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Being threatened by collector/law firm.

Date: Tue, 08/14/2007 - 10:24

Submitted by anonymous
on Tue, 08/14/2007 - 10:24

Posts: 202330 Credits: [Donate]

Total Replies: 8


I'm 72 yr's old and draw 370.00 a month retirement. I have a credit card that now the balance is 16,000.00 after late fees and over the limit fees have been applied. I was on a hardship program a couple of times with them, but missed a payment one month and they took me off. My account has been sold to Atlantic Credit and a collector/law firm by the name of John P. Frye calls non stop demanding balance paid in full. They want me to ask relatives, friends, they even 3 way connected me to 2 different loan companies in my area to apply for a personal loan for the money. One loan company he connected me to, Citi Financial, when they pulled my credit, asked what the value of my home is worth. I told her about 52,000. My husband and I did a reverse mortgage a couple of years ago and I think the balance shows about 101,000.00. I do not own anything I could sell or have anything they could take. I don't drive, so I don't even have a car. My husband doesn't know about the credit card, it's in my name alone. I'm not trying to get out of paying the debt, I can only pay so much a month. They won't even listen to that. They said that Atlantic Credit will not accept that. "Jeremy" told me I needed to sit down with my husband and ask him to help me, because if I don't let them know something in the next couple of days, it will be turned over to a local attorney and they will serve papers to my house on me and he will find out the hard way, and then my husband will really be mad . What are my options, or do I have any? I live in Tennessee, if the state makes any difference. It is a HSBC card. He was really hateful. What can they do or what can I do? By the way, when he did a 3 way call with Citi Financial, the lady told me that if my only income is my retirement, that it can't be garnished and they can't put a lien on our home, so as long as I send them 10.00 a month their is nothing they can do. Well "Jeremy" must have been listening in, because the loan company line went dead, and he was furious!!! He said "I don't know why they tell people that, this ain't the first time this has happened, then they will turn around and send us their business, they need to stick to lending money, they don't know what they are talking about, if you listen to them, you'll be sorry!" So I'm a little confused---- HELP!


Frye, I understand is notorious for such calls, and breaking the law. What they are doing is fraud. They purchased the account for next to nothing and are lying and trying to coerce you into taking out a loan to pay them. Send them a letter, registered return reciept, telling them that you'll only be dealing with them in writing. If they phone after that, sue them. You'll get no truth on the phone from them. The lady from Citi Financial was telling you the truth, that's why the line went dead. Retirement is ungarnishable, but be warned, when you put it into the bank it some times can be garnshed. They also broke the law by telling you that legal action will commence in the next few days, if none is intended. Check with your state law as well, especially regarding persons over the age of 65 and debt.


lrhall41

Submitted by Law Student on Tue, 08/14/2007 - 19:49

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Definately send a limited cease and desist letter, stating to write you only. I would also include a DV (debt validation). They have to stop all collection attempts until they verify the debt. Many times these companies who buy debt don't have the proper paperwork that they need to show you.

If they do validate then just start sending a money order for what you can afford to pay and call their bluff...even if they did take you to court, you could show the judge that you are doing everything humanly possible to pay off this debt. No judge will make you pay more then you can afford.


lrhall41

Submitted by goldenbast on Mon, 09/24/2007 - 06:53

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John P. Frye is under the Collect America franchise (Phillip Scott Lowery) oh boy.


lrhall41

Submitted by JCEMT on Mon, 09/24/2007 - 08:07

( Posts: 2934 | Credits: )


Please follow Law Students advice! Also, do not ever tell them, or anyone you own anything. I used to tell them my whole life history, not any more.

Law Student- a question- If they put her in touch with a 3rd party, and gave the third party info about her- is this not illegal?

I had a collection agency contact Wells Fargo and tell them I need help-which in turn they called offering a loan. I had never heard of Wells Fargo then, and let them have it for giving my info to a third party(financial)..KAren


lrhall41

Submitted by Bossy4455 on Mon, 09/24/2007 - 10:32

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If I understand the question, yes they could give a third party collector all the information they have which could be used to collect a debt. This is supposed to be strictly confidential. But they couldn't call up some loan company, such as Wells Fargo, and give them your personal info in order to try to get a loan for you.


lrhall41

Submitted by Law Student on Mon, 09/24/2007 - 16:29

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