Discover payment due today and I'm not

[SandyShores]

The thing about the buyers of sold debt is that it may not be the case that the JDB received much information about the account itself. This is why consumer attorneys will often fight a JDB for documentation. There is a chance that the JDB only received and account number, amount owed, and some addresses. If a debtor was sued and attempted to answer the suit, the JDB might have a tough time coming up with information.

Thanks. I did some research and found what you said to be quite true. There are even sample letters to send them asking for "media" to validate the debt including the original credit card agreement which they often times can't produce. Like you said they may have a tough time coming up with more than the account number etc. but that doesn't mean, I found, that if they sue you they won't win. Depends on the judge I guess.

Thanks

SandyShores

[treehugger1]

Junk Debt Buyer - If a original creditor (OC) decides to sell your debt rather than simply assign the debt for collections, then the OC probably packages the debts they intend to sell and market the debts as a package. Once the JDB owns the debt, the OC should probably report a $0 balance to your credit report. If you know the debt was sold and the OC still reports a balance, then this is an easy dispute.

The thing about the buyers of sold debt is that it may not be the case that the JDB received much information about the account itself. This is why consumer attorneys will often fight a JDB for documentation. There is a chance that the JDB only received and account number, amount owed, and some addresses. If a debtor was sued and attempted to answer the suit, the JDB might have a tough time coming up with information.

[Naomi]

Junk Debt Buyer?
I think after the CA's stop trying to get the money, they sell the account to these JDB's or something like that.

[SandyShores]

Tree-What does JDB stand for?

SandyShores

[SandyShores]

They must work at the call center that's close to my town. I've seen some of what they hire and it's amazing. When people talk to me with the ghetto-crap, I just tell them that I can't understand what they're saying.

Drives 'em nuts!

LOL I'm sure it does-drive them nuts.

I saw a couple videos on youtube of call centers in action. One was produced by the credit card industry itself so of course all their call center employees looked and talked professionally. But there were a few done on the sly and the employees were not so well dressed, spent most of their time on smoke breaks and/or pigging out on junk food when not brow beating people on the other end of the phone. One was actually an expose about an ex-felon who ran a shady New Jersey collection agency. They literally caught his employees impersonating both cops and lawyers on the phone. Naturally they threw the reporter out but not before they got some prime footage. Wish I could remember the url.

In any event, Naomi, I was the same way. Cross each bridge as you come to it. I agree the board has been a God-send.

Kroger is a big corporation that has diversified over the years and branched out into the banking industry-i.e., not just a grocery store chain anymore. Sears did that about twenty four years ago but ended up getting out of the banking business. I had a bank account with them sometime around 1984.

SandyShores

[treehugger1]

It was a two-step process for me. First, I had to deal with the original creditors. That was stressful and I let them talk me into all kinds of reduced interest/payment programs. That eventually failed and I finally told them I wasn't going to pay them anything "at this time." I posted many times that I did work with local creditors (encouraged them to sue me in small claims.) I think I am now down to 9-10 accounts and they have all charged off.

The second step was learnign how to deal, or not deal, with the collection agencies and collection attorney firms. This seemed easier than the OC's. When they would call, I would ask for something to be sent to me in writing. I'd then send a debt validation letter and tell them it was not convenient for me to receive telephone calls at any time. In general, I would never hear from them again and the account would get sent to a new CA. As far as I know only one account of mine has actually been sold to a JDB. The rest bounce from one account to another. After over two years of this, I'm not too flustered any longer LOL.

The only process i have yet to go through is a non-small claims suit. I imagine it is only a matter of time, but then again, who knows? Maybe it is not worth going after a non-asset debtor.

In the next 60 - 90 days, I'm hoping for a 15% wage garnishment against my student loans. At that point, I'll only have 10% available for other creditor's to garnish. I also owe taxes and have began to discuss a 10% garnishment with the tax folks. If this works out, then the other creditors will need to wait a long, long, long time before they can garnish based on any judgments they receive.

The phone calls will eventually cycle through as the debts move from one account to another.

You will notice that many folks who have defaulted for quite some time don't get that many calls after a year or so. I'm guessing that for some of my accounts the debts are in debt packages waiting to be sold. However, in these tough economic times, the OLD debt purchasing business might be suffering.

[frogger]

They both employ some fairly rude women who sound like uneducated crack-hoes who can't even pronounce the simplest words correctly and start talking ghetto-crap when they can't get you to commit to making a payment.

SandyShores

They must work at the call center that's close to my town. I've seen some of what they hire and it's amazing. When people talk to me with the ghetto-crap, I just tell them that I can't understand what they're saying.

Drives 'em nuts!

[Naomi]

Ohiofiler, I'm trying to get to that mind set of the calls aren't really a big deal.
Finding this message board has made a huge difference in how I think of this whole thing.

I just want to start over. Just want my clean start and to never be in this position again.
I've learned what not to do...

