Do you want to know how you need to settle your debt?

[Terry Wills]

From one of my favorite James Bond movie I learn that, never show your enemy that you are bleeding and always have a escape plan. What I am trying to say is, don’t let your creditor know that you are broke. I know, you think what on earth am I saying? The best thing for you to do is to keep in your own control. That way they won’t be able to think otherwise. Moreover answer all their phone calls.

Now comes your part of the job. Think what you can do by keeping faith between the creditor and you. There is always an option open for you. There are many efficient debt settling financial professionals who are happens to be around you. So keep an eye for them. Try to find out the best debt settling company by looking at their options.

Whatever happens, remain calm and you will find a way to get rid of this problem. You do not need to sweet yourself.

[Qtip]

I think each individual case is different and this advice would not apply to everyone.

[Buddy]

That is true. We tried to work with citi and they would not work with us period. We had never been late on a payment and paid more than the min. payment, but one month we were $33.00 short due to my mom-in-laws life insurance being due. They went up to the default rate and most of our other cards (which we were never late or short on) went into universal default. They were like vulgars calling our house day and night sometimes 3 and 4 times a day. But there was no way we could make those payments, one card went from 100.00 a month to almost 800.00 a month that was citi. One day I had just picked my husband up from the hospital and we had been home maybe an hour and the phone rang and they ask for my husband by his first name, so I thought it was a friend. I gave him the phone and it was one of their goons. My husband kept telling them to lower the interest rate and we could make the payments, they wouldn't do it. They chose to call him a dead beat instead and make him feel like he was lower than low. From that day forward, I never took another call from them again. My husband got so upset that day I thought he was going to end up back in the hospital. We had every intention of paying those debts and would have done so if they had made it possible but today after what they have put us though. I think its them that owes us an apology as well as every other consumer they have cheated and mistreated.

[rescue me]

Hi Terry, Mr. Cuomo of N.Y. has opened a nationwide investigation of debt settlement companies, and N.Y. has outlawed them completely, as well as other states. I was wondering if you would be more specific.

Buddy, I haven't read the fdcpa in a while, but something reminds me of no more than three contacts in a week. Perhaps it was a certain state, but anything perceived by the hearer as offensive should be a violation. You didn't specify if those were contacts. The three, four calls a day.

[Enigma]

The FDCPA is silent on what is meant by harassment and frequency. In FL, I believe that it is out of the 4th DCA, Sears (pre-Citi buyout) was found liable for harassing a debtor. Sears call nine times in one day.

[rescue me]

language the natural consequence of which is to abuse the hearer or reader.

This is what I found on our site. I recall it being worded differently, i.e. any thing that the hearer perceives as harassment. Even worded as above, it has the same connotation. I had it, can't find it, will take some of my most valuable asset in the whole world to find it,,,,,,,,,,,,,,that asset is time. My perception was based on how it was worded a few years back, unless that wording has been changed.

[rescue me]

I think sometimes debtors should check state laws, which will overide FDCPA. While cruising for contacts allowed, and don't know why that is stuck in my head from "the old days", when I was a young man (pun intended), I came across the state of Washington which indicates only three calls in a week allowed, never mind contacts.

Yes FDCPA weak on contacts and calls allowed. I remember many apologies when that dialer hit someone a co-worker had called that morning.

Really sad, and they said we were bad in the seventies? We were Angels, with TuTus, compared to the vultures of today.

[Enigma]

Quote:

Originally Posted by rescue me I think sometimes debtors should check state laws, which will overide FDCPA. While cruising for contacts allowed, and don't know why that is stuck in my head from "the old days", when I was a young man (pun intended), I came across the state of Washington which indicates only three calls in a week allowed, never mind contacts. Yes FDCPA weak on contacts and calls allowed. I remember many apologies when that dialer hit someone a co-worker had called that morning. Really sad, and they said we were bad in the seventies? We were Angels, with TuTus, compared to the vultures of today.

The only time State law will over ride the FDCPA is when the State law is tougher than the FDCPA.

[Buddy]

I wish I had known about this site earlier. At first he answered every call. When he saw their number on the caller ID he answered, just hoping that maybe someone would be able to get the interest back down, but they refused. They did not want to hear why he couldn't make the payments, they just wanted their money. It got so bad that I started getting the phone. I told them that unless they had changed their stand on the interest there wasn't any need for them to talk to him, they started their mess with me, I hang up. It got so bad we stopped taking their calls all together. June the 15th they got a judgement against us, the judge wouldn't even hear what my husband had to say. He tried to represent himself. Is it to late to do anything to get this judgement off and can we use this. All I had was notes and we did have a couple of tapes, but we are not even sure if we have them now. We had a fire and some of our records were destroyed. I'm not sure if this stuff was among it or not. I wanted my Mom and some others to hear what Citi considered ethical business practices. It got so bad we finally had the phone disconnected.

As for debt relief companies, we got taken by one of those also. So you do have to be careful. This company that we went though actually made matters worse for us.

[rescue me]

Enigma, yes that was why I was searching for contacts allowed, and I came across the state of Washington which the site I was on indicated only three calls a week allowed. So, all crdit card debtors move to Washigton. And why I advocated searching state laws, fdcpa has its flaws/Buddy I wish I had a suggestion.

