i am not sure if the last post went thru and by no means am i trying to pester people. But since MBNA has sent file to the collection agency and they have sent it to their lawyers. I have till the end of september to make a 9,821 payment IN FULL! I do not think i will be able to make that payment in a week. so i am assuming they will take this to a court matter. My car is not in my name and we rent. I am married as well. the account that i had outstanding is in my name NOT my wifes. She will not be affected by this will she? also, what is a SOL? someone had mentioned that the judge may require a reconcile before trial? what is the likelyhood of that? how does this whole thing progress as well. i also dont know what a thread is so i do apologize if i am messing up the board/system.
no need to apologize a thread is when you create a new topic and ask a question you don't need to create a new topic each time, just continue asking your questions when someone answers...you will see the little arrows darker next to the postings, meaning there are unread messages there SOL means Statute of Limitations, it varies by state law, but basically means that a creditor only has so many years to sue you to collect on a debt. If the SOL has expired, they may still sue, but you can use the defense that the SOL has expired...legally you are not responsible for the debt. some collection agencies will sue you even though the debt is out of SOL, that is because they are counting on you not showing up, and getting a default judgment
Will they come after my wife as well? or since the outstanding debt is solely in my name only come after me?
If you haven't been served with a summons yet, the first thing you need to do is send a Validation letter to the CA / lawyers, they can't do any collection activity until they provide you with this. also how old is this debt? when is the last time you made payments on it? also it depends if your state is a "community property" state to know whether there is any impact on a spouse's reports
you can find lots of information here also you need to read up and get familiar with the procedures that others have used here to get results... http://consumers.creditnet.com/straighttalk/board/forumdisplay.php?s=&forumid=25
A thread is simply a new topic... When you click the "YELLOW" "POST" button at the top of the page, you create a new thread. When you click the "BLACK" Reply, or Reply with Quote buttons, you add to the existing thread. Keeping all the same issues in the same post, just makes it a lot easier to respond to all of the issues, since all of the issues and questions are at the same place. Just so they're all linked together, I'm listing the different threads here, so they'll at least be listed in one place... In case anyone needs to look over all of the posts in order to respond to your questions. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&goto=newpost&threadid=60890 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&goto=newpost&threadid=60892 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&goto=newpost&threadid=60893 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&goto=newpost&threadid=60894 http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&goto=newpost&threadid=60895
the last payment was in 2003. also they(the CA) has been making phone calls to my parents as well. i have not lived with them since 1993! i really appreciate the help everyone has been giving me. I hope at least to eat something in the next day or two! would attempting to get a loan from a bank for $10,000 help matters?
In this thread, I included a link to a short and simple validation letter which you could edit and use. http://consumers.creditnet.com/straighttalk/board/showthread.php?s=&postid=434822#post434822 This is the simplest (and still complete) validation letter you can get. It disputes both of the issues that the FTC says make up the purpose of validation, and doesn't request anything which is extraneous which isn't proper for validation, as some of the sample letters do. From the post I pointed to in that thread, also by me. I would simply reply back saying "I received on xx/xx/xxxx, something from your company, but I have don't know what this is in regards to. I would appreciate it if you could provide me with something that shows that the matter in which you are referring to is mine, and that the amount which you are claiming is accurate." You want to make it your own, but notice that it disputes both that the account is yours (signed application), and that the amount is accurate (contract, complete payment history, all invoices, etc.)
ok then it is not out of SOL, so you need to send validation letter by certified mail return receipt requested did your parents tell them your current address? continued contact to a 3rd party discussing a debt is a violation for FDCPA for which they may be sued! if you could get the loan sure it would help..are you sure their figure is completely accurate? how do you know exactly how much you legally owe under your contract? this is why you need proper validation from the CA
2003, puts this account well within the SOL, which would go until 2007. ;( The CA can only call third-parties, including your parents, until they know that they have your contact information correct. I'ld add a sentence to your validation letter, simply asking that they only contact you only by mail, at the address on the letter. The best advice is to keep the validation letter simple, especially if you're working on this while you are still learning everything. Unless you know the how's and why's of why the sample letters ask for what they ask for, well enough that you could try to defend your position that that information is *ESSENTIAL* for you to know that the debt is valid; and some of the things in the sample letters would be extremely difficult for the consumer to make that argument, especially while they're still learning.
I am not sure a letter of validation would work. I got a letter stating that it will already goto a lawyer if i dont have the money by September 30th. that being said it looks like it will goto court. If i was reading the replies people were sending me, there will be a sheriff sale of items. Does the court date automatically goto a judgement or is the first court appearance just preliminary stuff. Should i get a lawyer for that?
If its at the magistrates level the first date is the hearing itself. You present your case, they present theirs. Don't disqualify validation before trying it. It could be that they are threatening legal actions, vaguely, to try to motivate you into settling it with them NOW. i.e. Scare you into paying. If they can validate, which with a recent CO is more likely than not, at least you see their evidence NOW, instead of being surprised by it in front of the magistrate or judge. How far is the collection agency away from you? If they are not local to you, there are more expenses involved in actually taking the matter to 'legal actions' than if they are local, i.e. they have to actually either hire an outside attorney, or personally appear in order to get the judgement. The amount may make it worth a non-local CA to pursue it, but they still have to lay out money to pursue it, than a local CA may have to. A lot of CAs file in hopes of scaring you into not showing, so that they get the default judgement, they don't have to show up, they win, the consumer loses, and they didn't have to break a sweat other than filling out the forms. When they get the notice to appear, they know that the shoe is on the other foot, THEY MUST APPEAR, and/or be represented to make their case if they want to win. They don't show, they lose, and they are out the money that they paid to bring the case.
what is the reality of a sherrif sale? will the judge allow payments then if those are not made THEN a sherrif sale...
You could always declare BK after the judgment and they would get nothing from you. I'm not sure it's worth it though for $9000 but that is a decision you would have to make. You are worrying about things that have not occurred yet. Just because they are sending the case to their lawyer does not mean that they will sue you immediately. The lawyer may work out a payment plan for you. You have to talk with them and explain it to them this way... 1. You are basically "judgment-proof" other than your household goods that might be sold at a sheriff's sale 2. Before you would let that happen you would declare Ch. 7 Bankruptcy and get to keep your household goods, and get to vacate their judgment, leaving them with 0$ collected from you or.. 3. You can agree to make monthly payments on the debt until you pay it off. It is to the creditors advantage that they agree to #3 since that is the only way they stand to get any money from you this is the tactic you could use , basically say "hey, I'm willing to make payments that I can afford, or else I'll declare BK and you get nothing" Don't just roll over and accept what they throw at you...fight back!
It typically depends more on the plaintiff than the judge or magistrate. Once the judgement is awarded, essentially the plaintiff decides how aggressively they want to handle the judgement, and try to collect on that judgement. If the plaintiff will be content in setting up payment arrangements (remember that if a judgement is awarded, there is interest on that judgement being added to that judgement), then they may not pursue other means of attempting to collect. If they want it all (or as much of it as they can think to try to obtain now), then they could escalate it beyond just getting the judgement, to trying to aggressively enforce that judgement.
i am sure in the upcoming days i will have more questions about what is happening. i want to thank one and all that has been giving me advice. last nite was the 1st time since sunday i have slept and at least ate something. thank you!
