gusto

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About gusto

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    Kansas
  1. This is a strange turn of events. I have an alleged outstanding debt with B of A, the account was closed in March 2009 and the statute of limitations on credit card debt in Kansas is 3-years. Back in July 2011 a collection agency by the name of CPC (Central Portfolio Control) was attempting to collect from me, I wrote a letter demanding validation and elected arbitration, if such a clause existed. I had not heard from them since. Now I received a letter from Cavalry, or LTD Financial Services, attempting to collect the same debt and offering a payment plan. What should I do at this point?
  2. 1st Step... I hear what your saying but it would seem like a waste of time and money for a debt collector to relentlessly pursue me for $24k when I don't have it. Garnishing my bank account would not do any good as I live paycheck to paycheck. Similarly, garnishing -- what is it? 15 or 25% -- of my paycheck would hurt, but it would be years before this amount is ever paid off in this manner. Don't collection agencies understand that people default because they are simply unable to pay?
  3. Thanks for all of the helpful replies. For those of you with experience in dealing with collection agencies, I was curious to know what to expect next. I mailed out my brief cease and desist / arbitration letter I posted here a few weeks ago to the collection agency and have not heard anything since. They have not attempted to contact me. So, what I want to know is generally what do collection agencies do next? Since I elected arbitration I know that they cannot pursue this through litigation... but how likely is it that a collection agency will pursue a debt through arbitration? I allegedly
  4. In response to your questions... 1) I plead the fifth on the first question. It is for about $24,000... some of this alleged debt is another persons (long story) but is in my name. 2) I would have to go through my records but I think the last payment was made in March 2009. 3) I do have child support payments garnished from my paychecks. 4) I owed on two other credit cards which have been documented in this forum, both cases have been dismissed. I also owe student loans but they are not in default. Do collection agencies usually relentlessly pursue debts of this size? And if so, is this the
  5. Here is the letter I will be mailing out tomorrow. It was suggested to keep it simple. Any suggestions? CPC (Central Portfolio Control) 6640 Shady Oak Road Suite 300 Eden Prairie, Minnisota 55344 RE: CPC File #XXXXX I dispute the alleged debt and demand/request validation. All calls at any time are inconvenient. Correspond via USPS only to the address listed above. If there is an underlying arbitration clause in the alleged contract, I elect arbitration. Sincerely, XXXX
  6. I have posted a sample DV request letter below for those of you with experience in this area to critique. Please let me know if this looks okay. "I am writing in regard to your request for an alleged debt collection. I am informed that you must validate the alleged debt. Please be advised that I am not requesting a verification that you have my mailing address, or any other contact information. I am however requesting that you please forward within the customary period to provide verification of all data regarding the establishment of this trade line including the applicable signed origination
  7. Thanks for the tips. I am going to start by researching FDCPA and go with your advice to send a DV request first. I just had a few more questions before I begin this daunting research... First, just to clarify, I have 30 days to dispute the debt and request validation -- is this 30 days from contact via phone or mail and is it personal contact, like my actual conversation with CPC, or is it contact with my coworker who spoke with CPC the day before???? Next, why is the threshold of validation "very low and very easy to reach" for collectors? And what exactly is a low threshold of validation?
  8. Yesterday a collection agency left a vague message on my brother's home phone. Then when I arrived at work today a coworker informed me that a guy from CPC (Central Portfolio Control) had called my job last night leaving their number and a message to call back asap. Minutes later, while in a meeting at work, I received another call from CPC on my work phone and spoke with a very rude representative by the name of Chris. He told me in a not-so-friendly-tone that I owe Bank of America $23,000 and that I needed to arrange for payment or they'd sue. I had to quickly rack my brain for a response an
  9. I filed a motion to compel arbitration about 3 weeks ago (March 28) and have not received any response so far. Is there a specific amount of time they have to respond to this type of motion?? Prior to my MTC we were approaching the end of discovery and Cap 1 had been sending almost immediate reponses to any motions or requests. Should I file a motion to dismiss?
  10. My MTC is titled "MOTION TO COMPEL PRIVATE CONTRACTUAL ARBITRATION AND STAY THE PROCEEDINGS" and I was wondering what a stay, if granted, would mean in this case? Is it basically putting the case on hold until arbitration is finished? From what I understand electing arbitration waives everyone's rights to proceed in court.
  11. I was wondering what formal motion I should use to respond to Cap One's responses to my request for admissions? It looks like they failed to provide some discovery docs that I requested and answered Deny without providing an explanation. Do I need to send a second request, motion for sanctions or objection, or send a 'good faith' letter to their attorney?
  12. Both Cap One and I have already sent discovery requests and responses. Cap One even provided a copy of the original signed agreement from 2001, credit statements from Nov 08 to Sept 09, a facsimile report from Sept 09 and copies of the agreement. I just received my discovery request from Cap One about a week ago. I expect that they will file a MSJ any day now. I do not know if there is anything I can do in the court right now that would help me out. The judge in this case will more than likely grant them a judgement based on what they provided, though I don't think they've provided enough do
  13. ConsumerAttorney.... You do make a good point. Are there any laws or case law that address the issue of which agreement is valid? Is the fact that no precise determination can be made as to which agreement is being sued upon and that the Plaintiff is making contractual discrepancies? Or is the substance of the two contracts what is the most important factor?
  14. "OCs are not bound by the FDCPA." This is what I thought just at a quick glance at FDCPA. I was wondering because I read that "The FDCPA itself contains numerous exceptions to the definition of a "debt collector," particularly after the October 13, 2006, passage of the Financial Services Regulatory Relief Act of 2006. Attorneys, originally explicitly excepted from the definition of a debt collector, have been included (to the extent that they otherwise meet the definition) since 1986." I defaulted in 2008 so it sounds like the 2006 agreement applies. So there are no other laws that govern cont
  15. Just had a quick question.... Cap One and I have exchanged our first discovery requests and repsonses. How long should I expect before a Pre Trial date is set or the Plaintiff files a MSJ??? I am preparing a Motion to Compel Arbitration and considering possibly submitting objections to the Plaintiff's discovery responses.