[OhioFiler]

Many large grocery chains are issuing credit cards these days. It's just a cc through a bank with the Kroger logo on it.

The calls aren't that big a deal. Many folks dread them like the plague. I found them more often than not entertaining. It's all about your mindset while dealing with them. Remember, these collectors are just people doing a 9-5 job. They don't really care whether you pay or not. They only care about following a script and getting a paycheck on Friday.

[Naomi]

Macys and Kroger have been the "meanest." They both employ some fairly rude women who sound like uneducated crack-hoes who can't even pronounce the simplest words correctly and start talking ghetto-crap when they can't get you to commit to making a payment.
SandyShores

Wow. I shouldn't laugh, but it is kind of funny. Thanks for sharing!

I don't know how I'm going to deal with the calls. With Discover, there's not much they can do to me so I might as well talk to them, but I don't want to. We'll see...
Sears - Citicard I think- is my only other credit card and it's in my name only. Oh wait, I have a Home Depot card too.

My biggest issue that I can't stop stressing about is USAA. We have just about everything with them - including a $16,000 credit card
Not paying that is going to cause some problems.
I will still need to pay them the mortgage, heloc, truck loan, and car insurance.

SS, what is a Kroger's card? Isn't that a grocery store?

[SandyShores]

going to make the payment...
Will be my first time ever missing a payment since I've had credit, but oh well.
BK is pretty much a definite at this point so I know from everything I've learned here that it's pointless to keep making the payments (and I don't have the $$$ anyway).
Hope to be able to file in the next 6 months or less.

The card is in my name only and is maxed out, but I haven't used it since Apr. Did a balance transfer of $1500. Made May, Jun, Jul, and Aug payments.

Wonder how long it will take for the calls to start?

Like you I have a flawless credit history-for over 34 years. And, like you I decided to stop paying creditors and prepare to file bk but only when and if I get sued and maybe not even then if I am still collection proof.

Anyway, I have two Discover cards. My first missed payments were Aug 11th & 12th and I got my first call on August 19th. They haven't given me a hard time-so far and I did a couple semi-large cash advances last fall and winter. They call maybe once a week for both cards. Made at least six min payments though afterward. Hope this helps.

Macys and Kroger have been the "meanest." They both employ some fairly rude women who sound like uneducated crack-hoes who can't even pronounce the simplest words correctly and start talking ghetto-crap when they can't get you to commit to making a payment.

I got a repeat call from a Kroger rep yesterday who is a real gem. She got all pissey because I told her it was none of her business how I was paying or not paying any of other bills on no income while waiting to see if I could get unemployment. The woman went psycho on me saying "You racked up all this debt so it does give me the right to be askin' ya hows you be paying youse other creditors." Nice grammer huh: This woman sure likes the helping verb "be." Anyway, I told her she "be wrong" and the only thing she "be needin' to worry about was how I be payin' or not be payin' Krogers."

She put her super on then and the super tried, naturally, to defend this whack-job but to no avail. Her retaliation for not being able to manipulate me into making a payment was to tell me they would "be callin' me every three days."

WhooHoo! Like so what. The last Kroger rep, a more reasonable lady, said they would eventually charge it off and send it to either a CA or lawyer for collection. Make up your mind already. Just, be prepared for all kind of game playing. I don't commit to anything and always take their calls and always talk pleasantly and unemotionally. That's been working fine so far. Some creditors are actually apologetic and promise to keep the calls to a minimum once the hear my story. A few like Macys and Krogers will not be so nice but stay calm and stick to your guns. What can they do anyway except sue you and if you have nothing to take who cares.

On another more important note-Cat is right-move your bank account. I did that before I even missed my first payment to any creditor thanks to the sage advice of Cat and BB4U. I have kept current with two gas cards and one bank card (for emergencies) but pay them with money orders so that they don't know where I bank now.

Good Luck!

SandyShores

[Naomi]

My balance is $6540 something. The limit is $6900.
Like I said earlier, the card is in my name only. And I'm not working right now so not too worried about garnishments or getting sued.
Not sure what else they could even get from me?
My only asset is my car which is paid for, but the KBB is only about $4000.
And it's both my name and my husband's.

[albacore44]

I got 1 discover card with a $5k balance. dont think i've received one call from them. A few letters, but thats it.

[Naomi]

No, I have not changed banks and I really should have already. Especially since I've been a member here a few months and have "heard"/read it a million times about switching banks.
There is a check still pending deposit so I don't know if I can close the account today because of that.
I guess the banks are open today?
I know they will be closed on Mon because of the holiday.
On Tuesday I will try to get everything figured out.

Maybe Discover will give me a few days before they start with the calls and everything. Are they known to try and pull money out of accounts?
I can't delete my banking info on their site.

[catleg]

Oh they'll probably call tomorrow, but in the beginning you can shine them on for a while and they'll call every 5-7 days just to remind you. Have you taken steps to protect your bank accounts i.e. started with a new bank?