Merchant's Credit Guide They are fishers of old debt that you don't have to pay! ripoff Chicago Illinois

I do have a business but that isn't the point.

Once I win a money judgement in small claims court (I've sued and won in small claims 3 times now) I can do several things to collect:

1. Statute of limitations: SOL (in NYS) is NOW 20 years - money judgement.

2. Enforcement order to obtain funds directly from a bank account.

3. Enforcement order to employer to garnish wages.

4. Enforcement order to NYS Lottery - to be paid if person wins lotto over $1000 -(people who win more $1000 or more, must submit their ticket for validation and wait to be paid by Lotto - then I'll get paid before they do.) I get paid before the "winner" gets paid. I have such an outstanding order in place against a woman for about $370.

5. Enforcement order to NYS to garnish any NYS income tax refund - same lady from above.

6. Contract (hire) a collection agency to collect the debt for me.

7. Report to the credit bureaus - I will have to pay a FEE to do this, but I can report it and it will show up on their credit report as a non-payed money judgement (this is noncompensable in small claims - this fee cannot be added to my money judgement.)

My point is that a credit report is just that - a report. A credit report has no bearing on whether a debt is valid or not, or can be collected or not.

Statute of limitations is for pursuing a money judgement. When the statute of limitations is expired, that means I cannot go to court for a money judgement. The debt is still valid and has not been absolved. There are only 3 ways (I know of) of legally absolving a debt:

1. Pay it off
2. Creditor forgives the debt or forgives the outstanding balance of the debt.
3. Court Order (as in Bankruptcy Court.)

I do have a business but that isn't the point.

Once I win a money judgement in small claims court (I've sued and won in small claims 3 times now) I can do several things to collect:

1. Statute of limitations: SOL (in NYS) is NOW 20 years - money judgement.

2. Enforcement order to obtain funds directly from a bank account.

3. Enforcement order to employer to garnish wages.

4. Enforcement order to NYS Lottery - to be paid if person wins lotto over $1000 -(people who win more $1000 or more, must submit their ticket for validation and wait to be paid by Lotto - then I'll get paid before they do.) I get paid before the "winner" gets paid. I have such an outstanding order in place against a woman for about $370.

5. Enforcement order to NYS to garnish any NYS income tax refund - same lady from above.

6. Contract (hire) a collection agency to collect the debt for me.

7. Report to the credit bureaus - I will have to pay a FEE to do this, but I can report it and it will show up on their credit report as a non-payed money judgement (this is noncompensable in small claims - this fee cannot be added to my money judgement.)

My point is that a credit report is just that - a report. A credit report has no bearing on whether a debt is valid or not, or can be collected or not.

Statute of limitations is for pursuing a money judgement. When the statute of limitations is expired, that means I cannot go to court for a money judgement. The debt is still valid and has not been absolved. There are only 3 ways (I know of) of legally absolving a debt:

1. Pay it off
2. Creditor forgives the debt or forgives the outstanding balance of the debt.
3. Court Order (as in Bankruptcy Court.)

I do have a business but that isn't the point.

Once I win a money judgement in small claims court (I've sued and won in small claims 3 times now) I can do several things to collect:

1. Statute of limitations: SOL (in NYS) is NOW 20 years - money judgement.

2. Enforcement order to obtain funds directly from a bank account.

3. Enforcement order to employer to garnish wages.

4. Enforcement order to NYS Lottery - to be paid if person wins lotto over $1000 -(people who win more $1000 or more, must submit their ticket for validation and wait to be paid by Lotto - then I'll get paid before they do.) I get paid before the "winner" gets paid. I have such an outstanding order in place against a woman for about $370.

5. Enforcement order to NYS to garnish any NYS income tax refund - same lady from above.

6. Contract (hire) a collection agency to collect the debt for me.

7. Report to the credit bureaus - I will have to pay a FEE to do this, but I can report it and it will show up on their credit report as a non-payed money judgement (this is noncompensable in small claims - this fee cannot be added to my money judgement.)

My point is that a credit report is just that - a report. A credit report has no bearing on whether a debt is valid or not, or can be collected or not.

Statute of limitations is for pursuing a money judgement. When the statute of limitations is expired, that means I cannot go to court for a money judgement. The debt is still valid and has not been absolved. There are only 3 ways (I know of) of legally absolving a debt:

1. Pay it off
2. Creditor forgives the debt or forgives the outstanding balance of the debt.
3. Court Order (as in Bankruptcy Court.)

I do have a business but that isn't the point.

