(part 2) Colm McCarthy of UCD at the Trinity College Dublin ‘Economic Crisis Conference’ on the 20th of May 2009. at the JM Synge Lecture Theatre (Room 2039), Arts Building. His talk was about Pensions and Debt Management Slides to the conference can be found at the irish economy website here: www.irisheconomy.ie The conference agenda and speakers were as follows: Jim O’Brien, Second Secretary General, Department of Finance chaired the first half 1st speaker: John Fitzgerald of the ESRI on Competitiveness in Ireland and price levels 2nd Speaker: Karl Whelan of TCD ‘Potential output & the structural deficit’ 3rd Speaker: Brian Nolan of UCD on Equality. John McHale of NUI Galway (formerly of Queens University Canada) Chared the second half. 1st Speaker: Colm McCarthy of UCD ‘Irish Pension policy and debt management’. 2nd Speaker: Philip Lane of TCD ‘Current challenges for the Irish Economy’. 3rd Speaker: Patrick Honohan of TCD on Banks. Filmed by karl deeter of irish mortgage brokers www.mortgtagebrokers.ie with permission by Philip Lane and Patrick Honohan of TCD.
Video Rating: 0 / 5
Question by Matt: What do I do if the debt management company doesn’t make a payment for me on time? Can I sue them?
In early 2006, I signed up with a company to consolidate my credit card debt. The full amount was around $ 12,000, and that’s spread out over six cards.
This year I started making a good bit more money, so, in May, I called the debt management company and asked if they’d take an EXTRA payment from me that month, as soon as possible, in order to knock off most of the debt on two credit cards.
I thought I was clear and repetitive, but somehow they managed to ONLY pay those two cards that month of May and none of the others.
Now Bank of America has told me that this has been negatively reported to the credit bureau.
The debt management company, who made the error, is telling me, in so many words, that it’s my fault and that there’s nothing they can do. They tell me to call Bank of America, while Bank of America just shrugs and says, “We just report what comes in and what doesn’t.”
I asked for a call back from a supervisor at the debt management company, but there’s been none since I started asking last week.
I threatened to sue them, and they told me, in so many words, that that is not an option.
Can someone make a mistake that injures your credit rating and not be held accountable? I never missed a payment until now.
Best answer:
Answer by toocan
most likely part of your contract had an arbitration agreement that said you agreed not to sue them, but if you had a dispute, you would arbitrate. so, be prepared to fly to the city that the loan company’s corporate office is in, pay $ 2,000-$ 3,000 for you share of the arbitration fee, tell the arbitrator your side of the story, listen to the loan company tell their side, and see what the arbitrator decides (which is unappealable and legally binding). but keep in mind, you are the out of towner and the arbitrator pays the bills by arbitrating for the loan company, so whose side do you think he or she is on. sorry but your hosed
What do you think? Answer below!
Eksportfinans Seven-Step Cut May Spur Structured Note Liquidations, Losses
“Some investors may have to liquidate the debt and will get clobbered trying to sell it now,” said Tom Balcom of Ibis Wealth Management in Boca Raton, Florida, who doesn't own any securities from the agency. Eksportfinans, which helps foreign investors …
Read more on Bloomberg
