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Everything posted by BackFromTheDebt

  1. I would need more information to answer this. Is this a court case? If so, did you follow the proper procedures for discovery? If the answers to the first two questions are yes, there should be some deadlines for when they have to produce the documents. The letter you got means someone in their office is confused.
  2. The bad news, you already have a judgment against you. The good news, you can still settle. I was able to settle for a short sale once after a foreclosure judgment, and got exactly the same terms they had previously rejected. Weird how that goes. Even weirder, another bank refused to settle at all, and they really took a bath because of it. So, maybe they will settle, maybe not. As the saying goes, a bird in the hand is worth two in the bush. It can take years for them to collect through seizing bank accounts and garnishments, etc. They would rather have some cash on the barrel now, rather than later. You probably won't get as good a settlement as you would like, but if you are willing to pay everything in one lump sum, MOST of the time you can get a substantial discount. Other times they will just blow you off. Sometimes JDBs will shoot themselves in the foot rather than give a consumer the slightest break. IF they won't settle right away, look at making yourself judgment proof. Such as, move your money to places they are less likely to find it and seize it. There are perfectly legal ways to do this. If they can't find your money, it can put more pressure on them to settle.
  3. It appears you want to settle this case. In that case, whatever you do, do NOT drop the ball on the case while it is in court. I once lost a case and then got the award vacated by settling afterwards, but that doesn't happen as much as one might like. That means, you have to take a two-pronged attack. First, fight the case. I don't think Cap 1 has an arbitration clause anymore. Get a copy of their agreement to make sure. Then, answer the case a few days before the deadline. You need to keep this alive while you negotiate. A default judgment can take away some of your bargaining power. Second, contact the attorney about a settlement, See what he will agree to. They normally want one payment up front. In that case, see what you can come up with, and see if you can settle for what you can come up with. If settlement doesn't work, you will probably lose the case, and have a judgment and garnishments.
  4. Is BK worth it for $9k? For some people yes, for others, absolutely not. For many people, having their wages garnished until they pay off the $9k plus interest is worth it to avoid BK. For others, it is not. It doesn't matter if other people think BK for $9k is a bad idea. If you are broke, have no non-exempt assets, and a small enough income that garnishment will really hurt you, BK may well be worth it.
  5. For some, BK is horrible. For others, it is a godsend. If you are in the latter class, it is foolish NOT to file BK. Some people, including myself, have done some macho posturing about the butt kicking we've given to various creditors. The other side of the coin is, that took a tremendous amount of work, and a tremendous amount of stress. It was only worth it for me because I was in the group for whom BK would've been a worse option than fight and negotiate. Also, I did this at a time when the records were often much worse than they are today. Because of people like me who were able to clobber them on bad records, they started keeping much better records. The moral: when you are facing these situations, you are on your own and you need to do what is best for YOU. Trying to impress strangers on the internet is a waste of time. Those of us who have spent a lot of time on the other board can cite some very specific examples of people who were creamed trying to impress others, despite being warned they were treading on dangerous ground.
  6. I assume the NJ statutes are available online. In many states, the online statutes will include the names of cases pertaining to that statute. You can Google those cases.
  7. Google is the first place to look. Specifically, some here use Google Scholar.
  8. Cap 1 is a hard nut to crack these days. Chances are they have everything they need to win the case. You have three options: 1. Find a way to settle the case. 2. Find a way to make yourself judgment proof, as in get yourself into a situation where they cannot seize property or garnish wages. Easier said than done. 3. File for bankruptcy.
  9. Really. If this is ID theft, and you are fairly certain this is ID theft, it is NEVER too soon to file a police report. If there is more information that can be gotten from the attorney, that can be added to the police case at a later date. The police are not going to send out detectives on this case. They really aren't. About all they will do is take whatever information you give them, and to write it down and file it nicely. The local cops don't have the resources for this. If you get pertinent information at a later date that could be used to solve the case, talk to the cops again, and see what they say. At this point you are trying to protect yourself from law suits, one of which is ongoing, based on the ID theft. You need to do whatever it takes to protect yourself. If you don't, then the other side is free to assume you are not serious about any claims of ID theft.
  10. In most cases I would agree with you. In this case the OP may still have to consult a tax attorney or a CPA anyway. However, this was a case of BK, and the debts may have been discharged in BK. That is why the OP should talk to the same attorney who handled the BK.
