Yep.. and probably over various county jurisdictions.
And not all people that get into debt are deadbeats. Thats not a very fair generalization
Yep.. and probably over various county jurisdictions.
And not all people that get into debt are deadbeats. Thats not a very fair generalization
Have her contact the attorneys and work out a new payment plan. Usually, you can negotiate a lower total amount, especially if you increase the monthly payment size. Nobody wants to wait 9 years to get back their money.
BTW, maybe you should seriously re-think this relationship. She screwed up years ago, she screwed up a few months ago, and she screwed up recently. Do you really want this kind of baggage for the rest of your life?
BTW, maybe you should seriously re-think this relationship. She screwed up years ago, she screwed up a few months ago, and she screwed up recently. Do you really want this kind of baggage for the rest of your life?
It's too late to call and work out a payment plan. He already filed to have her wages garnished, it's just awaiting the judges review.
P.S. Wait for what money back? These "Scavenger debt collectors" buy these accounts for pennies on the dollar and then tack on their interests and attorney fee's.
Read about it yourself. It is exactly what they are doing to her.
cKGunslinger
Lifer
- Nov 29, 1999
- 16,408
- 57
- 91
Now I'm curious. My brother has debt I was considering helping him pay off, due to a recent rash of collectors calling him, but the debt is from a CC that was charged off in 2002. Can he simply send a "You're SoL, because of the SoL" letter to any collector?"
I asked him for details and he just IM'd me this from his his latest pulled credit report:
Date Opened:
02/1998
Type:
Revolving
Reported Since:
11/1998
Date of Status:
09/2002
Monthly Payment:
$0
Last Reported:
03/2007
Responsibility:
Individual
Credit Limit/Original Amount:
$3,600
High Balance:
$5,978
Recent Balance:
$5,978 as of 03/2007
Recent Payment:
$0
Hell, if I could get off with not having to fund his broke-ass, that'd be great.
I'd have a lawyer send them a notorized and certified SoL letter. Why not spend at most $100 to make sure you save $6000?
cKGunslinger
Lifer
- Nov 29, 1999
- 16,408
- 57
- 91
Originally posted by: elwood
I'd have a lawyer send them a notorized and certified SoL letter. Why not spend at most $100 to make sure you save $6000?
But is it past the SoL? It says status'd and C/O'd in 2002, but it looks as if it's been continuously reported since then.
It depends on the state, you need to know what the SOL is in your state. If it's been longer than that since the date of last activity then they're pretty much screwed. Doesn't mean they can't still harass you for it, but if they try to sue you it's an affirmative defense.
The continuous reporting is normal, the date of last activity is what matters. Has he been in contact with them? If so he needs to stop right now. Don't do ANYTHING that could re-age the debt.
CreditBoards is by far your best resource on this, I know the basics but I'm no expert. Fortunately (or unfortunately, for entertainment purposes) I've never had to deal with a collection agency.
Viper GTS
Creditboards is an excellent resource. I signed up there a couple of years ago when I was sued. I've definately become a more informed consumer, in regards to how these scum bag debt collectors operate.
Like Viper has stated, you need to stop communicating with them. (at least by phone). Everything needs to be in writing.
In my case, in Maryland, SOL begins computing from the "cause of action". In English: when payments stopped being made.. and once it became 30 days late, and was never caught back up. So, it usually begins ticking from that point.
"Cause of action": What caused the action that the original creditor/debt collector can take? By having your first late reporting period, that was the point that action could/should have been taken on this indebted account.
Debt collectors like to wait a while though.. almost a stall tactic; then they hope they have the right dates, and try to file suit close to the time they think the SOL is up.
Get a new GF. This is the best possible advise anyone can give to you since that lack of financial planning will be passed on to your shoulders. Not only did she get herself in massive debt, but she ended up being late on the mediated payments. AVOID AT ALL COST, SEX CAN BE HAD FOR CHEAPER!
This helps me out, some scum sucking debt collector is harrassing my GF about a repoed car from 7 years ago.
HAHAHA Spoken from a true nerd. Everything is not black and white. Wow, because someone has a financial issue is reason enough to get rid of them. I hope you don't have a kid that is handicapped or not perfect, otherwise you'd abandon it or drown it in a river, right?
You are actually comparing having a handicapped child to someone who spends like a drunken sailor?
