How many times can you be sued by purchasers of charged off accounts?
Date: Thu, 05/14/2009 - 19:44
Submitted by onebigasstruck2
on
Thu, 05/14/2009 - 19:44
Total Replies: 16
Ok, I never heard from zenith I don't know what thats about.
But north star, my and my attorney we're taking it to court.
So how does this work?
He said he doubts it'll ever make it to court. So I guess I can get sued by 10 other lawyers until one settles?
When wells fargo get sold, the buyer sues me, when does wells fargo disappear? How many times can someone buy my charged off account and sue me for it?
It looks like youre asking about one account--like how many time
It looks like youre asking about one account--like how many times can you be sued by different companies over the same debt? Is that the question?
The answer depends on what happens at trial. If you get it dismissed with prejudice, then all you would need to do if someone else sues you over that debt is produce a copy of the dismissal and that should kill the new case. But if you get it dismissed without prejudice, they can come back and sue again.
If someone already sued you and won a judgment against you, then I dont see how anyone else would be able to sue you over the same debt.
Your post is a bit confusing, because on one hand youre referring to debt collectors selling the debt to another collector, and on the other hand youre talking about multiple companies suing? Perhaps you could clarify a bit so we could answer you better.
Unless the case is Dismissed with Prejudice, they can continue t
Unless the case is Dismissed with Prejudice, they can continue to sue. Whether they actually will or not depends on them.
Quote:Your post is a bit confusing, because on one hand youre re
Quote:
Your post is a bit confusing, because on one hand youre referring to debt collectors selling the debt to another collector, and on the other hand youre talking about multiple companies suing? Perhaps you could clarify a bit so we could answer you better. |
I have a few charged off credit card debts. The highest is around 12,000 and the lowest around 2,500.
wells fargo is around 6,000
Why would wells fargo be sold two times now? I never heard a word from zenith, but capital star is suing me.
My question is this: Say this case goes through court and it works out in my favor. Whatever that might be, it might be I settle on half of the 6,000 and pay it. Or it never goes to court and I do nothing.
To be more specific and to the point, wells fargo SOLD my account to two debt collectors, how many debt collectors can it be sold to?
There is nothing that says they can't repeatedly sell it, they c
There is nothing that says they can't repeatedly sell it, they can pass it around like flapjacks if they wish. The good news is, though, every time they sell it it becomes harder and harder to properly validate the debt and if they cannot validate it, then they cannot enforce the collection in court.
Well thats great. I really don't understand most of the terminol
Well thats great. I really don't understand most of the terminology in the summons, but still I can see some holes in the case. My attorney said it probably won't even make it to court, maybe thats why I never heard from zenith.
This summons asks for a lot of information, most that I can deny because it's so vague. And I doubt they have proof that I even had the account other than the past due amount as shown on my credit report.
I know they don't have the original contract from 11 years ago when I opened it, I know that they don't have one sales slip with my signature, in fact they don't have anything with my signature on it.
Here is a summary of the court process: "http://www.nedap.org/ho
Here is a summary of the court process: "http://www.nedap.org/hotline/court.html"
Many of these collection agencies are sue happy because most people do not show up, or if they do, they barely contest it. Be strong and don't let them railroad you.
Yes, the legal field has a lot of spec-ialist terms in it, like any professional field. It is a challenge for outsiders to understand it and to respond to it in kind, which is the biggest problem with appearing pro se (on your own behalf, without an attorney).
Thanks for the link, great info. One other question. When th
Thanks for the link, great info.
One other question.
When these debt buyers are looking at my accounts can they see what I own?
Mainly things that have paper work such as vehicles.
If I have an expensive or valuable vehicle are they more likely to buy a debt to try to collect it?
And what if I have a vehicle in two different states? I do, I live part time in another state.
I'm being sued in one state can they see what I own thats titled in another state?
EDIT: NOT SURE HOW I GOT LOGGED OUT, I HAD THE EDIT THE MESSAGE,
EDIT: NOT SURE HOW I GOT LOGGED OUT, I HAD THE EDIT THE MESSAGE, HERE IT IS EDITED.
Thanks for the link, great info.
One other question. Or two.
When these debt buyers are looking at my accounts can they see what I own?
Mainly things that have paper work such as vehicles.
If I have an expensive or valuable vehicle are they more likely to buy a debt to try to collect it?
And what if I have a vehicle in two different states? I do, I live part time in another state.
I'm being sued in one state can they find out what I own thats titled in another state?
