$200k+ ... Ch 7? Fight? Help?!
Your debt has apparently been sold to Junk Debt Buyers. You are
Your debt has apparently been sold to Junk Debt Buyers. You are lucky, for, if they sue you, they can rarely prove their case in court.
I would ALWAYS send a DV letter to a CA...if they can't validate
I would ALWAYS send a DV letter to a CA...if they can't validate, they can't collect (which mean sue as well as report on your CRA).
Technically, you are ultimately responsible for the AMEX cards...the only other recourse I see is to sue your partner. If you are the authority signer on the card and you gave one to your partner, AMEX will still hold you responsible. Sorry to say.
Unless you are able to settle your debts, chances are, for $230K, AMEX WILL sue you. Without a source of income, there is no way you can pay this back. I would talk with several BK attorneys. Sorry to say (again) that this is probably your best avenue. I don't know your whole situation...so please, talk with the attorneys.
Sometimes, the hardest thing to realize is when to give up the fight.
Submitted by desperatelyseekingsanity on Wed, 06/24/2009 - 08:19
Considering Amex has sold this off 3 previous times to other CA'
Considering Amex has sold this off 3 previous times to other CA's who have been told either to validate or to contact my bk atty, and Amex even resent me normal "let's work this out" bills just 2 months ago, I think it's safe to say they have no validation to speak of. But, I need to have my ducks in a row before I speak out of turn.
We're already at almost 2 years and the sol here in CA is 4... my bk atty said to drag this out as long as possible, he didn't just rush me into filing bk. I have to trust that a little don't I?
What is the best form of validation letter to send? There are several in here, and several I've seen elsewhere... any guidance would be much appreciated.
Sounds to me that AMEX still owns the debt...they didn't sell it
Sounds to me that AMEX still owns the debt...they didn't sell it off...so the CA were just collecting on it...when you DV'd them, they sent it back to AMEX...IMHO.
Don't know what to tell you...if you have advice from several attorneys and they are all telling you the same thing...I would think that would be the way to go.
Since you already have a few DV letters, modify them to your needs...there is no one cookie cutter DV letter...just make sure it fits your needs.
Submitted by desperatelyseekingsanity on Wed, 06/24/2009 - 09:17