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Another newbie question about DV and SOL


Wan2Live
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Hello,

This is for a Car Loan from 2000 with the horrible Americredit Financial.

I paid on the vehicle for about 5 years and in that time I had to request deferments on my loan which I thought would extend the length of my loan and that is what was also told to me by the reps. I went through a repo with them and did recover the vehicle the next day and this was after I had made a payment that they agreed to and the next day they picked it up.

Anyway to make a long story short they called the loan in November of 2006 while I was making payments with no lates, the balance they say was owed is around 5K I said screw it and was ready for them to just take it because they wanted a balloon payment basically.

Well that was November of 2005 and they never came for the vehicle or threatened they wrote it off on my CR's

I bought a house in December and I bought a new vehicle last march and have suffered high rates due to Americredit and now it is May of 2009 and I get a letter from a (Lawyer) here in GA telling me I owe 6,632.34 plus interest of 3,285.25

I want to see where I should start with this so called firm, I checked their website and they are attorneys that specialize in creditor recovery, I have read on the site that I should treat them as a CA and I have read through the statutes and and codes provided here Thanks! for the wealth of information.

So do I start with a DV with them? I really do not have any records of my own because I changed banks a few times over the years and most payments were done using online banking.

Also can I use SOL from the very first delinquency on the account prior to the Repo or does it start over after I recovered the vehicle, GA has a 6 year SOL on a contract and if I go back to the very first it will be past the SOL.

Thank You for reading and helping if you can.

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The proper response to the initial contact from any CA (and and attorney collecting a debt is just a CA with a law degree and usually an attorney that couldn't get real work) is to dispute the debt and demand validation.

Did you receive the notices and follow-up paperwork after the vehicle was repossessed? If not or if you aren't sure, read up on what your state requires when a vehicle is repossessed...you should have been notified on what it would take to recover the vehicle, what it was sold for, all the charges (notice of deficiency) etc. If they lender screwed-up during the repossession or in the disposition of the vehicle it may get you a legitimate reason to avoid the debt (or at least give you bargaining leverage).

As to the SOL, I believe it correct to say that it would not start ticking until the date you made your last payment on the account so this may well be within SOL...generally making payments keeps re-starting the SOL clock.

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Thank you for the response.

Actually the Vehicle was repossessed in 2005 and the following day I went and paid the fee's to get it back. In November of 2005 they called the loan and said that x amount was due or the account would be charged off etc. I told them to come and get the vehicle because I did not have 5 thousand dollars to give them. It is now 4 years later and I still have the vehicle and no attempts to get the vehicle have been made, I have not moved out of state nor have I hidden the vehicle.

I will do what is suggested and I am in the process of filling out the DV and will send it off certified tomorrow. I cant wait to see how they have compounded all this interest and my CR shows my balance lower by about 1 thousand than what they are reporting.

Thanks again!

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I misunderstood...I didn't realize you still had the vehicle in your possession.

I would seriously consider consulting with an attorney in your area to be certain of what your rights and responsibilities are...whatever you do I would suggest that you need to get this issue settled one way or the other because eventually, you are going to want to get rid of this vehicle and having this unsettled debt attached to it could certainly complicate things.

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Yes I plan on contacting an attorney tomorrow since today is a holiday. I'll be sending the DV certified tomorrow and see what they come back with. I know that about 2 years ago there was another CA from Florida that contacted me one time and I never heard from them again so I don't really know what that means, maybe they did not have enough paper work on the loan.

I have been reading a lot about Ameri Credit on the web and just like myself there are hundreds of people out there with a similar situation.

I told them to take the vehicle in November of 2005 and they never did so i guess I cannot force them to do that and I suppose a repo would have netted them less than coming after me for this large amount.

Thanks again! I'll post the DV results and let you know which road I have to take.

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I sent the CFL today now the wait begins.

I do have a question about my CR though. I went back to copies of my report from 2005 and the amount owed was XXX and now it shows that the loan is XXX and higher than it was when it was charged off in 2005.

Can the account balance be increased like this?

This is what my EQ shows

The Date opened is correct:

Date Opened: 2000/10 Balance: $X,XXX

Is this re aging of my account?

Date Reported: 05/2009 Amount Past Due: $0

I never made any kind of payment in 2006 and my CR shows as 90 day's late in October of 2006 which is funny because I had not paid on the vehicle for more than a year. And the EQ CR shows 12/2006 as the date it went to collections.

Date of Last Payment: 10/2006 Actual Payment Amount: $0

This really makes no sense at all as I look at my EQ and payment history it does not jive.

Date Major Delinquency First Reported: 12/2006 Months Reviewed: 45

This amount is about 1 Thousand less than what is being reported as the balance.

Charge Off Amount: $X,XXX

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Hi Thanks for the reply

This date is not correct as reported on my CR

Date of Last Payment: 10/2006 Actual Payment Amount: $0

I understand the SOL is 5 years but this is being reported wrong on my CR so Do I need to DV this with EQ also?