Sorry...the system will log you out after about 30 minutes of in
Sorry...the system will log you out after about 30 minutes of inactivity.
Since vehicle registrations are public record, they could probably find out. Not sure if the value of your vehicle would have anything to do with anything. Remember that JDB's but portfolios of debts in bulk. After they run the portfolio thru their various formula and algorithms, they will always go for the lowest hanging fruit first.
Quote:Since vehicle registrations are public record, they could
Quote:
Since vehicle registrations are public record, they could probably find out. |
Will they think to look in every state?
Quote:
Not sure if the value of your vehicle would have anything to do with anything. |
Well from what I've read JDB can potentially ruin your life. They have no clue what I own. The vehicles as you said are public record. What if they use there power (whatever that may be) to find out all they can about me and what I own.
They will find out that I have no income, no verifyable assets, BUT through public record they see that I have a $30,000 vehicle (just a # for arguement sake) with a valid registration, and valid insurance. They know that if worse came to worse they can get that vehicle to pay the debt. As opposed to a person in my exact same position with a vehicle registered and insured with a value of $500. They're more likely to come after the person who has something correct?
Quote:Will they think to look in every state? I take this as
Quote:
Will they think to look in every state? |
I take this as a yes (well they don't actually have to LOOK in EVERY state) since they took my SSN for ID purposes when I transfered the title.
I dont understand where youre coming from--how in the world woul
I dont understand where youre coming from--how in the world would a court order that you turn over a $30,000 truck to cover a $6,000 debt??
Christ you people are stupid. $30,000 was a number I just th
Christ you people are stupid.
$30,000 was a number I just threw out there. See in quotation marks where it says "just a # for arguement sake"
The question in simplest terms: CAN A JDC SEE WHAT ASSESTS I HAVE AND GO AFTER ME IF I HAVE MORE THAN SOMEONE ELSE.
DO YOU GET IT? IF A JDC IS LOOKING THROUGH OLD DEBTS AND CAN SEE THAT A PERSON HAS NOTHING, WHY WOULD HE SUE SOMEONE THATS HE POTENTIALLY CAN'T GET ANYTHING FROM? HE WOULDN'T, HE'D GO AFTER SOMEONE WHO HAS ASSETS THAT HE CAN SEE, AND IF IT COMES DOWN TO IT SEIZE THESE ASSETS. IT SAYS RIGHT ON MY SUMMONS THAT IF I DON'T DO ANYTHING THEY CAN COME TAKE MY STUFF, THREE LAWYERS AND THE SHERIFF ALSO TOLD ME THAT YES, UNDER CERTIAN CIRCUMSTANCES THEY CAN AND WILL.
WHERE THE HELL DO YOU COME OFF SAYING I HAVE A $30,000 TRUCK, YEA I GET IT, MY USERNAME AND MY EXAMPLE NUMBER.
IGNORANT PEOPLE NEED NOT REPLY. SO I GUESS THIS IS GOODBYE.
Well....calm down....don't let some a$$clown got you riled up...
Well....calm down....don't let some a$$clown got you riled up.....what you owe on a car has no bearing on the worth of the car....the reason why they would sue is there is always a chance that you WILL have something of value in the future. Judgements last a long time in the majority of states and can be renewed. Becausee you have nothing now doesn't mean you won't have something later.
FWIW I paid my car loan off a few years ago when I had good work
FWIW I paid my car loan off a few years ago when I had good work.
I own another car I paid cash for. I have about 6 CC's that are charged off.
And also FWIW I have no problem with debt management, I want to pay my debts, I want to work. I can't do any of this for as long I'm in the situation I'm in, which is taking care of my sick father in exchange for living expenses. There are no other family members to do it, and he can't afford a home care nurse.
I'm very, very mad because I went from a real good paying job in another state, doing a mans job to being a GDmn homemaker/caretaker/heathcare provider/etc/etc/etc/etc FOR FREE.
I paid on my CC's a whole year after I lost income, I paid by savings, selling about everything I own, etc. My intention was to find work and continue paying, up until the point I couldn't pay because I simply didn't have the money. I've been asked by BK lawyers why I'm still paying if I have no income. They said I should have stopped payment the day I stopped getting income. That makes sense now that I've read about the SOL, I'd at least be 18 months ahead on that.
I tried.
This explains exactly what I'm talking about, thanks Google. h
This explains exactly what I'm talking about, thanks Google.
http://www.associatedcontent.com/article/1652641/asset_search_and_debt_collection.html