ive already screwed up by using a credit counseling service, who insisted that they could get my accounts back into repayment status even tho i was past 90 days past due, that was 2 months ago, i just recieved a notice to file suit from one of the CAS, dated aug 11 with a notice to reply within 5 days of the date on the notice....total amount due is 1869.59...my total indebtness is about 11k....i am truly scared...but i dont wanna file bk
bacci, I'm a newb but have had success using this boards common sense approach. your problem can be dealt with. details are whats needed: is this a Credit Card (cc)? who is the Original Creditor (OC)? who is the Collection Agency (CA)? exactly how much is the original debt? you said 90 days late, how far beyond that are you? is this reporting on your credit reports yet? you mentioned 11K indebtedness, besides this 1800 what is the rest and their status (credit report as of now). fweem! bugman
original creditor is discover....ca appears to be eskanos and adler...i am no longer sure of the original debt....i am now 6 months overdue with starting with credit counseling...yes it is reported on my credit report...this may sound silly, but im afraid to look at my credit report....i have a total of 6 accounts which are now charge offs...all ccs....i tried without success to have the ccs return the accounts to repayment status, with a promise of direct deposit...i have had lates in the past, but this all occured from 10/02-5/03....i am still banging my head against the wall trying to figure out why i did this to myself...i really have no good excuses, other than when the collection calls began, i totally freaked out, stopped answering my phone, stopped reading mail from the ccs, and went into a state of depression which mostly continues today, and gets worse with each comunique from the cas....fyi, i have an ira, and while its worth is not what it was 2 years ago, there are more than adequate funds to satisfy the creditors....oh, and i havent used any of the ccs since 2001....i really wanted to pay them off, but the interest rates were such that my payments did very little....now u can see what a ****up i am (bacci, I'm a newb but have had success using this boards common sense approach. your problem can be dealt with. details are whats needed: is this a Credit Card (cc)? who is the Original Creditor (OC)? who is the Collection Agency (CA)? exactly how much is the original debt? you said 90 days late, how far beyond that are you? is this reporting on your credit reports yet? you mentioned 11K indebtedness, besides this 1800 what is the rest and their status (credit report as of now).)
WOW! thats an ear/eye full! please relax the WORLD WILL NOT END IF U DONT PAY YOUR CREDIT CARD! just take it easy and try to be specific and to the point are u out of work?/No income? As far as using a loan against your IRA to satisfy your debt im no expert. i understand that if u do this read the specifics of the agreement and know that if u lose your job they could ask for payment in full from the loan. I would definetely consider this tho. It sounds like CA (ahole and ahole lawyer wanabee) is trying to offer a settlement, how good is it? Some of the debts you have not paid may be out of the SOL (Statute of Limitations) what state are you in? bugman! get your Credit Reports from the 3 BIG's
There you go, A POSITIVE! you live in california, they have great laws that exceed the federal FCRA, FDCPA... and are in favor of the consumer (generally speaking that is) goto Why Chats site and check out your SOL. bugman fweem on!
i am a computer tech...doesnt look like im in danger of losing my job, but who knows, with what ive done and the comedy of errors my life has become...when the economy got slow, i let my boss pay me late...i know i have to order a copy of my credit report, but like i said, i am afraid to...ive been reading the posts on this forum, and most of u guys make this whole thing seem so easy, as for borrowing against an ira, as far as i know, i would be liable for taxes and penalties, and would put a crimp in my retirement savings, but if these ccs all go ti judgement, i wont have a choice...and please give the address of the sol site again....i am sure that these are all within the sol tho, these are not old debts
I sympathize many friends in the tech industry have been laid off, this economy is hurting everyone. believe me many people, myself included, did not want to even look at those reports but its crucial that you do. And you will feel as tho a major weight has been lifted off your shoulders now that you have faced this head on! http://community-2.webtv.net/Y-chat/WhyChatsCredit also check to see if wage garnishment is possible in your state. Use the Unofficial FAQ at the top of the board, this will answer a lot of your questions. Its time to read like a madman. basically read all the sticky threads on top of the board then use the search function for more.
