Posted on December 4, 2009 at 2:41 am Hi is it true that the new Indiana Debt Collection Laws would make it much easier for the creditors and collection agencies to obtain judgments against the debtors?

Posted on December 4, 2009 at 3:15 am I think it may have something to do with default judgments. I read somewhere that majority of judgments in Indiana are via default.

Posted on December 4, 2009 at 3:20 am I can think of two reasons how that would happen -1. A no show (the debtor failed to attend the hearing) 2. A no show (the debtor did not receive a notice)The question is, can that be contested, or can the judgment be reversed?

Posted on December 4, 2009 at 3:27 am I'll quote a site:The Weldon case makes it very difficult for Indiana consumers to challenge an arbitration award. First, and this is critically important, the challenge must be filed within three months after the award is "filed or delivered." What "filed or delivered" means apparently will depend on the rules of the entity agreed-upon (allegedly) to conduct the arbitration. In Weldon's case, it was the mailing of the award by U.S. Mail. Proof of receipt of the mailing is not required. This means that, as Weldon alleged in his case, the time to challenge the arbitration award could expire before the consumer has any idea that an arbitration was ever filed! If that happens, under the Weldon decision, the consumer is simply out of luck. Second, the arbitration award challenge must allege one of the following: (1) the award was procured by corruption, fraud, or undue means; (2) there was evident partiality or corruption in the arbitrators, or either of them; (3) the arbitrators were guilty of misconduct in refusing to postpone the hearing, upon sufficient cause shown, or in refusing to hear evidence pertinent and material to the controversy; or of any other misbehavior by which the rights of any party have been prejudiced; or (4) the arbitrators exceeded their powers, or so imperfectly executed them that a mutual, final, and definite award upon the subject matter submitted was not made. source: http://www.indianaconsumerlawyerblog.com/debt_collection/

Posted on December 4, 2009 at 4:01 am The Indiana legislature has apparently not enacted a significant supplementary state law that differs in any substantial way from the federal Fair Debt Collection Practices Act of 1977 (15 USCA § 1692 et seq.). However, residents are still protected under federal law.Source: http://www.helpfordebtors.com/indianaWhich legislation was not enacted?

Posted on December 4, 2009 at 4:14 am I think it has something to do with the term "collection agency" -- which doesn't include the collection arm of the credit card company - Indiana Fair Debt Collection Practices Act IC 25-11-11And Indiana Fair Debt Collection Practices Act IC 25-11-1-9...which has something to do with the time period for revocation or suspension of license - also about orders & notices, as well as investigations and hearings.

Posted on December 4, 2009 at 4:20 am Indiana may have a different law on collections - but that doesn't change the root of the problem, which is, the consumer owing them something, and they want to collect on it.The consumer should know that - once the collection agency calls, it is obligated to send a letter as well, within 5 days after that call was made - stating the ff:-the amount you owe-creditor information-what you can do to have that debt validated and how much time you haveThe consumer should also check for the statue of limitation on the debt.The consumer must not admit to it or agree to pay it, for the SoL to not reset.The debt should be validated first, before any payment is made.

Posted on December 4, 2009 at 4:22 am What if I can't afford to pay? Are they just going to sue me? Is there a way to negotiate with them - offer an amount that I can afford before they sue. That default judgment is bothersome.

Posted on December 4, 2009 at 4:26 am The important thing is to have that debt validated so that you can move on to eliminating that debt.You have two options for that unsecured debt:*If your debt amount is less than $10,000 - you may do credit counseling (Debt Management Plan) - what it can do is negotiate your interest rates so you could get at the principle amount. The plan runs from 3 to 5 years.*If it's more than $10,000, you can try debt settlement. Debt settlement can reduce your balance to more or less half, in 12-36 months.

Posted on December 4, 2009 at 4:27 am How much would it cost?