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Long story short, have an old judgement, that while it isn't showing on my credit reports, shows up as public record when the mortgage company pulled my credit. I have to get it paid/settled/removed in order for them to approve my mortgage loan. How can I best protect my assets while I try and settle with them? So far I have been able to fly under their radar as I am self employed, have a different bank account and don't have any auto loans. I know since the judgement they have tried to get information in court from companies I have done contract work for, so I know they are diligently trying to garnish wages from me. How can I protect my bank account while I am in contact with them to settle the judgement and get it taken care of?
Hi, I'm new here and got a notice from a credit agency on my private student loan. It's been 3 years since I last paid as I was contesting the amount and got sick. I signed for the loan in D.C. and the loan originated in OH. I now live in OH. I also stopped paying while I lived in NY (before I moved to OH). I just got a letter from a CA based in NY state (don't know if the CA state location makes any difference). My question is which SOL will apply? OH, NY or the shorter DC SOL of 3 years? OH has a number of SOLs, 6 years, 8 years so I'm not sure which SOL would even apply to the promissory note for the bank based in OH. How could I look this up at a law library. I'm not very familiar with the process if anyone could help with legal research ideas? I'm also contesting the validity of the loan because the promissory note states that the repayment period is 240 months and I think I have passed this point. Any help I can find would help a long way; very stressed out by this situation---there are so many ways this could go---if the CA goes through with a judgment and wage garnishment (I'm disabled and earn a very small part time income) can they revive the judgment every five years for 15 years (OH) even after the SOL expires on the private loan itself (3 yrs DC SOL, 6 yrs NY SOL, 6 or 8 yrs SOL OH)? I don't know if I should just ignore the CA or write them to dispute this loan (and risk waking the sleeping giant) or wake the sleeping giant with a dispute letter and prepare myself to go to court (have no idea how I would defend myself but would like to dispute amount of the loan, SOL etc). This all seems very risky. Can this debt sold to a credit agency be invalid?
In early 2016, I lost my job in the oil field. It was a very good job, and I made good money. I received a decent package when I was laid off, and starting looking for a job. Sadly, the entire oil patch was going through the same thing, and it took my 18 months to find a job that paid 1/5th of what I had been making. It took another six months after that to find a job that allowed us to keep our heads above water, and now I'm back in the saddle and we're doing much better.
Around the 18 month mark, we had to let some of our credit cards go. They had pretty high balances, but we were doing fine until that point. It was always our intention to try to pay them when I found a job, because we did incur the debts and I felt pretty bad about having to let them go. Also, we'd worked so damn hard to get our credit straightened out and it was very nearly physical pain to let it go to hell again. But when I got to the point where we could actually start looking at making payments again (around that two year mark), well ... OCs were sort of like, too bad, we've already charged them off and sold them. I decided to try to ride it out and see what happens. We haven't applied for new credit, but we've maintained three or four cards, our car payments, student loans and a personal loan in the time that's elapsed.
Fast forward to last month, and I was sued by Midland for a small-ish debt. I responded, but haven't heard anything back yet. The thing is, we're trying to move in to a new rental, and the RE agent is telling us it may be impossible for us to do so with our credit scores (my FICO scores are low 600s and I make the bulk of the income; DH's are mid 500s). Soooo I was wondering (and I'm no newb but I am sick of dealing with this crap) if I should try to settle some of these with a couple of caveats - primarily that they are PFDs and the remaining debts are never sold. I still have two years to ride out the SOL, and I cannot wait that long to move or buy a car (that needs to be done next year).
Should I try to settle these debts? I'm morally opposed to paying bottom feeders like Midland and Portfolio, but I need to get my scores back to a reasonable point, and the damn collections from JDBs are what's really screwing it up. Also, I'm concerned that since half or more of my debts are now owned by Midland, if they are in any way successful with this lawsuit, they will charge full steam ahead and go after me for all of them. I can see it really opening the flood gates, so to speak.
What would you do in this situation?
Hello, If anyone with experience could read this over and please tell me if I'm heading in the right direction, I'd be FOREVER grateful. Thank you!
(I live in TX) I was served on March 18th a JUSTICE CIVIL CITATION by Midland Funding.
Original creditor: Synchrony Bank
Card/Account name: JcPenney
Claim total: $2889
Date account opened: 11/02/2005
Date account closed/charged off: 03/11/2018
Date of acquisition: 04/27/2018
Backstory: we were displaced back in June 2017...we were given 30 days to pack up everything we own and find a new house (we had been there 12 years). Our rent went from $700/mo to $1250/mo and I was completely unprepared for that price jump so I had to stop paying on a couple of my credit cards.
Fast forward to this year...as I mentioned, I was served on March 18th and my response was due on April 1st. I completely forgot. And then three weeks later, my 12 year old nephew committed suicide. So, THAT was an obstacle in itself. It has taken me months JUST to get back to "normal" from the depression/etc.
So now, here I find myself in September already, looking at a letter titled DEFAULT HEARING NOTICE (rcvd 08/29/19). It says I have a default hearing set to be held on September 20th. I know I'm cutting it SO CLOSE, but what options do I have right now?
I did some research and found that I should still be able to file a MOTION TO SET ASIDE DEFAULT JUDGEMENT and NOTICE OF HEARING, with the reason that I didn't attend the hearing due to "accident or mistake rather than intentional or conscious indifference". Is this true? I keep seeing conflicting information (or I'm not comprehending it completely).
I also saw in the forums that Synchrony Bank does arbitration. I was successful in beating Midland about 4 years ago by going through arbitration, SO if I am able to get the judge to set aside the default hearing, my plan is to ask for arbitration.