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Personal Line of Credit defended same way as Credit Card debt?

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I haven't been sued on this alleged account yet but expect some action from the JDB soon.


This was an unsolicited check from Beneficial/HSBC for $7k.


"Once you cash it, you open a loan from Beneficial."

"Your new loan is a revolving line of credit"


Opened 2006

Defaulted 2008



Do they use the same complaints, Breach of Contract and/or Account Stated, as they do with a CC debt? 


This went from Beneficial to LHR to Midland so there is always their standing to challenge.


I have been searching for a Beneficial or HFC agreement to see what arbitration may have to offer but have not found one yet.







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Most likely it will be the same causes of action, since this follows the same format as a credit card debt. It's open ended credit. It's also from an out of business company which was absorbed by somebody who launders drug cartel money, so where is their credibility? Where is the contract disclosing the terms of this supposed loan? It's fine for them to make these idiotic statements, but that does not absolve them of their TILA obligation to disclose. "Here's a loan, try to guess what the terms are" doesn't fly. For all the court knows, it could say "pay us if you feel like it, if you don't, no problem." They won't have much to prove account stated with no provable promise to pay. Breach of a contract that does not exist is just as iffy. How about the SOL? 2008 looks kinda borderline. Maybe you have a 6 yr SOL, so they let the interest run for five years? Huh? What are you, their personal investment fund at 9 percent?

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