I live in NC. In 2003 I defaulted on a $5000 C.C balance. A few months ago a lawyer group had aquired the debt and contacted me. I started paying $100 a month, but missed last month. Now the lawyer is contacting me saying they are going to file papers for a judgment (even though I have no problem mailing in my last payment). I know the SOL is 3 years in NC, but did I restart the clock by making the payments recently? Also, can they file a judgement. And if so what does that mean?
2007-10-12 02:56:57 · 7 answers · asked by Waji A 1 in Business & Finance ➔ Credit
I thought that since a credit card was an unsecured loan they couldn't go after property or garnish wages?
2007-10-12 04:21:16 · update #1
Also, if they can't serve papers to me, they can't file a judgement right?
2007-10-12 04:23:18 · update #2
When you paid them you started the S.O.L. over again so yes they can take you to court and get a judgment.
If they do this they can attach bank accounts, garnish wages (if your State allows it) and file liens on any property you may own like cars, boats, land and homes.
Additional inrormation;
The type of debt has nothing to do with getting a judgment. If they can not find you to serve you all they have to do is post it in the newspaper.
2007-10-12 03:01:46 · answer #1 · answered by ? 7 · 3⤊ 0⤋
Yes, you did restart the clock by making a payment. They can file a judgment because they want to lock you into paying. It's no reflection on you. But I think it's just a scare tactic to get more money out of you per month. They're trying to do that or get the money up front, now, by attacking your assets after obtaining the judgment or performing a wage garnishment. Assets like your car. You're paying, right, so worry not. Don't be surprised if they file the paperwork and they talk to you about higher payments or a settlement. If this happens tell em to go f*ck themselves and take a picture for Vanity Fair. They can read your one line answer to their complaint and you'll see them in court at the hearing. If they coulda taken it, they woulda, right?
2007-10-12 03:05:51 · answer #2 · answered by ? 3 · 0⤊ 1⤋
Bob, thats not entirely true. I just had a debtor file banko on an account that I have a judgment against her on. When I was awarded the judgment I had the court issue a FiFa/writ of execution against her house. When she filed her banko papers she stated I was not a secured creditor, which is partially true. The account was not secured, but the judgment IS secured by the house/property that was attached by the FiFa, making me a secured party on the house. That was according to my attorney who defended us in court.
2007-10-12 18:59:44 · answer #3 · answered by kshawks18 2 · 0⤊ 0⤋
"Unsecured" means that they do not have an automatic, high priority ,claim on a specific piece of property, like the car in a car loan or a house in a mortgage. They have a general creditor's claim on all your assets, but they have to go to court to enforce it.
2007-10-12 05:22:14 · answer #4 · answered by Ted 7 · 0⤊ 0⤋
You entered into a new contract with the lawyers when you started paying them. They 'bought' your old debt and are really just bill collectors. You would've been better off never paying them, because now your credit will look bad for longer.
2007-10-12 03:01:47 · answer #5 · answered by ryan c 5 · 1⤊ 0⤋
as quickly as you have desperate to fell aside, going by potential of legal is often extra ideal. Eventhough it truly is mutual, bypass legally. in case you opt to do without attorneys, you may flow to courtroom immediately or touch any of the females secure practices centre. once you assert mutual it truly is robust to bypass by potential of attorneys. matter would be over interior of days because it truly is mutual.
2016-10-22 03:33:05 · answer #6 · answered by ammon 4 · 0⤊ 0⤋
if suit hasnt been filed yet in the case in any manner..and the statute has passed, then they cant file a judgement.
i'm not positive of this but i'm about 70% sure?
2007-10-12 03:03:14 · answer #7 · answered by Anonymous · 0⤊ 3⤋