  11. I wish there were a sticky on 1099-C so I wouldn't have to repeat this. Note that things are different dealing with BK. In that case, your friend needs to talk to a lawyer. Here is an example of how to deal with the 1099-C: Make a list of all your assets and liabilities at the time the 1099-C was sent. Compare the assets and liabilities BEFORE and AFTER the 1099-C ended the debt. By assets, I mean everything. I used assessed values of property and blue book value for the cars. By liabilities I mean everything. I included loans from relatives. Those are real debts, and must be included. If you are insolvent (assets < liabilities) AFTER the debt discharge, you owe no taxes. Fill out the proper forms for the IRS to show this. I included copies of my assets and liability lists. If you are solvent BEFORE the debt discharge, you owe taxes on everything discharged (BK may be an exception, talk to someone qualified for YOUR case). Suppose you were insolvent by $1000 BEFORE the discharge, and $2000 was discharged. Now you are solvent to the tune of $1000, all due to the discharge. You must pay taxes on that $1000. Again BK clouds the issue. IN that case, talk to the BK attorney who handled the BK in the first place.
  12. You said the 2008 agreement had an arbitration clause. What about the agreement that was in effect at the time of your default? You can get the current agreement from the CFPB web site. If that still has an arbitration clause, you can do arbitration. If it doesn't, then you have to figure out if they took it out before or after your defaulted. Arbitration generally does NOT make an OC go away. It SOMETIMES gives you a better negotiating position.
  13. In case you don't have the link to look at your case online:
  14. It appears your 60 day deadline is a few weeks away. So you have to make the deadline you give them to sign the documents and file with the court pretty fast, such as the end of next week. Check what they mail to you, and check on line (which you can do in Wisconsin). Give to the close of one business day (2 at the VERY most) past the deadline to file in JAMS. Which means you have to have everything prepared in JAMS so you can mail it off the next morning if they miss the deadline plus the day or two leeway you give for things to appear online.
  15. No. By now it is past the SOL. I am not sure if this is still on the credit report or not.
  16. My own personal experience, getting a home refi late last year -- We had a disputed item on my wife's credit report, between $600-$700, just before the SOL. There was no way in Hades they could possible collect the money. We offered to pay every penny for a PFD to get it off our credit report, and mentioned if they didn't agree they wouldn't get a penny. They didn't even bother to reply.
  17. Absolutely the fraud report. Hard to say about PRA not pursuing earlier. Did they fight this coming off your CRA? If not, leave it be. If so, it probably wouldn't hurt to include the letters.
  18. Some on this forum have pointed out that in SOME parts of Texas the courts make arbitration difficult. In other parts of Texas, apparently not. It's a big state. I have never lived in Texas, and I don't know enough about their court system. Prepare the MTC and see how it goes from there. It can't hurt and may be sufficient to win the case.
  19. Agreed. I've been around these boards about a decade, and I haven't heard of refiling a case after a dismissal w/o prejudice.
  20. OK, so basically you are being sued by Midland on an account they bought from Comenity Bank. Overstock really has nothing to do with this. They were merely decoration for the card as far as you are concerned. What you need to do is this: Go to the Consumer Financial Protection Bureau web site. On that site, they have the credit card agreements for the various large banks. Find the Comenity credit card agreements. You are especially looking for the agreement for the Overstock credit card. When you have found that agreement, see if there is an arbitration section. This is very important. I have never had a law suit with Comenity, so I don't know the answer. You have to find out for yourself. When you have found the arbitration section, see what it says. See if you have the right to arbitrate. See if there are restrictions on arbitration. See if that applies to you case or not. Then get back to us. IF they have an arbitration agreement as part of the credit card agreement, AND if there are no restrictions that prevent you from using the agreement for such a small amount, then you can probably win this completely. If not, then you will have to negotiate. I am VERY surprised that such a small amount is in District Court. I know Arkansas has small claims courts, so I thought they would take small amounts to small claims court. Many of the arbitration agreements have exclusions for small claims court. Some others may know if Comenity has an arbitration section. I don't.
  21. As far as Overstock goes, what kind of debt was this? Was it a credit card debt? If so, there is usually a bank that backs up the credit card, such as Synchronicity. That is extremely crucial information. We need to know if this was a credit card debt, or what kind of credit arrangement. AND we need to know which bank backed it up. This could make the difference between winning and losing this case.
  22. We need a LOT more information. There is a form around with all the information you should give us, Most important is: What is the approximate amount (ROUND this number. Exact numbers are personal information, and NEVER put personal information on this forum) Who was the original creditor? What kind of court is this? What you do for small claims is sometimes very different.
  23. If PP said you have to pay to restore power, then ask them who needs to be paid. As @mrb0x mentioned, you need to find out if PP still owns the debt, or if they sold it to a JDB. It they still own the debt, that makes it easier. The thing about the SOL -- once that is passed, they can't sue you anymore, but in California (and 47 other states) the debt still exists even after the SOL. In all 50 states, companies regularly deny accounts to people who owe them money.
  24. Address it to both of them, CMRRR. Let them figure it out. Keep good records. I once got burned because I sent some discovery documents, was too rushed to make a copy, and didn't send it CMRRR. I really got burned badly on that one.