Being Sued by Credit Corp Solutions Inc

[melann33]

Hello all,  I have been reading through the forums for the last few hours trying to determine the best way to handle this lawsuit and the reply I should send. I've done some research, and it appears the statue of limitation for a promissory note loan is 3 years in Arkansas. However, I'm not sure if this would apply based on my location, the original creditor location,  the bank's location, or the plaintiff Credit Corp Solutions. The loan was through lending club who is based on Delaware. However, the original creditor is listed as Web Bank on the lawsuit although they also have Lending Club listed multiple times as well.

Also, Credit Corp solutions never sent any information in the mail concerning the debt. However, it appears they were attempting to communicate with me through an old email account that was linked to my lending club account. When searching today for statements and documents from Lendingclub, I found multiple emails from Credit Corp Solutions indicating they purchased the account. I also noticed the amount owed on each letter varies as if they were adding interest charges to the charged off debt. However, the lawsuit does not include these interest charges and states the current interest rate applicable to the account is 0%. For example, the very first email indicated I owed  $2,068.72, the second showed $2,172.83, then a 3rd email shows $2,190,  but no interest rate is ever mentioned. The original loan with lending club had 13% rate. Credit Corp never sent an email with the original amount owed of $2057.56. Lending club also sent an email indicated the account was charged off for $2057.56. I have since downloaded all emails, all documents from my lending club portal including the original promissory note although no promissory note was attached to the lawsuit. 

1. Who is the named plaintiff in the suit? Credit Corp Solutions Inc

2. What is the name of the law firm handling the suit? Llyod & Mcdainel, PLC, Louisville, KY

3. How much are you being sued for? $2057.56

4. Who is the original creditor? The original creditor is Lending Club, but the 'affidavit of account' list the originating bank (WebBank)

5. How do you know you are being sued? (You were served, right?)  Served by local sheriffs office

6. How were you served? (Mail, In person, Notice on door) in person

7. Was the service legal as required by your state? Yes

8. What was your correspondence (if any) with the people suing you before you think you were being sued? Never spoke with them

9. What state and county do you live in? Arkansas

10. When is the last time you paid on this account?  3 years (last payment to lending club 11/20/2017) 

11. What is the SOL on the debt? 3 years in Arkansas believe if considered a promissory note. 

12. What is the status of your case? Suit served? Motions filed?  No action taken on my part. Trying to figure out how I should answer or whether to consult with an Attorney

13. Have you disputed the debt with the credit bureaus (both the original creditor and the collection agency?) No, Credit Corp Solutions never reported this on my credit report. Only the original debt from Lending Club is reported as closed with $0 balance. 

14. Did you request debt validation before the suit was filed? No

15. How long do you have to respond to the suit? 30 days. Served on the 04/30/2021 

16. What evidence did they send with the summons?

- Bill Of Sale with Lot Number, Total Unpaid Balance, and Number of Accounts purchased from Lending Club Corporation 

- Copy Of True In Lending Disclosure from Lending Club

- Copy of Membership Agreement from Lending Club

- Affidavit of Account 

- List of payments made to lending club with ending balance 

[Clydesmom]

42 minutes ago, melann33 said:

What is the SOL on the debt? 3 years in Arkansas believe if considered a promissory note. 

Actually the SOL on written contracts in Arkansas is 5 years.  A promissory note is a written contract.

Web Bank is the underwriter for Lending Club loans.  

They have an arbitration clause.  When used in other cases like yours they have dismissed and dropped it.