Advosluth Posted April 27, 2007 Report Share Posted April 27, 2007 If you have a sole proprietor business that you have CC's tied to and the business is shut down, you now become personally liable for the CC debt. Is the CC debt now consider personal consumer debt? Can it be disputed through DV the same as consumer debt? Does consumer law or business law apply? Link to comment Share on other sites More sharing options...
willingtocope Posted April 27, 2007 Report Share Posted April 27, 2007 If the CCs determine that the credit was used in the course of conducting a business, they will claim that the FDCPA does not apply. (Probably true),On the other hand, I did have some success is chasing CAs away by claiming that once it appeared on my personal credit report, it was personal and therefore the FDCPA does apply.So the answer is...maybe. I'd suggest acting as though its a personal debt and see where it leads. Link to comment Share on other sites More sharing options...
Ahntara Posted April 27, 2007 Report Share Posted April 27, 2007 Most business related CC's required a personal guarantor. As a PG, you'd be personally liable. Link to comment Share on other sites More sharing options...
Advosluth Posted April 28, 2007 Author Report Share Posted April 28, 2007 Understanding that the business debt makes the sole proprietor liable when the business shuts down, can the liable party ( who has the PG ) dispute the debt through DV and the FCBA? If the CC's were issued in the PG name and tied to the business, would'nt it be the same as the PG taking out a personel CC in his name? Link to comment Share on other sites More sharing options...
IHateCAs Posted April 28, 2007 Report Share Posted April 28, 2007 Under the FDCPA, no protection. Under the FCBA, I dunno. I'd have to read the definitions to see but I'm gonna guess no since the FCBA falls under the CONSUMER Credit Protection Act. Link to comment Share on other sites More sharing options...
Advosluth Posted April 28, 2007 Author Report Share Posted April 28, 2007 Thanks " IHateCA's ". I like the quote about the letter, if there were one it would be truely " Priceless ". I guess what I am looking for is what is the debt considered now that consumer has become liable for it, I mean the consumer is paying it. Link to comment Share on other sites More sharing options...
flacorps Posted April 28, 2007 Report Share Posted April 28, 2007 Check out the Moore decision:http://www.debt-consolidation-credit-repair-service.com/forums/showthread.php?t=260866&page=2 Link to comment Share on other sites More sharing options...
IHateCAs Posted April 28, 2007 Report Share Posted April 28, 2007 I think most universally agree that the Moore decision doesn't hold water. Link to comment Share on other sites More sharing options...
flacorps Posted April 29, 2007 Report Share Posted April 29, 2007 I think most universally agree that the Moore decision doesn't hold water.Some judges do what they want. It's nice to be able to give a judge like that an excuse to do so. Then it would be up to the other side to appeal... Link to comment Share on other sites More sharing options...
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