Calvary SPV - Collections Please Help

[irenazaal@gmail.com]

I had a citi cards/costco that i couldn't make anymore payments on. They sold my account to Calvary. I have disputed this via the credit bureaus and have talked to Calvary twice so far to try to come to an agreement to settle. I have not expressly or otherwise have admitted this is my debt. They refuse to settle with me for less than 55%. the balance is $5406. Please help me. I have read on here a lot about Arbitration. What exactly do i need to write on that form if that is still a good idea to go with. 

 

Thank you! 

 

- Irena 

[WhoCares1000]

You are far away from arbitration right now. That is usually done when they sue you. Note that Citi might have a small claims exception to arbitration so you need to see if Citi can use small claims court or not.

In the meantime, if the lowest they will go is 55% and you cannot afford to pay that, just let them know that and that you will be turning to other creditors. Then just talk to them once every 2 weeks until you either have the 55% or they come up with a lower deal. If they sue you, you can deal with it at that point.

[BackFromTheDebt]

I don't know the laws in NC about small claims cases.

Basically, here is the situation.

Citi doesn't want to settle for less than 55%, because they can sue you, win the case, and get all that money plus whatever interest they can get after a judgment,

Your first step is to find out whether you can be sued in small claims court over a 5k+ debt.  In some states you can, in others you cannot.  

If they cannot sue you in small claims court, you wait until you are sued, and then you file an MTC.  

If the CAN sue you in small claims court, you need to arbitrate.

Your second step is to read up as much as you can about arbitration, so you will be prepared.  If you don't agree to a settlement, then they will send it to a lawyer.  If they can sue in small claims, you need to file in JAMS as soon as they send it to a lawyer.  That is why you need to be prepared with step 1 and step 2.  

 

I had two cases with Citi.  One case was a larger amount, so I took that to JAMS after they sued me. The other case was a smaller amount, so I took that one to JAMS before they could sue me.  

 

Do your homework now, so you will be ready.  

[nobk4me]

The OC is Citi. The OP is now dealing with a JDB.

[BackFromTheDebt]

7 minutes ago, nobk4me said:

 

The OC is Citi. The OP is now dealing with a JDB.

So much the better, because JDBs rarely follow into arbitration. 

[irenazaal@gmail.com]

Thank you all so much. 

 

I initially Calvary had sent it to a lawyer (Cawley & Bergmann, our of NJ) however when the lawyers refused to settle with me I called Calvary and let them know. Then Calvary told me they had taken the case away from the lawyer and was now handling it themselves. My case is with consumer affairs with them since i am disputing it. 

 

I will continue to research it and see what happens. 

[irenazaal@gmail.com]

Hi guys, one more question. Cavalry sent me a letter in which, among other informaiton, they say that they are licensed in the NC Dept. of Insurance and I am unable to find them when i search. After some more digging I found a case where the AG in NC had gone after a collection agency for claiming they were licensed in NC and therefore had the authority to pursue collections but in truth they were not and the AG was able to get a settlement for the consumer. Have any of you heard any such thing, and would it be prudent of me to file a complaint with the AG? I want to file with the AG but i dont want them to then retaliate although it would be illegal they could still try to do some damage out of spite. Any thoughts are appreciated. 

[BV80]

17 minutes ago, irenazaal@gmail.com said:

Hi guys, one more question. Cavalry sent me a letter in which, among other informaiton, they say that they are licensed in the NC Dept. of Insurance and I am unable to find them when i search. After some more digging I found a case where the AG in NC had gone after a collection agency for claiming they were licensed in NC and therefore had the authority to pursue collections but in truth they were not and the AG was able to get a settlement for the consumer. Have any of you heard any such thing, and would it be prudent of me to file a complaint with the AG? I want to file with the AG but i dont want them to then retaliate although it would be illegal they could still try to do some damage out of spite. Any thoughts are appreciated. 

Did you use this page?

https://sbs-nc.naic.org/Lion-Web/jsp/sbsreports/CompanySearchLookup.jsp

[irenazaal@gmail.com]

I didn't but i did now. 

Thank you,  

 

I thought i had something to go on. I am kinda loosing my mind here. The fact that they are seemingly doing everything right and not even trying to collect on me. i wonder if they are preparing to sue. I am so scared. 

[WhoCares1000]

The way to reduce hear is to become informed. Learn the rules of the court so that you know if you have to preemptively start arbitration to avoid small claims court or if you can wait until a case is filed. Learn how arbitration works. You need to replace fear with information and when you do that, you will find that there is nothing to be scared of. Even if they are not calling, don't hide your head in the sand because you may find that it is too late to do something when they finally do act.