the collector's lawyer sent me a letter saying that he will take this matter to the court unless he hears something from me within 30 days..what will happen if he sues? and what can I do at this moment? i tried to negotiate the debt but they just took the matter to the lawyer. i even asked breakdown of the total debt and state of limitation but they did not give me answer about it. i live in california and my last payment was january 2004. and the credit company charged off july 2004. please give me advice and help.
2006-10-12 05:32:38 · 6 answers · asked by i am in trouble 1 in Business & Finance ➔ Credit
get a loan and pay them off, then pay back what you can.
see this
http://debt-consolidation.50webs.org
2006-10-12 16:50:42 · answer #1 · answered by Anonymous · 0⤊ 0⤋
California has some interesting laws regarding debt collections. See the link below.
Many times it can be argued that credit cards are "oral" or "open" revolving accounts, and in California they are subject to a 2-year Statute of limitations. That is probably the reason why this lawyer is playing hardball now, because he knows that the SOL has expired and you have no legal obligation to pay.
I am not a lawyer, but it would be necessary to review the terms of your credit card agreement with an attorney to verify this.
In the meantime, note that collection attornies fall under the same laws that apply to collection agents (the Fair Debt Collections Act). And according to that law, they MUST validate this debt if you request them to do so.
Send them a certified letter/return receipt and demand that they do so. Tell them you need to see copies of all contracts, agreements, bills, receipts, and everything that was used to calculate what they claim you owe.
If they still fail to supply this within 30 days, you can at least counter-sue them for $1000 for violation of the FDCA in the event they take you to court.
Read the file below, and if you are still confused consult an attorney.
2006-10-12 15:45:56 · answer #2 · answered by Anonymous · 1⤊ 0⤋
You can send a cease and desist letter to collectors and if it's from a law firm you can tell them to stop or else they will be reported to their state's bar association and trust me it will stop I did it with a law firm in Utah and here in IL and they stopped with the quickness and every collector that's contacted me is greeted with a cease and desist letter and it's kept them off my back to allow me to get my financial situation together to pay down everything. Collection agencies use law firms for scare tactics and when you see past that crap they're just a tool to scare you into paying dont fall under the pressure with them.
2006-10-12 14:46:26 · answer #3 · answered by nabdullah2001 5 · 0⤊ 0⤋
i will tell you what my dad did, in malaysia, he had about RM15,000 debt in his master & visa , he wrote a letter to the bank and the lawyer's saying that he is jobless and have a very small amount of saving's and also he will be able to pay only RM50.00 per month and if the bank agree's to this i'll pay them back slowly.
they agreed and my father is still paying it
You know why the bank agreed a small amount is better than nothing
2006-10-12 12:47:16 · answer #4 · answered by vijay 1 · 0⤊ 0⤋
The worst thing you can do is to ignore the letter. The best thing you can do, is to hire an experienced debt attorney to reply with a debt validation letter.
2013-10-26 07:39:55 · answer #5 · answered by Mel Thompson 1 · 0⤊ 0⤋
they are attempting to scare you so you'll pay.
unless the papers are from the court, they are not actually sueing.
if they do take you to court, and win, then they may have the option to have your wages garnished, but of course tehy would have to proove the debt..... ( details and what not)
send them a letter in writing saying you disagree with the debt, without giving many detials, they have an obligation to prove it to you.
if they don't, they are not serious, just using scare tatics.
2006-10-12 12:43:24 · answer #6 · answered by papeche 5 · 1⤊ 0⤋