Credit Cards

[Radiant3]

5 years ago I bailed a long time friend out of jail.  He made a stupid mistake while on vacation in Vegas.  He later told me he had paid a fine and everything was OK,  With 15 years of friendship behind us I never thought about it again until a collections agency from the bond co showed up on my credit report.  As it turns out he never hired a lawyer and just ignored it.  This sort of thinking is probably why we are not friends now.  I had the collections people contact him but I was wondering if it was adventatous to freeze my credit report or add a note to it.  Also can I request my address be changed to a PO Box?  Prior to this incident my score was close to 800 +/- now its around 650 due to this - any advice?

[ilovepizza]

I don't know. But your friend probably has a warrant out for his arrest.

[HappyDays]

I have no idea what state you are in or how collections work for bond agency.BUT  I think any CA can be DVd.  I would send a DV to them & be sure that you send it CNRRR. They must follow the same rules as all other CA. If this was 15 years ago   what the he!! do they think they are doing?

If not in legals  everything falls off CRA after 7 -7.5 years.

In my book they are already in violation.

Please wait for 1 of the PRO's to answer you.

Message Edited by HappyDays on 07-26-2007 02:04 PM

[FICO_Focused]

I would check the state statute on SOL it is six EVEN 10 years with sig in most states... Bail bonds defintely have signatures on dotted lines. If they're calling you send them a cease and desist letter. I would DV the OC as well.

Rob

Message Edited by FICO_Focused on 07-26-2007 06:30 PM

[FICO_Focused]

Freezing your profile with CRA will NOT prohibit anyone with PP from pulling your CR.

Rob

[Noah_Bodie]

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Radiant3 wrote:

5 years ago I bailed a long time friend out of jail.  He made a stupid mistake while on vacation in Vegas.  He later told me he had paid a fine and everything was OK,  With 15 years of friendship behind us I never thought about it again until a collections agency from the bond co showed up on my credit report.  As it turns out he never hired a lawyer and just ignored it.  This sort of thinking is probably why we are not friends now.  I had the collections people contact him but I was wondering if it was adventatous to freeze my credit report or add a note to it.  Also can I request my address be changed to a PO Box?  Prior to this incident my score was close to 800 +/- now its around 650 due to this - any advice?

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As was suggested, DV it. A collection is a collection is a collection.

Something does not sound right about this. I have no first hand knowledge of the inside of a jail cell--surprising as that may be for some to believe--but I have some idea about how the process works. Bailing out your friend should in no way make you liable for a collection related to his legal adventure.

One posts bail, generally in cash or other guaranteed funds. Don't show up for court, then you don't get your money back and a bench warrant gets issued for the accused--your friend.

If the bail is too high to pay in cash, then one puts up something of intrinsic value (car note, deed to a house, etc.) that will cover the bail, and one pays the bond company a fee, normally 10% I think, of the total bail. The bond company as well will demand cash or certified funds. Some might take a car, property, jewels, or other items of inherent value. Small children have in the past been used as markers, but I'm told there are laws against that sorta thing now. FTA on a bond company, and they will come and get the accused--again, your friend. The item of intrinsic value will get forfeited.

Unless you signed something pledging payment, rather than coughing up some cash or charging it on your CC, I don't see how a CA could be after you for this.

Yep, talked myself into advising you to DV the CA. See the link in my sig.

Message Edited by Noah_Bodie on 07-26-2007 04:04 PM

[flygirl]

Yep, totally agree with Noah.....I don't get your position in this matter. If you bailed him out, I'm assuming with cash/credit card, what are they trying to collect....and why are you the culprit?

[FICO_Focused]

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flygirl wrote:

Yep, totally agree with Noah.....I don't get your position in this matter. If you bailed him out, I'm assuming with cash/credit card, what are they trying to collect....and why are you the culprit?

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Sounds like FTA came with forfeiture of bond fees AND additional breach of contract fees. The Bond agents still have their money to worry about stuck in the courts. My bet is that they just called they guy that put up the cash deposit against whatever collateral was also offered.

Rob

[FICO_Focused]

DV the heck out of them.

Rob