I have a credit card account that was charged off. I tried to work with the CC company, but they would not help me. It is with a collection agency now. I have sent them a validation letter (my 30 days is not up). I spoke with a man from the agency and told him that I mailed a validation letter when he called me. I told him if they could verify the debt, What my options were. He refused any payment plan. He said the only thing I could do was pay a lump sum to settle or they would serve papers on me. I told him if I had the lump sum, I would not be in this situation to begin with.
If it goes as far as them trying to get a judgement on me, can they take a lien on my house or levy my check account? The CC is in my name only. My house is in my husband's name (loan) both of us are on the deed. The checking account is joint. are in NC.
Is my next step to just wait on the verification from them.
2007-04-24 13:43:55 · 6 answers · asked by ssmc 1 in Business & Finance ➔ Credit
First - quit speaking to them on the phone. Do everything by mail and send it certified return receipt. If they call, tell them to send it in writing and hang up.
Never sign letters to a collection agency, only print your initials or type your name.
In that call, it is a violation to use threats that they have no intention of actually taking. And it is also a violation to use threats to coerce someone to make a payment.
If you had sent your validation request certified mail return receipt and they had called you "after" they signed for the letter - they had violated your rights by calling you before validating.
If you had included a limited cease and desist in your letter and they had called you after receiving your letter - they had violated by calling you.
You didn't mention how old the charge off is. The collecting SOL in NC is 3 years.
If it has been 3 years, or more, since you were 30 days late on the account and never brought the account current leading to the charge off - you are out of the collecting SOL. If that's the case, you have a right to send them a SOL letter - which tells them the account is no longer legally collectible and to take a hike.
If you are still within the collecting SOL, wait until they respond to your validate before sending them anything more.
While you are waiting for them to validate, check your credit reports to see if they are reporting. If they are reporting check for any inaccuracies and dispute those with the CRA's.
If they respond to the validation request and it is not proper validation, send another validation request.
If it is proper validation and they are reporting, you might send a pay for delete letter.
You should request deletion upon payment and you should request to pay a portion of the amount as "payment in full"
NC is not a community property state, your husband was not on the card, so if they sue and win, they can only place a lien on anything that is in your name only "and" only on what is allowable under NC's exemption statutes.
Judgments in NC are for 10 years and non renewable
The exemption statutes for wage garnishment is:
100% of last 60 days' earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees, etc.
Collection agencies must be licensed and bonded in NC.
Check with the North Carolina Department of Insurance to see if they are licensed and bonded
http://www.ncdoi.com/
You might go to the last link I have listed in my profile and do some reading in the Credit Forum.
2007-04-24 14:30:09 · answer #1 · answered by echo 7 · 1⤊ 0⤋
He was just trying to bully you into paying. Unless you owe the government, they can NOT garnish your wages. If you owe at least $1,000 it will show up on your credit report, and stays there for seven years, even if you settle. Try to get the guy to work out a settlement(if u can pay it off within 2 to 3 months). Maybe you need to contact a debt consolidation place. They'll take care of the collectors as well. Also if you mention "Harassment", they'll back off a little. I hope you don't owe Bank of America, because you're pretty much screwed if that's the case...
2007-04-24 13:55:23 · answer #2 · answered by Dreamy™ 4 · 0⤊ 0⤋
I have list a source below that has Fair Debt Collection Practices by Federal Law
2007-04-24 14:34:30 · answer #3 · answered by Joe S 2 · 0⤊ 0⤋
the other answer was wrong.in arkansas anyway they can get a judgement against you and yes your wages can be garnished so much from each payday till its paid in full but if your willing to try to make payments they have to accept that.they try to bully you but dont let them.i dont believe they can lien your house or anything that drastic but they can garnish wages as i said.and before anyone gets upset with me over saying there wrong,i know cause it happened to me and others i know.
2007-04-24 14:11:24 · answer #4 · answered by mamanana9 4 · 0⤊ 0⤋
go to www.adviceontime.com they specialize in collection agency, all the advice on their site, and forms are free of charge, its worth taking a look.
2007-04-25 02:34:43 · answer #5 · answered by MI6 2 · 0⤊ 0⤋
http://www.consumer.gov/idtheft/
VERY HELPFUL INFO. Get everything in writing.
2007-05-01 05:03:06 · answer #6 · answered by pennykid 2 · 0⤊ 0⤋