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Question about Potential Lawsuit


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I have a debt (over 25k) that I inherited via divorce.

Long story - it is with a JDB who has referred it to a local attorney.

I have conversed via email with the attorney, and I believe they are about to offer a settlement.

Here is the weird thing.....and if it goes to court.....I am wondering if it will help me at all.

This account (major credit card) does not appear ANYWHERE on my credit report.  JDB states the card was open for 8 years.  Over 180 days of non-payment......but no mention anywhere.  No chargeoff, no collection - it just doesn't exist.

Any ideas?  Can this help me?

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3 hours ago, Ragamuffin said:

This account (major credit card) does not appear ANYWHERE on my credit report.  JDB states the card was open for 8 years.  Over 180 days of non-payment......but no mention anywhere.  No chargeoff, no collection - it just doesn't exist.

This is a new tactic that JDBs are now using so that the consumer does not have a counter claim for FDCPA or FCRA violations.  There is no requirement they report the debt at all so they opt not to in order for the lawsuit path to be easier.

 

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2 hours ago, Ragamuffin said:

I understand the JDB not reporting.....but why wouldnt the original creditor reported months of not paying and a charge off?

It is part of the terms of sale of the account from the OC to the JDB.  They want the OC to stop reporting so that there are not any counter claims what so ever.  It also  makes it harder for a Defendant to dispute the date of last payment if it has been years between default and the suit if there is no credit report trade line backing up that last payment date showing it is outside the statute of limitations.  

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