South Dakota Account Stated for Construction Work

State:
Multi-State
Control #:
US-0160BG
Format:
Word; 
Rich Text
Instant download

Description

An account stated is a statement between a creditor and a debtor based upon a series of prior transactions. Hence, an account stated arises when a particular amount is owed to the creditor by the debtor as of a certain date. An account stated refers to either an agreement itself or to the assent giving rise to the agreement. The agreement to pay the balance amount can be either express or implied. When the agreement to pay is in the nature of a computation, then it is called account stated.
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FAQ

Debt collectors cannot harass or abuse you. They cannot swear, threaten to illegally harm you or your property, threaten you with illegal actions, or falsely threaten you with actions they do not intend to take. They also cannot make repeated calls over a short period to annoy or harass you.

Debt collectors are legally obligated to send you a debt validation letter. If you don't receive a debt validation letter, or it lacks detail, you can make a debt verification request. You can file a complaint with the Consumer Federal Protection Bureau or the Federal Trade Commission.

A debt collector may not contact you at inconvenient times or places, such as before 8 in the morning or after 9 at night, unless you agree to it. And collectors may not contact you at work if they;re told (orally or in writing) that you're not allowed to get calls there.

Debt collectors have a certain number of years they can sue you and win to collect a debt. It's called the statute of limitations and it usually begins when you fail to make a payment on a debt. In South Dakota, the statute of limitations is six years.

Although there may be instances where doing that may violate your rights under fair debt and credit laws and other must know consumer statutes, it is usually legal to refuse partial payments. In such situations, your best bet to get rid of that debt may be to consult a debt settlement or bankruptcy attorney.

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South Dakota Account Stated for Construction Work