served by credit union..no arbitration clause?

[goodguy2]

served by credit union..no arbitration clause?

credit card debt.... any ideas?

[Quader]

who is the OC?

[WhoCares1000]

The OC is probably the credit union itself and I would suggest settling. Credit Unions did not do the same idiotic stuff as banks. As such, they did not put arbitration clauses in their contracts and they keep very good records. I really do not think this person would have a chance of defending this case.

[goodguy2]

The OC is probably the credit union itself and I would suggest settling. Credit Unions did not do the same idiotic stuff as banks. As such, they did not put arbitration clauses in their contracts and they keep very good records. I really do not think this person would have a chance of defending this case.

yeah. i think you may be right

any ideas on offers to settle? without getting a judgement?

[Guest usctrojanalum]

Be afraid of CU's, be very afraid.

[goodguy2]

Be afraid of CU's, be very afraid.

well.... you win the mean guy contest, congrats

and thanks for all your help

[goodguy2]

FYI

I am pretty sure this credit union used secondary markets and sold credit card account pools

Not sure where to look..........

[jkg3]

FYI

I am pretty sure this credit union used secondary markets and sold credit card account pools

Not sure where to look..........

Which CU is it?

[ADSOFT]

Are you being sued by the actual CU or did they sell the debt.

btw, I would post the default section of the agreeement. Just because no arbitration clause, doesn't mean that there are other ways to win.

[goodguy2]

Are you being sued by the actual CU or did they sell the debt.

btw, I would post the default section of the agreeement. Just because no arbitration clause, doesn't mean that there are other ways to win.

CU

[goodguy2]

Are you being sued by the actual CU or did they sell the debt.

btw, I would post the default section of the agreeement. Just because no arbitration clause, doesn't mean that there are other ways to win.

I WILL LOOK FOR THE AGREEMENT

[ADSOFT]

FYI

I am pretty sure this credit union used secondary markets and sold credit card account pools

Not sure where to look..........

I'm not sure what you mean by this, did they sell the debt to JDB.

The way to know for sure is to look at the case: Who is the plantiff?

[trueq]

Was the one with NO ARBITRATION CLAUSE &

the ACA's top accredited and award winning creditor law firm coming after me.

This law firm shows up. Has all the documents and has an honest to God witness for the OC.

I motioned, I appealed, and still lost, but still negotiated a discount settlement for the judgment AND GOT JUDGMENT VACATED AS PART OF THE DISCOUNTED LUMPM SUM PAYMENT DEAL. However, I would have paid half as much had I settled this one before judgment.

I am Mr. fight all the way, but if you can't see the path to victory, I'd settle.

OR

Use money from a credit card that does have an arbitration clause to pay this CU off and default on the card you can beat.

HOWEVER,

This same bank has now inserted an arbitration clause, and I am going after them in arbitration for violating consumer law...so its not over. I don't like to lose!

Edited May 2, 2010 by trueq

[1stStep]

I'd do the following-

1. Answer lawsuit.

2. Make a lowball settlement offer and send it to both the atty and the CU's Board of Directors... their the boss here... in your offer to the Board, use language like " in the interest of keeping litigation costs low..."

[jkg3]

I'd do the following-

1. Answer lawsuit.

2. Make a lowball settlement offer and send it to both the atty and the CU's Board of Directors... their the boss here... in your offer to the Board, use language like " in the interest of keeping litigation costs low..."

I would also make a polite reference to bankruptcy being the only other alternative.

[ADSOFT]

I'd do the following-

1. Answer lawsuit.

2. Make a lowball settlement offer and send it to both the atty and the CU's Board of Directors... their the boss here... in your offer to the Board, use language like " in the interest of keeping litigation costs low..."

If you have enough money to settle, then just file a Bill Of Particulars. Once the prove they have all the elements of the case, then negotiate a settlement, less than the amount you owed prior to the time you stopped paying.

[goodguy2]

Was the one with NO ARBITRATION CLAUSE &

the ACA's top accredited and award winning creditor law firm coming after me.

This law firm shows up. Has all the documents and has an honest to God witness for the OC.

I motioned, I appealed, and still lost, but still negotiated a discount settlement for the judgment AND GOT JUDGMENT VACATED AS PART OF THE DISCOUNTED LUMPM SUM PAYMENT DEAL. However, I would have paid half as much had I settled this one before judgment.

