Archive for the ‘reference’ tag
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 Vintage collection Men Mecanical Mov Wrist Watch Leather Band Luxury Transparent $14.99 Time Remaining: 5d 2h 14m Buy It Now for only: $14.99 |
 BRAND NEW INVICTA 1205 Collection Chronograph 18K Gold Plated Mens Watch $65.00 (13 Bids) Time Remaining: 1h 39m |
 595+ Burberry Endurance Collection Mens Watch BU7505 Black Strap Silver Dial $230.50 (29 Bids) Time Remaining: 14h 40m |
 Unique Sport Men Boy Wrist watch Quartz collection Black Leather Big White Dial $6.99 Time Remaining: 21d 6h 51m Buy It Now for only: $6.99 |
 USSR VINTAGE WATCH ZIM FROM MY COLLECTION OF THE SOVIET EPOCH $19.99 Time Remaining: 35m |
 NEW INVICTA MENS 0555 RUSSIAN DIVER COLLECTION BLACK POLYURETHANE WATCH $98.87 Time Remaining: 2d 16h 15m Buy It Now for only: $98.87 |
 NEW Invicta Mens Pro Diver Collection All Black Chronograph Watch 6986 $73.00 (13 Bids) Time Remaining: 14h 6m |
 USSR VINTAGE WATCH ZIM FROM MY COLLECTION OF THE SOVIET EPOCH $19.99 Time Remaining: 32m |
 Invicta Collection Chronograph Gold Dial 18k Gold Plated Stainless Steel Watch $119.95 Time Remaining: 20d 12h 25m Buy It Now for only: $119.95 |
 COLLECTION MECHANICAL SOVIET WATCHES WOSTOK17 Jewels USSR 1980 $19.99 Time Remaining: 40m |
 Invicta 0873 Mens Force Collection Black Polyurethane Watch $120.00 Time Remaining: 28d 2h 42m Buy It Now for only: $120.00 |
 COLLECTION MECHANICAL SOVIET WATCHES VICTORY15 Jewels $19.64 Time Remaining: 31m |
 COLLECTION MECHANICAL SOVIET WATCHES WOSTOK17 Jewels USSR 1970 $19.99 Time Remaining: 33m |
 Invicta 0141 Mens Sea Spider Collection Chronograph Black Polyurethane Watch $149.00 Time Remaining: 20d 2h 2m Buy It Now for only: $149.00 |
 COLLECTION MECHANICAL SOVIET WATCHES Beam23 Jewels USSR 1980 $19.99 Time Remaining: 36m |
 Invicta Mens 8926OB Pro Diver Collection Coin Bezel Automatic Watch Brand New $87.82 Time Remaining: 25d 5h Buy It Now for only: $87.82 |
 VINTAGE COLLECTION SOVIET WRISTWATCHES GLORY 21 RUB $19.64 Time Remaining: 37m |
 VINTAGE COLLECTION SOVIET WRISTWATCHES DAWN 15 RUB $19.64 Time Remaining: 39m |
 New Mens Sector R3271177025 SK Eight Collection Chronograph Black Lorica Watch $119.99 Time Remaining: 8d 13m Buy It Now for only: $119.99 |
 COLLECTION MECHANICAL SOVIET WATCHES VICTORY15 Jewels $19.99 Time Remaining: 49m |
 Invicta Mens Pro Diver Collection Chronograph Stainless Steel Watch 0070 $85.00 Time Remaining: 19d 9h 1m Buy It Now for only: $85.00 |
 Invicta 10206 Mens Reserve Bolt Collection Swiss Made Chronograph 18K Watch $239.95 (1 Bid) Time Remaining: 1d 12h 19m |
 NEW INVICTA 0849 FORCE COLLECTION CHRONOGRAPH ROSE DIAL BLACK MENS WATCH NR $100.00 (15 Bids) Time Remaining: 15h 10m |
 Invicta 10206 Mens Reserve Bolt Collection Swiss Made Chronograph Poly Watch $379.00 Time Remaining: 28d 11h 34m Buy It Now for only: $379.00 |
 Invicta Mens 1532 Subaqua Collection Chronograph Watch $76.00 (9 Bids) Time Remaining: 11h 39m |
 Nemesis LBB080K Mens Signature Collection 3 Time Zone Wide Leather Cuff Watch $109.97 Time Remaining: 28d 3h 55m Buy It Now for only: $109.97 |
 GENUINE ROLEX SOLID STEEL OYSTER PRECISION DATE OYSTERDATE 6694 COLLECTIBLE $710.00 (23 Bids) Time Remaining: 5h 57m |
 1950 60s Collectable Vintage DAMAS Mechanical Watch 17J Swiss Mens $29.99 Time Remaining: 13h 8m |
 Invicta II Collection Black Ion Plated Stainless Steel Mens Watch 0383 $109.00 Time Remaining: 28d 4h 3m Buy It Now for only: $109.00 |
