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Everything posted by BackFromTheDebt

  1. Step 1. Open the letter. Step 2. Read the letter. Step 3. Get back to us on what the letter says. Step 4. Figure out a strategy. The earlier you start dealing with a problem the better.
  2. You generally do NOT get a better deal if you wait until after being served unless there are special circumstances. For example, an arbitration agreement. Do a Google search on Consumer Financial Protection Board credit card agreements. They have ALL the agreements. Find the agreement that matches your card. Q1. Does this card agreement have an clause? If so, you may with to copy and paste the agreement in a reply to this thread. Q2. Can arbitration be used in whatever court this was filed in? We need to know the state and county, and what type of court this is Some arbitration agreements can’t be used in small claims. Others can. Or this court may or may not be a small claims court. If there is an arbitration agreement, and if the agreement can be used in your case, you can probably beat this.
  3. That is why they will probably run away from arbitration. The idea of getting a judgment against you is maybe sometime in the next decade or two you will have money, and then they can go after the judgment plus interest. It is not worth them spending thousands or even tens of thousands to chase after hundreds of dollars they may never see. You are aiming for a mutual walkway. At some point you will need to negotiate with them on the terms. That might be a good time to point out you are what is often called “judgment proof”, which really means they can’t collect on a judgment.
  4. I once talked to the leading consumer lawyer in my state. He learned about the arbitration strategy from people on CIC. That lawyer was skeptical at first, but now recommends the strategy for some of his clients.
  5. Fantastic! Here are your next assignments. 1. Search this site for arbitration in general. See how people have filed motions to compel (MTC) arbitration. Also search for Ohio and Crown Asset Management. When you are finished, you should know how to write a good MTC. 2. Read up (this should be on the internet) on the Rules for Civil Procedure for Ohio. In addition, check out your county's court site to see what particular rules they have. You may need to talk to a clerk for certain things. For example, in my state, in every county except one if a party is filing a motion of any kind, that party will (a) file a Notice of Motion, (b) file a Motion, and (c) schedule the motion hearing with the court clerk. I live in the one county in which partied do (a) and (b) but the judge's clerk schedules the hearing and notifies the parties. These are the kind of things we can't tell you. You have to ask at the courthouse. 3. File your MTC the proper way for your state and county. There are several things that can happen when you have filed the MTC, sometimes more than one of these. I have no idea which will happen. Luck of the draw. A. The plaintiff will walk away and agree to dismiss the case on the spot. That happens occasionally. Great if it happens, but don't count on it. B. The plaintiff will object to your arbitration. If you have the MTC written correctly, you can point to a Supreme Court case which establishes your right to arbitration. You will almost always get arbitration from the magistrate or judge or whatever. If not, appeal. NOTE: They may claim this arbitration agreement has a small claims exemption. It does not. The agreement says THEY cannot demand arbitration in small claims, but YOU CAN. Read that part carefully, and be prepared to argue that in court. C. The plaintiff will agree to arbitration, but won't pay their fees and won't follow you into arbitration. In that situation, you will need to file in arbitration. Don't pay the fees at first. Wait. Eventually the arbitrator will drop the case, and the case will be dismissed in court. I won a case this way. D. After you have filed in arbitration, (remember not to pay your fees at the beginning) you and the plaintiff will agree to a mutual walkaway before anyone has to pay the fees. I won a couple of cases this way. E. They will fight you in arbitration. It is highly unlikely that a debt buyer would spend thousands or even tens of thousands of dollars to chase this small a debt in arbitration. It almost certainly will not happen. Realize there is a very small chance this could happen, probably less than 1%, but it COULD happen.
  6. All credit card agreements are on file with the CFPB: 1. Find the appropriate agreement for your card. 2. Download it. If you use this in your court case, you will need to print out at least 3 copies. 3. Check the agreement to see if it has an arbitration section. 4. Get back to us on this. You may want to copy and paste the arbitration agreement (if any) into a post on this thread. You have some homework to do to fight your case. Your first assignment is above.
