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glasshalffull

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  1. Hi, I have a 2 part question regarding CA suits/judgments and the fear of what they can or cannot do. Years ago I had an online ebay business and got an EIN number, paid taxes, etc. and did everything by the book/above the table. It plummeted along with my life over a year ago. When things were falling apart last year, a friend of the family offered that I sell items for him from a business he owned that he closed down (he has a different business doing very well and didn't have time to deal with this inventory). BEFORE DEDUCTIONS I only make about $200/month from this and after mileage and expense deductions I can take, it is about $75. What I am afraid of is the funds go into my Paypal account, transfer to business checking and then I write him a check. It all happens quickly, once per month, and 99% of the time my checking account shows only a couple of dollars. I get about 20% commission but the Paypal account gets close to $2000 before I transfer it...but this is his income, his inventory, not mine! Due to overwhelming fear, I am going to at least bypass using the business checking and just transfer once a month his revenue from my paypal acct to his. My first question is: Are Paypal accounts frozen in judgments? If so, could I prove the income isn't mine...only the little profit I get? It is his money and I am too ashamed to share my predicament with him but don't want to do anything to jeopardize his money. I have this nightmare vision of my Paypal account being frozen, zeroed out and the creditors getting his money for my judgment! Second, my husband and I have changed our lives after this...buying an old travel trailer, living simple and trying to move forward. We make just enough income to survive (believe me, if I had success in business I would settle to get this behind me!) in various ways. One way is selling used books on Amazon. Some of these were ours that we took with us, some we sell for friends and family and they let us keep 20%, some we find at yard sales, etc. But with Amazon this money, again...even if it isn't all ours, transfers into a checking account. Because we are dealing with used items whose value new was above what we get for it used, we didn't go the IRS route...though unemployed, this Amazon transferring will show in our checking account. So my second question is: how do judgments impact online sales like this? I have always kept good/easy records for the other business but this one is too weird. I could say all of these books were from my own collection, etc. Just tired of being afraid, want to be honest but don't know what to do. Thanks
  2. I apologize but I am still confused about the law regarding being served a notice that a CA intends to sue... One reply said to check with our county courts because someone could have already filed. I had read other stories where people state their checking accounts were frozen out of the blue, etc. Don't we legally deserve the right to notification? When I first posted, one of my biggest concerns was that we AREN'T getting threatening letters with the exception of one...and that scared us because we know 6 of our 8 cards are in CA hands. Our mailing address has always remained the same but our phone has been disconnected since we left our home months ago, currently in short sale status. Someone stated the PO Box might be an issue but in the state/area we reside in, no one gets mail delivered to their door...everyone is given a free PO Box because there is no mail delivery in the mountains...it isn't a choice and, again, that address has never changed. If I knew that every potential threat HAD to come through our mailbox first, I could sleep easier and handle things as they came...but the thought of lawsuits taking place without my knowing is terrifying. I had thought about trying to contact current CAs to submit request that everything be done in writing, verifying our mailing address...but it seems many suggest to not contact them? So how can I verify that a suit isn't taking place if they don't contact me and I can't contact them? Sorry for the confusion but in our case, we cannot file BK 7 until November of this year - we need to keep on top of what is going on and try to stall until we can reach the life preserver but I'm just constantly afraid the sharks will get us first.
  3. Greetings Again - After reading replies to my other BK post, I was able to determine that we can file BK 7 again in November of this year...my mental calendar was off a bit...nothing new these days. Just don't know how long we can hang on until then...or the CAs will wait without dragging us through court. Some forum replies have suggested trying to buy time via DV requests, arbitration, etc...but it seems in some cases that triggers a lawsuit or draws attention to us? My question is: Can the BK 7 "process" start while waiting for the 8 year filing date to come in 10 months, in order to file again? If so, would it do any good or does a BK atty have to wait until those 8 years passed before even letting us in his/her office to talk? Just trying to figure out the safest way to stall until we can make it to the 8 year requirement this fall. Thanks in advance!
