Being Sued

Quick_Stamp · #1 07-26-2007, 12:46 PM

I have heard that when a law firm / collection agency buys a default account they pay less than the amount owed. Is there a way to find out how much they paid? I want to make them an offer for less than what they are suing for. This is for a credit card debt.

FYI: Some of you may know this, but I recently discovered that every state has a statue of limitations regarding credit card debt. In California the debt is no longer valid 4 yrs from the date of the last payment made.

Notorial dissent · #2 08-01-2007, 01:19 AM

There is no way to find out what the discount was they paid for the debt.

The only thing you can do is make them an offer and see if they accept it. A lot will depend on how big the debt was and how likely they think they are to collect.

masterduke · #3 08-01-2007, 06:17 PM

Quote:

Originally Posted by Quick_Stamp

I have heard that when a law firm / collection agency buys a default account they pay less than the amount owed. Is there a way to find out how much they paid? I want to make them an offer for less than what they are suing for. This is for a credit card debt.

FYI: Some of you may know this, but I recently discovered that every state has a statue of limitations regarding credit card debt. In California the debt is no longer valid 4 yrs from the date of the last payment made.

If the SOL has run on the so-called 'debt' then the only way the debt attorneys can 'restart' the clock is to dupe you into making some sort of payment to them which will reset the SOL all over again. Don't be fooled by some 'one time/payment offer' from some chump operation. This is just one example of many as to the methods these ghouls will descend to in order to get people back on the hook.

Quick_Stamp · #4 08-01-2007, 08:31 PM

Thanks N.D. and Masterduke. The SOL unfortuantely has not run out, I have a year to go. I have been served by the debt attorney and have responded as well as having filed a motion to compel them to produce a signed application. I had to postpone the original court date set for that hearing until Aug. 14th. In the meantime they have hit me with interrogatories demanding that I admit that I had a cc with the number listed, that I made a payment in 04. This has to be answered before the motion hearing. Rather than **** around anymore I thought I would just attempt to settle it for less than the amount, knowing whoever they bought it from they didn't pay the full amount.

gldskr · #5 08-01-2007, 08:35 PM

Quote:

Originally Posted by Quick_Stamp

I have heard that when a law firm / collection agency buys a default account they pay less than the amount owed. Is there a way to find out how much they paid? I want to make them an offer for less than what they are suing for. This is for a credit card debt.

While accounts receivable are routinely bought and sold on the open market, credit card debt is not. It is an entirely different animal.

Debt collectors do not buy delinquent debt, they are assigned the right of collection whereas they retain a portion of the proceeds for their efforts (harassment).

Once you understand that credit is what was contracted for, not money, you will then see the extent of the scam. The only lawful recourse an original creditor has against a delinquent customer is to terminate the credit, as no actual loss accrued to the OC. They can provide no documentary evidence or a fact witness to prove a debt exists.

Like all government scams they rely upon you to incriminate yourself. So if you make a reduced offer to pay, you have admitted the debt which they can use against you to recover the entire amount. If you are concerned about your credit rating let them make an offer to you and act accordingly.

If you are being sued, they have no standing to do so, which was discussed in other threads. If you do not handle your case appropriately, you will allow them to let you incriminate yourself, which is all they've got.

gldskr

masterduke · #6 08-03-2007, 04:04 PM

Quote:

Originally Posted by gldskr

While accounts receivable are routinely bought and sold on the open market, credit card debt is not. It is an entirely different animal.

Debt collectors do not buy delinquent debt, they are assigned the right of collection whereas they retain a portion of the proceeds for their efforts (harassment).

Once you understand that credit is what was contracted for, not money, you will then see the extent of the scam. The only lawful recourse an original creditor has against a delinquent customer is to terminate the credit, as no actual loss accrued to the OC. They can provide no documentary evidence or a fact witness to prove a debt exists.

Like all government scams they rely upon you to incriminate yourself. So if you make a reduced offer to pay, you have admitted the debt which they can use against you to recover the entire amount. If you are concerned about your credit rating let them make an offer to you and act accordingly.

