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I've recently been  sued by BOA attornies for 13k and it's within the SOL. I'm on SS disability and my home is my only asset. It is protected 100% under MA Homestead law. I have no other assets unless they'd like my 14 yo Honda. I answered my summons and received my  court date of 4/23 today for a case management conference. I also received a letter from the debt collection law firm asking for my suggestion for a  settlement or a monthly payment plan to resolve things amicably. I doubt they'd accept a 25% offer over a long period of time.  They also want me to provide them with all of my financial info. I  don't want to be handing them my bank account number and think I'd rather wait for the court date(as much as I don't want to go). At least there's the judge there. Just wondering what people would do in this case. Thanks!

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What ever you do ......... don't give any financial info like bank account numbers.

You could send them a letter with an offer just to avoid having to go to court but, don't ever admit owing the alleged debt.

Sounds like you're pretty judgment proof but, who wants a lien on their home? They can also lien your tax refunds if you get any so there's that to think about, also.

 

BofA does not like arbitration.  I've backed them off twice just by sending a DV letter mentioning arbitration.

Of course DV is not an option for you because you've already been served suit but, if your card member agreement has an arbitration clause in it, it's generally not to late to bring up arbitration after suit. Just do it early on.

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Federal law protects your social security benefits from creditor claims. Regardless, if your direct deposit goes into a B of A account, you might consider changing banks, since banks, like debt collectors, don't care anything about federal law, your rights, or anything else, when it comes to the collection of money.

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They can't put a lien on my home because I have it protected under Homestead Act in MA and they can only put a lien on it for secured debt like home equity loans,etc. You're right Savoir,I'd never give the law firm my bank account numbers anyway. I may send them a settlement offer but I doubt they'll take it,especially since I have no lump sum to give them.

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You're right ............. I read that about your home being protected and just glossed over it ......... sorry.

If you explain your financial situation in your offer they may take a long term offer of payment ....... you just never know.

 

........ plus what Bruno just beat me to .........

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