logo

Debtconsolidationcare.com - the USA consumer forum

Forums
  • Latest topic

collection law firm?

Date: Sat, 09/12/2009 - 02:18

Submitted by anonymous
on Sat, 09/12/2009 - 02:18

Posts: 202330 Credits: [Donate]

Total Replies: 10


My wife of almost a year now had 22,000 in debt through a local bank (line of credit and credit card) payments were high so she decided to use "Credit Solutions" wrong thing to do, they did nothing but take her money and say just the right thing to string her along and take more money. All of a sudden she gets a letter in the mail from a collection law firm , she sent a letter explaining her situation and next thing she knows, they set a court date for her.she spoke with them and after back and forth argueing they want 5.000 down and 500.00 a month, she then get the stipulation letter and not only do they want the 22,000 but thet added late charges and lawyer fees, the grand total of 26,500 dollars....now does that make sense?....cant afford to pay 22,000 so charge 26,500!?

may questions are:

did they most likely buy the loan from the bank at 30 cents on the dollar in hopes of making money?

is it too late to file bankrupsy, her credit is bad anyway so she does not really care .

Thanks

personal info deleted - Jason


Sorry, but I think I'm missing something here.

Has your wife been sued by this collector? Has she been served with the court papers?

What do you mean by they have set up a court date? What has happened in the court?

Has a judgement been placed against her?


lrhall41

Submitted by SC on Sat, 09/12/2009 - 03:57

( Posts: 3937 | Credits: )


I assume I am being sued by the 1. I have a hearing date set for this coming Tuesday. As my husband stated above, I attempted to "settle" so I would not have to go to court, but I believe they are being extremely unreasonably especially since I have heard from more than one person that this attorney's office most likely bought my debt for $0.25-$0.30 on the dollar. I am seriously considering filing bankruptcy over all this.


lrhall41

Submitted by on Sat, 09/12/2009 - 10:40

( Posts: | Credits: )


first check with your court clerk to see if suit was filed.if not send this attorney a DV letter.send it certified mail return receipt.if they did indeed buy the debt,then they can't validate it,and so their threats will cease.however.they can sell it themselves.in that case just repeat the DV process.


lrhall41

Submitted by paulmergel on Sat, 09/12/2009 - 10:43

( Posts: 15514 | Credits: )


What is a DV letter? Is there a way of postponing my hearing date? Thank you for your help!


lrhall41

Submitted by on Sat, 09/12/2009 - 11:01

( Posts: | Credits: )


I just pulled my credit report. The bank I owe my debt to shows account status as closed and payment status as charge-off. Does this mean it was sold to the collection agency? If so, should the attorney's office show on my credit report as "collecting" a debt?


lrhall41

Submitted by on Sat, 09/12/2009 - 11:40

( Posts: | Credits: )


Anytime a payment is 90 to 120 days delinquient, it goes into collections. The original creditor has the right to call you as much as they want but typically they sell it to a collection agency for a few cents on the dollar since they can write the amount off as a loss. Typically they want to collect it though as income.

You can still do a settlement; you just have to learn to ignore their harassing threats and learn the law. The attorney's office won't show anything; they are not the original creditor. The account on your credit report will simply say delinquent.


lrhall41

Submitted by debtmanagementguys on Sat, 09/12/2009 - 12:10

( Posts: 28 | Credits: )