Just Me 78631

Post Judgement Collection (Texas) UPDATED

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So, CACH a third party(JDB) received a judgement against me on February 16th 2016 in the amount of $1845.90. 

CACH was allowed to rely on the submitted "NOTICE OF FILING OF BUSINESS RECORDS AFFIDAVIT"

No amount of arguing my point about how the so called records could be generated by anyone made the judge budge, EXCEPT, the judge did ask and tried real hard to stay on my side, I had stated that I did not and had not made any of the payments they showed in the business records, the judge asked if I could prove that, and unfortunately for me I did not take my bank statements with me to court....so now I have this judgement of $1845.90 with interest of 5% per annum.

Fast forward to December 2017, I received a collection letter from Mercantile Adjustment Bureau, LLC (another JDB) attempting to collect $2147.75 as the current balance due as per authorization from CACH, LLC letter being dated November 30, 2017. I received this letter on December 15th 2017  .

First of all I have no intention of paying the judgement "EVER", I have nothing that CACH can put a lien on, nor do I have a job to make any type of payment to them. Not that it matters, but I had a very unfortunate incident that occurred in December 2014 that forced me to quit my job, and drain my retirement , and I am still struggling to recover from that incident.

So as to the new JDB, I am thinking of sending a Cease and Desist, or is there another way that I should attempt to respond to Mercantile?

Another thing the judgement amount was    $1845.90 with 5% annum, and the table below would be the correct amount up to today and the amount that should have been showing owed on the invoice they sent should have been right at $2014.02 

This Is The Daily Interest You Are Earning                                      0.252863

This Is The Number of Days Since Judgment                                               684

This Is The Interest On Judgment                                                        $ 172.96

This Is The Value of Your Judgment Today 12/31/2017                   $2018.86

 

I am open to any and all suggestions.....Thanks

 

Donna

 

     

                           

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Not sure where I got that, but if I figure the daily interest rate multiplied by 653 days which would be the number between 2/16/16  &  11/30/2017, then the correct amount should be $2011.02.

Edited by Just Me 78631
math

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20 minutes ago, BV80 said:

@Just Me 78631 

The amount in the letter is for 12/31/2017.    Add 31 days to your calculation.

 

I promise, I am not the sharpest when it comes to math, but this is how I figured it, and I just want to know where and how they came up with their number: Can you explain what I am doing wrong?

 

The letter is dated November 30th 2017 and states I owe $2147.75, but there are 653 days between 2/16/2016 and 11/30/2017 that would be $ 165.11 in interest making the total due as of November 30th 2017      $2011.02

 

 

My Original Judgment Amount: $ 1845.90 

The Date of Judgment Was Entered:  02/16/2016   

Annual Interest Rate: 5%

 

This Is the Daily Interest Rate: $ 0.252863 

This Is the Number of Days Since the Judgment: 684       days between 2/16/2016 and today

This Is the Interest since Judgment: $ 172.96

This Is the Value of Judgment Today: $  2018.63     December 31, 2017

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7 hours ago, Just Me 78631 said:

I have nothing that CACH can put a lien on, nor do I have a job to make any type of payment to them.

Feel free to return to work if you wish or can because Texas is one of the few states that does not allow wage garnishment for civil debts.  Just make sure your employer either gives you a paper check or you use a prepaid debit card to get the wages.  You would need to live unbanked so they could not levy the account.

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@Just Me 78631

I understand what you're doing.  The debt collector went ahead and added the interest for Dec. 2017.     That's how they came up with 684 days.   Notice that it it says "today.  December 31, 2017".

Add Dec.'s interest to the amount you calculated.

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38 minutes ago, BV80 said:

@Just Me 78631

I understand what you're doing.  The debt collector went ahead and added the interest for Dec. 2017.     That's how they came up with 684 days.   Notice that it it says "today.  December 31, 2017".

Add Dec.'s interest to the amount you calculated.

