Creditors Exchange claims to have a judgment against me – what to do?

Hi

I think you found it to be a collection agency? You must legally force Creditors Exchange Collection Agency to validate the debt they are collecting for. They should give you the details of the creditors and the principal amount along with interest charges. No legal actions can be taken against you until they prove their collection is legitimate. The fdcpa has implemented debt validation for this purpose only. If they don't send you anything in writing within 5 days, send a debt validation letter requesting for the info. Since Creditors Exchange is using threats of judgment for tomorrow, send a debt validation letter today only. Keep the green copy of the certified mail for proof of the letter sent by you.

Guest,have you been served any court papers? If not,they may be trying to scare you and force you to pay.I had a company do that to me,I told them go ahead,I don't have the money.Be sure and have your debt validated to make sure they have legal claim to collect,and never give bank info. If you do make payment arrangements,send a money order,or something without your bank info to Creditors Exchange.Good Luck-why not consider signing up for the forums?It's free and you will not only find free credit consultation,but alot of support and get eduacted to what's going on with creditors,etc. :D ...Karen

Hi,

My mom's having the same problem right now. We received a phone call this morning from Creditors Exchange, saying she owes them $10k and if she doesn't pay today...they're going to send the papers over to our county court and have her arrested for "FRAUD". My mom doesnt even speak english that well, she doesnt even use a credit card and now they're saying she has this credit card debt owes that much money. We have to pay at this minute or face the court & have her arrested.

We dont know what to do but WORRYYYINGGG because she doesnt have the money to pay. Can they really do that???

Thank you very much. We're also very new at this & worry sick to my stomach about this problem for my mom.

Anyone has any advice on this matter?? And earlier today, they called our accross the street neighbor because we didn't take their phone calls since yesterday.

Can they really do all those?? including calling my neighbors & leaving msgs with them???

PLEASE HELPPPP. Thank you

First of all, they can't have you arrested for fraud or anything if you don't have their card,or even if you do. Send them a request for debt validation, make copies of everything, and send it certified, return receipt. Also you can tell Creditors Exchange in the letter to cease and desist from contacting you or others, except by mail. You need to check this out-if you have no credit card, this could be identity theft, or someone trying to scam you. Feel free to ask questions..KAren

My wife has been receiving calls from the same agency stating that Emily and her father are late on the house payment and that if they dont receive payment tomorrow that they will have no opition but to have them thrown out. First my father in law has not been on the deed for almost 3 years now,it has been in both of our names. I call and call and leave messeages and have not rec a call back. Has anyone had this happen to them? Please respond back as to what we should do.
Todd and Emily

Why would a collection agency be collecting on a mortgage. Once it defaults wouldn't they take the home?

Is it Creditors Exchange or Creditors Interchange??

I just got a call from them saying that they received letigation that was filed against me on Friday (they called Saturday). They left a case number and phone number to call. The guy talked so fast and fuzzy that I had to listen to the message 4 times before I understood what he was saying. I couldn't even understand the name of the person he was leaving the message for. I am way behind on my credit card bills, becuase I lost my job last year. I don't know if this is a scam or not. After reading the posts on here I don't know what to do? Should I wait for them to call again or try calling them back?

Any input would be appreciated.

Start by calling the court tomorrow morning, first thing, to find out if there's actually been a case filed against you. From what you're saying, my guess is that they're saying they filed when they didn't, as a scare tactic. If they'd actually filed, your first notice of the fact would've been a summons, not a phone call.

Call the court, and then get back to us. We need that information in order to advise you on best courses of action.

And while you're waiting fot the court to open, set up some preparations to record telephone calls from these collectors, if it's legal to record calls in your state. Otherwise, make very detailed notes covering the date, time, and length of the call, the collector's and agency's names, and what was said. If they're actually pulling major fdcpa violations, it would behoove you to document that.

are they really legit, cos i just got a call today, this guy left a voicemail. well in my situation, my bank of america credit card was zeroed out today, i think, due to late payments since i quit my job cos we mmoved and my husband is the only one working, and all his earnings goes to rent and bills, i called him back and he said that there's court papers ready, and that i am going to court and pay 7000 plus attorney. he's trying to help me avoid that by paying 2981.45 settlement and after that i dont have to worry about the credit card.he said bank of america so i assumed he's telling the truth. im scared and nervous at the moment cos i dont have 2000 right now. so can anyone help me , if this is legit? i dont want to go to court or jail =[. HELP !