 Invicta Mens Reserve Nekton Sport Collection Chrono Black Ion Plated SS Watch $152.50 (22 Bids) Time Remaining: 12h 39m |
 GUESS COLLECTION MENS WATCH QUARTZ STAINLESS $25.00 Time Remaining: 6d 17h 15m Buy It Now for only: $25.00 |
 Invicta Mens Subaqua Collection Noma III Swiss Made Chronograph Titanium Watch $163.50 (8 Bids) Time Remaining: 2d 11h 48m |
 INVICTA 1532 SUBAQUA COLLECTION CHRONO MENS WATCH $149.99 Time Remaining: 36m Buy It Now for only: $169.99 |
 New Elgin Diamond Collection Gold Men Dress Watch FM503 23mm x 31mm $39.95 Time Remaining: 1d 4h 40m Buy It Now for only: $39.95 |
 INVICTA 6636 S1 GMT COLLECTION MENS WATCH $169.99 Time Remaining: 39m Buy It Now for only: $199.99 |
 New Adidas Mens ADP1863 Response Light XL Collection Digital Watch $44.99 Time Remaining: 29d 14h 29m Buy It Now for only: $44.99 |
 Invicta 10206 Mens Reserve Bolt Collection Swiss Made Chronograph 18K Watch $213.50 (12 Bids) Time Remaining: 1d 14h 16m |
 ULYSSE NARDIN Anniversary Edition Marine Collection Chronometer 269 65 $6,100.00 (11 Bids) Time Remaining: 53m Buy It Now for only: $19,500.00 |
 Invicta 0913 Specialty Reserve Collection Chronograph Swiss Watch $219.99 Time Remaining: 18d 9h 22m Buy It Now for only: $219.99 |
 NEW Authentic Invicta 0450 II Collection 49500 $45.80 (6 Bids) Time Remaining: 7h 9m |
 Invicta Mens 1543 Reserve Collection Swiss Quartz Watch Brand New In Box $199.99 Time Remaining: 29d 23h 26m Buy It Now for only: $199.99 |
 NEW INVICTA 0843 FORCE COLLECTION CHRONOGRAPH WHITE DIAL BLACK MENS WATCH NR $44.00 (13 Bids) Time Remaining: 14h 31m |
 Invicta Mens 0073 Pro Diver Collection Swiss Chronograph 18K Gold Plated RARE $142.50 (23 Bids) Time Remaining: 14h 48m |
 Invicta Mens 1543 Reserve Collection Swiss Quartz Watch Brand New In Box $199.99 Time Remaining: 29d 23h 26m Buy It Now for only: $199.99 |
 Highly Collectible GUCCI 3000m 18K Mens Vintage Watch $71.00 (12 Bids) Time Remaining: 3h 7m |
 Nemesis BLHST080S Mens Signature Collection 3 Time Zone Wide Leather Cuff Watch $109.97 Time Remaining: 28d 3h 55m Buy It Now for only: $109.97 |
 COLLECTION MECHANICAL SOVIET WATCHES WOSTOK18 Jewels USSR 1970 $19.99 Time Remaining: 1h 32m |
 COLLECTION MECHANICAL SOVIET WATCHES WOSTOK17 Jewels USSR 1980 $19.99 Time Remaining: 1h 33m |
 Invicta Mens Vintage Collection 1459 Blue Sunray Dial Black Leather Watch $55.50 Time Remaining: 29d 11h 48m Buy It Now for only: $55.50 |
 USSR VINTAGE WATCH ZIM FROM MY COLLECTION OF THE SOVIET EPOCH $19.00 Time Remaining: 1h 34m |
 Invicta Mens F0065 Reserve Collection Leviathan Chronograph S S BAND MSRP1195 $179.99 Time Remaining: 4d 14h 47m Buy It Now for only: $179.99 |
 COLLECTION MECHANICAL SOVIET WATCHES SLAVA21 Jewels USSR 1980 $19.99 Time Remaining: 1h 33m |
 USSR VINTAGE WATCH ZIM FROM MY COLLECTION OF THE SOVIET EPOCH $19.00 Time Remaining: 1h 36m |
 New Guess Collection G76004G2 Class XXL Ceramic Rose Mens Watch In Original Box $719.00 Time Remaining: 29d 11h 18m Buy It Now for only: $719.00 |
 NEW Invicta 1432 Sea Hunter Collection Swiss Movement Black IP Mens 100M Watch $36.00 (16 Bids) Time Remaining: 9h 39m |
 Invicta Mens Subaqua Noma IV Collection Chronograph Two Tone 18K Rose Gold 6541 $366.00 Time Remaining: 9d 1h 34m Buy It Now for only: $366.00 |
 COLLECTION LOT VINTAGE WRIST WATCHESSpares and PartsDOWISSABELTIME x 13 $14.31 (5 Bids) Time Remaining: 7h 32m |