I am Mr. fight all the way, but if you can't see the path to victory, I'd settle.

OR

Use money from a credit card that does have an arbitration clause to pay this CU off and default on the card you can beat.

HOWEVER,

This same bank has now inserted an arbitration clause, and I am going after them in arbitration for violating consumer law...so its not over. I don't like to lose!

Thanks !!!!!!!!

[goodguy2]

I'm not sure what you mean by this, did they sell the debt to JDB.

The way to know for sure is to look at the case: Who is the plantiff?

I am not sure if you guys understand the secondary markets for buying and selling debts.

In simple terms most banks sell their loans the moment the loan is formed then loan out the same money again and again and again

what happens is the debt assignments are not done correctly back and forth as required by UCC and state commercial code.

So it is kind of a Novation defense. Very complicated and most judges don't even want to go there.

But i can try to teach the judges, if they will listen to a pro se

[goodguy2]

well.......... here it is 5 months later and they finally hit me with the lawsuit. guess they had to beat the court filing deadline.

nice package full signed card agreement, credit card agreement, copies of credit card receipts and affidavit from a bank employee verifying the account. and summary judgement

please review the credit agreement and visa agreement..........

here is the url for reading or downloading it

https://acrobat.com/#d=x*APxB76CY37f9ybfOmvzQ

need to answer by Monday, any ideas?

pages 4 and 5 would not scan correctly!

here they are upside right!

https://acrobat.com/#d=oqB6HIdjaCEzk-nHzfMeVA

Edited November 17, 2010 by goodguy2

[WhoCares1000]

Local credit union huh? Looks like they have their ducks in a row and are probably going to get a judgment. I would suggest seeing if you can negotiate with them but otherwise, I do not see you getting out of this.

Understand that local banks and credit unions did not and do not follow the activities of the regional and national banks. They are more likely to keep their records in order and not sell off the debts to CAs and JDBs. They do things the way banks did things when your grandparents were alive. Because of that, when they sue you, they will have the paperwork and odds are likely they will win.

Sorry to not have better news for you but sometimes, that is the way it is.

[RebelLady]

Yeah...what WhoCares1000 said

RL

[ADSOFT]

well.......... here it is 5 months later and they finally hit me with the lawsuit. guess they had to beat the court filing deadline.

nice package full signed card agreement, credit card agreement, copies of credit card receipts and affidavit from a bank employee verifying the account. and summary judgement

please review the credit agreement and visa agreement..........

here is the url for reading or downloading it

https://acrobat.com/#d=x*APxB76CY37f9ybfOmvzQ

need to answer by Monday, any ideas?

pages 4 and 5 would not scan correctly!

here they are upside right!

https://acrobat.com/#d=oqB6HIdjaCEzk-nHzfMeVA

I keep getting that Acrobat is unavailable in your links.

They may have breached, so there might still be a chance.

[goodguy2]

I keep getting that Acrobat is unavailable in your links.

They may have breached, so there might still be a chance.

i tested both links just now and they worked for me. maybe you need acrobat loaded on your computer?

i can email to you. pm me your email address - thanks!

Edited November 18, 2010 by goodguy2

[goodguy2]

Local credit union huh? Looks like they have their ducks in a row and are probably going to get a judgment. I would suggest seeing if you can negotiate with them but otherwise, I do not see you getting out of this.

Understand that local banks and credit unions did not and do not follow the activities of the regional and national banks. They are more likely to keep their records in order and not sell off the debts to CAs and JDBs. They do things the way banks did things when your grandparents were alive. Because of that, when they sue you, they will have the paperwork and odds are likely they will win.

Sorry to not have better news for you but sometimes, that is the way it is.

Actually it is a national affiliated Federal credit union and they participated in the same MBS secondary market same as Countrywide Bank America and everyone else. and including pooling investment trusts for credit cards.

these guys have received tens of millions in dollars in Federal bailout money to keep afloat!

just need help from someone with experience at this type of defense! it does exist! someone here must have used it

I read A post by "MASSIVE" that said he had this defense and it worked but he is not responding to my posts or PM's

Anyone else out there???????????