nobk4me

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nobk4me last won the day on January 27

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About nobk4me

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  1. Yes, already seeing that. Under Ohio's stay at home order, collection agencies are considered essential business.
  2. By consumer protection laws, I did not just mean at the federal level. In Ohio, probably in response to the 2008 recession, the SOL was shortened for written contracts. The BK/judgment exemptions were raised to bring the state into the 21st century (from the 19th). And the Ohio Supreme Court put teeth into the borrowing statute. When everyone is feeling the pain, there is political will to relieve it.
  3. I wonder if this will benefit debtors. Maybe safety in numbers? More consumer protection laws?
  4. Something to remember: if things get hairy and you need bankruptcy protection, you can always file it then. It's not something that has to be done right now.
  5. I would not try to settle with creditors or file bankruptcy. The OP is disabled and living at the poverty level. She needs every dollar she can hold on to. I would keep the payout in a safe (from creditors) account, even if that means a non-FDIC insured account. And wait until the debts are out of statute before moving the funds. Your decision, of course. Others may choose differently, depending on their financial situation, comfort with risk, feeling a moral obligation to pay, etc. You didn't choose to become disabled, so I don't think anyone should judge you for whatever decision you make.. Another thing to consider: settling with creditors will have tax consequences. You will receive a Form 1099c for the remaining debt.
  6. Another thing: don't bank where you borrow. If you do move the funds to a FDIC-insured account, do not choose a bank where you owe any debts. Most banks have the right of offset, which means they can seize money from a savings or checking account to recover a debt you owe them. For example, if you owe Citibank for a credit card debt, and then open a checking account at Citibank, they can clean out the account. And they don't need a judgment to do this.
  7. If you move the insurance payout to a FDIC-insured account, it would certainly make it easier for creditors to find it. I don't know if this would affect the exempt status. Be aware that judgment creditors tend to levy first, ask questions later. It will be up to you to prove the funds were exempt, and that will take time and money.
  8. You should be able to do this yourself. I don't know the law in your state, but could using a paralegal be considered unauthorized practice of law?
  9. Study up on the arbitration strategy. Best way to beat a JDB, expecially when the OC is Synchrony. https://www.creditinfocenter.com/community/topic/329436-arbitration-overview-and-strategy-2018-most-up-to-date-info/
  10. First, it would help if you could answer the questions listed here: I would wait to be served and answer the summons in court. And use the time you have now to research strategies. If arbitration is available, that is the best way to beat a JDB.
  11. I doubt if they will try to sue you again. If they do, it's a case of rinse and repeat. Arb again. Usually the second time they dismiss, it is with prejudice (but check your state's rules on this).
  12. If they got a judgment, they can keep trying to collect on it, which includes wage garnishment and bank levies. As long as the judgment is valid, they have the right to do this. Lesson: don't let them get a judgment. Especially a default judgment, which means the defendant never even responded to the summons.