 NEW INVICTA 0842 FORCE COLLECTION CHRONOGRAPH RED DIAL BLACK MENS WATCH NR $58.00 (9 Bids) Time Remaining: 14h 11m |
 Invicta Mens Vintage Collection 1462 Yellow Sunray Dial Black Leather Watch $51.00 Time Remaining: 29d 11h 51m Buy It Now for only: $51.00 |
 COLLECTION MECHANICAL SOVIET WATCHES VICTORY15 Jewels $18.67 Time Remaining: 1h 34m |
 NEW Invicta Mens Pro Diver Collection Scuba Stainless Watch 6090 $139.00 Time Remaining: 14d 3h 16m Buy It Now for only: $139.00 |
 Invicta Mens Specialty Collection Brown Dial Chronograph Rubber Strap Watch $26.99 (7 Bids) Time Remaining: 3d 14h 42m |
 SEIKO LASSALE vintage Quartz Watch Good Condition working collectible rare $58.00 (12 Bids) Time Remaining: 10h 34m |
 Invicta Mens 6555 Subaqua Noma IV Collection Chronograph Stainless Steel Watch $215.00 Time Remaining: 14d 14h 54m Buy It Now for only: $215.00 |
 Original Vintage Rolex Guarantee Booklet Rare Collectible Book No Reserve $31.00 (5 Bids) Time Remaining: 14h 39m |
 Nemesis BLBB011B Mens Signature Collection Leather Cuff Band Tear Drop Watch $74.97 Time Remaining: 28d 8h 36m Buy It Now for only: $74.97 |
 SEIKO KINETIC ARCTURA 5M42 0E39 ORIGINAL RETRO SYLE RARE COLLECTABLE MENS WATCH $94.84 (12 Bids) Time Remaining: 6h 47m |
 I S COLLECTION VERY COOL MUST SEE $59.99 Time Remaining: 1h 53m Buy It Now for only: $65.99 |
 575 Prestigious Swiss Made GUESS COLLECTION Gc Swiss Made G65007G1 Mens Watch $279.00 Time Remaining: 23d 4h 39m Buy It Now for only: $279.00 |
 Invicta Mens 6713 Sea Spider Collection Chronograph Black Ion Plated Watch $52.47 (7 Bids) Time Remaining: 9h 21m |
 NEW GUESS COLLECTION GC SE 1 DIVER CHRONOGRAPH SS MEN BLACK WATCH I46500G1 DATE $238.88 Time Remaining: 9d 8h 45m Buy It Now for only: $238.88 |
 Invicta Mens Corduba Collection Elegant Chronograph Gold Tone Brown Watch NEW $47.76 (11 Bids) Time Remaining: 2d 15h 28m |
 Invicta Mens Ceramic Collection Quartz Matte Bracelet Watch 1191 No Reserve $31.00 (8 Bids) Time Remaining: 10h 8m |
 Vintage Collectable DPW BREITLING Swiss Movement Quartz Military Watch $425.00 Time Remaining: 29d 23h 55m Buy It Now for only: $425.00 |
 Invicta Mens 6555 Subaqua Noma IV Collection Chronograph Stainless Steel Watch $190.00 (10 Bids) Time Remaining: 2d 7h 50m |
 Steinhausen Dunn Horitzon Collection Swiss Movement Ultra Thin Case Mens Watch $139.99 Time Remaining: 9d 18h 34m Buy It Now for only: $139.99 |
 Invicta Mens 4568 Subaqua Noma III Collection Chronograph Watch $102.51 (7 Bids) Time Remaining: 2d 7h 48m |
 Invicta Mens 4568 Subaqua Noma III Collection Chronograph Watch $75.78 (26 Bids) Time Remaining: 2d 8h 3m |
 Invicta Mens 5404 Subaqua Collection Chronograph Watch $999.00 Time Remaining: 6d 6h 43m Buy It Now for only: $999.00 |
 NEW Invicta 1432 Sea Hunter Collection Swiss Movement Black $40.00 (1 Bid) Time Remaining: 10h 19m |
 New Guess Collection X66009G1S G 4 Executive Mens Watch In Original Box $636.00 Time Remaining: 29d 11h 18m Buy It Now for only: $636.00 |
 Invicta Mens 6267 Reserve Collection Chronograph Excursion Edition Watch $99.99 Time Remaining: 3d 10h 59m |
 NEW Invicta Mens Russian Diver Collection Watch 4338 $73.00 (8 Bids) Time Remaining: 6h 39m |
 Invicta Mens 8928 Pro Diver Collection Automatic Watch Brand New MSRP 34500 $89.79 Time Remaining: 27d 6h 17m Buy It Now for only: $89.79 |
 Invicta Mens Subaqua Collection 18K Gold Plated Swiss Chronograph Polyurethane $61.00 (10 Bids) Time Remaining: 4d 13h 59m |
