Best Course of Action
Date: Fri, 09/24/2010 - 10:35
Hi, I have a Chargeoff Account by an OC that reads as follows:
Account No.: 66**
Condition: Derogatory
Balance: $8151
Type: Credit Card
Pay Status: Collection/Chargeoff
I have a judgment on me from a JDB for this account. I called the OC and they did state that my account has been given to a third party which is not the JDB that filed the case. I'm assuming that the third party Hanna & Associates has given it to a JDB in my area to file the lawsuit.
What's also interesting is that if I look at the account, shouldn't the BALANCE be $0 and shouldn't the details of this account state that it has been sold off? But it simply says that it was charged off as bad debt Profit and Loss write off
I wanted to know what course of action i should take. Can I pay negotiate and pay the JDB and in return have the judgment removed AND the Chargeoff removed? (WOULD they be even able to do that? I'm worried that I'm just throwing money away) Or should I file a motion to vacate and then use the defense that OC does not know of the court case. (would evidence of the account not saying it was sold off, but instead saying it was charged off as bad debt Profit and Loss write off work?)
What do you guys think? Thanks
Account No.: 66** Condition: Derogatory Balance: $8151 Type: Credit Card Pay Status: Collection/ChargeoffI have a judgment on me from a JDB for this account. I called the OC and they did state that my account has been given to a third party which is not the JDB that filed the case. I'm assuming that the third party Hanna & Associates has given it to a JDB in my area to file the lawsuit.
What's also interesting is that if I look at the account, shouldn't the BALANCE be $0 and shouldn't the details of this account state that it has been sold off? But it simply says that it was charged off as bad debt Profit and Loss write off
I wanted to know what course of action i should take. Can I pay negotiate and pay the JDB and in return have the judgment removed AND the Chargeoff removed? (WOULD they be even able to do that? I'm worried that I'm just throwing money away) Or should I file a motion to vacate and then use the defense that OC does not know of the court case. (would evidence of the account not saying it was sold off, but instead saying it was charged off as bad debt Profit and Loss write off work?)
What do you guys think? Thanks
Did the OC sell the account? If so, whoever buys it can do what
Did the OC sell the account? If so, whoever buys it can do whatever they want with it, including selling it again.
All collection accounts are charged off...,it is an accounting term. That doesnt mean that it cant be collected on...so that is no defense.
