Does anyone know the answer to this? I'm sure someone does since you all have so much knowledge on this stuff ..it's amazing! Can a debtor have someone else deal with their debts, i.e. contact creditors on their behalf or is a power of attorney needed? My guess would be that the creditor would require signed documentation stating that someone is acting on the debtor's behalf before talking to them on the phone but I am hoping to be able to help my friend out without drafting documents.
Creditors should be dealt with in writing not over the phone. I would suggest you help your friend by drafting letters only.
Yea I know that. However, this has to do with an auto loan that was just charged off last week and he wants to pay and wire them the money before any further adverse action is taken. This is why we want to do it over the phone rather than in writing.
I am sure a POA would do... although I agree that matters like that should be done in writing only.. (FAX if you are desperate)
Hmmm..maybe I will try a fax..although everyone told me on another thread when I posted my friend's problem to have him call. Problem is he's been out of town for over a week and the matter is rather urgent.
There is a form for this sort of thing that gives one "Full Power Of Attorney." You would become attorney in fact over your friend's financial affairs. I know the rights and limitations in my own industry for this, but I believe it is potentially a more comprehensive relationship than I usually see. I would imagine a search on the web under "Full Power of Attorney", or "Attorney in Fact" would get you where you need to go, with some sifting. By the way, I'd be very careful with this. You could end up being sued if things go badly for your friend. Along with control goes responsibility.
There is also a limited power of attorney which I think would be more appropriate than a full. In it you can authorize someone to be your agent in various matters (for example banking or real estate transactions). I think its a bad idea to give someone a full power of attorney when they don't need all of those powers. I am still not quite sure if an agent with a limited power of attorney is able to just sign your name or if a little disclaimer is reuired afterwards. If you do a little searching on the internet you will be able to find a copy of boilerplate for a limited power of attorney.
Thanks! I know how to draft a limited power of attorney but just wasn't sure if it was needed simply to call a creditor on his behalf. Thanks!
Yes, you can do it! I have done it with all of my wife's affairs and deal with the creditors and CA's all the time. This is important because if you are to sue any of these people they would only want to talk to the person the account belongs to. This has been a problem for me when I first started credit repair for her. When the creditors call in response to my letters they wanted to talk to her. She hadn't a clue about what they wanted or about credit repair laws. She always just gave me the phone and said here is my husband talk to him about this. That is when I went out and bought one of those legal computer programs at Best Buy and was able to print out a full power of attorney giving me power to handle all of my wife's affairs. It had to be notorized though. I have had to fax this to several of her creditors when they call me asking for her. Once they have it they have no problem talking to me about it. In all of my future letters that I write about on her behalf I always state at the end....My husband XXXXXXX had full power of attorney over this matter and all contacts or correspondence should be directed to him as (222)123-4567. This seems to have done the trick because they now call asking for me and do not even want the proof. Good Luck! Tac