  4. Thanks again to everyone...for all of your input... I had the same question regarding BK...should I just hold out a year? Does it help at all to OCs or CAs to tell them you are GOING to file BK or does that push them to sue quicker? We still have to look up our credit report because it is so confusing... Chase (we have 3 accounts with them), when we first received these cards, was Providian, then Washington Mutual, then Chase. When we went delinquent, Hilco Receivables had them who had Pentagroup trying to collect. Then Hilco pulled from Pentagroup on mine and gave it to the CA atty. So it seems a lot of paperwork has flown here and there. We obviously have more learning/reading to do but one CA atty wants reply by mid-February...so I feel we have to try and figure this all out asap? I've heard reference to arbitration along with the validation request. Would love to figure out how to stall all of this until BK was a possibility. Again, does threatening BK help or hurt with OCs and CAs? They probably know I can't file, correct?
  5. This was initially a Providian card, then WaMu, then Chase...once delinquent, it went to Hilco Receivables who had Pentagroup "working us" - then Hilco pulled it from Pentagroup and recently gave it to the CA atty. We still have more learning/reading to do on the arbitration issue we hear mention of...we're trying to get all the reading in but it takes time, for sure! Would this arbitration take place when sending the DV request?...or is it a separate entity? Thanks!
  6. Hi Forum- Seven years ago I would never have believed I would ever have to ask this question but, unfortunately, that is where I am at. Being naive after an unexpected surgery and hospitalization which put me into a financial panic seven years ago (I had private health insurance but it was awful and my medical bills were enormous)...I declared Chapter 7, putting it all behind me. Now losing my home, zero assets, unemployed and a long list of creditors that haven't been paid in 12 months that are threatening to sue, this would be the time for Chapter 7 when seven years ago I probably could have negotiated with all of the medical departments. Please clarify for me what the 8 year between BKs rule means by definition. Is it from time of filing to today's date or when it was discharged? Would having a previous BK decrease the chance of filing a new BK, if I meet all of their requirements otherwise? Thanks!
  7. Thanks for your replies... I understand what you are saying and nothing ever surprises me much anymore...and I know there are no consistent expectations to have... But for the past year I continually would hear/read the same messages, at least where someone with no current income/no assets was concerned: CAs prefer settlements vs. BK or court Court is costly and time-consuming CAs handle tons of accounts...can't possibly sue everyone CAs want you to feel like they are giving your case special attention, but they are overwhelme d CAs can certainly see on my report that we are losing our home and haven't paid, have delinquent accounts, etc., no assets. I always knew the threat was there but just never heard of "suing 'em all to see what will stick."
  8. Thanks willingtocope - Could you clarify for us, please: We still have the same mailing address that the credit cards had...wouldn't we have something in writing from them prior to being sued? Because our area never had mail delivery service (too rural) our mailing address was always a PO Box, which is still the same PO Box where we currently get our mail. If our case is this dire, should we still be following all of the great advice here like validation letters, credit bureau letters, etc.?...or is there a hopeless point where you don't do anything and let the tidal wave hit? Thanks!
  9. I just recently spoke with a law firm collection agency (I did validate they are part of our state bar) that just received my delinquent card account (around $4000). The OC was Chase, then after 6 months it went to Pentagroup via Hilco for 6 months, then Hilco pulled it from Pentagroup and gave it to this new CA that is a law firm. They just contacted me with a letter giving me 30 days to reply. Though currently I have no assets and no income (my newbie post with history, posted today, is in the collection agency section) she politely stated they ALWAYS prefer to sue and get a judgement because it is likely that in 10 years I'll be worth something. Of course she offered settlements I cannot afford at this time. Though I know no one is truly judgement proof, I was surprised by her comments which are contradictory to most everything I have read. I am in my 40s, lost my home, truly have no assets and live in a rural, mountainous and nearly jobless area. Was this just manipulation attempt or is this mode of thought becoming the norm...sue and get what you can get. Thanks!
  10. We appreciate your replies so much... I did neglect to say that though I've been "responsible" most of my years (I'm in my 40s), bankruptcy is not an option. I had unexpected, emergency surgery 7 years ago...with complications...and was hospitalized. Though I did have private health insurance at $300/month, it didn't cover much and I had to declare bankruptcy 7 years ago from the overwhelming medical bills (was to naive back then to know the hospital probably would have worked with me...I panicked)...so cannot declare again. I thought that was my low point... Nascar, I know they can't take the simple life and all of this beauty from me...but I think we just aren't informed enough yet on what they can do to us...they play the fear card and it works (coupled with guilt for making the mistake of buying the house which resulted in all of this mess). Thanks to this forum, maybe we will learn the reality of what they can do...and we can just keep looking at the mountains to remind us what is truly important in life... Thanks again...