If you are being sued, they have no standing to do so, which was discussed in other threads. If you do not handle your case appropriately, you will allow them to let you incriminate yourself, which is all they've got.

gldskr

And the judge will help them at every possible turn. It is a well oiled machine these creeps have installed and now better 'lubricated' than ever thanks to snoopy computers. Clear out your bank before they do.

Quick_Stamp · #7 08-14-2007, 10:22 AM

Had my day in court this morning for a motion hearing to compel production of documents (signed contract). The tentative ruling: Denied, defendant has not filed a motion, points and authorities or a declaration as required by the rules of court. CRC 3.1112

Waiting outside before the hearings starts, the attorney happens to sit next to me. He takes a stab in the dark and asks if I am the defendant. I look at him casually and say nothing and he says, no, not you? I still say nothing. We sit waiting. I have no idea what to do. I am flying blind here.

Once we enter the court and check in with the clerk, he clearly knows that I am the defendant, and then sits behind me and begins his attempt to get me to settle. The first thing he says is "hey, at the end of the day I am just doing my job". He continues, by telling me that he's had people make payment arrangements for as little as 50.00 a month. He then made reference to my motion to dismiss and that he had a similar situation in Northern California and the judge required mediation. In cases like that he's settled for as little as 40 or 50 cent on the dollar. The entire time I say nothing.

The case is called and we approach. I am very nervous, because I not sure what I can say or not say so I don't get tricked into some verdict against me. I stand tall and when the judge asks if I saw his tentitive ruling, I say yes, he then asks if I want to be heard? I didn't know what that meant, but I assumed that since it was a tentative ruling, then maybe I could resubmitt it having properly structured it. He said yes. The attorney then asked if the case could go to medation. Judge looks at me, " is that ok with you". Your honor I have a motion to dismiss to be heard on Sept. 4. He then decides to continue until after the fourth.

At elevator the attorney starts in again. Asking if I considered anything he suggested. I said I would wait until after the fourth. "I know how these things end. You people who represent yourselves, you don't know what you're doing. I know how these things end up". Silence. "Bottom line 3rd party debt collectors can sue".

There were two cases heard before mine by conference call. What I was amazed to see, was how chummy the judge was with counsel.

gldskr · #8 08-14-2007, 02:22 PM

QS

Did you notice that the judge made a tentative ruling and not an actual ruling? Because of your MTD there was nothing he could to until the jurisdictional challenge was ruled on. You could have just as easily been a no show and he would have continued the matter.

Did you also notice the judge opening the door to the gallows, giving you an opportunity to hang yourself. You did the right thing by not accepting his offer.

Drive home the point that the DC has no standing, is not the real party in interest and its only rights accrue to collection only. Do not answer any questions because this is how they will get you to incriminate yourself. Ask the questions. It is the DC's turn to answer. This is a mini trial within a larger one, only you are the plaintiff this time. So you must prepare and act like one.

gldskr

Libertarian · #9 08-14-2007, 03:47 PM

Quote:

Did you notice that the judge made a tentative ruling and not an actual ruling? Because of your MTD there was nothing he could to until the jurisdictional challenge was ruled on. You could have just as easily been a no show and he would have continued the matter.

No, a "tentative ruling" is a California procedure-- the judge reads the papers and issues a tentaive ruling the day before the hearing. If you don't show up, it automatically becomes the final ruling. if you do show up, you have the chance to talk the judge into changing his mind.

PANICPASS · #10 08-14-2007, 06:16 PM

Tentative rulings are always made in state courts in lieu of an actual hearing unless you've asked for oral argument. If you don't agree with the tentative ruling you can object with a motion for reconsideration.

Sorry to say, but I am afraid the plaintiff is right: most pro pers don't know what they are doing and they lose. It's an unfair game, and it shouldn't be that way, but it is. Either hire an attorney or file motions that are competitive with the attorney's motion.