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2nd Collection Attempt on RV


floridainneed
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In 2009 a California Law firm attempted to collect on a reposssed vehicle. I used the Debt Validation process with the initial Law firm and it worked on them in Sept, 2009. After sending them the letters, they failed to respond. On my credit report it says "collection/chargeoff". In the past month, I was contacted by another collection company, Integrity Financial Partners, trying to collect on this amount of $110,000 for the RV. I may also have a case where SOL comes into play with my last payment being made in MArch/April, 2008. A Few days ago I received letters from Integrity Financial Partners (via regular mail, not certified) very similar to what the law firm sent me in Sept, 2009. The letter indicates they are being contraced by US Bank to collect on an overdue account and giving me 30 to contact them. What should my course of action be at this time. Start the Debt Validation process again, take the SOL route....please help!

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Each time you have a new JDB you must start the DV process all over again. One side note that I want to warn you about. I had a RV repoed after a bad divorce, I was then sent a 1099C by the OC for more than $25,500 dollars. Now I have to pay tax to the IRS on that amount.

You are going to be in worse shape than I am. On the $25,000 plus if I end up paying the tax's, it will cost me about six hundred dollars this year. On $110,000, you are going to pay a heck of a lot more in taxes. The OC has up to three years to send you the 1099C. So, it may be a few years before you get it, but you will get one. About the only hope you will have is claiming insolvency for the year you get the 1099C. Good luck.

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