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Fired but still recieving pay
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<blockquote data-quote="BrownThunder" data-source="post: 1565342" data-attributes="member: 57287"><p>This is true.</p><p></p><p>A. Acct sold off to collection agency</p><p>B. Attempts are made to collect (letters, phone calls)</p><p>C. Balance grows</p><p>C+. Acct can shift from one company to another</p><p>D. Acct finally lands at law firm</p><p>D. Firm attempts to collect</p><p>E. After so long, they decide to litigate, pursuing a judgment against you</p><p>friend. After judgment is in place they can freeze your accounts or Garnish your wages.</p><p></p><p>A freeze will affect all accounts your have your name on. </p><p></p><p>You stand the best chance of settling that debt while its at a regular collection agency. I used to settle debts at around 35% for my clients. When it hits legal you're lucky if you can settle at less than 50%</p></blockquote><p></p>
[QUOTE="BrownThunder, post: 1565342, member: 57287"] This is true. A. Acct sold off to collection agency B. Attempts are made to collect (letters, phone calls) C. Balance grows C+. Acct can shift from one company to another D. Acct finally lands at law firm D. Firm attempts to collect E. After so long, they decide to litigate, pursuing a judgment against you friend. After judgment is in place they can freeze your accounts or Garnish your wages. A freeze will affect all accounts your have your name on. You stand the best chance of settling that debt while its at a regular collection agency. I used to settle debts at around 35% for my clients. When it hits legal you're lucky if you can settle at less than 50% [/QUOTE]
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Fired but still recieving pay
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