Is Telecheck a collection agency? I accidentally bounced a check to Wal-Mart. Somebody saying they were Telecheck called and said if I didn't pay the check plus $30 by April 13 they would add all kinds of fees and such. They started calling at 8 a.m. on Friday. In Ohio the laws say they must send something in writing:
A creditor may recover from a person who issued a dishonored check compensatory damages to the extent of the value of the check plus service charges, liquidated damages, costs, and reasonable attorney fees if a written demand in a prescribed format was sent to the person, and no payment or agreement for payment was made within thirty (30) days of the written demand.
The amount of the liquidated damages may be a minimum of $200 or three (3) times the amount of the amount of the check and all bank service charges.(O.R.C. 2307.61(A)(1)(b).)
The written demand must be sent by certified mail with return receipt requested, and generally must contain a conspicuous notice to the person upon whom the demand was made, a description of the property, a notice that if payment or agreement for payment was made within thirty days that no civil action can be brought, and that if payment or agreement for payment was not made within that time period that legal action would be pursued. The creditor is also required to
specify in the notice the potential judgment which that person may be required to pay, and that person's right to damages, reasonable attorney fees and costs in defending the case if the creditor does not prevail in the action. (See O.R.C. 2307.61(C).)
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.