I posted a question last week that I recieved very good responses on. The problem now is my mom went to a Bankruptcy Lawyer to get information on filing bankruptcy. I asked the lawyer when I was there about my Capitol One credit card bill for $3000+ she claims there is no statue of limitations on sueing and garnishing wages. Especially when companies buy your debt from them. They can try and take you to court at anytime. Is this actually true??? Also she says that even though I'm paying money on certain debts if its not what the debtor's want from you they can still garnish your wages for more. I'm major confused. Here was my origional question....
http://answers.yahoo.com/question/index;_ylt=AvGUSkGvrEVnd4I85ChKTEDsy6IX?qid=20060805064253AA8ZlxO
I'm at the point where I'm going to declare bankruptcy in January if they can go after me. I already have over $10,000 in debts and am 29 years old so I can recover from it.
2006-08-10 17:05:19 · 6 answers · asked by slytherin_95 4 in Business & Finance ➔ Credit
Wendy...you gotta trust me on this one. Your lawyer's advice is amazing, and I would strongly recommend that you look for a new one.
I can point you to the website that has the state laws concerning the SOL. It's all right there!
Yes, the creditor can still sue you. But all you have to do is file a motion to dismiss based on the expiration of the statute of limitations. Any lawyer with 3 days of legal education knows this!
Maybe this is what is confusing your lawyer. If a company buys the debt, it "could" be argued that this constitutes a "transaction" and may restart the SOL. This is a gray area in some courts, and some judges have ruled differantly. Many state laws are too vague. Several (mine especially) detail exactly what a "transaction" is, and says it's either a charge or payment on the debt. The mear attempt to call a collection agent does NOT constitute a transaction in my state, but it may in others. But I would seriously doubt that selling the debt will restart it in any state.
Get a second opinion. Lawyers are no differant then doctors, they make mistakes. Lawyers specilize in certain areas, so someone who specilized in bankruptcy is terrible at criminal law. Real Estate Attorneys shy away from divorce cases.
I know of a case where, someone's bankruptcy got dismissed due to an irresponsible error on his part. Proves just cause they are a lawyer they don't know everything.
2006-08-11 07:36:45 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I wonder where that lawyer got her law degree, Idiots R Us University???? She's totally missing the mark when claiming that there is no SOL for suing etc. And for her to say that if the money you are paying is not what the debtor's want, they can garnish your wages for more is strictly B.S. They CANNOT just up and decide for themselves to garnish your wages!!!
I sure wouldn't trust that lawyer to handle squat for me.
Maybe you should do her a favor and print out the FDCPA, FTC and your state statutes and give it to her, she obviously needs to read them.
The statute of limitations in your state for a credit card is 5 years.
Your SOL starts to run from the first time you were 30 days late and never brought the account current leading to the charge off.
"You still have not made it clear if you have been still paying on this debt."
As long as you are past the 5 year SOL, the collection agency cannot "legally" sue. Which means, they can sue but it would be illegal for them to do it and you can file a counter claim for them filing suit on a time barred debt.
Studly had given you some "excellent" advice on what to do to handle this on that last question you had linked to.
2006-08-10 21:15:24 · answer #2 · answered by echo 7 · 0⤊ 0⤋
There are one of several possibilities here: (1) you misunderstood what the lawyer said; (2) your lawyer misunderstood the question; or (3) the lawyer is not particularly smart. Every state has a statute of limitations for credit card debt.
Sometimes debtors will experience "zombie" debt that follows them forever. Even though it might long be legally uncollectible, it will keep being resold and sow up on your credit long after the 7-year period expires under federal law for reporting bad credit.
Either way, I would say it is time to find a new attorney.
2006-08-13 03:28:48 · answer #3 · answered by Carl 7 · 0⤊ 0⤋
Echo and Studly's answers are absolutely correct!
All states have statutes of limitation for debts. The key word the attorney used is "TRY". Any junk debt buyer can try to sue you for old debt for as long as it's being bought, but that doesn't mean you owe it. If you do get a summons to appear in court, by some odd chance, answer it. Most subpoenas let you argue to the court why you shouldn't have to pay. Make sure you get it to the court within the time period, and let them know the SOL has run out a long time ago ( in Missouri 5 yrs for open-end accounts/credit cards) and the collection agency is entitled to nothing. Give copies of your credit reports as part of your proof.
Collection agencies cannot just garnish your wages! They must win a judgment against you first, then after you refuse to pay, they can file for a Writ of Garnishment.
Don't pay anything! Give the CA a Cease and Desist letter and let them know that the SOL has run out.
2006-08-11 04:41:28 · answer #4 · answered by Celeste 6 · 0⤊ 0⤋
certain and No - relies upon on how they went about it from the initiating. in the adventure that they were given a judgement on you it may proceed to be on your credit record for as a lot as 7 years. After the 7 years this can come off except they take it back to court docket and performance it re-uped which will upload yet another 7 years and they could try this invariably. It sounds as tho they already have a judgement because this can be necessary for garnishment. i do no longer recognize how a lot the bill is for besides the undeniable fact that it truly is likely in third section collections and they are going to continuously settle for a lesser volume. many times can get them all the way down to about 50%. in case you said as stated you've been unemployed(in case you've been for sure) and also you're able to borrow the money yet that is all that ?? (mom and dad) could personal loan... You get the image.... reliable success
2016-11-24 19:34:41 · answer #5 · answered by ? 4 · 0⤊ 0⤋
You don't want to recover take my word for it. I did it I filed chapter 13 in 2002 after a bad divorce, to save my house for my kids. I felt so bad about it I dismissed it and just finished paying off all of my old debt. I am not obsessed with getting my credit back am up to a 659 credit score but want better.
2006-08-10 17:48:05 · answer #6 · answered by jodi_lynn_124 2 · 0⤊ 0⤋