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Hi all! I haven't posted here in awhile. I need some help.

 

I have some debt that I have been trying to take care of. Asset Recovery Solutions has taken on one of my credit cards and it's alot of money. They called me at work. They said a judgment was sent to me on May 28, 2010 to my house. I never received this judgment whatsoever. They gave me a case number but when I look it up on the courts website there is nothing. Now they are talking about wage garnishment and I can't afford to have my wages garnished. I am the only one working in my house and I take care of two kids. Asset wanted to set up a payment plan but it's ridiculous the amount of money that I have to pay per month. I have seen so many complaints about this debt collection company. Has anyone dealt with this company. Does anyone have any advice?

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I cannot find anything. Maybe I am looking incorrectly? Do you have a correct website? It's really frustrating. I searched through some of my bills and apparently I did receive a summons back in 2010. But I haven't found anything else. Also, at the time I received a summons I got a court order for another credit card. I accidentally thought it was all the same so I didn't do anything to the one that I am currently having a problem with. The court order for the other credit card has been taken care of.

 

Do you think it's wise to start a debt management plan??

 

Also, there have been many complaints about this Asset and Arrow Financial Services. I'm not sure who to contact! Arrow Financial Services, LLC had this debt, then Nelson Watston and Associates, then it was Solomon and Solomon PC and now it's Asset.

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There's no way I can tell you the website. It will be for your county. For example, if you live in Stokes County North Carolina, you would look up Stokes County website. If you lived in Allegheny County Pennsylvania, you would look it up on the Allegheny County website.

 

Agreed.

 

The first thing you have to do is find out if there really is a judgement against you. Have you looked at your credit report lately? Of course you should order paper copies of your reports.

 

If there's a judgement, you will see a collection of your credit report, and it will list who the current creditor is. Also, there should be a PR (public record) showing on there as well (I've never had a judgement, so mine is clear, other people here can go further with this). This way, you can find out what county the judgement was recorded in (it's possible they sued you somewhere else, which may not have been legal, but it does happen).

 

Of course go to the county you live in's (or other counties that you used to live in) website and look this up.

 

As for debt management plans? I'd say stay away. Let's see what you're dealing with first.

Edited by BlackKnight1983
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There's no way I can tell you the website. It will be for your county. For example, if you live in Stokes County North Carolina, you would look up Stokes County website. If you lived in Allegheny County Pennsylvania, you would look it up on the Allegheny County website.

 

Agreed.

 

The first thing you have to do is find out if there really is a judgement against you. Have you looked at your credit report lately? Of course you should order paper copies of your reports.

 

If there's a judgement, you will see a collection of your credit report, and it will list who the current creditor is. Also, there should be a PR (public record) showing on there as well (I've never had a judgement, so mine is clear, other people here can go further with this). This way, you can find out what county the judgement was recorded in (it's possible they sued you somewhere else, which may not have been legal, but it does happen).

 

Of course go to the county you live in's (or other counties that you used to live in) website and look this up.

 

As for debt management plans? I'd say stay away. Let's see what you're dealing with first.

 

 

 

I've looked at my credit reports and it doesn't say anything about a judgment.

 

The only reason why I ask about debt management plans is because I am in serious debt. It's just not this card but I have others as well.

 

Thanks for your help! :)

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I cannot find anything. Maybe I am looking incorrectly? Do you have a correct website? It's really frustrating. I searched through some of my bills and apparently I did receive a summons back in 2010. But I haven't found anything else. Also, at the time I received a summons I got a court order for another credit card. I accidentally thought it was all the same so I didn't do anything to the one that I am currently having a problem with. The court order for the other credit card has been taken care of.

 

Do you think it's wise to start a debt management plan??

 

Also, there have been many complaints about this Asset and Arrow Financial Services. I'm not sure who to contact! Arrow Financial Services, LLC had this debt, then Nelson Watston and Associates, then it was Solomon and Solomon PC and now it's Asset.

 

Don't contact anyone yet, let's see what you're dealing with first.

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There's no way I can tell you the website. It will be for your county. For example, if you live in Stokes County North Carolina, you would look up Stokes County website. If you lived in Allegheny County Pennsylvania, you would look it up on the Allegheny County website.

 

Agreed.

 

The first thing you have to do is find out if there really is a judgement against you. Have you looked at your credit report lately? Of course you should order paper copies of your reports.

 

If there's a judgement, you will see a collection of your credit report, and it will list who the current creditor is. Also, there should be a PR (public record) showing on there as well (I've never had a judgement, so mine is clear, other people here can go further with this). This way, you can find out what county the judgement was recorded in (it's possible they sued you somewhere else, which may not have been legal, but it does happen).

 

Of course go to the county you live in's (or other counties that you used to live in) website and look this up.

 

As for debt management plans? I'd say stay away. Let's see what you're dealing with first.

 

 

 

I've looked at my credit reports and it doesn't say anything about a judgment.

 

The only reason why I ask about debt management plans is because I am in serious debt. It's just not this card but I have others as well.

 

Thanks for your help! :)

 

 

If you have other debt problems, let us know and the people on this board will be more than happy to offer up advice. Which I'm sure will be far more beneficial than most of these so-called debt management plans. Most plans are junk, designed to do nothing but make money for the debt management company.

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You say you received a summons back in 2010... Look up your clerk of court's website. For instance, Orange county... type in google "Orange county clerk of courts" and you search by public record of your name. See if this summons comes up. If you can't find anything, GO to your court house and go to the clerks office and find out there.

