My questions have probably been answered in the 65,000+ posts on the site, but I only have 20 days. My debt is legit and I owe a little over $18k. I offered to make payments in the past, but the creditors only wanted one payment to pay it off. I was out of work at the time and couldn't pay. I then took a job, which I will get into in a sec, in which I could afford monthly payments, but was rebuffed. To my job, I am a securities broker, so any thoughts on this would be appreciated as well. I know if there is a judgment against me it will be reported to the SEC or FINRA. Will I lose my job because of this? Anyway, what the heck do I do. I will happily make payments, will this be accepted? I don't have $18k to pay these people. Thank you for your help, it is certainly appreciated. J in Florida
How old is the debt? Is it past the statute of limitations in which you can be sued? Make sure to be at the court date. If not, they will issue a default judgment. Tell them you want to see a 'bill of particulars' in which to validate the debt. If the debt is old or has been past around to several creditors, they may not be able provide the proof.
SLOW down. Tell us the facts of the case. Such as who the OC is or was? HOw is it reporting? Is a JDB involved? Who and who is the CA? Don't worry right now as MANY MANY times these things can be taken care of VERY easily. Oh DO not give us personal details such as account number and your name. RELAX I know you are angst ridden but this too shall pass. We are here to try to help you. After you give us the info, and you are not one to go pro se, you will need to get a consumer lawyer to take the case . CALM down, and tell us the problem in detail. Woofer
Ok. This is for two different accounts, both of which defaulted near the end of 2005. The attorneys are Joseph Paglino and Edward Degenhardt of Paglino & Degenhardt. The plaintiff is Unifund CCR Partners Assignee of Palisades Collection LLC. The original banks were Citibank and First USA. I don't know anything about this, so let me know if I need to include anything else to help. Do I ask for the 'bill of particulars' in writing before the court date or at the court date? There is a third bigger default outstanding that has not yet filed. This one was 20k at default, probably now 40k after fees. Should I consider bk? Other assets that are in good order are two vehicles (one with a loan) and two houses (one upside down), however I am cash poor. I had one of the houses on the market during the housing meltdown, but could not sell. J
So Citibank and First USA are not listed as plaintiffs? Unifund is looking for an easy default , especially since the Assignor is Palisades, another collection agency.
No neither bank is listed as plaintiff. It says: Plaintiff is the owner and holder of the debt pursuant to an assignment agreement from the original creditor, Citibank South Dakota NA and lists the last four of the account number. Plaintiff is the owner and holder of the debt pursuant to an assignment agreement from the original creditor, First USA Bank NA and lists the last four of the account number.
So by default you mean charge off? When was the last time you used the account? ie DOLA HAHAHAH IME UNIFUND will not have ANYTHING and neither will PALISADES If Citibank is no longer the OC, then it will be much easier. I had a case with Citi., and settled with them for half of what they wanted, BUT ona counter I got twice as much as I gave ; ) As for First Card, I think you are really going to be lucky, as their records are not as good as Citi, IMO, and when I butted heads with Unifund who got the account from First Card they were trying to get 30K from me, THEY GOT NOTHING, as they could not prove that they owned the debt. : ) Not sure what you mean by bill of particulars? When was the first dunning letter(letter received first from these debt collectors) and did you ever demand validation?(Send a request asking for debt validation) Who is this? Have you just been ignoring everything, or are they all just popping out of the woodwork? I can't answer this for you but a lawyer could. I will just tell you that several years ago I owed over 300K and did not file bankruptcy and now I am almost finished with my problems except for one : ( I didnot want to do a bankruptcy and for me it was the ay to go. Do you get a pay check or are you self employed? Each of these debt if it comes to it will settled for a LOT less (think 30 percent MAX) Can you get your hands on this kind of money? Do you make good money? So you say you owe about 50K? The JDB's will settle for sure,and if you want to pay them off as a nuisance ,you can do that as well, BEFORE you even go to court, but then again if you get a good lawyer , all of this may go away and you also may wind up with some moolah. : ) J[/QUOTE] Woofer
Ok, don't know a lot about this so talk to me like I'm 6. By default, I do mean charged off. How do I know if citi is the OC (and what does OC mean?). Bill of particulars was from the 2nd post, I don't know what that is either. First dunning letter must have come in 2005. The third one I'm worried about is Bank of America. it was 20k when charged off, but with interest and fees they want something like 40k now. And yes, I ignored it, never been in this situation. Just went and hid from it all. I guess they've found me now. Make decent money now, but only have about 4-5k in cash which I could afford to pay. Had a bad 1st quarter, so bonus not going to be good, maybe 2k on 5/15. What do I need to do now. Was served last night, so as of tomorrow morning I guess I have 18 days till court. Very worried.
Ok and do you have your credit reports? If not you are going to need them. Original Creditor = OC. This is why you need your credit reports=cr. If it is showing a ZERO balance and also says transfered or sold Citi is no longer the OC. Do you have any of the letters? Have you moved? What EXACTLY does the summons say?Scan it but delete personal info. Woofer
It sounds like he should look for the general denial threads. If he's dealing with JDBs and they have no paper, it's possible he could get out of this cheap. But my view from the cheap seats is that he's going to definitely put on a strong front before trying to negotiate. Don't let them smell your fear.
Advise Froma A Fellow FA / FC If you are SUED and they win & garnish your commission, your company will MAKE you adjust your U4. Talk with your manger and someone in HR, you should not be fired..
Did you make any payments to the company that is currently the owner of the debt and is suing you? If you did, they will probably have record and this could form the basis of an account stated argument. My understanding is that Florida has a 4 or 5 year SOL. You'll need to check your case law to figure out what the rules actually are. You could see if they will enter into a stipulated payment plan with you. If you default, they will have it worded that you accept a judgment for the full amount. Of course, if you've got other debts, this can just make any of them, who might be watching all this from the sidelines, think it's time to get into the action.
The OC is whoever you had the business relationship with. Keep everything that they send you, including the envelopes. What does the summons and complaint say you are supposed to do? If it says you need to appear and answer, then that generally means you should send in an appearance and answer to the court and the people who are suing you. If it is small claims, that generally means you have to go to the court on some stated day and time. But if it is a higher court, you could be in for a long haul. This could even take a year or more. Of course if you don't appear and answer, it could take them the 20 days plus a few to get the default judgment. They like that.