See

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44 minutes ago, Clydesmom said:

Feel free to return to work if you wish or can because Texas is one of the few states that does not allow wage garnishment for civil debts.  Just make sure your employer either gives you a paper check or you use a prepaid debit card to get the wages.  You would need to live unbanked so they could not levy the account.

I cannot work due to an incident that happened in December 2014.....and that incident caused me to have to spend my retirement fund in less than 60 days....I am never going to recover from that.....

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18 minutes ago, Just Me 78631 said:

See

Where did you get the "684 days", etc.   Was that on the reverse side or another page?

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@Just Me 78631

Quote

 

This Is The Daily Interest You Are Earning                                      0.252863

This Is The Number of Days Since Judgment                                               684

This Is The Interest On Judgment                                                        $ 172.96

This Is The Value of Your Judgment Today 12/31/2017                   $2018.86

 

Was the above written included in the letter you received?

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7 hours ago, BV80 said:

@Just Me 78631

Was the above written included in the letter you received?

No, when I got the letter the amount they alleged I owed seem high, I used the calculator  referenced above to see what the actual interest should be on the original judgement amount.

http://www.judgmentcenter.com/Calculator.htm

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2 hours ago, Just Me 78631 said:

No, when I got the letter the amount they alleged I owed seem high, I used the calculator  referenced above to see what the actual interest should be on the original judgement amount.

http://www.judgmentcenter.com/Calculator.htm

Okay.   The way you wrote it made it appear that it was written by the collection agency and included in the letter.  My mistake.

But again, the amount they claimed appears to include interest up to December 31.   You could consult a consumer attorney to determine if the CA violated the FDCPA by stating an incorrect amount. 

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3 minutes ago, BV80 said:

Okay.   The way you wrote it made it appear that it was written by the collection agency and included in the letter.  My mistake.

But again, the amount they claimed appears to include interest up to December 31.   You could consult a consumer attorney to determine if the CA violated the FDCPA by stating an incorrect amount. 

Sorry for the confusion, the letter states I owe $2,147.75 dated November 30th 2017.

The Judgement amount was for $1,845.90 entered on February 16th 2016 at 5% annum.

That is 0.252863 per day, so it is the wrong amount. To date (1/01/2018) according to the judgement I owe $2,019.11. This Mercantile Adjustment Bureau, LLC is alleging that as of November 30th 2017 I owe CACH LLC $2,147.75.

My question is, do I send Mercantile Adjustment LLC a Cease and Desist letter, and take up the issue of the wrong amount with CACH LLC ?

 

Thanks in Advance

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1 minute ago, Just Me 78631 said:

Sorry for the confusion, the letter states I owe $2,147.75 dated November 30th 2017.

The Judgement amount was for $1,845.90 entered on February 16th 2016 at 5% annum.

That is 0.252863 per day, so it is the wrong amount. To date (1/01/2018) according to the judgement I owe $2,019.11. This Mercantile Adjustment Bureau, LLC is alleging that as of November 30th 2017 I owe CACH LLC $2,147.75.

My question is, do I send Mercantile Adjustment LLC a Cease and Desist letter, and take up the issue of the wrong amount with CACH LLC ?

 

Thanks in Advance

I don't think there's a need to send a C&D.   I would simply contact an attorney about the letter.    While we don't endorse specific attorneys, I've read that Jerry Jarzombek is a good TX consumer attorney who understands the FDCPA.

If he or another consumer attorney determines that the letter violates the FDCPA, ask about vicarious liability.   The violator would be Mercantile.  However, CACH might be vicariously liable for the violation.   It would depend upon whether or not CACH is considered to be a debt collector as defined by the FDCPA.  (See Henson v. Santander Consumer,  Supreme Court of the U.S. (2017)).

 

 

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41 minutes ago, Just Me 78631 said:

The Judgement amount was for $1,845.90 entered on February 16th 2016 at 5% annum.

