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Fair Credit Act

Discussions relating to Personal Injury Law

Fair Credit Act

Postby Peverell » Sun Nov 27, 2016 5:44 am

See below as I asked this question and the attorney, Jason Barnette, Esq. could not answer it, claiming it was outside of his expertise Some expert, what a joke.  How hard is this question to answer for a Collection Attorney?

:

If I am reading the Fair Credit Act correctly, I am entitled to a credit report on the Judgment Debtor. I have obtained a judgment via small claims court entitling me to collect what is owed me.  IF this is correct, where can I obtain the credit report as the major credit agencies refuse to help me.

ANSWER: Hi Carol.

I don't believe you are entitled to have a copy of the credit report just because you obtained a judgement on someone. My understanding is that you have to have the consumer's consent prior to obtaining a copy of the credit report. I think that's why you are running into difficulties with the credit bureaus.

, though...why do you want a copy of their credit report? If you are looking for assets(house, bank, job, etc) to enforce your judgment, you don't need a credit report. There are easy ways to locate someone and/or their assets. Is that what you're trying to do?

Please let me know and I'll be happy to help you further.

Warm regards - Mike

---------- FOLLOW-UP ----------

Yes, I am attempting to find out where the debtor has a bank account that can be garnished.  After reading the Fair Credit Act(618. Jurisdiction of Courts Limitations of Actions   15 U.S,C.. 1681p_ it appeared that based on having a court judgment the plaintiff could request of copy of the debtor's credit report.  It appears based on what you stated the law protects the debtor and not the plaintiff in judgment cases.  I do not want to pay someone 50% of my judgment which seems unfair and therefore am trying to obtain the information needed myself.  I am not trying to locate the debtor himself, just the bank account so if you have so if you are willing to share one of your easy ways, it would be greatly appreciated.  Thank you.

ANSWER: It's a privacy issue regarding credit reports. With identity theft on the rise(and constantly in the media#, expect things like access to credit reports to become increasingly more strict. And probably for good reason.

As it relates to location of assets, finding someone's bank account information is without doubt the most difficult. If it's a business, it's a little easier #simply follow...or hire a PI to follow...the person after work and see what bank the deposit is made to). I know that sounds very "cloak and dagger", but it's how it is done. You don't need the account number, just the bank. If it's an individual, it's really tough unless they give you the information voluntarily. One tact most often taken is to enter into a voluntary payment plan with the person. Prior to accepting/declining the terms, advise them to fill out a financial affidavit - listing al of their assets and liabilities, including the bank name and account number. They should be willing to provide the financial statement, afterall they are attempting to persuade you to grant them time. In return, to be fair and on the level, you should consider accepting the payment plan. If, however, they default or offer an unacceptable proposal, you have the information you need.

Finding someone's job is a lot easier and, in most states, you'll find going after a wage garnishment to be more productive, anyway(you never know when money is in a bank, or how much, or even if all of their money is going into the bank account)...and, worst of all, you get one shot at it. As soon as the person knows you've gone after their bank account they won't make future deposits into it. Wages, on the other hand, come like clockwork and are easily the best way to retire a judgment. If you need hints on finding someone's job, there are folks out there who do only that. Findjohndoe.com comes to mind.

I hope that helps.

Mike

---------- FOLLOW-UP ----------

I'm up on all this as I filed a FiFa and the debtor literally perjured himself on the interrogatories by giving completely false information with an inaccurate phone number, stated he had no assets etc.  Through research I have paperwork stating he owns property in joint tenancy as well as other items. He states that he is out of business although he is not.  As I stated before the law protects the debtor and does absolutely nothing for the plaintiff.  I have invested many hours doing this and thought you would share one of your "easy ways" to accomplish finding a bank account but I suppose it really isn't that easy so I guess what I will do is pay for a bank search through a reputable company.  
Peverell
 
Posts: 39
Joined: Sat Jan 18, 2014 7:39 am

Fair Credit Act

Postby Dario » Sun Nov 27, 2016 11:00 am

See below as I asked this question and the attorney, Jason Barnette, Esq. could not answer it, claiming it was outside of his expertise Some expert, what a joke.  How hard is this question to answer for a Collection Attorney?