 NEW NWT INVICTA Model 1806 Watch Specialty Collection Stainless Steel Tritnite $49.99 Time Remaining: 18d 22h 47m Buy It Now for only: $49.99 |
 Invicta Mens Reserve Collection Chrono SS Watch 6754 $150.00 Time Remaining: 3h 4m Buy It Now for only: $170.00 |
 INVICTA MENS 5119 OCEAN GHOST COLLECTION LE DIAMOND AUTOMATIC WATCH $102.50 (11 Bids) Time Remaining: 3d 7h 4m |
 Ice Watch Mens SIBKBBS11 Sili Forever Collection Black Watch $85.95 Time Remaining: 7d 7h 59m Buy It Now for only: $85.95 |
 Invicta Mens Pro Diver Scuba Collection Two Tone Swiss Chronograph $90.99 (12 Bids) Time Remaining: 4d 14h 7m |
 Invicta Mens 5715 Invicta II Collection Sport Stainless Steel and Black Watch $99.95 Time Remaining: 9d 9m Buy It Now for only: $99.95 |
 Invicta Mens 0070 Pro Diver Collection Chronograph $102.50 (25 Bids) Time Remaining: 1d 11h 22m |
 Invicta Mens Corduba Collection Swiss Quartz Yellow Dial GMT Watch 1054 NEW $61.00 (15 Bids) Time Remaining: 2d 14h 27m |
 Geneva Classic Collection His Hers Boxed Watches Set Gift Stainless Steel New $12.99 Time Remaining: 5d 8h 44m Buy It Now for only: $12.99 |
 Rotary Mens GB02487 06 Kensington Collection Two Tone Stainless Steel Watch $16.06 (4 Bids) Time Remaining: 3h 6m |
 Invicta Mens 0367 II Collection Black Ion Plated Stainless Steel Large 48 Watch $99.95 Time Remaining: 19d 18h 56m Buy It Now for only: $99.95 |
 NEW Invicta Mens 1459 Vintage Collection Riveted Leather Strap Blue Dial Watch $0.99 Time Remaining: 1d 6h 39m |
 BRAND NEW Invicta Mens 1477 Sea Spider Collection Scuba Chronograph Watch $75.00 (15 Bids) Time Remaining: 1d 14h 39m |
 NEW Collection 2012 Touch White Digital SURW100 Swatch Watch Gift $150.09 Time Remaining: 29d 23h 13m Buy It Now for only: $150.09 |
 New Invicta Mens 6541 Subaqua Noma IV Collection Chronograph Two Tone Watch $301.50 (27 Bids) Time Remaining: 3d 9h 51m |
Debt Collection: Don't Let Yourself Get Sued
It would seem that human instinct is to hide from collection agencies. We don't answer the phone when they call and we fail to respond when they file suit against us. As natural as it seems, hiding from the problem is the worst way to deal with it. And quite honestly, responding to a lawsuit could be the fastest way to make it all go away. That's because in many cases, they don't even have the right to sue you!
This is a problem the industry created for itself and I doubt anyone will feel sorry for them. Just the same, let's take a look at how debt collection has grown in recent years and how all the selling and trading of debt from one company to another can actually benefit the consumer.
The Debt Business is Booming
The debt collection industry has grown tremendously over the last decade. In the late nineties, the debt purchasing industry was in the range of $10 billion. Today the debt purchasing industry has grown to more than $115 billion. Debts are typically sold or assigned to third party debt collectors when the original creditor feels the debt is no longer collectible. The original creditor is the party with whom the debtor receives an extension of credit or to whom the original debt is owed. These include credit card companies, banks, and mortgage companies, just to name a few. The original creditor sells the debt in portfolios or in bulk to third party collection agencies for around four cents on the dollar. The debt collection agency will then attempt to collect on the debt for the full amount allegedly owed to the original creditor.