The way the account is being reported is not accurate.

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  • 2 weeks later...

Ok so I received a response from the CA yesterday and this is what was in it.

A letter from the CA stating that they represent the OC and that they are in receipt of my letter disputing the validity of debt. and at the bottom it states

Legal statement:

This firm is acting as a debt collector for the creditor named in this correspondence and any information obtained will be used for that purpose.

A photo copy of the retail installment contract, I have the original.

A copy of a "Print Screen" with the P & I amount with some other amounts but no payment history and information on how the amounts were calculated.

A letter of assignment from the dealership to the OC in 2005 not a letter of assignment from the OC to the CA.

A copy of what looks to be a application for credit but the signature is clearly not mine.

A copy of certificate of title.

They also sent me a copy of the OC's notice from 2005 with intent to sell the vehicle which has no merit because I recovered the vehicle the day after it was repossessed back then so I do not know why they sent that.

I sent the DV form from here with the following lines

Please provide me with the following:

What the money you say I owe is for;

Explain and show me how you calculated what you say I owe;

Provide me with copies of any papers that show I agreed to pay what you say I owe;

Provide a verification or copy of any judgment if applicable;

Identify the original creditor;

Prove the Statute of Limitations has not expired on this account

Show me that you are licensed to collect in my state

Provide me with your license numbers and Registered Agent

So I would like to ask how I should move forward with this CA? should I re request validation since they have not provided me the with the calculations or show me proof of assignment from the OC to them?

GA does not require a license so I did not expect that information back.

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What exactly happened to the vehicle?

You've said it was repossessed but you've also said you recovered the vehicle after it was repossessed...was it repossessed again, later? Was it sold at auction?

As far as the DV itself; it sounds like they've provided more than the law requires to constitute proper validation so if the debt is your debt (and it seems to be) and if it's within SOL (as it also appears to be) then it's time to start thinking of settling the debt.

Your only other option is to wait and see if they sue you and then try to defend the lawsuit if they do sue.

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Hi Robert,

The vehicle was repossessed in 2005 the day after my wife made a payment that was agreed on with the OC. The following day we recovered the vehicle it was never repossessed again.

I do not agree with the amount that they say we owe and the amount that is now being reported to the CRA's is much higher than it was 2 years ago, it was recently changed to a higher amount on my CR's

They have not provided me with the details of how they have calculated the amount so it looks like a fight. They have not reported my dispute to the CRA's either.

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Hi Robert,

The vehicle was repossessed in 2005 the day after my wife made a payment that was agreed on with the OC. The following day we recovered the vehicle it was never repossessed again.

I do not agree with the amount that they say we owe and the amount that is now being reported to the CRA's is much higher than it was 2 years ago, it was recently changed to a higher amount on my CR's

They have not provided me with the details of how they have calculated the amount so it looks like a fight. They have not reported my dispute to the CRA's either.

If they don't mark the account as disputed with the CRA's that is a violation (and a violation or multiple violations would give you some leverage to work with) but bear in mind that you have to allow them time to do so.

As I said above, the information they've provided you is more than sufficient under the law to constitute validation - I understand it may not be enough information for you but that is a different matter.

You are going to have to decide if you wish to try and ignore it (in which case they may eventually go away or they may sue you) OR you can try to settle the debt outside of court.

If they sue you then you will have ample opportunity and the tools necessary to demand the information you want about payments made, how the amount of the debt was calculated, etc. and you may even prevail in court.

If they don't sue you then maybe they'll leave you alone until after the SOL has passed.

If you wish to settle then you have to keep trying to work with them to get the information you need...explain that you are not willing to pay the debt until you fully understand how much you owe and why (in other words, not until they substantiate their numbers).

Edit: Let me also add that the fact that you have a vehicle in your possession that hasn't been fully paid for is probably not going to help you should this reach a courtroom but it does, perhaps, give you an opportunity...it might be possible to arrange a private sale of the vehicle and get the lien holder to accept the proceeds as settlement in full of the debt. Just a thought.

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  • 1 month later...

I have checked my CR's from Equifax, Truecredit and now identity guard and I do not see anything showing that the CCA has noted that I am disputing the Validity of their claim.

What does this mean for me?

I sent a DV in May and received a response to the DV in June and it is now July and nothing has been placed on my CR's from them.

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I have checked my CR's from Equifax, Truecredit and now identity guard and I do not see anything showing that the CCA has noted that I am disputing the Validity of their claim.

What does this mean for me?

Very little at the moment.

As I said above, should they sue you then you could sue them for their violations - it gives you a little leverage but not much.

Any way you look at this you have a mess on your hands...you said you were going to contact an attorney...did you and if so, what did he/she say?

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If you are like most folks who do not have the resources to throw around on a lawyer, try a NACA . net lawyer site. There seems to be a lot more in your state than in mine. Hopefully you will get some help or some good advice or maybe both!

Being that they reposed your car after you made a payment and now they want to charge you for there slip up seem unethical. But then again what is ethical anymore.

