I've been searching for the part in the Indiana code that references "last item" State and just cannot find it. Can anyone point me in that direction? Am I correct to believe the term ACTIVE USEABLE ACCOUNT is in the statue or is it implied ? Im just not sure which consumer law applies to this...I certainly could use some help. Wishing all of the board members a safe a happy 4th!!!!
Re: Re: Re: Mbna sol experts crushing debt I found this info below on Whychat's website...... INDIANA IC 34-11-3 Chapter 3. Accrual of Cause of Action; Time From Which Limitation Period Runs IC 34-11-3-1 Mutual, open, and current accounts Sec. 1. In an action brought to recover a balance due upon a mutual, open, and current account between the parties, the cause of action is considered to have accrued from the date of the last item proved in the account on either side. THIS MEANS THE SOL STARTS FROM LAST CHARGE OR PAYMENT ON THE ACCOUNT This is what is confusing me..does this mean last charge (which was 97) or the last payment(which was 5/04)??? Does that mean the choice is the oc's? Also, 'proved in the account on either side' On Indiana's website I found this....... Information Maintained by the Office of Code Revision Indiana Legislative Services Agency 07/10/2004 IC 34-11-3 Chapter 3. Accrual of Cause of Action; Time From Which Limitation Period Runs IC 34-11-3-1 Mutual, open, and current accounts Sec. 1. In an action brought to recover a balance due upon a mutual, open, and current account between the parties, the cause of action is considered to have accrued from the date of the last item proved in the account on either side. As added by P.L.1-1998, SEC.6. (from the Indiana website) No where in this code could I find reference to an 'active useable account'............IC34-11-3-1 says Mutual(which I guess means between oc and me), open(not sure if this refers to open=credit card acct. or meaning the account is open not closed) and current( meaning it's not delinquent??) I feel like I'm asking what the meaning of is Is.. Can anyone take a stab at the 'active useable account' Whychat says applies to my situation? Anybody know of a successful case in Indiana or any other last item accrual state where active useable account was used as a defense ? With the amount of this account, I don't expect the ca who gets this acct. to just roll over. Thanks all for reading *
Re: Re: Re: Mbna sol experts crushing debt The terms "mutual" , "open" and "current" are not terms that require case law, just a dictionary. Mutual- means both parties are participating, if you can no longer charge on the account, even though you are paying in on it, it is NOT any longer "mutual" Open refers to the fact that in an open end account, your payments should allow you to continue to to purchase as your balance goes down.It is also called a revolving credit account.If the account was frozen or suspended, it is no longer useable. Current means what it says, up to date, not past due, no late fees. Your last payment on a CURRENT (up to date) MUTUAL (both sides participating) and OPEN ( useable) account is the start of your SOL. If you last paid on an account WHILE it fulfilled ALL of those terms, that is the start of your SOL in YOUR State. The basic thing to remember is that as confusing as the laws seem. all you really have to do is READ THE WORDS.
Re: Re: Re: Re: Mbna sol experts crushing debt Thanks for the schooling Whychat I guess Occam's Razor applies here. Back in my school daze I remember when asked to read a passage from a book and give the meaning I would frequently get it wrong because instead of the obvious answer I would go several levels deep in my answer and of course get it wrong....In some areas of my life that thinking has served me well...other times I tend to complicate the uncomplicated........ For those who have been reading this thread, I will keep the board posted regarding my progress. So far, I have stopped payment on the monthly debits to this account and will close it before Aug. No contact from oc yet(still early) By the way ......thank you Whychat for responding to my questions......with the many questions asked daily I don't know how you (and all who help on this board) keep up! I'm reminded of the saying "To teach is to learn twice" *
Re: Re: Re: Re: Mbna sol experts crushing debt The principal of Occam's Razor, (known today as "KISS") wll be helpful to you, in addition, remember that the lawyers and legal assistants working for CA's are NOT sporting Phi Beta Kapa keys. Most obtained their degrees "outsourced" to the Islands, and only passed their bar exams after multi tries and many cram classes.
