03-23-2006, 12:28 PM
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Waking Up
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Join Date: Mar 2006
Posts: 8
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Old debt help needed
I have had some major financial hardships and set backs over the last few years. During this time, I had a vehicle repossessed (about two years ago) that was financed through Ford Credit.
Last week I was contacted by someone from an attorney's office saying they represent Ford Credit. This person said the vehicle was sold at auction, but even after the sale I still owe $3,200. They would accept an immediate payment settlement of $1,600, which, of course, I do not have.
This guy said they are taking action against me if I don't settle with them tomorrow, which will include court costs.
Is there anything I can do to stop this?
Last edited by texzap : 03-23-2006 at 06:34 PM.
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03-23-2006, 07:27 PM
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Banned User
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Join Date: Feb 2005
Posts: 2,117
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Quote:
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Originally Posted by texzap
I have had some major financial hardships and set backs over the last few years. During this time, I had a vehicle repossessed (about two years ago) that was financed through Ford Credit.
Last week I was contacted by someone from an attorney's office saying they represent Ford Credit. This person said the vehicle was sold at auction, but even after the sale I still owe $3,200. They would accept an immediate payment settlement of $1,600, which, of course, I do not have.
This guy said they are taking action against me if I don't settle with them tomorrow, which will include court costs.
Is there anything I can do to stop this?
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do not respond via telephone.
demand written communication and start studying here how to respond in kind!
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I claim ownership of and accept responsibility for every word I have written; I cannot claim ownership for any quotes I have made, being the words of whomever I quoted, to whom I say `thank you'.
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03-23-2006, 08:44 PM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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Quote:
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Originally Posted by texzap
I have had some major financial hardships and set backs over the last few years. During this time, I had a vehicle repossessed (about two years ago) that was financed through Ford Credit.
Last week I was contacted by someone from an attorney's office saying they represent Ford Credit. This person said the vehicle was sold at auction, but even after the sale I still owe $3,200. They would accept an immediate payment settlement of $1,600, which, of course, I do not have.
This guy said they are taking action against me if I don't settle with them tomorrow, which will include court costs.
Is there anything I can do to stop this?
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Don't let them scare you. Relax $1600.00 dollars is not much, the way I see it, you can work it out in your own term.
They need kudos, and I believe probably they might even consider lesser payment to settle the debt.
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Resolution pending
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03-24-2006, 04:27 PM
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Waking Up
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Join Date: Mar 2006
Posts: 8
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Thanks for the replies. I have been trying to research and gather info here. Are there any threads you can recommend?
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03-24-2006, 04:44 PM
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Mental Jujitsu
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Join Date: Jun 2005
Posts: 901
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Quote:
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Originally Posted by texzap
Thanks for the replies. I have been trying to research and gather info here. Are there any threads you can recommend?
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http://www.creditinfocenter.com (the forums). There you'll find people in similar situations.
The above advice to stay off the phone is your first order of business. |
03-24-2006, 05:24 PM
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Unplugged
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Join Date: Oct 2004
Posts: 78
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Ford credit
Do you have a CONTRACT with said debt collector: chances are NO
you could red ink the commercial offer as " I hereby refuse your offer of contract and mail it back to them, keeping copy for yourself. Any Commercial Presement you get refuse it and send it back.
The Lawer is a debt collector lawyer, he has no authority over you until he is in court and must have his bar # on him.
Fire him.
Charlene
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03-24-2006, 05:27 PM
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Banned User
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Join Date: Feb 2005
Posts: 2,117
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Quote:
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Originally Posted by Judge Roy Bean
http://www.creditinfocenter.com (the forums). There you'll find people in similar situations.
The above advice to stay off the phone is your first order of business.
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did the Bean just agree with me?
__________________
I claim ownership of and accept responsibility for every word I have written; I cannot claim ownership for any quotes I have made, being the words of whomever I quoted, to whom I say `thank you'.
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03-24-2006, 06:36 PM
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How old is the Debt? If the debt is out of SOL then they have no ground to sue you for the debt.
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03-24-2006, 08:01 PM
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Come and Get Some!
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Join Date: Oct 2004
Location: Illinois(chi-town)
Posts: 5,076
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Quote:
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Originally Posted by texzap
Thanks for the replies. I have been trying to research and gather info here. Are there any threads you can recommend?
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check members download section, title "Education and Learning", under Banks,Collectors, and CRA.
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Resolution pending
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03-24-2006, 11:48 PM
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Come and Get Some!
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Join Date: May 2005
Location: Water Wonderland
Posts: 1,185
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Allot of the time the finks will "re-age" the debt before the experation date rolls around and thats how they can keep coming after people. Obviuosly the older the debt the more often it has "changed hands" causing it to be less valuable with each succeding sale. but that wont stop them from trying to steal whatever they can. Go to your local law library and find out what the statutes of time are in your state. Is there even grounds to bring suit? Dismissal Motion for Lack of Subject Matter Jurisdiction may be worth investigating if it moves to suit?
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