Archive for September, 2010
September 29th, 2010 | 
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To collect your debt.
Typo your,
Felons can buy S.S. Numbers to collect debt and use the for anything they want. Don’t be naive.
Giulietta
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My father died without a will (intestacy) in the state of Pennsylvania. My stepmother wants me to assume administrator of the estate. Will this make me personally responsible to assume any residual debt that my father left behind in event that there is not enough assets in his estate to cover these obligations? Also, will this effect my credit score in any way? I am being told conflicting information. Does anyone know?
Beverly Chiang
I’m not talking debt consolidation, but rather finding and getting in contact with indebted companies.
Gail Deneen
Hi guys,
I was the CEO and majority owner of a Delaware corporation that is now out of business. The corporation is completely out of money and about to be dissolved. I formally resigned from the corporation in May, but just received a notice in the mail that I’m being sued *personally* in small claims court by one of the debtors (a contractor who is owed $5000).
The basis of his claim is that I “intermingled funds”, and therefor owe him the money personally instead of the debt being the responsibility of the Corporation. Is this a valid claim, or will it be dismissed by the judge in small claims court?
What *are* the valid reasons why the corporate veil can be pierced, and I could be responsible for paying him the $5000? Just trying to arm myself with information – any input appreciated.
I did not ever receive a personal check made out to me for funds with the corporation.
I did however, pay a debtor with my own money at one point as a loan to the corporation. So I guess that means I “intermingled funds”, but it was with me paying for stuff personally, not the other way around. I lost a lot of money personally.
Sammy Koogler
these credit cards? We have lots of high interest credit cards, and want to use the money from this personal loan to pay off those with high interest and/or those with more than 10% balance on the card. If we get a lower interest on the personal loan, then we would be saving money monthly and in the long run. Our monthly payments currently run around $500 in ONLY credit card payments (includes some minimum, and some extra here and there). So desperately need more flexibility in our overall monthly budget. My main thing is, would it hurt our credit score? Please help!
Additionally: We vowed to NOT use our credit cards, and NOT cancel them. We understand using them, reusing them will only add to our debt, and closing the accounts will decrease our score. Thanks everyone so far for the answers.
Spencer Utzig
its not for improving credit score, its for consolidating debt, b/c my balance transfer rate was set to skyrocket soon
Nathanael Clauson
I am a young single girl who has racked up A LOT of personal debt in the last few years, by basically being an idiot and trying to live a lifestyle I couldn’t afford. I have stopped spending on any credit card, and am living on a cash basis completely. I have a good, well paying full time job, and a part time waitressing job, and I am also a college student. I have a car payment, and personal loan, and four credit cards! (two of which I am over 90 days past due on).
I don’t want to ruin my credit any more than I already have…but I don’t know what to do. I don’t make enough money.
Is there any way I could make extra money?
Is one of those credit score ruining consolidation programs really my only hope?
I really wanted to do this on my own…
Please Help!
Alishia Girman
we owe a personal debt and we were paying it and the company froze our bank account but we made good and the unfroze it we made our payments now its winter my husband is ion construction and we are not able to make payments but told her time and time again when he gets back to work we will start again..so the b—- freezes our account again and then threatens to have the sherrif come in and take all our business stuff my husbands tools and all now his business is incorporated which means its not really his in a way so will they be able to freeze all that stuff or take it considering this debt has nothing to do with business it was a personal one please help me with this..im so frustrated its like like it was a house we owe or anything it was a truck from years ago and we only owe like 7,000.00 on it now
Brad
I have been working very hard to improve my credit score and have had to make several personal loans to do so. Now I have a lot of different payments with high interest rates. I would much rather have one payment with one interest rate.
Jake Bogosh
Forgetting some details, more or less this is the situation.
I needed to borrow money off a friends dad to lend to someone else who is very close to me. This was extremely important and very necessary. Ever since then I have agreed to pay him back monthly and have for the past 4 months. I am 22 days late paying back last month as I have had car trouble and a few other unexpected expenses. One of the cheques I gave him bounced but I paid in cash 2 days later to cover as something came out of my account and I didn’t realize.
When I borrowed the money he lent it at no interest, and asked how much I could afford to pay back each month. I didn’t sign anything. This agreement was more out of trust than being a contract. I was given the cash in a bank draft and that was it. Although he knew what it was for, the debt was to me.
Since this has been late for 22 days, he has hired a personal debt Collector to come after me for the remaining balance. This guy showed up at my house and threatened to take me to court for fraud since one of my cheques bounced (which I mentioned I covered 2 days later in cash) and then he visited the person who I lent the money to, to try and tell them that he would put a lean on their house and take THEM to court.
Although I have intentions of paying him back, can I actually be sued for being given money as a loan with no documentation, paper work or anything to back it up? Can this personal debt collector approach my close friend legally and do that? The debt is mine. Not theirs.
Sophie Black