Erica,

Take a breath and relax, you are not going to jail, no way, no how.
Is this the first contact you have had with them?
Send them a Validation letter and make sure that Creditors Exchange is the legal owner of the debt. You can find the letter in the self-help section. Send it certified mail return receipt.
They will have to stop all collection until they send the legal documents, and that includes filing suit.

are you sure? :cry: cos my credit card is already has alot of late payments due to not working. i tried my best to pay them on time but it didnt work out, the account manager for b of a called me to go to the branch to pay 150 i told her i didnt have that money, and that i didnt have anyyone that can help me out but she insisted, i totally forgot to go because i hadda family emergency . she called me back again couple of days later saying if i dont make the payment, its going to cause me a big impact for 7-10 years, i never heard her say 3rd party, so its my fault and i feel bad. i dont want to go to court and pay 7000 which i dont have. :cry: and certainly not jail. not ready for this kind of things. i mean i told her i was willin to pay after my hubby got paid. but i guesss she didnt care =[. what should i do now?

You cannot go to jail for owing consumer debt! Even if they sued & received a judgment,they can only garnish the legal allowed percent which can be modified by court with a hardship plan.

so what do i do now? i dont have the 2981.45 at the moment. i am just scared because he said that the papers were ready for the court, he asked me if i received any paperworks i said no, i checked my mail yesterday and there was none. so i dont know if he's just threatening me but he's willing to help me out though, i have their number 1-866-816-3176 . but where am i going to get 2981.45? i mean we dont have that much in our bank account considering my husband is the only one working =[ .i mean are they willing to make monthly payments? cos i'll be glad to do that but i cant 2981.45 right away. ......

Don't let them scare you erica, those are most likely false threats in an attempt to get you to pay right away.

i know,its my fault though for not paying on time and for having alot of late payments. what should i do ? cos i need to call him today at 11AM?

You must look at your monthly expenses and see what you can pay after basic needs are met.Do not disregard the basic needs to pay on a debt as it could tilt you in far worse situations.

oh of course. that's true. am i still going to court if i dont pay the 2981.45 right away ? because thats the only thing thats stressing me right now =[ .

They must first retain a lawyer,file a lawsuit,and then serve you before you can go to court.

oh okay, the guy i talked to yesterday said, the papers are ready for court and that i have to pay 7000 with the attorney but i didnt receive any paperwork yet though?

if you are served it be by either your sheriff or some summons are sent through the mail.if by some quirk you do go to court,you can work arrangements.chances are the judge will not force a full payment.call this guy's bluff,tell him you will see him in court.

thank you guys for all your responses. i deeply appreciate it. i have to call this guy back , hopefully he can make arrangements, he's willing to help me out so we will see if he's telling the truth. i have nobody to help me out so he has to make arrangements somehow right? i need a miracle right now !

Most of my faily has recieved a call from Creditor's Exchange, they stated they were from the State's General Auditors Office, has to be a violation. They left a call back number and a "case" number. But when my sister called back the message stated Creditor's Exchange, WTF? She played dumb as if they got the wrong person. So I informed my family to ignore and not to call back. But what is the next step? I assume this hit their radar as my father just pasted away. Vultures!

They are a bunch of loudmouth cowards that hide behind there phones, they called my son's house about my debt and used bad profanity towards him. I would love to meet some of these loudmouth cowards in person and teach them a thing or two.

You definately won't go to jail. I got sued for a reposession, and was taken to court. Yes, it was my debt, so I didn't fight it or anything. I told the judge that I was not able to pay the $$ they offered me at the reduced charge, and I needed to make payment arrangements. So after the hearing, the lawyer and I sat and talked and made an arrangement that I could work with which was $100/month. This is what I offered the agency to avoid court, but they said they would only take a payoff. So, if by change, you DO get sued and taken to court, do NOT stress it. Judges aren't out to take everything from you. As long as you show a willingness to make some sort of arrangement, you will find that a judge is MUCH more understanding than any collection agency *insert unkind word here* will ever be.
Hang in there, for me, the worst part of this WHOLE situation was the stress I put myself through beforehand.

Here's the twist... As stated above my father pasted away and I don't know if the debt can be transfered to my mom or not?

Transfering a debt from one spouse to another is usually only allowed in a community property state or the debt falls under the doctrine of necessities. You now need a lawyer to sort that question out.

