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Showing content with the highest reputation on 08/25/2017 in all areas

  1. No matter what they get paid, it's profit and loss. Just like any business, they get a tax break for losses. The point is that it's waste of their time and resources to keep uncollectable accounts on the books. Lawsuits cost money. Not every state allows for garnishment. Even in states that do allow wages to be garnished, some people have no income to garnish, so the banks have wasted money on lawsuits and attorneys and get nothing in return. It's merely a business decision.
    2 points
  2. I don't know if you intended to include me as one of the members you think is taking up the opposing side, but let me just state for the records I'm not taking any side with regard to the question of business records. It's a double edged sword. If we take a position that they shouldn't be admitted, then we are shooting ourselves in the foot if we happen to have records proving we paid off the account, or that the last payment makes the debt beyond SOL. It has to swing both ways. For me personally, it's a numbers game and the latest trend of court rulings heavily favors JDBs records.
    1 point
  3. Greene and Cooper since they dunned you. YES! I wouldn't settle with them. I would pay my own lawyer before Midland. Midland does NOT arbitrate. They bought the account for pennies on the dollar. If you respond to any suit with a Motion to compel arbitration they back down and stop the whole thing. In your DV letter state you are demanding arbitration to settle any dispute related to the account.
    1 point
  4. This isn't love/hate. I am going to have to quote a judge on this one with regards to "what everyone has been through." When the recession hit my brother and I had leased a house and were one of the first ones to get swept up in the whole owner not paying the mortgage and the house being foreclosed on. The bank was trying to evict us and this was prior to the law Obama passed protecting innocent tenants from immediate eviction. The day we went to court against the bank to simply buy us 90 days to save another deposit and find another house that wasn't in foreclosure the Judge made an a
    1 point