charege off don't want suit
Date: Sat, 09/26/2009 - 17:51
The debt was listed on CR for 7700 and owned by Riverwalk Holdings in May and June and I received calls from a CA on their behalf in June. Not knowing any better at the time, I called the CA who said they were repping lawyers called Riverwalk. I said, "I don't know what you're talking about, I'll talk to the actual lawyers please." CA responded, "I'll just tell them you refuse to pay" and hung up. Haven't heard from them since and the account from Riverwalk was off my CR as of July.
In the last 10 days I've recieved about 4 calls from Stellar Recovery. They leave a recorded message asking me to call an 800 about a debt. I'm guessing this is in regard to the same debt b/c they are the only ppl who have my home and cell (I have another charged off Debt from Dell but I'll save that for another day)
Since the original creditor charged off the debt, I have received NO NOTICE via mail regarding this debt.
I make decent money but have alot of necessary expenses and a family to care for financially. I can probably get together about 2 to 3k in the next couple of months for a settlement or do long term payment for about 100 to 150 per month.
I am living in constant fear of being served. I DO NOT want to be sued and want to start dealing with this. But being that debt is not even on my CR I don't want to stir up trouble. I know the debt looks like alot but I had the account for 10 years and probably paid the original principle back twice over and know Chase sold the account for pennies on the dollar. Thus, I have zero guilt about settling for a percentage of the debt.
Anybody deal with Riverwalk?
Is it possible they actually sold the debt to Stellar?
What are my chances of being sued?
How would they treat me if I contacted them to make a payment arrangement? How do I find out who actually OWNS the debt? I don't want to pay some unscrupulous JDB who already sold off the debt.
This is all very new to me. Any help is appreciated.
Seems as though you have two ways to handle this. Reactively, or
Seems as though you have two ways to handle this. Reactively, or proactively.
A reactive stance would be to sit back and allow them to make the next move. Stellar is already in 1 by not sending you the required dunning letter within 5 days of initial contact. The advantage of a reactive stance is that they may give you more information without you having to force it out of them. They may also continue to make actionable mistakes. The disadvantage is that you may get sued, which is not the end of the world.
A proactive stance in this situation would be to hit them immediately with a strongly-worded demand for validation of the account, along with a limited cease-and-desist order. Advantages of this course are that they'll have to either put up, or shut up. The disadvantage is that it constitutes a significant escallation of the situation, and could provoke a suit.
The choice is yours. Either way, they'll have to validate if they want to collect. You can ask for validation during discovery, if nothing else.
Also, there's a search box in the top, right corner of this page
Also, there's a search box in the top, right corner of this page. You can use that to search our site on Riverwalk and Stellar Recovery, to see what others have written about them.
Thanks. But how would I prove they never sent the dunning lette
Thanks. But how would I prove they never sent the dunning letter? Do they have to send it registered? Is the burden on the CA to show that I signed for it? And what does the violation get me in terms of the debt I might owe?
