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NCO and 10K, What should I do?


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Hello all, thank you for this wonderful and informative forum. I have been visiting the site for a while and have already gotten some good information. However I believe my situation may be a little different than most because of the size of the debt NCO is trying to collect.

NCO is trying to collect on a debt $10,000 ($8700 + $1500 interest), the SOL in my state is 3 years and the debt is expiring in Nov of this year.

The last letter they have sent me says they will be referring my case to a law firm in my area if I don't respond in 30 days. My plan is to send the form letter DV from this site and a request to communicate only through the mail. I'm hoping that they drop my account, or that I can suck up so much of their time as to reach the SOL in my state before they take me to court.

What do you think, is this a good strategy? I have seen so many people have their debts expunged due to the DV, do you think they'll do this for me even though my debt is over 10K? I'm a little worried I may need a new strategy.

Thanks in advance for all the help and any advice you give.

Del

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You should most certainly send a DV but I personally would not use the "form" letter from the site. I would write something on your own using the form letter as a guideline and basically say that you dispute that you owe them the debt and you want them to provide you with validated evidence that you do per the FDCPA...that simple.

You should send the DV regardless of how large the debt is...don't let that intimidate you. Is this item currently being reported on your CR?

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Sorry, yes the SOL for my debt is four years, not three. However the last recorded activity was from November 2003, so I should be past the SOL in November of this year.

Thanks again for all the great responses. If you guys have any other advice on how to proceed please let me know... I do not have a house, or car and my income is around 12K... so I'm not too worried that they can hurt me with a judgment. But I would like to get this off my credit report so I can move on.

Thanks again

del

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However the last recorded activity was from November 2003, so I should be past the SOL in November of this year.

This is not necessarily the date of the breach, it may be earlier it may be later.

Assuming a CC, the breach occurs when you miss a payment and do not cure.

Now in FL, the SOLC will be 4 or 5 years, depending upon the evidence presented in court. Payment does not create a new SOLC departure on the 4 year COAs, but will on a 5 year.

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Assuming a CC, the breach occurs when you miss a payment and do not cure.

Now in FL, the SOLC will be 4 or 5 years, depending upon the evidence presented in court. Payment does not create a new SOLC departure on the 4 year COAs, but will on a 5 year.

So what do you think I should do?

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You must remember...

1. Do they the credit card co. have the original signed credit acceptance form/contract with you? Most prob. NOT!

2. Even if they were able to produce the original ( which they won't) signed agreement or contact, they (Credit card co.) still have the burden of proving that you signed the credit card appl. A copy of an instrument is not admissable if there is a belief by one of the parties that the instrument is a forgery and/or ommits or contains of some material fact or lack thereof, that would affect certain rights and obligations of parties, because of "hearsay evidence" which cannot be verified as true and correct.

3. Who is the competent fact witness that can aver under oath that you signed the credit card application? Were they with you in the kitchen, living room, bathroon etc., when you signed the CCA ?? NO! There must be a competent fact witness to substansiate any legal proceeding against you. And you also have the right to cross-examine the so-called witness against you in court under oath.

4. Who loaned what to whom?? Did the credit card company loan you credit, money etc.??? or did they create a taransaction account with you name and social security # and personal info. and use the credit card application to fund the trans. account. If they did, they just created sometime from nothing, claiming they loaned you money or cash equivalant, when in fact they loaned you NOTHING!! But you have to pay them back the principal + interest for the next how many years. This is called fraudulent concealment, illusory contract, fraud in the factum, not to mention violations of Generally Accepted Accounting Principals (GAAP) and Truth in lending provisions.

Therefore, don't be so quick to think that the credit card company is to be feard for what they can or may try to do. Even if they do file a suit against you, there is more than enough ammunition at your desposal to send them wimpering back to the underbelly of the slimmy little rock they crawed out from under.

FM

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