Sign New Mexico Banking Cease And Desist Letter Now

Industry sign banking new mexico cease and desist letter now

hey guys welcome to our video this is john watts i want to talk to you about a situation where it makes sense to send a cease and desist letter so a cease and desist letter is when you send that to a debt collector and you say i don't have any more contact with you okay you can also say i refuse to pay you and that's the same thing as a cease and desist but the point is you're telling that debt collector i don't want to hear from you again now there's a few little exceptions where they can write you a letter but basically it cuts off all communication so text messages phone calls letters all of that's gone so when would you use it well i would recommend using that when it's a really old debt and it's so old that they cannot credit report remember that's about seven and a half years from when you stop making your payments and it's too old for them to sue now that might be three years might be four years six years it just depends but when it's the the debt's too old to see too old to credit report then all they can do is call you on the phone or write you letters and at that point yeah send a c sent assist letter so there's no magic language to it you know i would send something very sort of general that says i'm requesting you cease communication on any debt that you say that i owe which i deny owing to you and you know if you're confused then let me know why you're confused you know here's my information so they can find you now what they most likely will do is not communicate with you anymore instead they'll sell the debt or transfer the debt to somebody else now your cease and desist letter does not follow to the new debt collector so when that debt collector contacts you if you're confident it's too old to credit for it too old to sue send them a cease and desist letter and when you find one that breaks that now again within the law we have a video and we'll put a link up to it it's one of our i think we have like 18 part series on the fdcpa fair debt collection practice design but there's a few exceptions but if it's outside those exceptions and they call you or they write you or they send you a text message then you have a claim most likely under the fdcpa and if it's a text message or an automated call then you may have a claim under the telephone consumer protection act that this was on your cell phone so just to give you a few things to think about when it might be appropriate to send a cease and desist letter and i hope that you found this helpful and i'll talk to you guys in the next video okay bye-bye