 

The debt management companies are a waste of time (and money). They can't do anything that you can't do for yourself. Stay away.

 

How old are you outstanding debts? This plays a big part in what you need to do. What state are you in?

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I had a similar situation, where a collection agency called me and told me they had a judgement against me. My county's website didn't show a judgement against me, nor did my credit reports show a record of the judgement. I then contacted the court clerk, who confirmed the case number and directed me to the office that had the case record. It turns out that my county does not electronically publish liens below $25k.

 

First, know that the CA is playing heavily on fear and intimidation. They really want you to pay voluntarily. There are costs and challenges to garnishing your wages, and it's cheaper and easier (for them) if you just pay voluntarily. But the fact is that they could get a garnishment, so you want to be proactive about this.

 

Because you did not respond to the summons, the CA was awarded a "default judgement". You'll want to research your State's position on vacating default judgements. Once the judgement has been vacated, the garnishment threat goes away. Some courts are very liberal, wanting to give you your day in court -- others not so much. The fact that it was 4 years ago makes it a little more challenging.

 

You'll also want to research your State's limits on wage garnishment. The Federal government sets a limit of 25% of your "discretionary income" (basically your take-home pay - everything after taxes, health insurance, and any other pre-tax withholding). But some States have their own limits. A handful of States don't permit wage garnishment for debt collection, and others make special exceptions where the debtor is the sole provider of child support.

 

On a 4 year old judgement, I'd be doubtful of you being able to get it vacated on your own. But (depending your State's position on vacating), there's a good chance an attorney could prevail. Expect to pay $400-$1200 for this service. Once the judgement is vacated, the CA might refile. Your attorney will probably charge $400-ish to handle that. But depending on the amount, and how strong a case they have, there's a good case the CA will give up at that point - or at least talk settlement. They're looking for low-hanging fruit, and at the point that you have an attorney fighting for you, you're no longer an easy target.

 

A lot of your decisions will be driven by the size of the judgement. If the judgement is more than $5k, it's worth the expense of retaining an attorney. If it's under $3k, you can probably settle for what you'd pay an attorney to fight it.

 

If the numbers make sense to try to settle, a couple things-

-Talking to the CA will be like your worst hard-closing used-car salesman nightmare. DO NOT tell them where you work or where you bank - that makes their job easier, and they'll try all kinds of ways to get that information out of you.

-The don't get paid until they provide you a Signed, on Letterhead letter, stating the terms of the settlement. You'll want it to include that- they are the legal owner of the debt, that the amount is payment in full, that they will not attempt to collect on it in the future or to sell it, and that they will file a satisfaction of lien with the court. (check the sample documents section here for a settlement template).

-If you arrive at a settlement, they'll tell you that they have to directly debit your bank account- which is BS. You can argue with them some more, and insist that you'll only pay by cashiers check/money order. But if the amount is going to be $1k or more, it might be easier to set up a bank account just for this payment (at a bank you don't normally bank with!). Deposit the agreed-upon amount, let them debit it, and then close the account. Or, if you have a big enough credit card, pay with that -- if they try to double dip, it's easy enough to dispute the charge.

 

Finally - if you're going to do a lump-sum settlement, consider getting credit history benefit out of it-- get a secured loan from a credit union. Deposit the money in a secured account, and they'll hand you the money back as a loan, with a tiny interest rate (like 1% over the interest they pay you on the deposit). Pay the lump-sum to the CA, and then make the monthly payments on the loan (essentially paying yourself back) and get another positive trade line on your credit report. This could also be the location of your temporary checking account to pay the CA.

Edited by JeffeVerde
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Thanks for your responses everyone. That is really good information JeffeVerde.

 

I live in Massachusetts. This collection agency has called my work several times. It is very frustrating. It's hard to pay off all these credit cards when I am the only one that is working in my house and I have two kids. Most of my debt is about 5-6 years old.

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Thanks for your responses everyone. That is really good information JeffeVerde.

 

I live in Massachusetts. This collection agency has called my work several times. It is very frustrating. It's hard to pay off all these credit cards when I am the only one that is working in my house and I have two kids. Most of my debt is about 5-6 years old.

 

Since MA has a 6 year SOL, they can't sue you for anything after 6 years. You really need to get those paper credit reports. They'll have the Date of first Default on them.

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Thanks for your responses everyone. That is really good information JeffeVerde.

 

I live in Massachusetts. This collection agency has called my work several times. It is very frustrating. It's hard to pay off all these credit cards when I am the only one that is working in my house and I have two kids. Most of my debt is about 5-6 years old.

You might have a FDCPA case on your hands (you get to sue them!). If they've called your work and said anything to a 3rd party other than to ask for your contact info, they've violated FDCPA. Depending on how, and how often they've violated, they could actually end up paying you to make this go away. If this is the case, you probably want talk to a Consumer Advocate attorney, rather than try to do it yourself.

 

If they're the rare CA that actually follows the rules, and you just want the phone calls to stop, send them a letter saying "My employer does not permit personal phone calls, and it is not convenient for me to take calls at home. Please send all communications via mail to <your name and address>". Send it certified mail, so you have a paper trail. If they call you work before they receive it, tell them the same message (FDCPA explicitly states that oral notification is sufficient to halt calls at work). If they continue to call you at work, keep a log -- each call is a FDCPA violation (and a potential $1000 fine).

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