I have an old Providian account that is now being handled by the infamous Trauner, Cohen, Thomas law firm. The oc charged off the account in 2003. The DOLA was also 2003. I live in Georgia and SOL is 4 years. The current "balance" is around $2500.00. They told me they woulld only settle it for $1400. I spoke with Trauner, Cohen and they are not backing off this account even though it is out of statute. The guy told me today they will likely sue me and garnish my wages. I've heard horror stories of how there are judges who will grant summary judgments regardless of how strong a case the consumer has. Im wondering if I should just cave in and pay these guys off and be done with it or risk being sued and hopefully getting a judge who will pay attention to the fact that it is past SOL. Im trying to get a mortgage and I don't want to get my house and then get sued and garnisheed six months later and end up losing my house. Any advice?
No judgment will be awarded upon a debt that is time barred if you properly plead and produce evidence the affirmative defense that the statute has ran. Tell them to piss off . . .
The SOL doesn't end the obligation to pay in most states. They certainly can continue to try to get you to pay. They can't legally sue you and they can't threaten legal action they don't intend to take or can't legally take, these are FDCPA violations. But you are perfect, you need this settled and they have you for a few more years on the credit report. They would be nuts to back off. If he really said that, if he really threatened to sue, if you can prove he threatened to sue, get a lawyer. That sounds like he is threatening an action that he cannot legally take. Of course he'll deny it if you sue, so I wouldn't go on just this one remark. I wonder if they'd like to put something in writing. Are you in a one party state where you can record your own phone calls? Really? Because what I've usually seen is that the consumer has no defense at all and therefore loses summary judgment. (Actually, they often have defenses but they don't mention them. I assure you that the Dumb Bob mind meld doesn't work.) Of course the reason you are prime pickings even post the SOL is exactly because your reaction is common and even rational.
I am in GA and we are allowed to record phone calls without the consent of the other party. I spoke with an attorney back In February who suggested I get a recording device and I did. But I never had a chance to use it-they stopped the harassment. The account was close to the SOL limit and I think they were trying one final time to get me to pay. Of course they threatened law suits and wage garnishments, etc. but I didn't have a recorder then. Then they just stopped calling so I didn't deal with it anymore. Now Im trying to get a mortgage and this one account is preventing me from getting one particular loan. Im pre-aproved for FHA without resolving this account so that is probably the way I will go. So it is possible to get a loan with old accounts on your reports. The lender seemed to be impressed by the fact that the accouts had dropped of Trans Union and Experian and only showed on Equifax. I called Trauner & Cohen last week to see what amount they would settle for: I offered $500. The lady said it would have to be $1900. Then she said she would take the $500 payment if I would do it over the phone right then. I told her , no, I would need to have my attorney draw up papers that would attest to the fact that the payment would satisfy the account completely....it was at that point that she said, no. I told her that I know how this works: I give you $500 over the phone then you have my account number and suck out the rest later - or you say the $500 was only a payment toward the balance. She chuckled and basically told me to have a nice day. So be careful with these bozo's!! They will do or say anything to get you to part with your money!!! Trauner Cohen has been sued many times for violations - it doesn't seem to phase them.
