Hi. I have read through these posts looking for an answer and am very impressed with the collective knowledge here. I was wondering if anyone could advise me on my situation. My mom called today and said a friend of hers saw in the paper that we were being sued. It was listed in a newspaper in Arkansas. I love in Texas and my mom lives in AR, but not that county. I believe this is for a loan that I had with her cosigning from 1997. I paid on the loan untill 1999 when I lost my job due to pregnancy complications. I tried to pay with my husband's help, but every single month my amount die went up by a hundred or more dollars till we couldn't pay it any more. (It was a private school loan through a finance company for Microsoft classes. Not a gov't loan.) I have not paid on it since then. I was going to file bankruptcy and was advised that I could just stop paying till I filed. I never ended up filing because we couldn't afford the fees and I was scared that the loan would automatically be on my mom then. I do not have a job and haven't worked more than a few months since 1999 and my husband refeuses to pay my debt from before we were married. Since he also wants me to be a homemaker, I have no way to repay this. My mom is employed, however but she is 63 and was about to have to quit because of her heart. We haven't gotten any calls about this or notices. I haven't heard anything from anyone on this loan for years. I've moved 6 times since, so maybe they just can't find me. Then one day 5 years later, BOOM! there's a litigation notice in a paper hundreds of miles from me. My mom's friend that saw it doesn't have a copy and it was a "couple weeks ago". What on earth do I do and where do I start. I have read from other posts that if I don't show they'll get a default judgement. Is this true? I can't go to AR... it is a 6+ hour drive and I couldn't afford to pay gas even. I pulled a credit report and it is on my credit from Wells Fargo and the status is "STUDENT LOAN COLLECTION ACCOUNT " on Equifax, "Transferred to another lender or claim purchased - Charge off" on Experian, and "Placed for collection" on TU. All three reports show different amounts due also ranging from $19,644 to $25,218. There was also a recent inquiry from W & A. I haven't ever gotten anything from them, so I don't know if they are the ones suing or not. The truth is I am completely lost. I don't know WHO is suing us, don't know WHEN this happened, and don't know WHERE to go. Any information that you could give me to get me started on the right track would be greatly appreciated. Thank you in advance and that you for making an avenue for people to get help with these matters. M. Jones PS: I don't have many assets. $1000 in stocks, a car which I owe $3000 on (it's worth that probably). My husband owns his car but it is a 1996 and not worth much. We just bought a house in January in my husbands name only. We put nothing down, so probably only have a few hundred in equity since closing costs were rolled in. Also, Texas is a community property state. My mom only owns a car and has $1000 in a retirement fund.
Others can answer you better than I, but here's how I would start. Find out what paper it was in. Call the paper, ask them for a copy of that days paper. If they can just give you the information then get it, otherwise have them mail it to you. From there, you need to find out the court date and all that. Then you need to contact the creditor and work out some sort of settlement offer. Here's where these folks will be way more helpful than I. I've never had to deal with that. Sorry. Good luck!
Thanks! I appreciate the information. I found out the paper and courthouse name for that county and will call for a copy tomorrow when they open. Question: How can I offer settle if I don't have income? Are they going to take $25 a month on a $20,000 loan?
If it were me in that situation I think I'd be looking for a job. Or, I guess you could declare BK. I personally wouldn't though. When I agree to pay something back, I do so.
Forget the paper if you know what county it's in. Contact the courthouse there and see when the court date is. If it hasn't come up yet, talk to the clerk at the court and see if you can get a continuance. Better yet, see if you can file for a change of venue to where you live. File an answer denying the charge and that you don't agree with the amount of the debt. Make them prove it--all of it, not just part. Then I'd call a lawyer. Most will give you at least a short phone consultation free. See if there is any way to delay or countersue. You may have to file for bankruptcy, but depending on your state's laws you may just be judgment proof. You will better afford several hundred dollars to file BK than tens of thousands for settlement. Someone else may have some better ideas.
Welcome to the Credit Net board. ****************************************************** NEW MEMBERS READ THIS. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=410243#post410243 ******************************************************* http://www.send4fun.com/telephone.htm >This may well be past the SOL which means that you don't have to pay it if it is. Check it out by going to the newbee link above then scrawling down to why chats links.
Ok, take a deep breath and start digging. First, you need to go to Why Chat's credit site and find out what the statute of limitations is for Ark. You also need the date of last activity for the account - look for that on your credit reports. If the DOLA is outside the SOL you have an affirmative defense but you HAVE to show up in court with your mom to argue it. You CANNOT let them get a default judgement against you because judgements are renewable in most states. This means that it could stay with you indefinitely - a HUGE issue down the road if you want to buy cars, homes, etc. You have to get to that courthouse on the date of hearing, even if you have to beg or borrow the gas money. The other option of course is to file Chapter 7 bankruptcy. That will cost about $1000 to do, and you need to file the case before your hearing. HOWEVER, I would guess that your mom would have to file as well and there may be implications for her retirement, particularly if she owns a home and has a lot of equity. If you need time, you may be able to file a request for continuance to postpone your court date by 30 days. I think you generally have 21 days to respond to a summons, so if this notice appeared in the paper a few weeks ago you are fast running out of time. Good luck to you Poochie ps - W&A is Wolpoff and Abramson - a really super nasty CA.
