Hello All...Need a little help

kelly9190 · 06-24-2008, 10:34 PM

Hello everyone,

Need a little advice...I got a letter today from Portfolio Recovery about a credit card that is 4 or 5 years old. They state that if I do not pay the debt they may hire local counsel in my state (which is Ohio) and I have until 7/20/2008 to pay it off or make payment arrangements to avoid potential legal action. I do no have the money and I don't know what to do. I don't want to get sued. Will they really sue me and where should I go from here. Should I call and talk to them? Please help!!!!

jlynn · 06-24-2008, 10:51 PM

Quote:

Originally Posted by kelly9190

I got a letter today from Portfolio Recovery

Quote:

I have until 7/20/2008 to pay it off or make payment arrangements to avoid potential legal action.

Overshadowing...

Was this the first letter you received from them?

Hedwig · 06-24-2008, 10:57 PM

I'm moving this thread to the credit forum, where it will get more visibility.

kelly9190 · 06-25-2008, 11:19 AM

Yes this is the first letter that I have received from them...I recieved one from NCO and I asked for validation of the debt and the next thing I know is this company is contacting me...

greedyngreen · 07-05-2008, 07:04 PM

First, find the statute of limitations for Open Accounts in your state. It usually varies from 4-6 years. The clock for SOL starts ticking from the time of your last payment to the original creditor. If you're beyond the SOL, then you have absolutely nothing to worry about because the window for legal action has passed. I would take all of their calls and keep them on the phone for as long as possible just to waste their time. Never admit to the debt and you can jibber jabber making them pay for the phone call everytime! I would talk to them about your pets, the nice weather, and when they get pushy asking for how much you have in your bank, etc...just drag it out for as long as possible. Try to get personal with the caller so they get pissed off. If you successfully piss them off, you get 2 brownie points.

If you're NOT outside the SOL window, send the debt validation letter immediately then just sit tight and wait for a summons (most will never actually sue). If you get a summons, just go to the courthouse and file a general denail. Stating something as simple as "I have no knowledge to confirm the veracity of this allegation" is sufficient for every point they supposedly make on the complaint. You can continue to fight every step of the way forcing them to proove that you owe the debt which runs their bills and at every step, provides another opportunity for you to either pick their case apart (ie. they don't even have the original contract), or drag the case out for months with a possibility that they don't show up to one of the hearings, etc. in which case you win. There's an art to fighting a case if they try but you can find all the info you need online if you get to the right places. NO LINKS PLEASE is an excellent resource, but I think the website is having some issues right now.

Pale Rider · 07-05-2008, 08:07 PM

This site would be a much better resource, and the OP should stay right here rather than provoke a lawsuit and answer with a general denial as suggested above.

spinn · 07-05-2008, 10:12 PM

Quote:

Originally Posted by greedyngreen

but you can find all the info you need online if you get to the right places. OTHER SITE.com is an excellent resource, but I think the website is having some issues right now.

Perhaps the techies at OTHER SITE are busy talking to debt collectors about their cat?

Enigma · 07-05-2008, 10:52 PM

Quote:

Originally Posted by greedyngreen

First, find the statute of limitations for Open Accounts in your state. It usually varies from 4-6 years. The clock for SOL starts ticking from the time of your last payment to the original creditor. If you're beyond the SOL, then you have absolutely nothing to worry about because the window for legal action has passed. I would take all of their calls and keep them on the phone for as long as possible just to waste their time. Never admit to the debt and you can jibber jabber making them pay for the phone call everytime! I would talk to them about your pets, the nice weather, and when they get pushy asking for how much you have in your bank, etc...just drag it out for as long as possible. Try to get personal with the caller so they get pissed off. If you successfully piss them off, you get 2 brownie points.

If you're NOT outside the SOL window, send the debt validation letter immediately then just sit tight and wait for a summons (most will never actually sue). If you get a summons, just go to the courthouse and file a general denail. Stating something as simple as "I have no knowledge to confirm the veracity of this allegation" is sufficient for every point they supposedly make on the complaint. You can continue to fight every step of the way forcing them to proove that you owe the debt which runs their bills and at every step, provides another opportunity for you to either pick their case apart (ie. they don't even have the original contract), or drag the case out for months with a possibility that they don't show up to one of the hearings, etc. in which case you win. There's an art to fighting a case if they try but you can find all the info you need online if you get to the right places. OTHER SITE.com is an excellent resource, but I think the website is having some issues right now.

And opposing counsel file Motion for Summary Judgment on the pleadings.

Your advice is not sound and is downright dangerous.

Your accretion that DB is an excellent resource is VERY debatable and in my opinion not backed up by facts.

Lucy · 07-06-2008, 07:48 AM

Quote:

Originally Posted by greedyngreen

OTHER SITE.com is an excellent resource, but I think the website is having some issues right now.

Excellent resource???? Having some issues right now???? That's a good one.

If the OP is still around and still needing advice find out what your state statutue of limitations is first then go from there.

centex · 07-06-2008, 08:39 AM

I find it interesting that a one-post wonder materializes and instantly is touting another board and pointing the OP over there...

But, that notwithstanding, the first thing OP needs to be doing is gathering all of their records so that they can determine WHEN the account went delinquent and did not recover. They also, though those records, need to determine what APR was in effect at the time that the delinquency occurred and what dollar amount of a balance existed. They also need to get copies of their credit reports to determine whether what is being reported matches their retained records.

The other thing to be determined from the report is whether Portfolio has reported yet. If they have not and this was the first communication from them, then a dispute *may* serve to foreclose that possibility in the interim period.

Where OP is really screwed here is that they live in Ohio, which from reading boards that remain up and running and have much larger populations, a State that appears to be a less-than-friendly locale for consumers with defaulted debt.

OP needs to be careful in a couple of areas here. Yes, it is possible to get sued. Both original creditors and third-party entities are litigating on a more frequent basis in the current financial climate. They know that as things get tighter, it becomes more likely that the consumer in debt is going to play ostrich and not bother to respond to the suit, which means an easy default judgment. At some point in the next decade or so, that consumer is likely to have SOME money that can be attached or they may decide to purchase a house, in which case the judgment will need to be paid off...meanwhile the interest kept racking up on the award plus attorney fees. That judgment then becomes akin to finding a long lost savings bond right before it matured...

The other thing OP needs to be careful of is who and where they get their guidance from. There are sites out there that are notorious for giving horrifically bad advice. Some of those sites have gone out of their way to refuse access to members of the Bar. There are sites where people will blindly answer in a specific manner without knowing the first thing about civil procedure, much less civil procedure in the State from which an OP is a resident. There are 50 States, and all of them have their own peculiarity when it comes to procedure. Even within a State, there may be differences from one side to the other...