Re: Re: Re: Re: Mbna sol experts crushing debt Occam's Razor William of Occam (or Ockham) (1284-1347) was an English philosopher and theologian. His work on knowledge, logic and scientific inquiry played a major role in the transition from medieval to modern thought. He based scientific knowledge on experience and self-evident truths, and on logical propositions resulting from those two sources. In his writings, Occam stressed the Aristotelian principle that entities must not be multiplied beyond what is necessary. This principle became known as Occam's (or Ockham's) Razor or the law of parsimony. A problem should be stated in its basic and simplest terms. In science, the simplest theory that fits the facts of a problem is the one that should be selected. This rule is interpreted to mean that the simplest of two or more competing theories is preferable and that an explanation for unknown phenomena should first be attempted in terms of what is already known. A real life example of Occam's Razor in practice goes as follows: Crop circles began to be reported in the 1970s. Two interpretations were made of the circles of matted grass. One was that flying saucers made the imprints. The other was that someone (human) had used some sort of instruments to push down the grass. Occam's Razor would say that given the lack of evidence for flying saucers and the complexity involved in getting UFOs from distant galaxies to arrive on earth (unseen and traveling faster than the speed of light I suppose) the second interpretation is simplest. The second explanation could be wrong, but until further facts present themself it remains the preferable theory. As it turns out, Occam's Razor was right as two people admitted to making the original crop figures in the 1990s (and the rest have apparently been created by copy-cats). Despite this fact, some people still ignore Occam's Razor and instead continue to believe that crop circles are being created by flying saucers. The simplest model is more likely to be correct--especially when we are working with unusual phenomenon. Just a little backround on Occam's Razor(aka)KISS....Acutally .. I am no scholar.... I just watch a lot a movies ...In the movie Contact, Jody Foster used the term... so I looked it up on line....luv,luv,luv the internet! *
Banking Question? This quote is from my very first post. I have a question regarding stop-payments...We've all ready put a stop payment on July 1 debit. Before closing this account do I need to put a stop-payment on the remaining 3 withdrawals? They are 8-1,9-1,10-1. I guess I'm asking if having authorized oc to debit account and I close the account, is it criminal(fraud) of some sort? Writing a check on a closed acct? Although technically it was a verbal agreement. I got to reading some other forums regarding banking and got a little nervous . Could the oc report me to chexsystems or telecheck or worse for giving them permission to withdraw on a closed account? Should I write to mbna and say we will not be honoring these future debits we initially agreed to? I'm not clear how to go about this debit situation and want to do the right thing. Anyone know about banking rules? Thanks *
Re: Re: Mbna sol experts crushing debt Rubyjean, I feel real dumb today..... 1-800-387-0396 what is this number? *
Re: Re: Mbna sol experts crushing debt It is the department at MBNA where most of the EPS payments are set up for arrangements.. There also is a 24 hour Customer service # 1800 421 2110. and you can have it done at that number also.. Make sure that if you do call to cancel them that you do it at least 48 hrs before the next payment is scheduled to prevent a withdrawal... Good luck
Re: Re: Mbna sol experts crushing debt So with verbal de-authorization ( is that a word) they are legally stopped from withdrawal ? Then close the bank account? Will they ask me questions and send me to their collection dept or just take the order over the phone? Thanks *
Re: Re: Re: Mbna sol experts crushing debt Click here: CREDITNET | Straight Talk | | Mbna sol experts crushing debt It's A BUMP
A little update... DH called oc to revoke prior authorization for eps checks and they wouldn't' accept it .Said "your wife has to call" we can't take this from you. Well for years they have only delt with him. He authorized eps payment from our joint acct. and has fielded all the phone calls in the past? Funny they'll take money from him. He set it up . He tells them due to circumstances that he could not explain eps has to stop.... They tell him its going to be charged off if we don't pay. ...They say Why, Why, Why you have to tell us why, 4 different times he comes back with the same answer .. ...They hang up. I'm just not sure what the smart thing to do is. I have not been in communication with oc since 97-98 ..nothing with my sig since probably signing for charges in early 98.. I'm just wondering if I personally should not respond.???? BTW.. the bank account is now closed. We stopped payment on the 7-1 eps (cost about $60) *
Does it make any difference (ie, is there any consideration for) that it looks like Ronika has already paid over 18k ($380 * 48months) on some $10K of original charges but now still owing $14,489? Despite all she's paid, they've only made about $2,400 progress toward retiring their debt with most of it going to fees, penalties, and high interest. Could they possibly be put retroactively into one of MBNA's account rehab programs and the late & overlimit fees be removed? 0
Sorry ... My computer has been crashing all day .... been updating my firewall and av software.... To Zero..... We have been paying $380/m for about 8 months. prior to that ...payments have been anywhere from 180 to 220 monthly. Always behind the 30 late as you can tell from my cr (if that's even correct) So Im sorry if my initial post sounded like 380 was a fixed sum. Just recently ( last year) we felt like we could manage that payment...but not anymore.... Looking at our history with oc... dh just tried to keep us from being sued by paying what we could... we actually don't know exactly how much we've paid on this account... from oc carrying the debt internally, I guess we've managed to keep it from being charged off. Our records are shoddy to say the least....Whenever we got a collection call we just tried to pay. and yes, sky high interest is a bee otch .... trying to keep our business afloat in the 90's through credit is a factor in my current situation .. *
Rubyjean........ Thank you for responding to my questions... Yes soon I will be in Chargeoff land.... After reading and studying this board for several months, I feel somewhat empowered... and that's a good thing! I don't expect just any JDB to get this collections account... I've read who my oc usually uses and expect the worst... and prepare for the worst... However this over-the-hill computer user has found some brilliant minds on CN dedicated to helping and sharing their knowledge with all who ask... Lovin It. *
I received below letter overnighter today( paraphrase) -------------------------------------------------------- LAST CHANCE BEFORE BINDING ARBITRATION Dear Ronika We have made every attempt to resolve your past due acct with us. Your unwillingness to resolve this issue means that, effective June 30 04(wrong date) : the above referenced acct will be written off as a bad debt. At that time (ocâ??s) intention will be to arbitrate your acct, and it will be referred to our attorneys to enforce your obligation under your credit car agreement. Under this agreement your acct will be submitted to binding arbitration before a neutral and independent arbitrator under the rules of the NAF.(is it possible binding arbitration was not part of my agreement when I opened the acct. in 90?) A hearing will be set within the federal district that includes your billing address at the time we file our claim. Arbitration proceedings can result in an award, which can be entered as a judgment and enforced to the fullest extent of the law including liens against assets and wage garnishment. Given your current positive assets and employment status, my decision is to arbitrate your account unless I hear from you with acceptable paymt arrangements by 5 pm Friday June 30. Neither we nor our attorneys will accept a settlement or other options with regard to your balance of $14,xxx.xx is arrangements are not made prior to 5 on Friday. Signed Asst.vp Homeowner X Employed X Approx value Aprrox equity --------------------------------------------------- I checked my cr on pg and on Monday they pulled TU and EX trolling for info... So what's my next move? Is this a standard letter.."Given your current postive assets and employment status..we're going to arbitrate"? Positive assest is our home. Do I wait for next letter from CA/Attorney then send sol/dispute/c&d? This is a big acct. they think they smell blood in the water... Thanks everyone *