The collection agency purchasing the debt generally acquires merely an electronic file containing the debtor's name, account number, personal contact information, and any personal or professional references the collection agency may have utilized in their efforts to collect the debt.
However, what's often not included in those files is essential information necessary to prove the debt is owed or providing the collection agency with "personal knowledge" of the account. This information is required by law in order to sue on the debt. Nonetheless, it is generally not purchased as part of the debt portfolio. This information includes, for example, the original contract, terms and conditions, account statements, charge slips, etc.
The more times the original debt is sold, the less likely the collection agency holds the documents necessary to file suit. Further, the more times a debt has been sold, the more likely errors have occurred. Most of the time the third party debt collector lacks personal knowledge necessary to sue on the account. In other words, without all that paperwork, they can't sue you successfully. Which isn't to say they can't file suit – they can and sometimes do. But we'll come to that shortly.
First, let's consider the matter of statute of limitations. Collection suits are typically filed based on the legal theories of breach of contract or account stated. If the original signed contract and terms and conditions are signed, and the creditor or collection agency has possession of the contract (not likely), they have ten years from the date of charge-off (or default in, some cases) to file a collection suit. If the creditor or collection agency does not hold the original contract, they are filing the collection suit based on an account stated theory (majority of collection cases utilizing mostly billing statements to prove up the debt). A collection suit file based on an account stated theory must be filed within five years of the date of the charge-off or default.
What if They Sue Me Anyway?
Knowing all of this, some collection agencies won't even attempt to sue the debtor because they don't have the necessary information or the statute of limitations has passed. In fact, some collection agencies purchase old debt knowing it is passed the statute of limitation to sue and rely on aggressive collection tactics to scare you into paying the debt.
In those instances when collection agencies due file suit, they win an overwhelming majority of the time by default judgment. This means that the debtor failed to respond to the suit by filing an answer and appearing at the hearing. Sadly, many times these suits should not have been brought in the first place. Had the debtor merely responded, the creditor or collection agency would have been required to appear in court and present evidence that they properly owned the debt and that it is legal that they brought the suit. Or, the debt collection suit may have been dismissed for being filed passed the statute of limitations period.
Unfortunately, once a judgment is entered – even a default judgment – it is difficult to undo the damage. The creditor or collection agency will attempt to collect the judgment through wage garnishment, bank account levy, or other measures.
You Have Rights
What many consumers do not realize is that original creditors and third party collection agencies alike are required to conduct their debt collection practices within the regulations of the the Federal Fair Debt Collection Practices Act (FDCPA) and any state laws that apply. Keep in mind that collection agencies do not care about "customer service." They are not attempting to hold onto you as a customer. The object is to collect on the debt in the most efficient, cost effective way possible.
Many times the debt collector's business model does not involve being in compliance with the FDCPA because very few consumer protection attorneys file suits against creditors and collection agencies for violating consumer's rights. In addition, it is unfortunately known that the penalties collection agencies face for failing to comply with the regulations are extremely low. Since the penalties are not severe, many collection agencies continue to utilize illegal collection practices including threat, coercion, and humiliation (contacting third parties). In other words, dealing with lawsuits is cheaper than making sure that the business is in compliance with the law.
I do cautiously state that not all creditors and collection agencies engage in illegal debt collection practices. It is my opinion, however, that companies that do operate legally are the minority in the industry. It is important to remember that, as a consumer, you have rights and you should require a creditor or collection agency prove it owns the debt and that you owe the debt.
If you think you are a victim of any type of illegal collection practice, you should seek the advice of a Iowa consumer protection attorney or contact your Attorney General's office. A suit may be brought against a creditor or collection agency for even one debt collection violation. Many states even have laws that compel the creditor to pay your attorney fees and court costs if they are found to have violated your rights.
About the Author
Sam graduated from Drake Law School after completing undergraduate work at the University of Iowa. After passing the bar, he developed a general law practice that included work in criminal, family and juvenile law. As time passed, he began focusing specifically in the areas of bankruptcy and consumer protection.
Sam is frequently asked to provide lectures to attorneys, business professionals and the public on the topics of bankruptcy and consumer protection and how these issues affect other aspects of the law. He enjoys these presentations and the opportunity they provide to discuss current events the legal system.
Sam has received a number of awards and is proud to be a member of the National Association of Consumer Bankruptcy Attorneys and the National Association of Consumer Advocates. He's involved with those organizations because they've provided resources he's been able to use to help his clients–not because touting membership is a good marketing strategy or because it might impress someone.
John Lasseter talks about his Hawaiian shirt collection