the meantime, pay nothing on this debt. Paying a portion is an admission that you owe - and it resets the clock on the SOL. Also, if you pay a portion of it, you will owe the IRS taxes based on the amount written off (as income).
If they provide the credit bureaus with the lease contract and the document itemizing what I owe is that enough for the collection company to validate the debt even if the management company is no long longer in business?
It doesn't matter if the original company is no longer in business, if someone else now owns the debt. Did the collection agency buy the debt?
If you talk to an attorney, talk to a bankruptcy attorney. You can consult for free, but they are the ones who know about how debts and collections work.
I live in a apartment my ex-husband rented for me. however he insists on having a key and he just makes my life uncomfortable in general. I appreciate his help but, he takes it too far; for example I am not allowed to date another man while I live here and he would rather that I don't have ppl over at all. Hence the reason I am really interested in being able to rent my own apartment.
So he is paying your rent and you cannot save any money for a lump sum offer of settlement? If you can't save anything with free housing, how on earth do you expect to pay the rent for your own apartment?
So he is paying your rent and you cannot save any money for a lump sum offer of settlement? If you can't save anything with free housing, how on earth do you expect to pay the rent for your own apartment?
She didn't say he pays the rent. He rented it in his name.
So he is paying your rent and you cannot save any money for a lump sum offer of settlement? If you can't save anything with free housing, how on earth do you expect to pay the rent for your own apartment?
It doesn't matter if the original company is no longer in business, if someone else now owns the debt. Did the collection agency buy the debt?
If you talk to an attorney, talk to a bankruptcy attorney. You can consult for free, but they are the ones who know about how debts and collections work.
I assumed they bought the debt. Isn't that how it works? Do you know how I can find that out if they own it?
I assumed they bought the debt. Isn't that how it works? Do you know how I can find that out if they own it?
It's safe to assume they own the debt - or someone does who they are representing - if they are bothering to try to collect from you. They aren't going to work to collect something for a client who can't pay them for doing so.
You could ask them who owns the debt. But, really, assume someone owns it.
Bankruptcy attorneys will give you a free consultation. You can learn a lot - and then file for yourself, if you don't want to pay one. Although, now that the whole foreclosure fiasco is mostly over, I see advertisements again for cheap bankruptcy lawyers. At any rate, the consultation is free.
I assumed they bought the debt. Isn't that how it works? Do you know how I can find that out if they own it?
It doesn't matter! If the Statute of Limitations has passed, they simply can't enforce collection of the debt. It's been repeated often: check with an attorney; don't pay anything before you do.
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