List/Grid Monthly Archives: October 2009

States Debt Collection Statute Of Limitations

Alabama Statutes – §6-2-37 Contracts under seal: 10 years, (A.C. 6-2-33) Contracts not under seal; actions on account stated and for detention of personal property or conversion: 6 years (A.C. 6-2-34) Sale of goods under the UCC: 4 years (A.C. 7 -2- 725) Open accounts: 3 years (A.C. 6-2-37) Actions to recover charges by a common carrier and negligence actions; 2 years, (A.C. 6-2-38) Actions based on fraud: 2 years (A.C. 6-2-3) Alaska Statutes – §09.10.053 Action on a sealed instrument: 10 years (A.S. 09.10.40) Action to recover real ...
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The FCBA And FDCPA

The FCBA or the Fair Credit Billing Act requires creditors to bill entirely and properly. It prohibits charges that have the erroneous date or wrong amount, not permitted charges, charges for goods or services that you did not acknowledge or were not delivered as contracted upon. It prohibits a company from failing to post payments or other credit and failing to send billing notices to your up to date address, provided that any changes of address were received by them 20 days prior to the billing cycle. This law also allows a consumer to request ...
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Debt Validation

Did you know that under the FDCPA or the Fair Debt Collections Practices Act you have the right to “debt validation”? What does that mean you ask? What this means is that you demand proof from the collection agency and the original creditor that the debt is really your responsibility and that the balances, terms of the loan and any other pertinent information is correct and accurate. Also know that if it is a collection agency they must also provide proof that they have the legal right to collect the debt from you. What you need to do now is ...
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Opt Out Of Credit Card Offers

Credit bureaus can and do sell your information to creditors, insurance companies and more. These companies will send you prescreened and pre-approved offers for credit cards and insurance. These offers may not be offered to the general public and they may be helpful for you to comparison shop. However, they also allow your address and other information to be available to creditors, skip-tracers, collection agencies and more. Also if you choose to respond to such offers, your credit score may actually go down because the credit bureaus actually ...
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The Fair Credit Reporting Act – FCRA

You have rights thanks to the fair credit reporting act. You can download the FCRA pdf here. In 1970 a Federal law was enacted by Congress to defend consumers from inaccuracies on their credit reports. This law is called the Fair Credit Reporting Act or the FCRA and it was planned to promote the equality, accuracy and privacy of personal information compiled on credit reports by credit reporting agencies. Credit reporting agencies are companies that are in the industry of collecting, compiling and selling information on consumers for the objective ...
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