Hi all. Finally called back a particular collection agency that has been hounding me, and they said they were going to take me to court if i didn't settle by the first of the month . the original debt is 3300, and they said court fees would be another 1500 . They offered me a settlement amount, but it wasn't that great. What are my options here? I don't want the settlement on my record... I'm in TX, and the debt is about 4 or 5 years old. I'll have to check my credit report when I get home. Thanks!
Must-Read Threads: Unofficial Creditnet FAQ (off-site, includes links to everything from getting started to finding Goodwill, Nutcase, and other approaches, and more) -- Nave NEVER deal w/Collection Agency -- Marie Lizardking method for small claims -- Lizardking Lizardking credit repair lawsuits -- Lizardking This board is being watched -- LKH Going Into Battle For 1st Time -- TAT with Lizardking & LKH [et. al.] Rule of "72" And Your Score -- Butch What is Validation? -- Butch Validation Must Reads!!! -- humblemarc Tip: Get a Litigious Mindset -- PsychDoc Goodwill (& Nutcase) Letter evolution -- PsychDoc with marci [et. al.] Insurance and credit scoring -- breeze Credit Card Approvals with BK -- NanaC Top 100 mistakes in credit repair -- JohnM ....................................................................................................
Okay, I'll RTFM next time... Thanks for the link to the most read threads! I think I shot myself in the foot yesterday. Like an idiot, I called the agency back. (as I indicated in my original post) He asked if I remembered the debt, I said years ago I might have had the card, what's the amount, what's the settlement you're offering, I'll get back to you, etc. Did I just verbally agree that the debt was mine? Can I still go through the validation process? What are the chances that I'll actually get served a summons? He explained the process to me, and he was the "legal coordinator." found the CA webpage, and they seem to specialize in judgements... Help?
Re: Re: help! threatening a judgement .. Okay, I'll RTFM next time... Thanks for the link to the most read threads! 1* Like an idiot, I called the agency back. 2*He asked if I remembered the debt, I said years ago I might have had the card what's the amount, what's the settlement you're offering I'll get back to you, etc. 3*Did I just verbally agree that the debt was mine? 4* Can I still go through the validation process? 5*What are the chances that I'll actually get served a summons? 6* he was the "legal coordinator." 7*found the CA webpage, and they seem to specialize in judgments... outlandr23 ================== 1*You said it I only thought it. 2*Bad call 3*You made an error. Errors are made for correcting. 4*Yes with the validation letter. 5*95% to 99% of the time Cas can't validate. 6*Or so he said. Didn't validate that either did he? 7*What is the link to the web page? Who is it? THE END ** *** ** LB 59 """""""""```~~~```'"""""""""
Re: Re: help! threatening a judgement .. What is SOL in TX? This seems close enough that if you stall them it won't need to be paid.
Re: Re: help! threatening a judgement .. THe SOL on cc debt in Tx. is 4 years. You can't verbally reset the SOL clock. Get those reports and figure out how old this debt is.
As has already been mentioned, the SOL is 4-years on credit card debt and although derogatory information can continue to be reported to the 4 CRA for up to 7-years from the date of last activity, the CA has no legal standing upon which to continue further collection activities. Furthermore, if they file any legal intruments in a Texas court, you simply need anser/counter sue due to the fact that the debt has exceeded the statute of liimitations. Sounds to me like you are dealing with some bottom feeding CA who is playing off your lack of knowledge. You should immediately research what is involved in firing off a properly worded Cease and Desist letter that includes langauge concerning the expiration of the SOL according to Texas statue. Okay - now obviously I am not going to ever advocate that you not pay back your debts, but even if the CA does file suit, there is not much to be gained in Texas. At most all the CA can expect to is to incur more costs due to legal expenses and the costs of filing suit. Even if you do not respond to the suit, and the CA is awarded a default judgement against you (not preferable), Texas does not allow garnishment of wages except to satisfy child support payments, and Federal tax liens. Other than a long term impact on your credit scores, the judgement will not mean much of anything else since there will be no legal vehicle available for them to collect on the judgement. Michael
I also want to point out something regarding the SOL. Even if the debt is still within the SOL, the CA still has to prove that it is. If they can't validate or show even when the last payment was made then the debt may as well be past the SOL.... After further consideration I think it is time to ditch the Mr./Mrs. nice guy - go for the throat! Take the initiative and sue them for violating FDCPA Sec. 807(2)(A) - False representation of the character, amount or legal status of any debt -- specifically for implying that they will bring suit on a time barred debt not too mention for trying to collect interest, penalties, and attorney's fees which are more than likley illegal under Texas state law since they have no contract with you. Also include a request for actual damages and monetary compensation as well as throw in a nice "reasonable" amount for legal fees. Michael
Re: Re: Re: help! threatening a judgement .. 1*ouch 5*i'll bank on that then. letters being generated. 7*www.gacc.biz is the CA.
You make this assement (incentive to sue) based on the fact that the debt is so old? They indicated that the amount I would be forced to settle for was a good 1600 more than the original claimed debt. On my credit report, the debt shows as sold by the OC, and I guess this particular agency took it on so recently that it's not showing up yet. Only found address information through the phone book. Thanks for the words. Today was my 'deadline' to respond.
1*Hi all. Finally called back a particular collection agency that has been hounding me, 2*They said they were going to take me to court if i didn't settle by the first of the month . 3*They offered me a settlement amount, but it wasn't that great. 4*I don't want the settlement on my record... 5*I'm in TX, and the debt is about 4 or 5 years old out land r 23 | =============== 1*Sorry to hear that you gave in. 2*I000 dollar violation if they don't do it. 3*No settlement with out deletion is great. 4*If the CA has reported your record is already trashed settle or unsettled. 5*What is the Texas SOL on this? if it's beyond that this is uncollectible """""""""```~~~```'""""""""" http://www.suite101.com/files/mysites/AskAlice/Clock.htm http://www.yugop.com/ver3/stuff/03/fla.html
