I have these 2 debts with Providian from 2001 and I just received a letter suing me... I called them and try to work things out so I can make payments arrangements.. the problem is I don't have a job since Oct.. I have been very sick and with no insurane... when I called them they offered to pay $427 on one credit a month the other $404 a month.. that's $831 that I don't have (that's also a rent).. what do you suggest I do???
Thanks
2007-01-25 05:57:30 · 8 answers · asked by Delfinazul 2 in Business & Finance ➔ Credit
Get yourself a good lawyer, (that of course will cost you).
2007-01-25 06:03:05 · answer #1 · answered by Anonymous · 0⤊ 0⤋
I know you probably won't want to hear from me, because I work for a law firm and we do creditor's rights representation, which is basically suing people who owe there creditor's money. First of all Providian is looking to obtain a judgment against you to secure the debt. These are good for 20 years, and will appear on your credit record. Once they obtain a judgment they will be able to restrain bank accounts, garnish wages if there are any, etc. Tell me did you get a letter, or a Summons & Complaint. My best advise to you is to respond to everything in writing, these will be documented disputes from you, which will prolong these events from taking place. And if you have been out of work for that long, and are sick, you may unfortuantely want to look into filing for bankruptcy, I know it seems harsh, but sometimes it is the only way out. Just if you do file for bankruptcy make sure you list all creditors, and if you own property make sure that you or your attorney file a Motion to Avoid Judicial Lien. This is only important if anyone of your creditors have obtained a judgment against you because a when they file a judgment with the court, if you own property thwy will also place a lien on your property and it will prevent you from being able to sell or refinance without paying off the debt. If you have any other questions e-mail me, I would be glad to help as much as possible.
2007-01-25 14:09:35 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You have to know your rights here. First of all, what is the statute of limitations for your state? If it's less than 6 years, the court will throw it out because it's 2007, and a debt from 2001 is not collectible.
Second, check your state garnishment laws. Garnishment is illegal in North Carolina, so if you live there they couldn't get a thing (not to mention the SOL is 3 years).
Last but not least, you don't have any money, so bottom line is it doesn't matter what kind of judgment they get, they can't collect.
2007-01-25 14:31:39 · answer #3 · answered by Kevin K 3 · 0⤊ 0⤋
I must agree with Tiger.....gather what ever documentation you have that may dispute or show payment for these bills and go to court and explain your situation. You have rights!!!! What these credit card companies bank on is your ignorance! They want you in debt for life!!! Also too credit card companies charge off your debt after some time of delinquency and then sell your information to collection agencies... who then in turn start calling you.....something that I debate the legality of. Anyway get a copy of your credit report and open up an investigation on any debt attached to you that is not rightfully yours. (You can request a free report from all reporting agencies- once per year) Good Luck to you!!!! Hope this info helps...
2007-01-25 14:15:13 · answer #4 · answered by k a 2 · 0⤊ 0⤋
Go to court and plead financial hardship. If this debt is from six years ago they are probably just trying to scare you because under the ucc codes if a debt is not paid on for three years it is erased. Call transunion get a copy of your credit report and dispute these debts under the ucc codes.
2007-01-25 14:04:00 · answer #5 · answered by tigerlilliebuick 3 · 0⤊ 0⤋
Go to court and hold your head high. And the judge will consider every thing and make the results.Remember, you can not get blood out of a turnip.
2007-01-25 14:02:50 · answer #6 · answered by ruth4526 7 · 0⤊ 0⤋
Go to court !! If you have a valid reason for being unemployed they cant take something from you, you cant give !!
And at this point if they are taking you to court your credit has already suffered so you have nothing to loose !
2007-01-25 14:04:39 · answer #7 · answered by Silly Mouse 3 · 0⤊ 0⤋
being in debt sucks. use this site to get quotes on debt consolidation. you'll be debt free in no time!
2007-01-25 15:36:13 · answer #8 · answered by big x 1 · 0⤊ 0⤋