Sunshine2020

Received notice of intent to file suit (Hunt & Henriques)

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5 hours ago, WhoCares1000 said:

If there was a sale, what would have to happen is that the new creditor would have to send out a copy of the new contract to the debtors setting the terms of when the new contract becomes enforceable and how to opt out (usually it is determined by use of card), If you default before the new terms become enforceable and cannot use the card, then the old terms are in place. Remember that the terms of credit cards are changed as often as some people change underwear.

When you opened the account is to determine how long you have had the card (and where to start looking for an agreement). Date of First Default is the more important date when determining what agreement was in force.

@WhoCares1000This is helpful. So it appears that the last payment made was in 9/2019 and I never made a payment after that. The account was sold to Cap One and showing closed under SYNCB 10/10/2019 on all CRs. The new Cap One tradeline is confusing with what it's reporting because it looks like it was current until Nov. 2019 and then was reported 30 days in Dec. I do know that they payment due dates changed but since I never paid after Sept. 2019, I'm pretty positive that I never paid anything to Cap One and didn't receive any new terms from them. I certainly didn't get a new card or anything. 

Trying to find let alone prove what agreement was in place during the transfer is going to be tricky. I wonder if it would be in my best interest to dispute the tradelines with the CR on basis of history. Since I have had two phone convos with the law firm that is collecting on behalf of this one and an offer of settlement from them that sucked by the way, perhaps I should call and probe them for more information regarding this. I missed the DV cut off date on this one. 

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31 minutes ago, WhoCares1000 said:

Some say to DV just to make one more hurdle for them to hop over. Others recommend to not DV because it lets the creditor know that they have the right person and where to contact them. Most of this is done by computers today but you never know what can happen on the other side.

As for calling them, don't unless you are going to settle. Either they will sue you or not and that will be up to them. You can settle a debt anytime before the judge states that they are going to render a judgement so you will have plenty of time to settle, even if they file.

As for Sychrony changing how they do business, it could be possible. Especially as the arbitration stuff becomes more popular, the JDBs are either refusing to buy their debts or will purchase at a huge discount because of the clause. In this world, things change constantly so nothing is really surprising.

I have also heard that sometimes a DV is best left alone because then it draws attention to you. 

I am going to try and settle all of my accounts. The main hurdle here is that I do not have the money and will not have it anytime soon to settle all in full so I'm trying to come up with a plan of attack on who to settle first, who to ignore and see if I will be sued. 

I have a large amount of debt with SYNCB. It would be just my luck for them to change their biz model now lol. 😫 

 

 

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On 2/4/2021 at 1:01 PM, womanonfire said:

I have also heard that sometimes a DV is best left alone because then it draws attention to you. 

I am going to try and settle all of my accounts. The main hurdle here is that I do not have the money and will not have it anytime soon to settle all in full so I'm trying to come up with a plan of attack on who to settle first, who to ignore and see if I will be sued. 

I have a large amount of debt with SYNCB. It would be just my luck for them to change their biz model now lol. 😫 

 

 

If you have that many accounts and they are all in collections now, then you may want to look into Bankruptcy.  It sounds terrible, but unless you have a home with a large equity amount, it actually can be the best route to get everything wiped out and put behind you and quickly start on the recovery road.  It is much faster and easier than dealing with dozens of lawsuits and arbitrations over many years.

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39 minutes ago, fisthardcheese said:

If you have that many accounts and they are all in collections now, then you may want to look into Bankruptcy.  It sounds terrible, but unless you have a home with a large equity amount, it actually can be the best route to get everything wiped out and put behind you and quickly start on the recovery road.  It is much faster and easier than dealing with dozens of lawsuits and arbitrations over many years.

I do have a home with a large amount of equity which is why I was told that I can't afford it. 

Also, just got sued today. 😕

 

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36 minutes ago, fisthardcheese said:

If you have that many accounts and they are all in collections now, then you may want to look into Bankruptcy.  It sounds terrible, but unless you have a home with a large equity amount, it actually can be the best route to get everything wiped out and put behind you and quickly start on the recovery road.  It is much faster and easier than dealing with dozens of lawsuits and arbitrations over many years.

This. 
 

I had a lot of debt in various accounts, and I came close to BK.  Thing is, the way the laws work it wasn’t good for me, and that was a time when everyone had arbitration and nobody knew how to handle it.  It took some really stupid stuff on the part of the banks that do follow into arbitration for me to avoid BK. 
 

But for other people BK is a godsend.  I have known people who were able to get their lives turned around quickly using BK.  
 

The goal is to do what is best for YOU.  If BK is a bad idea, avoid it as much as possible.  If it would help you out, then file for BK. 
 

You might want to look around for a good BK attorney for a consultation, if you have a lot of debts.  

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