Tesla2016

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About Tesla2016

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  1. I'm no expert, but I've read many times on this forum that you should contact a consumer rights attorney in your area, preferably one that is a member of NACA (http://www.consumeradvocates.org/) Hopefully, one the experts on this forum will come along soon and give you a better answer. Good luck!
  2. I was reading old threads regarding settlement, and came across this intriguing post by 'Seadragon' Seadragon wrote: "So If you fight in court and they get a judgment then that judgment has prefference and no one else can collect on a judgment until the first one is done. Summing up Bk they all get a small piece of pie for 5 years. Litigation the would all have to stand in a LONG line and wait due to judgment preference." Is it true that no one else can collect on a judgment until the first one is done (i.e., paid-off)? Is there such a thing as "judgment preference"? I googled the term, but came up empty. Could it be that this exists only in some states?
  3. Thanks Clydesmom. I finally took the time to look it up, and it seems that the debt amount canceled is considered ordinary income. So it would not be taxed any higher than ordinary wages. I'm thinking that if someone needs to file BK is because they're not making enough money, so they're probably in a lower tax bracket, and therefore don't have to pay a lot i taxes. So why is everyone so averse to receiving a 1099-C? What am I missing? By the way, Could you point me to a sample settlement agreement? Thanks!
  4. I'm curious . . . If a creditor sues, wins and obtains a judgement against a debtor for X amount, then the creditor agrees to accept a smaller amount from debtor (say, 60% of judgement amount) as settlement of the debt. Is the difference (40%) treated as taxable "income" by the IRS?
  5. Safe!!! The direct deposit came into my account, and I was able to withdraw it. No garnishment order on the court's website yet. Whew! Thank you all for taking the time to share your knowledge and helpful information. Now I'm wondering about something else... If the creditor does get a garnishment/levy order on my bank account and then I receive a check and go to cash it at my bank, Will the bank "confiscate" the check? Or simply decline to cash it and return it to me?
  6. Thanks, Clydesman, for your input. Yes, I've read about not keeping money in he bank account. However, I'm expecting a couple of hundred $$ that will be direct deposited in the next few days. Unfortunately, It's not possible to redirect the money now, so it will be coming into my bank account. This is why I need to know the answers to the questions in my original post. I'm hoping that someone who knows the procedures for Oklahoma will chime in. Thanks again
  7. Hello, everyone. I'm new here. For the past couple of days, I've been searching Google and this forum, but still can't find the answer to my questions. Please forgive me if they're somewhere I haven't discovered yet. I live in Oklahoma, and Capital One hired Love, Beal & Nixon (Oklahoma City) to sue me over an unpaid credit card debt. They have obtained a Summary Judgement and now have sent me a letter requesting that I call them to make settlement arrangements before they enforce the judgement. Unfortunately, I'm in a pretty bad financial situation, so I don't have any money to spare for payments (can barely pay rent and buy food). I assume that enforcing the judgement means garnishing wages and attaching/freezing my bank account. Since I'm not working, that leaves the bank account. My questions are: Do they need to obtain a separate court order to freeze my bank account? If yes, Do they have to go through the same court/judge, or they get such order from somewhere else? I'm asking because, if they need to get a separate order, I'd like to keep an eye on the Oklahoma courts website (OSCN), so I would get advance warning that a bank account levy is coming. Thank you in advance for any info.