Newbie - CCA threatening to sue

[cardiac]

Hi and thanks for your help in advance.

Just got a call from a collection agency this morn. I did return the call ......

They stated on my machine that they would be filing in my county and to call them ASAP.

I did return the call.

They offered to settle for $7500 ...... which I would if I had a money tree to simply just go pick cash from.

They offered 3 payments. I could probably almost swing this but that would almost make me homeless.

I asked for some documentation to read over the payment arrangements they could offer..... the CCA women said either take the 3 payment arrangement or we will sue. I explained I cannot afford that much in just 3 payments.... she said "fine we will just sue you then" hung up.

10 minutes later "Steve" left a message - same CCA asking to call him back. I did not......

Advice on how to handle this.... I am in SC they cannot garnish my wages... I own a home ( with the bank). I have been paying off my debts and CCA's one at a time. Hit some hard times almost lost my house.... getting back on my feet at the moment and trying to do the right thing....

Then this nasty woman called..... what is the worst they can do if they take me to court?

And they refused documentation... stated they don't have to send any letters or statements about the debt or document any payment arrangements.

Is that legal?

This could be a farce and someone attempting to get my bank info for all I know..... how do I know who they really are?

[treehugger1]

I'll offer my best guess here.

If SC is not a wage garnishment state, then they can't go after wages. You are okay there.

They might (probably will) get a bank levy.

They can get a lien on your home.

All of the above generally first require a suit and judgment prior to any action being taken. I say generally, as I have heard that there are some states that allow for "pre-judgment" actions. I think most of this has to do with businesses and individuals who have a lot of money and might try to protect the assets prior to judgment.

You are obviously beyond the 30 day response time to request validation of debt under the FDCPA. However, you still have the right to ask for validation should you go to court. You might try asking for validation and verfication of the debt anyway. This would at least let the other party know that you might put up a fight. Would they back off? That is hard to say.

It could be that the only assets you have that are easily attached are bank accounts. Protect yourself in that situation.

The following might offer some insight into SC exemptions. Many times assets exempt from seizure are similar to the BK exemptions for you state. Note that the housing exemption is not very large for SC. It also appears that only $1200 of equity in an automobile is exempt.

http://www.bcsalliance.com/debt1_southcarolina.html

[jp2861]

They have to send you something writing. Without some sort of documentation there's no way to know when the 30 day clock starts for validation. The letter should also advise you of your rights to validation. Once you get the letter immediately send them a DV letter. Do a google search, there are a ton of them floating around.

If they don't send a letter you use this fact when answering your summons. Know your rights!

Start reading up on how the process works. There's a lot of little quirks from state to state. If you plan on doing this without a lawyer you'll need to know what's going to happen next.

Worse case scenario is they put a lien on your house. But, based on the fact that they don't want to do anything in writing I'm betting they don't have anything to back up the debt. Play the game and they may back off.

[cardiac]

So worst case scenario I get a lien on the house....

what does that entail? excuse my ignorance - I have been googling my fingers to the bone on this for hours.

BK doesn't look like the way to go because there is no way I can keep my house and pay off the debt right now.

I believe the debts are running up to the SOL point so they are threatening to sue.

I have cut the bank acct. to almost a zero balance. Working on a cash basis to pay bills at this time.

[HHM]

A lien means that if you go to sell your house, before you an pass clear title to the buyer, you must satisfy (pay) the lien.

[jp2861]

Oh, and don't talk to these clowns anymore. If it was me, I would make one call to them for two reasons. One being to verify my address with them. You want to make sure that the last known address they have is your current address. Second reason is to tell them that you want everything done in writing. Back up your call with a letter the same day, certified mail.

[cardiac]

Again thanks......
I could care less if they stack 10 liens on this house..... I will die here, no plans to sell or move.

So that doesn't bother me. I am guessing you can pay them off and have them removed.

About this bank levy..... how long does that go on for?

I have $300 in my acct at the moment.... how long do I have to keep stuffing the money under my mattress so I can pay my mort and utilities?

[HHM]

Assuming they get a judgment against you, then can periodically hit your bank account indefinitely until the amount they are owed is satisfied.

[cardiac]

thanks for the info.

I am laughing right now because the original balance was $4,000 and they just nailed on the 31.4% interest....

So now I owe $11,000 LMAO!

Best get a new career as a crack dealer to pay them off.

I could certainly pay them the original amount in payments.... but no way $11,000 in 3 payments..... that is hilarious!

Sue me...... I got one turnip and $300.00

Won't get much more when I am living under a bridge or jump off the bridge.

For cripes sake I just got the house out of foreclosure... now this crap.

I never have gotten a letter or a call from these people.... just went through every piece of paper here..... nothing.

I might just start making random phone calls to people telling them I will sue them unless they pay a debt I say they owe.... might work..... I might be out of debt by Friday.

excuse my rantings.

[jp2861]

Thats one of the problems of defaulting on a loan or cc when you have a house as an asset. At those interest rates they'll own your house if you continue to ignore the problem.