  7. You need to find out more about South Carolina procedures. Realize, you are NOT "requesting" arbitration. You are DEMANDING arbitration. You are moving the court to grant you your rights, guaranteed by the US Supreme Court, for arbitration. In some states, such as Florida, you would ONLY file the MTC. In Florida, if you file an answer along with the MTC, you are deemed to have waived your rights to arbitration. In MOST states, you are permitted to file certain motions INSTEAD of your answer. You could file a Motion to Dismiss, or a Motion to Compel arbitration INSTEAD of your answer. In MOST states, it is permissible to file both the answer AND the motion. You need to find out what the rules of civil procedure are in your state. If you are in a state which permits filing a dispostive (not sure about that word) motion instead of an answer, that is the way to go. If not, file the motion along with a general denial. Having the card agreement is a great first step. What you need to do now is look at the various threads on this forum about arbitration. These threads will tell you what you need to do to file your motion. If you want, you could post your REDACTED MTC on this thread to see if anyone has any comments. Or, you could find a post with someone else's MTC, making sure it references the ATT/Concepcion case, and copy that motion with a few changes. It may take you a few days to go through the threads, and to check what others have done, esp. with PRA and Synchronicity. It is a lot better to spend the time to learn the proper way to do things, and then do it. There is no need to re-invent the wheel. The wheel (the arbitration strategy) was invented by creditors who posted on this forum, and showed everyone else how to do things. I can't show you what I did, because my filings were many years ago and I don't have the motions I filed. Not only that, but things have changed a lot in the past decade. The motions people file now are much better written.
  8. I don't know much about the peculiarities, if any, of South Carolina law. But you are right about arbitration. In all 50 states you could file a Motion To Compel (arbitration). Synchronicity has an extremely favorable arbitration clause. Use it. Go to the internet and find the appropriate user agreement for your card. I think they are in the CFPB web site. You may have to do a little homework. Look around on this site. See how others have handled the situation. Then file. I hope you can join the multitudes who have beaten PRA on Synchronicity accounts this way.
  9. What is the point of continuing this argument? A completely new poster comes in, and starts giving very dangerous advice. This is someone who has never posted anything on this forum with useful advice. All I will say is this: Every case is a little different. What works for one person in a very particular situation may not work in other situations that are different. For example, I beat both AmEx and Discover in arbitration. Almost every post anyone will find will say you can't beat AmEx or Discover in arbitration. The thing is, I realize my situation in both cases was very unusual. Not long ago, I ran across a poster who had a similar (but not identical) situation to the one I had for Discover. So I gave that person advice tailored to that particular unusual situation (the account was past the Delaware SOL but NOT past the SOL in the poster's home state). That was fairly recent, and I have no idea how that case will turn out. The thing is, I don't ever expect that anyone whose situation is even slightly different from mine will have identical results. If AmEx hasn't done anything really horrible, they will win. They did something amazingly bad, illegal and stupid for my wife's account, so they lost. If Discover hasn't done anything stupid, and the account is within 3 years (the Delaware SOL), they will win. They waited almost 6 years for my account, and there were a number of possible violations and accounting errors. As for the situation the OP is in: If Citi keeps the account, our newbie's advice won't work. If Citi sells the account to one of the vast majority of JDBs that refuse to deal with a PFD (for example, PRA), the newbie's advice won't work. If Citi sells the account to one of the few JDBs that will do a PFD, and the OP somehow manages to get into exactly the same situation as the newbie, then the newbie's advice MIGHT work, Or it may not. In effect, the newbie did the equivalent of drawing to an inside straight flush to win a big pot. That doesn't happen very often. It happens occasionally, but generally isn't the best plan.
  10. Someone with two posts, but tons of misinformation. Alas, there are plenty of people in this world who will believe an armchair general who has never faced battle over seasoned veterans of the credit wars. The methods I learned mostly on this forum, and to a lesser extent on the “other” board, personally saved me over $100,000. The cases I know of in my state, including those who worked with a consumer attorney recommended by someone on this board, add up to over $1 million saved. Or, you can listen to some internet quack who tells you he has all the answers.
  11. What worked for you one time won’t necessarily work for everyone else. Citibank often sues. I was sued twice by Citibank, and both times the OC sued me. No JDB. My wife had a Vz account with a JDB. They did not have enough proof to sue successfully, so they never sued. She offered full payment for a PFD. They didn’t even reply. She never paid a penny, but she had to wait for it to eventually fall off her CRAs. The advice you are giving the OP is very dangerous. You say it worked for you once in one particular situation. In other situations it could blow up in the OP’s face.
  12. One of the tactics I once used: There was a time when the arbitration agreement changed for the better after I defaulted on a card. I sent a letter to the OC, who still owned the account, CMRRR, stating that I accepted all changes to the credit card agreement. That way I was able to use the current agreement rather than the agreement in effect at the time of default. Let’s just say that bank never collected a penny from me afterwards.
