eSignature Licitness for Cease and Desist Letter in India

How to eSign a document: eSignature licitness for Cease and Desist Letter in India

thank you for clicking on the video today what i want to talk about is a cease and desist letter i want to talk about what it is how to send it and what to include on the letter um what it does and if you stay till the end of the video i'll give a bonus on an example i'll give you a actual template for a free one so stay tuned my name is jay and welcome to ask a debt collector i've been in the debt collection industry for over 15 years during that time span i've done it all from skip tracing to collecting to working in the legal department and management lastly i've owned two debt collection agencies over the course of that time during the last eight years i've been the go-to guy for friends and family for questions about debt now i want to be the go-to guy for you if you have any questions put them down in the comment i promise you i'll answer those questions let's go number one let's talk about what a cease and desist letter is basically it's a letter to stop a debt collection agency from calling yourself friends and family now i include friends and family because of this i don't know if um uh you guys out there have owed on a debt and you may have received a call from either a friend or a family saying that some company was contacting you um always said i mean as a debt collector and with the collectors majority probably 75 of the money that was made on the debt that we actually collected on was made from contacting third parties because a lot of times you as a consumer you know that you owe the debt but if i contact your mother-in-law your father-in-law your cousin your aunt sometimes even ex-wives or husbands a lot of times that's gonna get you as a consumer like hey you don't want none of them called anymore and so a lot of times i'll get you to pay but this letter will obviously stop that um with regards to that now there are two ways to actually send the uh ceasing desist letter obviously you can hire an attorney which is probably um the most cost efficient way but it it's more direct obviously a debt collection agency receiving a letter from an attorney it's going to take it a little more serious um from an attorney but the second thing and it's not that difficult is you can send it yourself right um a lot of times when you send it yourself you just want to make sure you include the date you want to make sure you include any account number and which that they have on file for you you want to include the actual debtor's name as well as i said the account number and um you you want to make sure you include those things in there because obviously if you just send a letter with your name on it it doesn't have an account number um you know most debt collection agencies obviously depending on the type of name that you have it could be multiple accounts with that in there so with that account number which you can actually get you can get your original account number from the debt itself or you can get an account number from the letter that they actually sent you in the mail an account number to reference the account uh for yours in particular so that that way you know if your name is john smith there's probably you know four thousand john smith so that he can specify that it's actually you so um make sure that uh you know you have those things in there you include the date the account number your first and last name and uh the debtor who actually was contacting you if you don't have a debtor the account number the original account number you can get it from your actual um credit report as well but you're gonna have to specify the type of account who it is that you are and the type of account that you have now key do not admit to actually paying the debt or anything along those lines because that can hurt you later down the road now what does a number three what does a um letter do well basically it's going to stop an agency from contacting you about the alleged debt right by law they're allowed but understand that that's not the end right so if you send the cease and desist letter to an actual agency it'll stop them from actually contacting you legally they won't contact you friends or family regarding the alleged debt but understand they are by law allowed to send you one more um correspondence with regards to what they plan on doing so a lot of times when i'm talking to consumers and they're asking me about sending the cease and desist letter i always ask do you are you working currently do you own any assets and to actually look up the company because if the company has an in-house or attorney or if they're known for suing people as soon as they get that cease and desist letter they're not able you lose your you lose your opportunity for them to contact you and to give you some type of settlement or to negotiate some type of monthly payment with regards to the debt so sending that out is great because it's going to stop them from contacting you but at that point in time they may sue you so if that company does sue understand sending that cease and desist letter can in fact have that company come after you with regards to a suit so as long as you understand that um with regards to that i would do some research on the company make sure they don't have an in-house attorney or they're not known for actually filing suits on accounts because if your account is in the statute the limitation you send a cease and desist letter just that understand that opens you up to actually uh being sued okay um another thing if your account if you sent a cease and desist letter to a a third party debt collection agency and that account that account was sold to another third party debt collection agency you're gonna have to send another letter to the other third party now understand the cease and desist letter is only for third-party debt collection agencies they're not for the original creditor so you can't send it to because they've been trying to contact you and get in contact with you to pay you only consented to a third party which is the not the original creditor um an actual debt collection agency now bonus for those of you who want a actual copy for free of a um template for a letter to send a cease and desist letter i'm gonna have down in the comments my email address send me an email in the email say cease and desist letter and once i get that email i promise you i'll send you an actual copy the copy that i have with regards to a um c synthesis letter all you got to do is just plug in what you need to plug in but i'll give you a template of one with regards to that so you just have to send me an email in the email just title it in the uh subject matter cease and desist letter once i get that email i'll send you a copy of that template um for you guys now if you have any questions put them down in the comment section i promise you i'll answer them and as always be great