You need to go back and look at the court order.  Sometimes it is stated the judgement is for the [debt amount] plus court costs and attorney fees.  That amount is so strange that it is possible there are costs that are legal that are being added in.  

I also think you got the interest wrong.  The site you used goes by the interest amount you input not necessarily how the court is actually calculating it.  The Texas Finance Code states this:


Sec. 304.002. JUDGMENT INTEREST RATE: INTEREST RATE OR TIME PRICE DIFFERENTIAL IN CONTRACT. 

A money judgment of a court of this state on a contract that provides for interest or time price differential earns post judgment 
interest at a rate equal to the lesser of:

(1) the rate specified in the contract, which may be a variable rate; or
(2) 18 percent a year.

If they are considering a credit card case non contract interest can be up to 15%

Sec. 304.003. JUDGMENT INTEREST RATE: INTEREST RATE OR TIME PRICE DIFFERENTIAL NOT IN CONTRACT. 
(a) A money judgment of a court of this state to which Section 304.002 does not apply, including court costs awarded in the judgment 
and prejudgment interest, if any, earns postjudgment interest at the rate determined under this section.

(b) On the 15th day of each month, the consumer credit commissioner shall determine the postjudgment interest rate to be applied to a money judgment rendered during the succeeding calendar month.

(c) The postjudgment interest rate is:

(1) the prime rate as published by the Board of Governors of the Federal Reserve System on the date of computation;

(2) five percent a year if the prime rate as published by the Board of Governors of the Federal Reserve System described by Subdivision (1) is less than five percent; or

(3) 15 percent a year if the prime rate as published by the Board of Governors of the Federal Reserve System described by Subdivision (1) is more than 15 percent.

WORSE:  that interest is compounded annually:

Sec. 304.006. COMPOUNDING OF JUDGMENT INTEREST. 

Post judgment interest on a judgment of a court in this state compounds annually.

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.

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31 minutes ago, BV80 said:

  It would depend upon whether or not CACH is considered to be a debt collector as defined by the FDCPA.  (See Henson v. Santander Consumer,  Supreme Court of the U.S. (2017)).

I don't believe CACH is a debt collector on this matter now that they have a money judgment in their name awarded to them.  The court has ruled it is money owed to CACH and therefore they are the primary creditor on that judgment.  

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13 minutes ago, Clydesmom said:

You need to go back and look at the court order.  Sometimes it is stated the judgement is for the [debt amount] plus court costs and attorney fees.  That amount is so strange that it is possible there are costs that are legal that are being added in.  

I also think you got the interest wrong.  The site you used goes by the interest amount you input not necessarily how the court is actually calculating it.  The Texas Finance Code states this:


Sec. 304.002. JUDGMENT INTEREST RATE: INTEREST RATE OR TIME PRICE DIFFERENTIAL IN CONTRACT. 

A money judgment of a court of this state on a contract that provides for interest or time price differential earns post judgment 
interest at a rate equal to the lesser of:

(1) the rate specified in the contract, which may be a variable rate; or
(2) 18 percent a year.

If they are considering a credit card case non contract interest can be up to 15%


Sec. 304.003. JUDGMENT INTEREST RATE: INTEREST RATE OR TIME PRICE DIFFERENTIAL NOT IN CONTRACT. 
(a) A money judgment of a court of this state to which Section 304.002 does not apply, including court costs awarded in the judgment 
and prejudgment interest, if any, earns postjudgment interest at the rate determined under this section.

(b) On the 15th day of each month, the consumer credit commissioner shall determine the postjudgment interest rate to be applied to a money judgment rendered during the succeeding calendar month.

(c) The postjudgment interest rate is:

(1) the prime rate as published by the Board of Governors of the Federal Reserve System on the date of computation;

(2) five percent a year if the prime rate as published by the Board of Governors of the Federal Reserve System described by Subdivision (1) is less than five percent; or

(3) 15 percent a year if the prime rate as published by the Board of Governors of the Federal Reserve System described by Subdivision (1) is more than 15 percent.