Once I win a money judgement in small claims court (I've sued and won in small claims 3 times now) I can do several things to collect:

1. Statute of limitations: SOL (in NYS) is NOW 20 years - money judgement.

2. Enforcement order to obtain funds directly from a bank account.

3. Enforcement order to employer to garnish wages.

4. Enforcement order to NYS Lottery - to be paid if person wins lotto over $1000 -(people who win more $1000 or more, must submit their ticket for validation and wait to be paid by Lotto - then I'll get paid before they do.) I get paid before the "winner" gets paid. I have such an outstanding order in place against a woman for about $370.

5. Enforcement order to NYS to garnish any NYS income tax refund - same lady from above.

6. Contract (hire) a collection agency to collect the debt for me.

7. Report to the credit bureaus - I will have to pay a FEE to do this, but I can report it and it will show up on their credit report as a non-payed money judgement (this is noncompensable in small claims - this fee cannot be added to my money judgement.)

My point is that a credit report is just that - a report. A credit report has no bearing on whether a debt is valid or not, or can be collected or not.

Statute of limitations is for pursuing a money judgement. When the statute of limitations is expired, that means I cannot go to court for a money judgement. The debt is still valid and has not been absolved. There are only 3 ways (I know of) of legally absolving a debt:

1. Pay it off
2. Creditor forgives the debt or forgives the outstanding balance of the debt.
3. Court Order (as in Bankruptcy Court.)

You are absolutely right about if something is borrowed then it needs to be paid regardless of you reporting it to the credit agencies or not. The point i'm trying to make is similar to this.
Would you agree that if someone commits a crime and they do jail time for it, they have paid there debt to society?
Well what about when you fail to repay an obligation, and the creditor has reported it to the credit agencies and that negative reporting has prevented you from getting things on credit or from getting mortgages or whatever you're applying for. Say after 7 years which is the law in some states, wouldn't you agree that you've served your time or shall i say your credit report has been hindered for whatever amount of time that it's on your cbr?
I'm not here to debate the legalities of anything, i'm an ex-employer providing info on how the company handles things. Chuuuch!

Robert,

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You wrote:
"You are mistaken"...
"You are mistaken about not having to pay something that is NOT listed on your credit report. Credit reports are made from the information a creditor sends to them. If they don't report the loan to a credit agency that doesn't mean you don't have to pay".

"If I loan you $100 and you don't pay it back I could report it to a credit agency. If I don't report it to a credit agency, that doesn't mean you don't owe me the money".

**The facts** Actually, you as an individual could NOT report that $100 personal loan to a credit bureau. You must subscribe to a credit bureau before you can report anything, and you can only subscribe if you have a legitimate business purpose.

"As to the statute of limitations. The statute of limitations does not invalidate the loan. It just means they can't sue you in civil or small claims court to recover the money - they may still contact you in an attempt to get you to pay the loan that you still owe".

**The facts** Actually a debt that is past SOL is invalidated, as it is not LEGALLY collectable anymore. I know debt collectors like you find this concept hard to understand. AND, since MCG is a THIRD PARTY debt collector, all the OP has to do is send a CEASE COMMUNICATIONS request which LEGALLY requires all contact to CEASE. Therefore, they MAY NOT contact the OP as you stated.

"The reality is that if you borrow money, say $100 from me, and don't pay it back, you OWE ME $100 until you pay me back or I forgive the loan. The debt to me is not invalidated because I don't report the loan to a credit agency or don't sue you in court - you don't pay it back - you owe the debt".

**The facts**A person only owes a debt as long as it is legally collectable. Once it is no longer legally collectable, it is no longer owed. By definition of the law. It makes no difference what your ethical beliefs are. This is the law. A debt past SOL ceases to be "owed". It is dead at that point. legally.
>>>>>>>>>>>>>>>>>>

Robert must be a debt collector, past or present, as his mentality is exactly what these parasites preach to the uneducated that they hire.

You are mistaken about not having to pay something that is NOT listed on your credit report. Credit reports are made from the information a creditor sends to them. If they don't report the loan to a credit agency that doesn't mean you don't have to pay.

If I loan you $100 and you don't pay it back I could report it to a credit agency. If I don't report it to a credit agency, that doesn't mean you don't owe me the money.

As to the statute of limitations. The statute of limitations does not invalidate the loan. It just means they can't sue you in civil or small claims court to recover the money - they may still contact you in an attempt to get you to pay the loan that you still owe.

The reality is that if you borrow money, say $100 from me, and don't pay it back, you OWE ME $100 until you pay me back or I forgive the loan. The debt to me is not invalidated because I don't report the loan to a credit agency or don't sue you in court - you don't pay it back - you owe the debt.