What to do after C&D and DV letters?

[sleeplessinohio]

Hello all,

Happy New Year(?)!

I've sent some cease and desist letters that also ask for debt validation. (AND, I just learned today not to sign them!!!) The results are mixed.

Wells Fargo sent back a summary of the account and several months of statements. GE Money did the same.

We still need to wait several more months before filing. I'm hoping we can make it until June without a suit against us.

I'm just wondering if I need to do anything else to follow up after the OC or CA has responded to these letters. They aren't asking for anything. I just want to make sure I haven't missed something crucial.

Thanks for your advice. It's appreciated.

sleepless in ohio

[treehugger1]

There probably is not much more you can do but pay attention to the future. In my opinion, I don't think that OC's that are national companies will move directly to suit. My experience is that they are likely to send accounts to CA's and then you will need to submit more DV's when you receive dunning letters.

I have a sense that there is a local legal firm that will move toward suit against me in the next 120 days. They sent me a letter acknowledging my request for DV and C&D, and stated that any actions in their office will cease until they have furnished me with verification. The debts are from a large national CC and I think this particular CC company has their hands full with lots of other defaulted unsecured debt. I expect they will eventually get around to furnishing the legal firm with information, and I will be served. At that point, I will probbaly contact the legal firm and ask what they have to offer in terms of a 60 month pay-off settlement. I am still not ready to file a BK 13 (after 2+ years,) but it sounds as if you folks are close. June could be pushing it.

If you are served, and you know you will file, you might get an attorney on board to help fend things off for 3 - 6 months. The downside is that there could be extra legal costs involved.

[magyar123]

And in the meantime close your bank accounts to avoid any default judgments which might include freezing your bank account, or unauthorized withdrawals. If your pay gets automatically deposied get your employer to issue you paper checks and cash them.