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came home from court ordered mediation with JUDGMENT???


kbean
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Okay, you may remember this situation... My fiance had two credit cards that went delinquent in 98/99... (college days) They were BOTH purchased by Asset Acceptance in 2002. He received a default judgment for one of the debts which he had previously settled, but failed to answer the judgment.

He IMMEDIATELY receives a 2nd summons, to which he does answer. Only this time Asset isn't taking a settlement of less than 75%, and a payment plan won't stop legal action (they say.)

So then fiance goes to court ordered mediation on Friday. He comes home with a judgment. He says they tell him, "you already have a judgment, regardless of what you do." So he brings home this "judgment" that says he can pay 2,000 to satisfy the judgment. The original debt was 2,700 plus all those fees...

He also says that the AA lawyer was super nice and told him that if he could come up with a lump sum of 1500 that would also satisfy it (if he calls the lawyer)... of course this is not in writing.

Is he gullible? He listened to AA when they told him that he didn't have to answer his summons since he settled the account...

Essentially, he doesn't understand the negative impact of having a judgment, paid or unpaid, on your credit report for however many years...

so frustrating.

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what is frustrating is this: You can learn a lot on this site, and there is a lot you can do yourself. But sometimes you need a professional to help you when you don't understand or feel comfortable. He should have hired a lawyer. They speak the language, for one thing. Sometimes they can't improve a situation but they can stop it from being worse. Penny-wise, pound foolish

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No that cannot be the case! In order for Asset Acceptance or any other debt buyer for that matter to successfully validate, they usually must produce a representative of the OC (the holder in due course) in court to attest to the fact you are the debtor and you owe the debt. The Discovery they sent you is exactly what they purchased when they scooped up your debt for two cents on the dollar.

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I'd say that's pretty convincing evidence. A signed contract helps establish the creation of the debt and statements reinforce and help tally up the amount.

Kind of odd a debt buyer has this in their possession. Usually they have nothing for proper validation.

Sorry :(

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