What is the worst thing that can happen when you are sued?

Quote:

Originally Posted by Anonymous can a credit card company sued me for debt since 2001 and now its 2010 without warning seize my car

You need to fill in more information.

Anyway, most likely the statute of limitation was over if the debt was originated in 2001.

When did you default on the loan?

A credit card company sued us six years ago. We could not make any arrangements at the time, nor have we since then. The debt has been purchased by others. Does the new owner of the debt have the judgement rights of the first owner? We've had calls from the new owners on this so we want to know how to handle this.

I have a credit agency thresting a law suit. I can't afford a wage garnishment, nor a lein on my home. I tried to work woth the creditors when I began having problems. They asked me what I could afford monthly. I told them and I was told it wasn't enough...How is it not enough. Mind you at this point I was only one month in the rears. The debt is only $500.00 a court case will be so much more. I don't understand why they won't work with me. If I can't afford $500 how am I going to afford $700.00 for a bankrupcy?? I don't know what to do. My credit used to be good until this. I've had rising cost of Healthcare and such that have cut into my pay, I used to work two jobs, but know only work one. What am I supposed to do?

Is this a credit card? If you are only 1 month late no one is going to sue you. Who said this?

Quote:

Originally Posted by Anonymous A credit card company sued us six years ago. We could not make any arrangements at the time, nor have we since then. The debt has been purchased by others. Does the new owner of the debt have the judgement rights of the first owner? We've had calls from the new owners on this so we want to know how to handle this.

You need to check the statue of limitations for your state. You need to send them a debt validation letter ASAP.

my date of last payment was 1/2006 date of first delinquency was 2/2006. There is a 4 year sol where I live date as of today 2/2010. Is this within the time legal. I was filed suit against the 2nd week of 1/2010.

I followed the Bill of Rights Artical 7 I made sure and payed by Certified mail to card companies what I could afford. They always on my next statement thanked me for my payment. They sold the debt to some collection agency. What are my rights? cAN Can they sel it and if so does the Collection of whom I have no contract with Collect?

Quote:

Originally Posted by Anonymous I followed the Bill of Rights Artical 7 I made sure and payed by Certified mail to card companies what I could afford. They always on my next statement thanked me for my payment. They sold the debt to some collection agency. What are my rights? cAN Can they sel it and if so does the Collection of whom I have no contract with Collect?

Hi OB, depending on the scenario, it??? s true that the original creditor can sell off the dues to some collection agency.

But, firstly I would like to know, how late are you from the current. You can send a debt validation letter to the CA and you will be able to ascertain your debt. Along with that, you can figure it out whether the debt has been sold off or assigned to them.

Once the validation is over, you can also request the original creditor to pull back the account from the CA.

Quote:

Originally Posted by Anonymous I followed the Bill of Rights Artical 7 I made sure and payed by Certified mail to card companies what I could afford. They always on my next statement thanked me for my payment. They sold the debt to some collection agency. What are my rights? cAN Can they sel it and if so does the Collection of whom I have no contract with Collect?

Where are you getting this information? Paying what you can afford, less than the scheduled payment will make you past due. Sending certified mail was a waste of money. Sounds like they charged you off and sold the account which they CAN legally do. Did you read the fine print on your card holder agreement? It usually mentions "sucessors" which would include collection agencies purchasing the account.

Quote:

Originally Posted by SOAPLADY Where are you getting this information? Paying what you can afford, less than the scheduled payment will make you past due. Sending certified mail was a waste of money. Sounds like they charged you off and sold the account which they CAN legally do. Did you read the fine print on your card holder agreement? It usually mentions "sucessors" which would include collection agencies purchasing the account.

hello mods,

can you please stop treating people like idiots, most people that come here have no clue of what they are doing.

you mods need to put yourself in other peoples shoes to understand both sides of the story, this being said you will be heard much more.

having a purchased debt is a good thing, that means they purchased it maybe as low as 5 cents on the dollar, now they can settle it at maybe 15-20 cents on the dollar or hopefully less.