I really need some help badly. I received summons from one of my credit card companies for an arbitration on June 11th, 2004 (this Friday). and I dont know what to do. I have $12,057 debt on my credit card. I havent paid them in about over 6 months. I ignored all their letters and phone calls in the past. But now I am scared, and dont know what to do. I have heard that there are some comapnies over the net offering to elimanate all unsecured debt, for anywhere between $500 to $5000, They claim that they all do this by doing a letter campaign. Is that true? and if it is can someone direct me to one of those companies. Also since I dont have too much time before apprearing in front of the Arbirator. Should I just not go or ??? I will appreciate any help from you guys. Buy the way I live in Dupage county, Illinois. and my credit card company is Discover. Thanks in advance for any help. P.S. I have seen some letter over the net for Arbitration purpose. But I am not sure if they can or will work for my situation. PLEASE HELP.
Re: I Have received summons for Arb congrats on coming to the right place to start taking responsibility for your debts and find the best way to do so based on others experiences. This is step #1. I know from personal experience that it's very difficult to emotionally come to the place where you can deal with a past due creditor, but it can be very rewarding at the same time. I've been reading here for months and feel very, very empowered and actually have gone from scared and shaking in my boots. One thing I would say is do NOT ignore this. What would it hurt to show up and see what they have to say? A question for you, though. Are you judgment proof? Or, do you have a job but just don't make enough $$ to pay small payments?
Re: I Have received summons for Arb If I am understanding "judgment proof" that I dont have any assets. Then I am. I only have a car and I have been unemployed for little over 2 years now. I am surviving on my little left savings and some help from family and friends.
Re: I Have received summons for Arb If I am understanding "judgment proof" that I dont have any assets. Then I am. I only have a car and I have been unemployed for little over 2 years now. I am surviving on my little left savings and some help from family and friends.
Re: I Have received summons for Arb then what do you have to loose from going to the meeting? Granted it's emotionally difficult -- I'll grant you that. But truly you're only one step from bankruptcy. So if they push too hard you'll just defend yourself with a BK (if you even have anything to protect.) On the bright side, perhaps they'll just figure out that you have no $$ and go away (perhaps overly optimistic.) If they figure that you'll get a job one day, they'll likely file for a judgment and then just sit back and wait for you to get $$ again. I do hope that you don't have your savings $$ in a bank account in your name, because if they get a judgment against you they'll snap that out of there so fast. You should read up on judgment proof to ensure you have all your bases covered.
Re: I Have received summons for Arb I just love this group that everyone over here is so nice. +++++++++++++++++++++++++++++++++++++++++++++++ One more Thing to pick all of your brains again. On the summons it says DISCOVER BANK V. MY NAME AND ADDRESS (before these Summons I received a letter from an attorneyâ??s office saying that â??We have been retained by Discover Bank, issuer of Discover Cards, to collect the amount you owe on your Discover Card number xxxxxxxxxxx. Then blah blah blah. It is now the desire of Discover Bank that all payment or contacts be made directly with our law firm.â? With the Arbitration Summons I also received a letter with 8 different points and I donâ??t know how to answer them. Can anyone help: 1) Plaintiff, DISCOVER BANK, is a Delaware banking corp. that issues credit cards to consumers under the name of, DISCOVER CARD, for the purpose of purchasing goods and services. 2) Defendant (s) reside at, address, city, state, and county. 3) A credit card, number xxxxxxxxxx, was issued to Defendant(s) by Plaintiff upon request, and Defendant(s) agreed to pay Plaintiff all amounts charged by use thereof. 4) An agreement containing the terms and conditions governing the use of the aforesaid credit card, including the terms for repayment was mailed to Defendant (s) and is attached to this as "Exhibit A." 5) Thereafter Defendants (s) incurred charges by use of said card. 6) At regular intervals Plaintiff submitted to Defendant (s) monthly statements demanding payment of said account together with other information in support of said statement. 7) Defendant (s) defaulted by failing to make the requisite payments under the terms of the agreement. As a consequence of said default, and as of the date hereof , Defendant (s) owes Plaintiff the sum of $11K+ for principal, as shown in "Exhibit B" attached hereto and $200 for interest, plus continuing interest on the outstanding principal balance at the rate of 19.800% per annum. Although duly demanded, payment has not been made. 8) There is further due to Plaintiff from Defendants (s) the sum of $400 as and for attorney's fees as provided for in the instrument exemplified by "Exhibit A" attached hereto. Wherefore, Plaintiff demands judgment against Defendant (s) in the sum of $12k+ plus Plaintiff's costs of suit, together with interest at the rate of $6.21 per day from April 6, 2004 until entry of judgment. +++++++++++++++++++++++++++++++++++++++++++++++ That was the letter now in their next page they included an affidavit from a Lady name N. ROSE (this is her complete name in the letter), State of Ohio county of Franklin, saying that she is a LEGAL PLACEMENT ACCOUNT MANAGER for , DISCOVER FINANCIAL SERVICES INC., the servicing agent of DISCOVER BANK, an FDIC insured Delaware State Bank. This affidavit was made on the basis of her personal knowledge of the account. she went on to say, "THAT, in my capacity as Legal Placement Account Manager, I have control over and access to records regarding the Discover Card Accounts of the above references Debtor (s), further, that I have personally inspected said Account and statements regarding the balance due on said account. DISCOVER FINANCIAL SERVICES, INC. maintains these records in the ordinary course of business. That the annexed statement of account is a true and correct statement of what is now due and....... I declare under penalty of perjury that the foregoing is true and correct to the best of my knowledge. Then she Signed as N Rose" +++++++++++++++++++++++++++++++++++++++++++++++ I am going to be in the court tomorrow morning at 9 AM. One more thing the only document that I signed was the initial application to apply for the credit card and the checks that I sent to the company for my payments in the past. Beside that I did not signed or agreed to anything (verbally or in writing)
Re: I Have received summons for Arb Just an update. So I was so nervoues when I go there. There were only 10 or 15 people were there. and at one time seems like there were more attornies then the regular people. So anyway, When it came to my turn judge asked me if I acknowledge the credit card debt, Which I denied and he told me to come back in July to answer that why I am not aggreeing to the debt. Now I will need more hlep from you guys. What should be my next step?
Re: I Have received summons for Arb Just an update. I went to the court today. So I was so nervoues when I go there. There were only 10 or 15 people were there. and at one time seems like there were more attornies then the regular people. So anyway, When it came to my turn judge asked me if I acknowledge the credit card debt, Which I denied and he told me to come back in July to answer that why I am not aggreeing to the debt. Now I will need more hlep from you guys. What should be my next step?
Re: I Have received summons for Arb Just an update. I went to the court today. I was so nervoues when I go there. There were only 10 or 15 people, and at one time seems like there were more attornies then the regular people. So anyway, When it came to my turn judge asked me if I acknowledge the credit card debt, Which I denied and he told me to come back in July to answer that why I am not aggreeing to the debt. Now I will need more hlep. What should be my next step?
Re: I Have received summons for Arb One thing you can do is ask them to document everything, including the balance, interest calcluations and attorney fees. Thats a start.
Re: Re: I Have received summons for Arb i must have missed something...if it is your debt, why would you say it wasn't? isn't that like perjery (sp?) or something?
Re: Re: Re: I Have received summons for Arb I denied the actual amount that they are asking for. Not the debt.