:

If I am reading the Fair Credit Act correctly, I am entitled to a credit report on the Judgment Debtor. I have obtained a judgment via small claims court entitling me to collect what is owed me.  IF this is correct, where can I obtain the credit report as the major credit agencies refuse to help me.

ANSWER: Hi Carol.

I don't believe you are entitled to have a copy of the credit report just because you obtained a judgement on someone. My understanding is that you have to have the consumer's consent prior to obtaining a copy of the credit report. I think that's why you are running into difficulties with the credit bureaus.

, though...why do you want a copy of their credit report? If you are looking for assets(house, bank, job, etc) to enforce your judgment, you don't need a credit report. There are easy ways to locate someone and/or their assets. Is that what you're trying to do?

Please let me know and I'll be happy to help you further.

Warm regards - Mike

---------- FOLLOW-UP ----------

Yes, I am attempting to find out where the debtor has a bank account that can be garnished.  After reading the Fair Credit Act(618. Jurisdiction of Courts Limitations of Actions   15 U.S,C.. 1681p_ it appeared that based on having a court judgment the plaintiff could request of copy of the debtor's credit report.  It appears based on what you stated the law protects the debtor and not the plaintiff in judgment cases.  I do not want to pay someone 50% of my judgment which seems unfair and therefore am trying to obtain the information needed myself.  I am not trying to locate the debtor himself, just the bank account so if you have so if you are willing to share one of your easy ways, it would be greatly appreciated.  Thank you.

ANSWER: It's a privacy issue regarding credit reports. With identity theft on the rise(and constantly in the media#, expect things like access to credit reports to become increasingly more strict. And probably for good reason.

As it relates to location of assets, finding someone's bank account information is without doubt the most difficult. If it's a business, it's a little easier #simply follow...or hire a PI to follow...the person after work and see what bank the deposit is made to). I know that sounds very "cloak and dagger", but it's how it is done. You don't need the account number, just the bank. If it's an individual, it's really tough unless they give you the information voluntarily. One tact most often taken is to enter into a voluntary payment plan with the person. Prior to accepting/declining the terms, advise them to fill out a financial affidavit - listing al of their assets and liabilities, including the bank name and account number. They should be willing to provide the financial statement, afterall they are attempting to persuade you to grant them time. In return, to be fair and on the level, you should consider accepting the payment plan. If, however, they default or offer an unacceptable proposal, you have the information you need.

Finding someone's job is a lot easier and, in most states, you'll find going after a wage garnishment to be more productive, anyway(you never know when money is in a bank, or how much, or even if all of their money is going into the bank account)...and, worst of all, you get one shot at it. As soon as the person knows you've gone after their bank account they won't make future deposits into it. Wages, on the other hand, come like clockwork and are easily the best way to retire a judgment. If you need hints on finding someone's job, there are folks out there who do only that. Findjohndoe.com comes to mind.

I hope that helps.

Mike

---------- FOLLOW-UP ----------

I'm up on all this as I filed a FiFa and the debtor literally perjured himself on the interrogatories by giving completely false information with an inaccurate phone number, stated he had no assets etc.  Through research I have paperwork stating he owns property in joint tenancy as well as other items. He states that he is out of business although he is not.  As I stated before the law protects the debtor and does absolutely nothing for the plaintiff.  I have invested many hours doing this and thought you would share one of your "easy ways" to accomplish finding a bank account but I suppose it really isn't that easy so I guess what I will do is pay for a bank search through a reputable company.  
Dario
 
Posts: 45
Joined: Thu Jan 02, 2014 4:33 pm

Fair Credit Act

Postby Joram » Sun Nov 27, 2016 8:01 pm

After a lifetime in collection agency management, I can only agree that the laws are definitely tilted against those who are simply trying to get paid. It stinks. Welcome to my world.

Since you're obviously knowledgeable, I'm sure you know you don't have to hire an agency to collect the debt for you. Paying "50%", as you said, is unnecessary. Simply negotiate a flat rate for the location of a bank account and then set off on your own to enforce collection. Since your guy is hiding assets and has a history of perjury...don't be surprised, however, if his banking accounts are in other names, as well, and the agency cannot locate anything. I still think your best bet is to go after wages if you can.

Regardless, I absolutely wish you the best of luck. I'd like nothing more than to see the good guy win.

Warm regards - Mike
Joram
 
Posts: 40
Joined: Sat Jan 18, 2014 11:31 pm


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