Check the fair debt collection regulations (they're online). A collection agency is not allowed to threaten a lawsuit unless they totally intend to do so (most won't if the amount is under a few thousand). Furthermore, most of the companies to whom you own the orignal debt hold the strings and do not authorize any collection agency to mention the word "sue, judgment, etc." If the collection agency threatens anything such as filing papers or suing, then you probably want to contact the original company and ask them if they intend to sue you. Just be calm and most likely you'll receive the same. Also, if possible, make sure you record everything you can or at least take excellent notes (get names, numbers, etc). In other words, collection agencies take a huge cut on your debt, while the original company only wants whatever you can pay. Again, read/study the fair debt collection practices and know what is legal and what isn't (the statute is pretty specific).

my brother and my father have the same exact first and last name. A few years back him and my dad made a deal on some property my dad had to cosign for. We got a lawyer, went to court but nothing came out of it. Seemed we owed HSBC mortgage on a shortpay but that was 'NEVER PROVEN" eventually our lawyer quit, even he knew it was bullsh, but we did get court documents over the years. We hadn't heard anything since around may of 2007. Now all of a sudden Creditors exchange is harassing my parents, I told my brother cos this is actually his debt. Meanwhile I pretend Im someone else and "habla no ingles." is that a good idea to pretend I am someone else? My father, who is ill and dying knows nothing about this and lives with me. What can I do??

Send them a DV letter along with a cease and desist letter by certified mail advising them to contact you by US mail only. They have to prove that it is your fathers debt.

Creditor's exchange uses inappropriate messages left on any phone number that they get. I owe no debt, yet they will not stop calling and leaving messages with their automated system. Can any government agency stop this and other creditors from calling me?

They are known for this. Send them a Cease and Desist letter CMRRR, advising them to stop the calls. I also notified the FTC about their calls, I haven't heard from them in about a year now.

I had calls from the same company. They called my husbands work. They say they are going to garnish his wages. If I get the letter of validation. Are they able to demand big payments right now. Please write back asap.

They can demand anything they please. That doesn't mean that you have to give it to them. And they can't garnish your husband's wages without taking him to court first, so that's a hollow threat. Also a violation of federal law.

What type of debt are they trying to collect on, when was the last time a charge or payment was made on the account, and what state do you live in, please? I'd like to check your state's laws.

If you already made arrangement but are unable to keep them

It is my husbands bill. Capital One about a year ago I am thinking. Thank you so much

Send them a demand for validation immediately.

The last payment was made in may of this year. My daughter made it. Then the one I made bounced.they wants to keep calling my husband at work. Can they speed up demand if I do the dv. Wont it make them really mad at us?

Since it is in my husbands name does he have to write it? They say I am just a guilty for not paying it. CONFUSED and REAALY REALY scared

There are know 2 collection agency saying they have this acct.

They can't call your husband at work if he tells them not to. That's the law. And while I'm at it, the law also states that they cannot talk to his boss about it. That's called 'third party disclosure', and you can sue them for it. Further, they have no right to work you up into a nervous tizzy over this. And no. If your name isn't on the account, then you aren't legally responsible for it unless you live in a community property state. And even then, there are limits.

Have they shown you what they're collecting for? You have the right to know what you're paying on, that the amounts are accurate, and that the people you're paying actually have the authority to collect that debt. The letter template I linked in for you includes a 'limited cease and desist' clause. Basically, you want them to never call you again, and only deal with you through the US Mail. You want to hear from them by mail, though, rather than just cutting them off completely, as that likely would precipitate legal action.

You could certainly put the letter out, but I'd recommend keeping your husband in the loop on this, seeing as it's his account. But both of you need to be on the same page with these people. And don't sign the letter. Just type the name at the bottom. Some of these places aren't above affixing that signature to some bogus document they whipped up in-house.

[quote=sce86]There are know 2 collection agency saying they have this acct.[/quote]

All the more reason to sesnd that letter before you or your husband send them dime one. You have to know that you're dealing with the right people on this. Who is the second CA?

Creditors Interchage

Those are some not-nice folks. Liars, cheats, and swindlers... And those are their good qualities.

They get a copy of the letter too.

If I work with the cc is it better and cheaper?

Depends on the circumstances. At this point, it's only 120-150 days delinquent, so it's possible that the OC still owns the account. Call'em up and ask. Lemme know what they say.

They said they sold it?

OK, that happens. Who did they say they sold it to???

You need to get that from the OC, if at all possible.