  11. Hi…My husband and I are new here… Thank you so much for this wonderful site…we’ve been glued to it for days and cannot believe how much valuable, heartfelt information is being shared…without a price tag. We’ve tried to absorb as much as we could and looked at all of the resources for sample letters, etc…but we still remain confused on some items we’ve read, unsure of how to proceed in our particular case. It seems a little background on our case, to help explain, is in order… One of the first threads we read stated no one is “unique” but we feel we might be a small exception to that rule in how we responded to our life falling apart (hence the “glasshalffull” username). Though painful and terrifying, we decided to take all of this hurt and go in search of the simple life…let it all go and just “be.” Liquidating our assets (extremely minimal…nothing of real value…just a lot of garage sales) and getting a 20 year-old travel trailer…moving around, staying on friend’s land, going up into the mountains…making a little income on odd and end things, performing music…but having very little to pay for anymore (aside from the creditors, of course). We resided in a very rural, isolated mountain town and love the area…the beauty definitely keeps you sane no matter how many creditors are after you. We never wanted to buy a home but caved into peer pressure with the hope the equity would get us a small, affordable cabin in a short time (back when the market was good). We foolishly bit off more than we could chew, job availability plummeted, my husband was driving 110 miles a day to work…we were hanging on by a thread. We denied we had problems and just kept paying bills and buying groceries with our credit cards - we should have acted long before that, but didn’t. We kept thinking things would get better but eventually the credit cards dried up and we just sank. It is our fault that we made a bad decision but we were truly isolated and stuck where we were…homes stopped selling and we couldn’t get away. The short sale (still in process) was the easiest, to be honest, because we had only been there four years…even if it ends in foreclosure, it was the least painful experience. What is so hard to live with are the collection agencies and the constant fear of the unexpected regarding credit cards. Together, my husband and I have eight credit cards in total with Chase, Juniper, Capital One and Merrick, with cards averaging $3,000-4,000 (though with fees, etc. I can’t imagine what it is anymore). Some of the initial settlements were so tempting but we never had the lump sum. We mainly were in survival mode trying to plan how to live after we walked away from the house. So 6 of the 8 cards haven’t been paid on in almost one year (the other 2 are three months late). They’ve all gone on to collection agencies, etc. and I’ve kept record of who has what, where they go, keeping in contact with agencies (not divulging much, just keeping record of who has what, etc.). So here are the collection agency questions for this thread: Our mailing address has remained the same, having our mail forwarded to us twice a month, but our phone is disconnected because we don’t live in the house anymore…because we are moving around can we still expect to receive written letters from creditors…we aren’t getting many anymore? To date, only one collection agency has written us though we know via calls to the OC’s that many different collection agencies have our accounts…two are supposed law firm/collection agencies. Why haven’t we heard from them? Can court take place without our knowledge (again, our mailing address has never changed but we have no phone)? In sum, the silence makes us crazier than getting the letters…weird, I know. We feel we should be finding these collection agencies to find out what they are up to due to no written correspondence but from this forum it seems that isn’t wise, correct? We’re just afraid things are happening without our knowledge, given we have no physical address anymore. We have zero assets, no job, 12 months non-payment of mortgage or other creditors, yet received a letter January 15th from Smith Law Firm on behalf of Chase (we checked they are part of the Montana Bar Association) threatening legal action. Before this forum I called them but didn’t divulge much, just reaffirmed our current status of no assets, no income. They said we have 30 days to reply to their letter…is it time for a validation request? If it is time to submit a validation request, the flowchart on this site showed challenging credit bureaus first…we looked at the sample letters but how can we actually deny being late on these debts when we know we are?…and don’t we have to reply to the law firm in 30 days? Are settlements ever low and spread out? If each card at different times settled for 25% and divided it by 6-9 months, we quite possibly COULD settle with one at a time…but we have 8 out there to manage and the big picture seems too big to handle…so we bury our heads and stay afraid all of the time. Thanks so much in advance...Newbies In Need
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