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Everything posted by BackFromTheDebt

  1. OK, the last time I did a pre-emptive arbitration, the opposing attorney said they would file suit if I didn't file in JAMS within 30 days. Under that sort of situation, why is that strategy worse than waiting to be sued and then filing an MTC? In fact, since the home SOL for Discover had passed, but it was a few months before SOL in my state, and their contract says the laws of their state apply in arbitration, that gave me a LOT of negotiating power.
  2. This tactic is preemptive arbitration, and was originated many years ago by a fellow in Florida, I forget his name, because it is so easy to waive one's arbitration rights in Florida. I used preemptive arbitration three times. Two times were in a situation in which I had elected arbitration, and the other side said either I file by such-and-such a date, or else they would file suit. In some situations, using the threat to sue as a possible violation can work as a bargaining chip. (I would NOT file and FDCPA lawsuit over that, but most creditors don't want to deal with the issue in arbitration). The third time I caught them off guard, and they sued anyway. Not a good idea on their part. That IS a real violation. There are two advantages to preemptive arbitration: 1. It keeps things out of courts. Court records are public, arbitration records are private. 2. If it never goes before a judge or magistrate, there is no danger of your MTC not being approved. 3. Occasionally, it can get the other side off guard. I had that happen many years ago, so don't count on that happening. The lawyers are more knowledgeable now. I am not saying preemptive arbitration is for everyone, nor am I saying it is always the best tactic. I am saying it is a weapon in one's arsenel
  3. You need to look for the form which we ask new posters to fill out. I don't have the link for it, but I do have the link for someone who filled it out correctly. Either find the form, or modify the form this guy filled out with the answer which are correct for your situation. Otherwise, we don't have enough information to guide you in helping yourself.
  4. Hopefully our Cali guys will chime in, but here is what you need to do to win this one. Synchronicity has a great (for you) arbitration agreement. You need to file a MTC and get this out of court and into arbitration. Very unlikely Calvary will follow. 1. Get the proper agreement from the CFPB web site. 2. Read up on arbitration on this forum. 3. Read up on how others in California handled this sort of situation, on this forum. That's your homework assignment. That will give you the information you need to win.
  5. There are some folks on this forum from California. Hopefully one or more of them will chime in soon. In the meantime, there are two things that you need to look at. 1. Does US Bank have an arbitration agreement you can use in this court? If so, look up on this forum how to file a MTC for arbitration. If you can take this out of court and into arbitration, then PRA will almost certainly run away, 2. It does appear there is something hinkey with the statements, They produced a statement, and you have a statement with a later date, and a lower amount. It looks like they are trying to get more money then they are entitled to. This could be the root of all kinds of FDCPA and FCRA violations. Especially if you can come up with records from your bank that show you made payments past that date. I have no idea how a judge would react to that. Some would just award them the lower amount. If you play it right, perhaps you show that this is the latest you have, but there may be others, you can completely destroy their arguments. I had a case in arbitration where the other side agreed to a mutual walkaway when I showed they had later statements that contradicted the statements they had. So, counterclaims for FDCPA and FCRA violations would appear to be in order. At this point, even without arbitration, you could have some good negotiating power. You don't know what will happen, but then neither do they. It depends on how you play this. Make sure you have notarized that these later statements are correct statements.
  6. Join a credit union, and get their credit card. That is how my son got his first ( and so far only) credit card. In SOME cases they may want you to secure the card. OK, secure the card. In not too long, you will have some credit line on your credit report. Take out a secured loan on your own car. All of these can build up credit. A German friend of mine had a bit of hassle. Credit cards are not as popular in Europe, and they were even less popular when he lived in Europe before moving to the US in 2000. He found that after a few years of renting an apartment his work helped him find, and not having a credit card, he was considered to be a bad credit risk. Eventually he got some credit, and eventually bought his own place.
  7. A lot of arbitration agreements do NOT say how to elect arbitration. I realize this is not like the old days, when it was rare to have anything about how to elect arbitration, but not all of them have this in the arb agreement.
  8. Very true. Something like this is a case where winning an FDCPA claim would be at best difficult. In my personal experience, having some claims can be very good for bargaining for a mutual walkaway. The claims I have had ranged from absolutely rock solid to rather flimsy. Unless one is dealing with one of those creditors who are are notorious for going full blast to the very end, even a flimsy claim can be a good bargaining chip, and sometimes even dealing with those creditors. I have personally beaten the two most notorious OCs in arbitration -- the ones that go full blast to the bitter end. In one case I had very rock solid claims, so I left home with a mutual walkaway with the credit card company, plus some money from their law firm. In the other case, I had a mix of a lot of flimsy claims and one potentially lethal SOL defense, as in their claim was past the SOL in the state where they were, but not past the SOL in my state, and the question as to which state's laws should be recognized had never been decided by the arbitrator. I think the cumulative effect of lots of claims, from flimsy to moderately serious, helped me to get a mutual walkaway. These were the type of claims I might not have been able to win in court, but they put negotiating pressure on in arbitration. Of course, YMMV. Every case is very different. The OP won his battle to get the case into arbitration, and now has a weapon of unknown potential to fight with. My suggestion is not to get greedy. File the case, show your hand and ask for a mutual walkaway.
  9. Well, this may be considered misrepresenting the legal status of a debt. It might possibly fall under the bona fide error exclusion. This may be a good bargaining chip for you if they are considering following the case into arbitration. Offering a mutual walkaway when there is a violation on their part gives you a stronger hand.
  10. 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.
  11. 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.
  12. 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.
  13. 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.
  14. 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.
  15. 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.
  16. Google is the first place to look. Specifically, some here use Google Scholar.
  17. 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.
  18. 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.
  19. 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.
  20. 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.
  21. 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.
  22. In case you don't have the link to look at your case online: https://wcca.wicourts.gov/
  23. 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.
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