A woman with 9K in credit card debt (with one creditor only we know of) is a serious warning sign to me, much like how a woman with kids or a criminal history would be a warning sign. We're not talking student loan debt, but credit card debt. If any serious relationship were to happen, it would need to be on the basis that such a huge financial weakness would be under control somehow. In the OP's case though, it's far from under control.
A debt is a debt. I wouldn't pass judgement on them until I know how she got those debts in the first place. What happen she got medical bills that she paid with CC? Is she still a bad person now in your eyes now? You don't know sh*t and already pass judgement.
It doesn't take 90 payments of 103$ to pay off a 900$ debt. From the way you wrote it, it sounds like the 900$ is either the money left to pay out of those 90 payments, or the money owed in backpayments when your GF stopped making payments. Either way, it sure isn't 900$ anymore.
There's a giant YAGT financial crisis thread on the first page thread. My comments were made in jest but it's a serious consideration you must worry about, and one that she must be made fully conscious about if she isn't already.
$900 was the original debt. It's over $3600 with the attorney and filing fee's. With the awesome payment plan of 90 monthly payments you have to factor in the interest for 7.5years thats where it comes to over $9000
Homerboy
Lifer
- Mar 1, 2000
- 30,890
- 5,001
- 126
I was commenting more on the fact that EVERYONE assumes the debt collector/attorney is scum and a scavenger.
Go figure this girl racks up a shopping bill YEARS ago, apparently doesn't bother to do anything about it meanwhile compiling interest on top of interest.
The CC company charges off the balance and either sells it outright to the agency or puts them on commission to collect it (you will find commission on CCs is MUCH more prevalent that a "sale" of the debt to the agency). To get the garnishment stage she would have had to ignore repeated letters and phone calls (otherwise the judge will deny the garnishment and no agency/firm is going to try to skip that step especially being that is a cut-and-dry violation of the FDCPA)
She ignored all the contact form the get go... the CC company, the collection agency and the attorney. Now she is paying the piper.
Go figure this girl racks up a shopping bill YEARS ago, apparently doesn't bother to do anything about it meanwhile compiling interest on top of interest.
The CC company charges off the balance and either sells it outright to the agency or puts them on commission to collect it (you will find commission on CCs is MUCH more prevalent that a "sale" of the debt to the agency). To get the garnishment stage she would have had to ignore repeated letters and phone calls (otherwise the judge will deny the garnishment and no agency/firm is going to try to skip that step especially being that is a cut-and-dry violation of the FDCPA)
She ignored all the contact form the get go... the CC company, the collection agency and the attorney. Now she is paying the piper.
Joemonkey
Diamond Member
- Mar 3, 2001
- 8,859
- 4
- 0
I hate to admit it, but Homerboy is right... I used to work for a law firm that had a collections department and I originally felt sorry for some of the folks, but when they showed me all the chances they had, all the time that had passed, I stopped feeling so sorry for them. They had their chances to pay it off back when it was still cheap, they just ignored it thinking it would go away.
Homerboy
Lifer
- Mar 1, 2000
- 30,890
- 5,001
- 126
The ONLY ones I occasionally feel sorry for are those medical bills we collect on (mind you those dont incur interest in most cases so we are only collecting what they originally owed) Usually those tend to be true sob stories. I have no sympathy for those that ring up CC bills, ignore countless warnings for years then cry a river when the judge says to pay up.
I've heard many calls about people not wanting to have to have to cancel their cable bill to pay a CC debt or having a cell phone bill while they owe back taxes. But of course its always the collector/lawyer that is the weasel scum bag.
I've heard many calls about people not wanting to have to have to cancel their cable bill to pay a CC debt or having a cell phone bill while they owe back taxes. But of course its always the collector/lawyer that is the weasel scum bag.
Homerboy
Lifer
- Mar 1, 2000
- 30,890
- 5,001
- 126
Originally posted by: elwood
I'd like to know how much they bought this account for and how much profit they stand to make.
Well #1 (if you read my post) most CC debt is going to be on commission basis it is usually not "purchased". Most "purchased" debt goes through a MAJOR debt purchasing company and is then farmed out again to the collection agencies/attorneys.
The commissions (mind you not "profit" as you pointed out) is usually anywhere between 15-30% depending on the type of debt etc.
Edit: and IIRC correctly any court fees associated with the debt are then incurred by the debtor not the agency/attorney.
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