  13. Basically it says they will not require arbitration, but you can file a MTC. They should pay your fees if a MTC is granted The only question is whether you waived your rights to arbitration by involving yourself in the case. That is for the judge to decide. If you file an MTC, the judge will either grant it or not grant it. You miss 100% of the shots you don’t take.
  14. Maybe. What state? In jurisdictions you have already waived your rights to arbitration just by answering the complaint In others you can file an MTC on the day of the trial. Different judges will rule differently in the same jurisdiction. All you can do is file an MTC and see what happens. It can’t be any worse than not filing at all.
  15. It is more important to get out of court and into the arbitration forums they hate so much
  16. Well, better just before the deadline than just after. Go through the various Synchronicity agreements online. As soon as you see a card that seems familiar, make a copy of it and use it to file an MTC All the arbitration agreements for Synchronicity are the same. If they object to your agreement with the MTC, then they have to say which is the correct agreement. The correct agreement will have the same arb portion. I once had a law firm object to arbitration saying I had included the wrong agreement. I pointed out that the “correct” agreement they included had exactly the same arbitration agreement. The judge ruled for arbitration.
  17. There are things you can do if there has been identity theft. First, call your local police department. This is an extremely important step. Report this as identity theft and fraud. Make sure you file a police report, and get a copy of the report. This will make things easier for you later. Second, call your credit card company to get your account changed. You can’t use your card until the new one comes, but neither can they. Have your current card stopped. Now. Unless you have already done so. Third, contact the three major credit reporting agencies. Have holds placed on your account so that nobody can apply for credit without your written permission. This will make it harder for you to get credit, but a LOT harder for anyone else to use your info to get credit. The police or credit card company may have additional suggestions. This may be a minor annoyance or it could be a huge problem. If you take these steps you at least have some protection
  18. Did you say you paid by credit card? If so, call the CC company NOW and report it as fraud. NOW. Don't wait another minute.
  19. If you are careful and you do your homework you can win this case. Synchronicity has the best arbitration agreement of any bank. There are special ways to do this in Florida. Do NOT talk to their lawyers anymore Do NOT file an answer INSTEAD of an answer, file a Motion to Compel arbitration. There are threads on this board to teach you how. Make sure you file the MTC before the deadline for the answer. PRC has been beaten many times before with this strategy.
  20. You are in Florida, and Florida has its own special rules and laws. You must answer with either (a) a denial or (b) a Motion to Compel Arbitration. Your strategy depends on whether this card has an arbitration agreement, and whether you are dealing with the OC or a JDB We need more information. Who is the original creditor? Does Wal-Mart have its own credit cards or does some bank do the credit cards for them? Who currently owns the debt?
  21. This is something important. On this board, and perhaps even more so on the now defunct other board, people sometimes get obsessed with fighting the creditors. The goal is not necessarily to beat the creditors. The goal is to do the best you can for you and your family. For some people BK is a horrible option. For others it is a godsend. In my particular case BK was a horrible option and my troubles came at a time when fighting the creditors was the easiest it ever has been. Easier than 2019 as well. For others, BK is a fantastic option to get a fresh start.
  22. Effecting the credit score is the least of your worries. Has your son graduated yet? If you owe the school money, they may refuse to release his transcripts. If he hasn’t graduated, they may hold his diploma and / or refuse to let him enroll in the future. You may be in a situation where you will have to see if you can get a student loan from somewhere to cover the money you can’t pay now. Since your son has a job, he might not need the transcripts any time soon. So your other choice is to pay it off as fast as you can and let your son take the hit on his credit report. Getting a student loan would be a little more money in the long run but the damage to your son’s credit report would hurt a lot more.
  23. Agreed. This is not the outcome you wanted, but it has its advantages. You had two years to recover your finances. You are now in about the situation you would’ve been two years ago if you had made the same agreement with them then. Except you had two years to deal with your money issues. In any case, not having a judgment in court is a very big deal. I am currently working in the banking industry. Having an unsatisfied judgment on my record would destroy my career. At the time of my financial woes, I had no idea I would ever work in banking. Not to mention, I finally refinanced my house about 18 months ago An unsatisfied judgment would have been fatal. I had a satisfied foreclosure judgment on my record which delayed my refinance by several years The moral is, you never know when having a judgment on your record will be horrible.