Jerry Ser

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About Jerry Ser

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  1. Thank you for your reply. I have been doing research but I keep asking for ideas. I just found out that in 2015 new rules went into effect in New York State about the debt collection process. The most important seems to me to be something similar to validation (or the same by other wording). It is called SUBSTATIATION. Here is a link from the NYS website about a sample letter that NYS advises debtors to sent out to collection companies. Please take a look; it may look like a DEBT VALIDATION to you but you tell me. https://www.dfs.ny.gov/consumer/debt_collection_letter_substantiation.docx. Perhaps this is what I will do pending other advice (I have few more weeks time to think about). thank you ps my first name they are using is not my legal name. Ie like someone named Robert or Theodore is Bobby or Teddy. I almost always use my legal name for business/official/ID purposes although in this case I probably did not. Any chances of mentioning this "discrepancy" in a beneficial way? thank you
  2. Thank you for replying. By judgement proof I only meant they cannot garnish wages. I can prove through bank statements that I am, and have been, below the exempt amount. Of course they can sue, or sue again at a later time. The CEASE LETTER is only to have a record that I am informing them that they cannot collect even if they win a judgment. If I do not send the CEASE letter what should I do? Wait for them to send me another letter? or contact them? and tell them what? You wrote "inform BoA that your income is exempt they MAY by company policy NOT law decide to drop it and close the efforts" That's what I meant by the CEASE (EXEMPT INCOME) letter. If you mean something else how should I inform BoA? The case now is with the lawyer. When I called BoA they told me the account is not with them and they mentioned TRAKAMERIKA and the lawyer's name (not sure if the lawyer represents TRAKAMERICA). So whom should I write to let them know I am income exempt and isn't that a CEASE (EXEMPT INCOME) LETTER? here is a sample https://www.neweconomynyc.org/wp-content/uploads/2014/10/Sample-Cease-Letter-Exempt-Income.pdf thank you
  3. Thanks for your reply. So, in answering back to the lawyer, in writing, I propose of sending then a CEASE LETTER (EXEMPT INCOME). I read about this at the New Economy Project where they provide instructions on credit debt issues. I don't think is a good idea to mention right now that I am willing to settle for 10%. What do you think? After I send them the CEASE letter they may propose a settlement and then I will answer. If they sue I will put down as an answer with the court clerk PROTECTED INCOME and GENERAL DENIAL as to the specific amount they claim. . In New York, bank accounts are protected with less than 3,600 if from wages and weekly income after taxes $450. I am below in both categories so I must be judgement proof. I Any comments will be appreciated.
  4. Not sure where to post this. I received a letter from Rubin and Rothman New York ( I live in New York City/Queens) about a old Bank of American credit card debt. It reads that the "creditor has a claim against you in the above amount" (10,600). Bank of AMerican is stated as Current creditor and as an Original creditor. The letter says that "unless you dispute the validity of the debt, or portion thereof, within thirty days, we will assume the debt to be valid. If you notify us in writing withing 30 days ...we will obtain verification of a debt and or a copy of a judgment against you and mail it..." What do I do and how to I respond? I have no big assets or property and all my bank money are exempt (judgement proof). I make $250-300 a week after taxes from wages and I have about 2,000 in the bank. No property except a 25 year old car (market value $2,000) and $4,000 life insurance . What should I write back. Bank of america told me that the account is no longer with them and is withe the above mention law firm. TRAKAMERICA was mentioned too. Perhaps the lawfirm works for TRAKAMERIKA. Last time a made a payment to the bank of america was less than three years ago. Bottom line is I have no money to pay (unless they accept less than 10% of the original).
  5. Not sure where to post this. I received a letter from Rubin and Rothman New York ( I live in New York City/Queens) about a old Bank of American credit card debt. It reads that the "creditor has a claim against you in the above amount" (10,600). Bank of AMerican is stated as Current creditor and as an Original creditor. The letter says that "unless you dispute the validity of the debt, or portion thereof, within thirty days, we will assume the debt to be valid. If you notify us in writing withing 30 days ...we will obtain verification of a debt and or a copy of a judgment against you and mail it..." What do I do and how to I respond? I have no big assets or property and all my bank money are exempt (judgement proof). I make $250-300 a week after taxes from wages and I have about 2,000 in the bank. No property except a 25 year old car (market value 2,000). What should I write back. Bank of america told me that the account is no longer with them and is withe the above mention law firm. TRAKAMERICA was mentioned too. Perhaps the lawfirm works for TRAKAMERIKA. Last time a made a payment to the bank of america was less than three years ago. Bottom line is I have no money to pay (unless they accept less than 5% of the original). THANK YOU Jerry