If you are in Texas, check this out! http://www.oag.state.tx.us/consumer/brochure/debt.html The above link is to the Attorney General's site. It says this: Debt Collection: Your Home and Wages are Protected Some collectors will threaten to foreclose on homesteads or to garnish wages. In Texas, a homestead cannot be taken to pay a debt except for debts taken for the purchase of the home, for home improvements, for home equity loans or to pay certain taxes. Wages may be garnished to pay court-ordered child support, back taxes, and defaulted student loans. Yippeee! This means that my car repo can't become a wage garnishment! I don't own a home, no big money in the bank, and still paying for my new car. So what else would they seek? Could they still do a judgement even though I have nothing to give?
Yes, they could still do a judgement with the hopes that you might some day have other assets. (You caould win the Texas Lotto!) And since a judgement can be renewed almost indefinitely in Texas (although, not placed back on your credit report, the law will allow them to continuously renew it and attempt to collect from you), they have little to loose by getting a judgement. Let's hope they're just lazy or don't know this. Good luck. P.S I live in Texas.
Thanks! I don't think they will do a judgement unless I bother them. I'm laying low for now. But when this account get 4 yrs old, I'm ready! They are sending my scores to hell with their double reporting!
For collections less than 4 years old do you just try to get the CB's to remove? And then dispute after the 4 year mark with the c/a? I'm trying to plan my next attacks!!
In my case I tried to dispute last year. The debt was only about 18 months old. This turned out to be a big mistake. Before I disputed, they had not given the account to a collection agency. Immediately following my dispute they did. So I now have both accounts on my CR's. Also, after disputing they started updating both accounts at least every other month. I woke a sleeping giant! So unless you have a great chance of having a successful dipsute, I say leave it alone until it becomes uncollectable. Then when it does, use every possible means to get it deleted or reported more favorably. I plan to start by asking for validation. If this doesn't work then I will dispute.