I know one thing for sure, DON'T WAIT FOR THEM TO TAKE YOU TO COURT!

Be pro active and nip this in the bud before it get to be a bigger headache than it is.

Hope this helps,

Bob E. :goodluck:

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The SOL for vehicles falls under the UCC which is four years. You may be free and clear as the last time paid is 2005.

People like to throw the UCC around when it comes to repossessions. However, to the best of my knowledge, no state is required to follow UCC for anything if they don't wish to do so and/or they can adopt UCC with whatever modifications they wish.

As for attorneys and their cost, most won't charge you for an initial consultation and a free consultation could go a lone way here.

EDIT: Another thought occurred...

I would highly encourage you to be proactive in getting this mess straightened out one way or another. A vehicle is not dishwasher or a TV set that can be easily disposed of...dishwashers and TV sets are registered by your county/state; a vehicle is. Even if the debt for the vehicle is OSS, I suspect this vehicle is going to be a problem and a weight on your back until you can somehow get a clear title to it. Otherwise, I would think even getting tags for it every year is going to be a problem. Maybe I'm off base here but I would think you are going to have to find a way to get this mess settled.

Edited by Robert_Nashville
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  • 2 weeks later...

So today I was served papers by the sheriff for this ordeal. I have contacted an attorney from the NACA . net site and he brought up some good points as far as the SOL and other things that have been mentioned in this thread.

The attorney praised the site because he said many people wait until the last minute to contact him and with the help of this site I am in the game early.

I will follow up with what happens.

Thanks for all of the information supplied thus far.

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So today I was served papers by the sheriff for this ordeal. I have contacted an attorney from the NACA . net site and he brought up some good points as far as the SOL and other things that have been mentioned in this thread.

The attorney praised the site because he said many people wait until the last minute to contact him and with the help of this site I am in the game early.

I will follow up with what happens.

Thanks for all of the information supplied thus far.

No advice, I just wanted to wish you good luck! :)++

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  • 4 weeks later...

Ok so here is the most up to date information on this.

As I said before I contacted an attorney that I found on the NACA site here in GA. He is very nice and very informative but a little steep in price but you get what you pay for right?

I have not retained him yet because I took his advice and contacted the CA/Attorney to see if I could get any further information above what I received from my DV, he also told me to see what their number is to settle and just get it taken care of, I did this and basically made an offer for double what it would cost me to retain the attorney.

The CA stumbled a few times before he said he would go to the OC and see what they come back with either a counter or acceptance. I waited a week and no contact so I called and was told the person at the OC was on vacation and to give it another week, I waited another week and called back today and was told that they still have not heard back. Well I need to answer the original summons by the 17th and it's funny that the CA rep is going to be out of the office tomorrow.

Anyway it looks like I need to answer or I will end up with a default judgment and it is 50/50 if that is what they are aiming for but when I told the CA today that I needed to know what was going on due to needing to answer he said well you have that right yadda yadda so I guess at this point he knows I am not stupid between the DV and knowing that I am close to a default if I do not answer.

Does anyone here have a generic answer letter that they have used and that can also be used in GA? if they do not have an acceptable counter I will just retain the attorney but I do not want to put out a bunch of money just to have a answer letter taken care of by an attorney.

Thank for everything so far.

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  • 3 months later...

Hello and Happy Holiday's

I'm trying to gett this one behind in 2010.

So as I said before I was served by the CCA for the OC. I answered the complaint and denied everything 8/2009.

I spoke to the CCA 9/2009 and made an initial offer and it took a few weeks for him to get back to me, the CCA advised me that the OC wanted the full amount so I countered and a few more weeks went by 9/2009 and the CCA left me a VM and I have not responded and I have not heard anything else via mail or by phone.

Anyhow I have credit monitoring through true credit and I noticed that this account was being reported as a "new" Delinquent account, it's been in collections since late 2004.

CRA Notification

Delinquent Account 10/17/2009

Is this re-aging?

CRA Remarks

[TransUnion] Charged off as bad debt

Account information disputed by consumer, meets FCRA requirements

[Experian] Customer disputed account - reported by subscriber.

Unpaid balance reported as a loss by the credit grantor.

[Equifax] Consumer disputes this account information

Charged off account

My credit report shows that I have a payment of $332.00 when my original loan in 2000 was for $425.00. I have not made an agreement with the CCA or OC on this.

Details

Payment: $332 $332

Opened: 10/25/2000 10/2000 10/2000

Reported: 11/09/2009 11/09/2009 11/2009

Responsibility: Individual Individual Individual

Thanks again!

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  • 8 months later...

So this post can be closed.

The end result was a Chapter 7 files yesterday to avoid a garnishment.

I was unable to get the OC to settle before the judgement was awrded. I still have the vehicle??? and the BK lawyer asked the same question as everyone else "They never took it" Nope.

Thanks for the advise I'll be reading the Chapter 7 Forums and other parts of the forums so I do not have this type of problem ever again.

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