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About corkyhart

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  1. I'm still waiting for this account to be charged off. I heard from U.S. Bank again today (phone). I normally don't answer the phone without checking caller ID, but I was caught off guard. It's been 11 months since my last payment. The man who called me is from the recovery department of U.S. Bank. Does U.S. Bank have an in-house collection department? I thought OC's had to charge off after 6-7 months. I want to send the DV letter, but from what I understand, you can't DV the OC. Is that correct? And, are they in violation of a law for not doing a CO.
  2. Regarding where they are licensed to collect, the letter they sent me reads as follows: "My firm is not licensed to practice law in your jurisdiction and will not pursue any legal action in the state or federal courts. In the event that an arbitration award is ultimately obtained, local counsel admitted to the practice of law in your jurisdiction will be retained to pursue legal remedies based upon such an award." It goes to say: "We will assume the debt is valid unless you dispute (blah, blah, blah)... Then it goes on, and I don't get this part.... "Verification of the debt or a copy of a judgment against you will be mailed to you if you notify us in writing within thirty days of receipt of this letter of the debt or any portion of the debt if disputed." What is meant by "a judgment against you." Can anyone explain this? Corky
  3. I thought you had to show proof when "denied credit in the past 60 days" was used. Is that not the case, or do I actually have to apply for something and get denied? So sorry for my ignorance.
  4. Thank you for the quick answer. I live in Ohio so I will have to pay. I'm trying to figure out under which reason I would be able to get a free report each time I dispute. Would it be the one about "victim of fraud?"
  5. I am currently going through the debt validation process with several CA's. If I understand this process, it is necessary to check my credit reports. How do most of you do this without paying each time? Or, do you? It seems like it would cost a fortune.
  6. The balance is about $6000. What is the latest I dare wait to settle?
  7. I received a collection letter from Encore Receivables on 9-4-03 for my Bank One account. I was not able to send a DV within the 30 days, but I did send one and they received it on 10-16-03. I have heard nothing from Encore. In the meantime, I received a collection letter from Mann Bracken (attorney) dated 11-6-03 for the same account. I thought that once Encore received my DV letter, all collection efforts were to have ceased, to include turning over my account to a lawyer. Were any laws violated?
  8. Can they really issue a warrant for your arrest? I just thought if you didn't appear that the other side automatically won the judgment.
  9. I have an account that was recently turned over for collection. I received the standard letter of notification soon after. I was just getting ready to send a C&D/validation letter when they sent me an offer to settle at 75%. Since I have settled with others for much less, I am unwilling to settle at this rate this early in the game. Their letter indicated that if I want to settle, they must receive the money within 10 days. I decided it's time to send the validation letter, but in the meantime they called me today at work. She told me I only have until Monday, or they will prosecute (or whatever). I told her that I know they can give me more time. In the meantime, should I still send the letters. I have no way of paying the amount they want, and need to buy more time.
  10. I have several credit card accounts that have been written off. I have settled with some; others I cannot pay. If any of the CC companies obtain a judgment against me, I believe they can put a lien on my house, garnishee my wages, etc. Since our home is also owned (not paid off) by my husband, can they force us to sell our home? Legally, they cannot touch his half, correct?
  11. I understand the principle behind having to pay taxes on the difference between the settlement amount and the balance, but I don't understand why the difference isn't prorated. That is NOT money you necessarily received, using your credit card, that current year. You may have been running up the balance over several years. This just doesn't make sense to me. In other words, if my balance is $10,000 and the OC settles for $4,000, I am liable for tax on $6,000. In my case, I haven't actually charged anything on my credit cards since 2001; therefore, I didn't receive the benefit of the money this year, the year for which I have to pay taxes on it. Any comments?
  12. Please tell me about the process for a CA to file a judgment. Once they do, can you still settle? Do you always go to court? In general, I would like to know how the system works.