I am sick with nerves,I need some advice

btw my SOL here is 5yrs

is it likely for them to validate debts this old? after changing hands so much?

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newb,
it's 5yrs,so I'm not there yet :(

They cannot take your income if it is SS, which is one of a few incomes exempt. It also does not matter how much you get, even if you have a $1,000 left over every month, they cannot touch it.

As for your bank account, all you have to do is prove that all income in there is from SS and you will be all set.....If they did get a judgment and tried to garnish your bank account, some states they, the courts, put a freeze on the account and you usually have 30 days to prove your income is exempt.

So if they did get a lawsuit and you never EVER plan on returning to work, you can pretty much laugh in their face as they can't get a dime from you.

One thing they can do, whether they are exempt or not, is take your assets. If you had say, a car worth $20,000, depending on state law, they could take that. If your state has an exemption of $2,500 and your car is worth $2,400, they cannot touch that either.......If you had a Plasma TV that was not exempt, they could take that.....and so on.

I know you said you have no assets but look at it this way, most states, a judgment is good for up to 20 years....So someone like me who is also on SS, I have a judgment against me my income is exempt and I have no assets.BUT say in 18 years I plan on going back to work, that is when they can start to garnish my wages as long as I make enough to the point it is not exempt. So when they sue you, they hope at one point they or another company can get $$$$$$ from you. Also all them years, the interest keeps building up...Furthermore, once they give up, usually after a few years, they will sell it as a judgment is usually good because you have allready been sued which shows you owe....If another debt collector purchased judgments, they would not know that your income is exempt until you tell them....I have been through that too and they say they will tell their legal staff that I refuse to pay,lol.

You really shouldn't be scared and if you do get sued, you deny it 100% in court all the way and hopefully they lose in the end....if they win, they are still losing as they cannot get a dime from you.

Hope this takes some stress off for you!!!!

I do have a car,the kelly blue book,is about $4000.$1000 less for trade in value,not sure how they determine the value.

I don't want a judgement,I hope to be able to work part time Eventually in my lifetime!

I can't believe I was foolish enough to think they would just not sue me,can't get blood out of a turnip & all that,well no,maybe not,but they can make the turnip a nervous wreck until they eventually go insane! lol

You should DV them regardless, force them to prove you owe these debts and make sure they are collecting the correct amount.

I think you would have to see what your state charged you for interest when you registered the car.....that should give you an idea of what they value it at.

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maybe I should make it clear,I have not been summons or sued yet,I'm just scared to death that is what is coming next =/

I really want to believe if it hasn't happened yet,it is not going to happen,but I know now that is naive

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If they can't or won't produce any validation, they likely won't be able to produce any in court either. Get your credit report, start playing hardball. If they are reporting it as an open account, that is a violation supported by caselaw, if they report you past due, that is a violation as well, since you have never made any type of agreement with them. Technically, they should only be reporting it as a closed collection...the e-oscar (the program the CRAs use) supports this as well as numerous caselaw and opinion letters.

Saddly CAs almost always report incorrectly and many people just don't bother with it.