Of course we did make the debts, but the govt. allowing "universal defaults" (gone now I think), and allowing percentage rates, that a minimum payment, sometimes at the fifth month of delinquency actually made the balance go up, was unjust. Those percentages allowed were violations of usery laws in states decades ago.

Buddy, I feel your pain. Judgements can be opened, expensive to my knowledge. A basis, reason also is necessary, often that someone was never properly served a summons. I think asking a administrator personally, w/details may help. Once judgement declared it is like a declaration of "Just and legal debt". I feel your pain, wish I could help. And I'm on their hit list (I.e. Citi).

At some point creditors usually offer to put you in a reduced payment program, with lower interest. Problem is for me, I still can't meet their proposals, limited income, and too many programs I'd be in. I'm not trying to be funny here. I, too, ran up debt for medical reasons, without medical insurance. We sometimes recover financially, and a settlement at some time in the future is a possibility. What I'd hoped for. My medical problems persist, and a road back to financial stability seems difficult. You never know, and if you have already reached that point, your husband has recovered, and finances have improved, a settlement on the judgement may work, or if family members can help.

Are/is anyone on disability from medical complications? Since the judgement obtained?

What attempts at enforcement or, execution have been initiated, and have they been successful?

[mike credit]

Quote:

Originally Posted by Buddy I wish I had known about this site earlier. At first he answered every call. When he saw their number on the caller ID he answered, just hoping that maybe someone would be able to get the interest back down, but they refused. They did not want to hear why he couldn't make the payments, they just wanted their money. It got so bad that I started getting the phone. I told them that unless they had changed their stand on the interest there wasn't any need for them to talk to him, they started their mess with me, I hang up. It got so bad we stopped taking their calls all together. June the 15th they got a judgement against us, the judge wouldn't even hear what my husband had to say. He tried to represent himself. Is it to late to do anything to get this judgement off and can we use this. All I had was notes and we did have a couple of tapes, but we are not even sure if we have them now. We had a fire and some of our records were destroyed. I'm not sure if this stuff was among it or not. I wanted my Mom and some others to hear what Citi considered ethical business practices. It got so bad we finally had the phone disconnected. As for debt relief companies, we got taken by one of those also. So you do have to be careful. This company that we went though actually made matters worse for us.

I was lucky with my debts. I offered a settlement and they took them. Between 25%-75% on all my debts. With a judgement is there any for someone like buddy to settle. Or could bankruptcy actually be a good answer in his case?

[rescue me]

Sure, Buddy can make settlements on the judgements. I'll try to explain and if it is not logical, or hard to understand, re post and I'll try again.

Ok, Judgements are alot easier to obtain then to collect. If I obtain a judgement against Joe, I can now execute it. Against what though. I could execute against his salary by way of garnishee (lien) against his salary, but every state has different laws, some states prohibit liens on salaries. Example: Joe is head of house hold w/children in Florida, he is exempt from lien on salary. So, they have to know information that they can use, lets say Joe has a bank acct. Well the judgement can freeze, and get the money in the bank acct. They have to know where Joe works in the first instance, in the second where he banks. When I worked for a collection attorney, liened a salary, unless a great job, the gent changes jobs, all I have is the judgement and have to find what I can lien. If he owns a house, can lien that, but most states can't force him to sell the house, (exceptions some states I believe if high equity, only a few states I think), so the lien can sit o n the house till Joe sells the house. The key is they have to know where, and what Buddy's assets are, and is it worth spending money to go chasing those assets. If Buddy has a lot of money and is just not paying, wow lets chase him. If Buddy is broke as me, probably won't put much time into trying to find his assets to lien.

Judgements can be settled. Ok, so there is a judgement. No way to collect it, though, so if Buddy calls, and says hey grandma will lend me half of the amount of the judgement, the attorney will probably take it. If the attorney knows just that he owns a house still might take it. I negotiated a settlement for a neighbor, they had lien on his house, but he wasn't moving, so they had no chance of getting paid till he sold the house. They took half on the judgement. You can sometimes negotiate for a deletion from the credit bureau even, usually paying a higher percentage of the judgement.

The whole thing, Buddy is not to let them know anything about your finances, or where you work, what you own, they can find out a lot about it, so let them. Don't make it easy for them though. You have to know the states laws, some states like Texas are very friendly toward the debtor.

I hope this helps and is real general. If it is not understandable, I'll do my best to try again, or higher powers may want to jump in. Alot of info is available by googling. Judgements can be settled, no doubt. They probably would rather settle them then to chase a judgement all around the country, they have so many accts. they are going to go after the easy ones. Don't make yours easy, the less they know about you the better, though they can call you into court and give info, this part would be better explained by others, or I'd have to do some more research. They couldl force to give info, again, not sure if every state gives creditor that power once a judgement is obtained. And if you're broke, give them that information. Gee they spent all that $ to get you to court to find out you have no property, and again, depending on state law, they really will find it hard to get anything out of the debtor.

[Gib]

Quote:

Originally Posted by rescue me You can sometimes negotiate for a deletion from the credit bureau even, usually paying a higher percentage of the judgement.

You can't negotiate deletion of a judgment with the judgment creditor. It is public record. That doen't mean you can't get them deleted, just the creditor has little say in the matter.

[rescue me]

Thanks, presuming that debts could be deleted, I was hoping you'd explain how the judgement could be deleted. Come to think of it, I can't think of how a public court record can be deleted. A credit bur. report yes, how does a public record of judgement get deleted?

Thanks!!!

R.M.