Sorry for such a frantic first post, but I'm in a bit of a panic. I got myself into a little bit of trouble just over 5 years ago with a low limit credit card. I ended up defaulting, moving, moving again, and forgetting all about it. Every now and then I meant to try and dig it up, but never got around to it. Well, fast forward to today, and I get a call from the Law Offices of Thomas Landis, Esquire about that debt. The account was closed and sold by the CC company at about $1250. This company claims I owe around $1800 from interest, etc. They claimed that their client wants to resolve this debt by the end of the month or they will seek legal action (or judgement? I'm not sure). That means they called on the 30th for it to be resolved by the 31st. Before today I had never heard or seen anything from this company, though they claim to have been trying to contact me since June. They offered only to fax or email something to legitimize their claim and flat out refused to send me a letter. When I finally got their email it was from an address @apmfinancial.com, and not the law office they claim to be. Once I brought up my concerns of their legitimacy, I was shuffled from person to person on the phone, with them becoming more and more rude every time. My concern is not necessarily the debt. I do want to pay (though I believe it is outside the statute of limitations), but I want to be sure that the company I'm dealing with it genuine and I won't be swindled for almost $2000. I can't, however, pay it all tomorrow. Also, there is no time to send them a certified letter asking for verification of the debt, since they threatened to act legally if this isn't resolved by tomorrow. I also don't think I can find and consult a lawyer in time, either. There is more to this story, but I think this is enough to get started with and don't want to write a book as my first post. I've been trying to research all day and now my head is killing me. Can someone give me some advice or point me in some direction? What can this firm (if it is legitimate) really do to me? Thank you SO MUCH in advance.
Time to caaaalm dowwwwn. "Judgment" is when you continue to ignore them. "Letters just get us sued." Have you ever been to war? This is what you are in. There aren't any bullets, thank God, but this is a war. Don't forget that. So why do you want to pay it? This is a "war", did you forget already? Welcome to 1914. Dig a trench. How many times has Iran threatened to nuke Israel? The difference here is that it isn't about vaporizing people and they have to follow the law. It's an FDCPA violation to not do what you say you are going to do. If they don't sue you, you have at least that. Of course they have what they have. Take a nap. This is important in war.
Dumb Bob is not as dumb as he pretends to be. He has given you some very good advice. Let me add my two cents: It's commendable that you want to repay your legitimate debt. But if the statute of limitations on that debt has expired, then this lawyer's threats have no teeth to them. He can certainly sue you, but he can't possibly win. That being the case, you hold all the cards here. Feel free to offer them whatever payment arrangements you feel comfortable with. If they don't like it, they can go suck an egg. If they sue, they will lose. Before offering to pay anything, you should consider that the company who originally loaned you the money/issued you credit, has probably long ago sold the debt. If you pay this lawyer, the original creditor is not going to get anything more than they have already received. And the company who purchased the debt paid much less for it than you owed. So not only should you not pay any additional fees, you should seriously consider paying less than the original amount, if anything at all.
Uridian, Sounds like you have not entered the legal waters (i.e. court action) yet. No lawsuit...no summons right? Just the old huff and puff scare tactic. In which case, you have plenty of time to fight them. Indeed it is War. But be not afraid if your ammunition is sufficient ( in your case, SOL and whatever else). And remember...wars have been won without sufficient ammunition. Instead they have been won by ingenuity and perseverance. Also, this could be a scam from an unathorized intruder trying to tap in and make a quick buck from the debt.
Thanks... I've been calling the FTC, California Consumer Protection (Attorney General), and some free legal aid services. I've gathered that they HAVE to send me a copy in writing of my debt, according to the FDCPA if I request it. They flat out refuse when I ask over the phone. Fax or email only! So, I'm going to send them a letter certified mail with return receipt asking to verify the debt. I'm convinced they can't just "get a judgment" against me as they claim. I haven't been served, and it's not just a form they fill out. I have to be summoned for a court date, have 30 days to respond and only then can default judgment be made against me if I don't appear. How does the statute of limitations on debt work? The credit card company closed and sold my debt in October of 2003, and that was the last activity. Is that when the statute of limitations starts counting?
Did you pay anything to buyer of debt (or anyone else) after 03. The SOL in california is 4yr. You are passed that. They know that. Hence the threatening letter. They will likely threat threat threat in the hopes that something lucky for them will happen. If you are sued/summoned (and I doubt you will be) then be sure to include the SOL status of debt in summons's affirmative defense statement.
I have not paid anything to anyone since early 2003. I have just put in the mail a request for validation, sent certified mail with return receipt. I spoke briefly with a lawyer that said it was likely that the contract with Providian (original CC owner) said that the debt would be collected under Delaware law, and that CC debt there counts as a closed account and would have an SOL of 6 years. Is there any way I can find out which statute of limitations applies? My biggest problem with all of this is that there is no threatening letter, only a threatening phone call. When I ask for a letter, she gets angry and flat out refuses to send one. "WE NEED A PAYMENT TODAY! I'M NOT GOING TO SEND YOU A LETTER! WE NEED A PAYMENT!"
I think your worry is way ahead of where it should be. This sounds more and more like someone fishing for luck (i.e. scam). First off, anyone can contrive an email address. What's important is that whatever correspondence they send you, should have their letter-head info. Try to get info on who/Where to send full payment (make sure you use term 'full payment'...this will get them licking their chops...legit or not). If they want the money, they should give you enough info for you to investigate their legitimacy.