[NewDetermination]

Today I was serverd a civil summons on a debt from long ago and I have to write a defense within 20 days and I am totally out of my league.

I bought a computer from Dell back in 2002, my wife and I ran into some financial problems and we let the bill goto collections. I cannot find the last date the account was current as my credit report doesn't show it. The only information on it is the date opened and a couple additional entries where they sold it. Is there any other way to find the date out as I see alot of different posts talking about SOL?

Also, what type of response do I want to send to the court? I look forward to hear from anyone that has seen/experienced a similar issues or can give this non-legal eagle a bit of advice.


I have the documents scanned on the internet but cannot post URL's yet so I cannot put them on here.

Thanks in advance,
New

[roybean]

Did you ever get any collection notices (just wondering)?

And if this is your first encounter with court.....20 days is not very long to learn this stuff....

Without posting any personal info, what does the complaint say and how was it served?

[NewDetermination]

Not from this company that I remember. The summons was served by our local sherrif to me personally. If you would like to see the claim papers(sans personal info) I have them in a photobucket account. you can find them here.

http:// i277.photobucket.com/albums/kk71/evermanlegal/Page1Summons.jpg
http:// i277.photobucket.com/albums/kk71/evermanlegal/Page2Summons.jpg
http:// i277.photobucket.com/albums/kk71/evermanlegal/Page3Summons.jpg
http:// i277.photobucket.com/albums/kk71/evermanlegal/Page4Summons.jpg



the links will work you just have to remove the space between http:// and i277.

[jlynn]

What kind of credit report are you looking at? Get one straight from the bureaus if you don't have one. Much more info, and will likely answer your questions.

[NewDetermination]

I'm looking at the Equifax 3 in 1 credit report that has all 3 bureaus. Below is the only information it shows regarding this particular account.

CIT BANK/DFS
Equifax Experian TransUnion
Not Reported Not Reported Reported
Account Type: Revolving
Account Number: XXXXXXXXXXXXXX
Payment Responsibility: Individual
Date Opened: 06/2002
Balance Date: 09/2006
Balance Amount: $0
Monthly Payment:
High/Limit: $2,068
Account Status: Collection
Past Due Amount: $0
Comments: PURCHASED BY ANOTHER LENDER

CIT BANK/DFS
ONE DELL WAY
ROUND ROCK, TX 78682
(800) 283-2210
24-Month Payment History
No 24-Month Payment Data available for display.
Seven-Year Payment History
Equifax Experian TransUnion
30 Days Past Due: 0
60 Days Past Due: 0
90 Days Past Due: 0







__________________________________________________ ________

PARAGONWAY
Equifax Experian TransUnion
Not Reported Not Reported Reported
Account Type: Open
Account Number: XXXXXXXXXXXXXXXX
Payment Responsibility: Individual
Date Opened: 06/2006
Balance Date: 06/2007
Balance Amount: $2,068
Monthly Payment:
High/Limit: $2,068
Account Status: Collection
Past Due Amount: $2,068
Comments: ORIGINAL CREDITOR: 12 CIT BANK COLLECTION ACCOUNT

PARAGONWAY
2101 WEST BEN WHIT
AUSTIN, TX 78704
(888) 570-5007
24-Month Payment History
No 24-Month Payment Data available for display.
Seven-Year Payment History
Equifax Experian TransUnion
30 Days Past Due: 0
60 Days Past Due: 0
90 Days Past Due: 0



Do you think the TransUnion one will have more information?

[Hedwig]

The individual ones from each bureau have more information than the three-in-one. You should order copies of your reports directly from each of the three bureaus and you may get a lot more insight.

[jlynn]

Definitely not enough info from the trimerge. We can only tell it went delinquent sometime before 9/06. It is an important date if you want to claim the SOL defense. You can go to annualcreditreport.com and get all 3, from the individual bureaus for free.

[NewDetermination]

I went and got the Trans Union report because that was the only bureau that it was reported to and there is no additional information in that report either.

More about CIT BANK/DFS Close window
Remarks:
[TransUnion] Charged off as bad debt
Purchased by another lender
[Experian]
[Equifax]

TransUnion Experian Equifax
Past Due: $0
High Balance: $2068
Terms:
Limit:
Payment:
Opened: 06/03/2002
Reported: 09/29/2006
Responsibility: Individual





Late Payments (last 7 years):
TransUnion Experian Equifax
days late:
days late:
days late:

[Hedwig]

Where did you get the report? Directly from TU?

[NewDetermination]

Yes

[NewDetermination]

I don't care to make payment arrangements with the company, I just want to keep this from going on my credit report as a descision. I've been trying my best to get things straight for a while now and this would totally mess me over. But the thing I keep reading is even times when people make deals with the company they still go ahead with the suit behind your back just to get the default descision.

[NewDetermination]

I received something in the mail today about a settlement with this company. They would like me to pay 60% of the total(initial debt + court cost + 12% interest). Should I take this offer while I can or try to counteroffer? Also, if I do take this settlement agreement what happens to the summons and my reply to it?

[Enigma]

Are your assets, ie pay check, bank accounts, etc. exempt from seizure under KY law?

[NewDetermination]

I don't believe so. A friend of mine is currently getting his wages garnished from a suit.

[Enigma]

If my understanding of KY law is correct, a judgment creditor can garnish up to 25% of your weekly wages. The judgment interest rate is 12%, while the legal rate is 8%.

It appears that the SOL is 15 years.

You have a couple of options as I see it: 1) take the offer but ask for the rate to be reduced to 8% since the debt has not been reduced to a judgment, 2) file bankruptcy, 3) retain counsel to fight it, 4) do nothing.

If you go with option 1, I would still file an answer to ensure that a default judgment is not entered against you.

By accepting Plaintiff's offer, you keep a judgment off your credit reports.

[NewDetermination]

Right, this is what I was thinking. I plan on accepting the offer and trying for the 8% interest rate. About the answer to the judgement. What should it say? I have never been envolved in any type of court situation and basically am a newbie when it comes to these things. Should I say that I have entered into a settlement with the creditor?

Also, should I have the people I'm dealing with fax me a written copy of the agreement we come to that has been notorized to attach with the reply?


Oh and Thank you all so much, this forum has been a great deal of help to me in this and I'm sure it will be a great deal more when I get to start repairing the rest of my credit history.

[Enigma]

Tell them that before you accept their offer, you want to review the terms. Have them fax you the terms.