Re: Re: Need Urgent Help - Surprise Lawsuit And when I see someone who is being an arrogant snob who thinks they know it all I tell the smart A** So.
First, you need to go to Why Chat's credit site and find out what the statute of limitations is for Ark. Poochie ================== Didn' I just tell them to do that in my post above? ******************************************************
Re: Need Urgent Help - Surprise Law Thanks for the links. I found the SOL for Arkansas but I don't really know what it means. STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 3 Written Contract: 5 (partial payment stops the statute from running) Sale of Goods: (UCC-2) - 4 Domestic Judgment: 10 - Renewable Foreign Judgment: 10 So, is this a written contract or an open account? How do I determine activity on the loan. I made my last payment in 1999. But, WellsFrago sold the account to a CO and I think that CO sold it to the CO that filed against me. Does that count as activity even if I wasn't the one doing the activity? If it is a written contract then time is almost up on the SOL. How do I utilize the SOL? Thank you! If I can move this to Texas will their SOL take affect? Cause there's is shorter. STATUTE OF LIMITATIONS (IN YEARS) Open Acct.: 4 Written Contract: 4 Domestic Judgment: 10 (Renewable) Foreign Judgment: 10 (Renewable)
Thank you for your help. Do I tell the CO or the courthouse that I don't sgree with the charges? Do I dispute it at the same time as I request to change venue or is there an order I need to do this in? I will do it first thing tomorrow. Also, what happens if they get a judgement and I don't have the income to pay them back? Can I be arrested or something?
You need to first contact the Court and make sure it is YOU who is being sued, and not your mother,who co-signed for you. Get a copy of the case file, see what was entered as proof of service. You say this was a consolidation of a student loan? Do you have any of the original documentation? You need to file an answer and request a change of venue, you are beyond SOL for both Ark & Tx so you also need to file an affirmative defense. Never mind about the newspaper, all that would show isthat the case was filed, not that a judgment was entered. You need a lawyer to help you file an answer and request for a change of venue, you may qualify for legal aid, if not, go to my website and look for the letter "How To Answer A Lawsuit".
Sorry to be ignorant here... what is DOLA? I have my SOL info now but don't fully understand what constitutes activity. Thank you for your response.
Re: Need Urgent Help - Surprise Law "You need to first contact the Court and make sure it is YOU who is being sued, and not your mother,who co-signed for you." -------------------------------------------------------------- Mom said it had both of our names listed. -------------------------------------------------------------- "You say this was a consolidation of a student loan? Do you have any of the original documentation?" -------------------------------------------------------------- It was a school loan to take Microsoft certification classes. It was done through a provate source. I don't have any documentation for it. I probably have a collection letter from a couple months in 1999 after I stopped paying but that is all. It has been sold to the CO since then and I honestly don't know who owns it. --------------------------------------------------------------- "You need to file an answer and request a change of venue, you are beyond SOL for both Ark & Tx so you also need to file an affirmative defense." --------------------------------------------------------------- What is an affirmative defense? Thank you SO much!!
Re: Need Urgent Help - Surprise Law Has your mother been served any papers? The DOLA is the last payment made on the account(date of last activity) On your credit reort it should only be considered accurate from the original creditor entry. Your mother should get a lawyer in her State to help, SHE is the one at risk, not you.
Re: Need Urgent Help - Surprise Law I'm learning lots on your web site. What a great resource! My mom has not been served papers. In fact, in 6 years as co-signer on this she has only gotten one collection letter and that was a year ago. I want to do everything in my power to make sure this doesn't hurt my mom. I'd rather lose everything I own that stick it to her. Since we've moved a lot is there a chance that they filed suit in more than one county or state? If I get a affirmative defense can I still get slammed if they have a filing at another county or does it [affirmative defense] trump that? Should I still seek representation for us in AR if I file change of venue to TX or retain an attorney here? I can liquidate my brokerage account tomorrow and use that to put down a retainer. That you so much for taking the time to help me with this. I don't know what I would have done if I hadn't stumbled across this site.
Re: Need Urgent Help - Surprise Law It's kind of late to be worried about hurting Mom after leaving her on the hook for so much money as your co-signer all these years. She has much more to lose for trying to to help you out. Why would you choose not to work and bail her out instead of being a homemaker because your husband told you too? Stop worrying about yourself and spend time trying to help her find a good lawyer. She is the one who will suffer most from all this. You have no assets to defend and a 63 year old woman should not have to file BK at this time n her life for trying to be helpful.
Re: Need Urgent Help - Surprise Law Because I have a special needs child and home care costs several more hundred dollars a month than I have ever made working. When it comes down to my child's health or paying an old creditor, I have to choose my child. I have to give constant care and my husband and I can not both me out working so we'll have a more affluent lifestyle. I choose to do the right thing for my child. I do not think that taking care of special needs child 24 hours a day constitutes selfish. If I had the abilty to work out of the house I would.
Re: Need Urgent Help - Surprise Law Yes you did LBrown - slow dial up cnx on my end. As always, you rule!!!
Re: Re: Need Urgent Help - Surprise Law Please over look credit6949 ;I think he mouthed off before seeing the big picture.