Have you sent any Validation letters to any Collection Agencys yet? Again I'm a newb, but from what I understand regarding the lawsuit against you, you must reply to it otherwise a default judgement will be made against you. Search this board for additional info. Also, make sure you were 'served' properly. board search here too. In my case, prior to reading this board, I too was served. I called the CA/Attny and set up a payoff. I paid it off rather quickly. Thats just how i did it others have different ways. I had the money and the debt was mine so i paid it. bugman
heres a update, well the credit counseling agency screwed me...only signed up with them because they claimed they could get all my accounts back in repayment status....they cant, and said that tons of the paperwork i sent them never got to them, even tho they first told me they had spoken to all the creditors...should i respond to the lawsuit threat by phone or mail, and no i havent sent validation letters yet...i am sure the debt is mine, and i am sure that im gonna have to break into my ira to pay it off
This just isnt right. Who is the CCCS? They may have been sued in the past for this. I can only say what ive done(most of this took place prior to my knowledge of this site) I called the CA/Atty. immediately. At that point I realized I did not want a judgement against me nor on my reports. I was willing to anything to prevent that. They offered 80% immediate payoff or 100% over time(very short amount of time) I took the 100%. I told them I required a letter saying no judgement would be placed against me if the terms of this verbal agreement are satisfied. They did. Towards the end of my last payment i discovered this site. I immediately asked for deletion they said no. I pestered and still no. Many here have gotten much lower payouts, like 30-50%. Do you have access to funds to settle this particular debt? It may help you buy time to start fighting with the others and avoid a judgement. Ive never done it but are you able to take a loan against your IRA?
the only access to funds i have is my ira....its basically where i put my savings, cuz i didnt trust myself...prior to the dotcom crash and 9/11 i had over 80k saved...even with moving it around, this has been severely depleted, cant borrow from it, cuz would have to be replaced to quickly, but i am willing to pay the taxes and penalties...so u are saying i need to call the ca immediatly....will do just that, was gonna write, but im sure they will say they never got my letter and will start the judgement against me...my prob is this, i dont wanna just pay and have nothing to show for it, i at least want all the negative reports removed from my credit report....oh and the cca is american debt solutions in virginia beach...i used them because they dont have the flashy commercials, are listed with the bbb, spent time on the phone with me, and insisted that they had spoken to 2 of the cas, and since they only had the accounts for 1 month, returing them to the repay status would be no problem...i sent them all recent letters from cas and the credit cards....dont think i have a leg to stand on when it comes to a law suit, but i will be filing a complaint with the bbb...i just lost another 64.00 thx to my naivete....what kills me is that they listed eskanos and adler (the ca who said they are gonna take me to court) and told me that they had prior dealings with them, and would be able to work with them....im such a doof...and off i go to the poor house
No, I haven't sent validation letters yet...I am sure the debt is mine. bacci40 -------------------------------- ====================== Ever stop to consider that may not be the only reason or even the main reason for sending a validation Letter? Are you willing to get screwed out of hundreds or thousands of dollars for 7 years due to higher prices on insurance and loans simply because you think the debt is yours? THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
im such a doof...and off i go to the poor house bacci40 | ============== No, I haven't sent validation letters yet...I am sure the debt is mine. bacci40 =============>This will help you get there. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
ok, i prepared the validation letters to the cas, but will call the ca who sent the letter stating that they will be seeking judgement...im going to ask for a settlement only if they will state in writing that debt has been paid in full, and that all the negative reporting has been removed from my cr....does this sound sensible?
I have received a few threats of lawsuits from old CC accounts I had when I was younger. They never came to fruition and I never paid. They were from all of the credit cards I received when I was in college , maxed out and then brain farted and realized I had no money to pay them. They threaten frequently but I found it was mostly hot air. Is the letter a document from the court or a threat from the same CA saying "if you don't pay us, we are a big mean CA/attorney and we are going to sue you! GRRRR" If I had a dollar for every threat of lawsuit from those old CC'ss, I could have paid them off! Goodl luck! k
Wait! Is this the first letter you have received from this CA (I don't care if he is shadowed with a bunch of initials or titles he is still a CA)? If so - was the mini miranda included in that letter? "a statement that unless the consumer, within thirty days after receipt of the notice, disputes the validity of the debt, or any portion thereof, the debt will be assumed to be valid by the debt collector" If this is the first letter, and they made a statement that you have 5 days to respond they have overshadowed your right to validation, and have committed a $1000 no-no. Really need to know more details.
Re: Re: please help Do not call the CA. You are disputing the account in your validation letter. Let the process work for you. If you call them and "ask for a settlement" you have self-validated. Make them prove you owe it.
1*ok, I prepared the validation letters to the cas, 2*but will call the ca who sent the letter stating that they will be seeking judgment... 3*im going to ask for a settlement only if they will state in writing that debt has been paid in full, and that all the negative reporting has been removed from my cr.... 4*does this sound sensible? bacci40 ============== 1*Fine now send it CRRR. 2*NO NO NO Don't ever talk to them on the phone! Why do you think you're sending the letter? 3*You don't send a validation letter and turn right around and offer to settle in the same breath. That's a little contradictory don't you think? 4*Ya mean senseless rite? THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
heres the thing....the letter from the ca who is telling me that they are asking for a judgement is not the first letter i recieved from them.....when i got that first letter. is when i called the credit counseling service.....its the second letter, i am now screwed on that account, i am going to the post office to mail out letters to the rest, but i am sure that if i send a validation letter to eskanos and adler, by the time they receive it, they will have already started the process of suing me and i dont want that on my record