WORSE:  that interest is compounded annually:


Sec. 304.006. COMPOUNDING OF JUDGMENT INTEREST. 

Post judgment interest on a judgment of a court in this state compounds annually.

Amended by Acts 1999, 76th Leg., ch. 62, Sec. 7.18(a), eff. Sept. 1, 1999.

The final judgement reads;

judgement in the amount of      $1,971.90 which is comprised of the principle in the amount of $1,845.90, interest of $0.00, reasonable attorney fees of $0.00 and court cost of $126.00 with post-judgement interest to accrue at the statutory rate of five percent (5.00%) per annum until paid, for all of which let execution issue.

 

So actually wouldn't the court costs be paid directly to the court instead of CACH? 

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6 minutes ago, Just Me 78631 said:

So actually wouldn't the court costs be paid directly to the court instead of CACH? 

No.  CACH has already paid the court costs to the court when they filed the case.  The court has ordered you reimburse them for that cost.

7 minutes ago, Just Me 78631 said:

The final judgement reads;

judgement in the amount of      $1,971.90 which is comprised of the principle in the amount of $1,845.90, interest of $0.00, reasonable attorney fees of $0.00 and court cost of $126.00 with post-judgement interest to accrue at the statutory rate of five percent (5.00%) per annum until paid, for all of which let execution issue.

There it is.  The court costs are the problem.  Unfortunately you get to pay interest on the ENTIRE amount of the award which is the debt and the costs.  Worse it is compounded annually so if the amount is $2100 approximately at the end of December add another 5% on to that total at the end of 2018.  States that allow compounding of interest on judgments are how a small judgment balloons to five figures quickly much to the shock of the Defendant. 

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@Just Me 78631

@Clydesmomis correct.   The interest accrues on the amount of judgment.  I should have asked if the amount you cited was the judgment amount ordered by the court.

 

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9 minutes ago, Clydesmom said:

No.  CACH has already paid the court costs to the court when they filed the case.  The court has ordered you reimburse them for that cost.

There it is.  The court costs are the problem.  Unfortunately you get to pay interest on the ENTIRE amount of the award which is the debt and the costs.  Worse it is compounded annually so if the amount is $2100 approximately at the end of December add another 5% on to that total at the end of 2018.  States that allow compounding of interest on judgments are how a small judgment balloons to five figures quickly much to the shock of the Defendant. 

Well now I can match the numbers up,  the amount is correct, so now should I send a cease and desist the Mercantile and let them know that I will only deal with CACH the now original creditor...

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3 minutes ago, BV80 said:

@Just Me 78631

@Clydesmomis correct.   The interest accrues on the amount of judgment.  I should have asked if the amount you cited was the judgment amount ordered by the court.

 

Its all good, I just want to be rid of another collector.....so I guess I will send the C&D to Mercantile and any other CACH sends my way......

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1 minute ago, Just Me 78631 said:

Well now I can match the numbers up,  the amount is correct, so now should I send a cease and desist the Mercantile and let them know that I will only deal with CACH the now original creditor...

I would send a little more detailed answer stating that currently I have no assets and remain unemployed.  I cannot pay this judgment and will not be able to for the forseeable future so please do not contact me about this matter again.  Should my financial situation change I will contact CACH directly.  

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Financial Information

Not that it matters, but this is the Financial information at the court house.                              

Plaintiff CACH, LLC                                                         Total Financial Assessment  46.00      

                                                                                                     Total Payments and Credits  46.00  

  08/25/2015                                                                           Transaction Assessment      46.00  

  08/25/2015                                    Payment  Receipt # 48457-JP2  CACH, LLC  (46.00)  

Balance Due as of 01/01/2018  0.00                        

Edited by Just Me 78631
correction

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