Jump to content

Sign in to follow this  
imwonderboy

Debt Validation Ignored - Now Getting Sued

Recommended Posts


16 minutes ago, RocketGoBoom said:

 

I will accept your surrender gracefully. 

You don’t know every debt collection attorney.   You only know what took place in your situations.  

 

To to imply that all or most debt collection attorneys are less than capable offers false hope.  

 

If debt collection attorneys are as incompetent as you claim, there would be no state and federal court rulings in favor of debt collectors.  

Share this post


Link to post
Share on other sites
2 hours ago, Bluesie58 said:

You don’t know every debt collection attorney.   You only know what took place in your situations.  

 

To to imply that all or most debt collection attorneys are less than capable offers false hope.  

 

If debt collection attorneys are as incompetent as you claim, there would be no state and federal court rulings in favor of debt collectors.  

 

I think it is obvious that I was making very broad generalizations based on both my personal experience, the experience of others and what has been documented online by experts. 

 

I am an avid reader of several legal forums including TLS (http://top-law-schools.com/) back when I was considering law school (I decided against it), JDUnderground.com, AboveTheLaw.com, lawyersgunsmoneyblog.com . 

 

It is widely known that real lawyers with real careers do not usually get involved with debt collection litigation. This is not a controversial statement for me to be making. It is obvious and is conventional wisdom out there. 

 

Do you want to know why most successful lawyers don't do this type of work? There is not much money in it. Filing lawsuits against poor people who have defaulted is usually a losers game. There is a reason people default. It is usually because they are unemployed and/or they have no assets. 

 

There is a reason that banks or credit unions or JDBs only are willing to pay $1,500 (or whatever) to file a case. And there is a reason the lawyers who do this work need to file 15-20 at a time in a production mill fashion in order to make it work financially for their law firm.

 

The creditors cannot justify spending $5,000 to $20,000 per debt to chase after a $7,000 default. The odds of recovering anything are too low. So the creditors have a very low limit on the expense side that they will invest. $1,500 or less is common. Lawyers cannot make money on such thin amounts per case file. If they have to do any individual work on a case file, that totally blows up their profit margins. 

 

As a result, most successful law firms do NOT take on this type of work. There is no real payoff for the law firms.

 

The law firms that do handle this work are usually the less successful firms and are desperate for any type of work just so they can keep the lights on. There are many struggling lawyers out there making $30,000 to $40,000 per year. It is a miserable field to work in for most lawyers.

Edited by RocketGoBoom

Share this post


Link to post
Share on other sites
3 hours ago, RocketGoBoom said:

 

I will accept your surrender gracefully. 

I am sure you believe it is one but it isn't.  You just are not smart enough to see it for what it is.  

Share this post


Link to post
Share on other sites
On 11/6/2018 at 2:04 PM, CreditSucksNot said:

I am sure you believe it is one but it isn't.  You just are not smart enough to see it for what it is.  

 

I see that I have provided plenty of evidence supporting my statements here. I see you making personal attacks because you lack support for your own assertions. Now I see you punking out ... 

Share this post


Link to post
Share on other sites

I agree with Rocket in this case. I have dealt with a lot of collection attorneys; they come to court with 100 cases, don't know who you are, and have no idea what they are supposed to argue. They get flustered by the fact that you even showed up............most of those judgments in favor of debt collectors are default judgments. That's what they depend on; you not showing up. Have you ever seen a Supreme Court Justice or a prominent well-known attorney in court representing a JDB?

Share this post


Link to post
Share on other sites
14 hours ago, RocketGoBoom said:

I see that I have provided plenty of evidence supporting my statements here. I see you making personal attacks because you lack support for your own assertions.

Y-A-W-N

Share this post


Link to post
Share on other sites
3 hours ago, legaleagle2012 said:

I agree with Rocket in this case. I have dealt with a lot of collection attorneys; they come to court with 100 cases, don't know who you are, and have no idea what they are supposed to argue. They get flustered by the fact that you even showed up............most of those judgments in favor of debt collectors are default judgments. That's what they depend on; you not showing up. Have you ever seen a Supreme Court Justice or a prominent well-known attorney in court representing a JDB?

 

Exactly. It is very rare to see a successful lawyer doing these cases.

 

There is even a name for this type of law practice.

Among lawyers it is called Sh!tLaw. 

 

It is a play on words because the top law school grads from Harvard, Yale and Stanford are recruited into what they call "BigLaw". Those are the top law firms that pay $160,000+ per year to top law school grads in their first year after graduating, then salaries and bonuses go up from there.

 

http://www.top-law-schools.com/introduction-to-biglaw.html

 

Most of the entire class from the top 3 law schools (HYS) get into BigLaw if they want. From the remainder of the top 14 (T14) law schools the grads need to generally be in the the upper half of their class rank to get recruited. If you are in the bottom half of your class coming out of those schools between #10 thru #14 then you are really on thin ice.

 

If you graduated from a school in the range of #15 thru #50 then you need to be near the top of your class to get recruited. The lower your ranked school, the tougher it is. You might need a father/mother as a partner at the law firm to get recruited if you are from a low ranked school. 

 

90% of law school grads don't make it into BigLaw. They are forced into local small law practices, or they get nothing at all. It is estimated that 50% of law school grads NEVER obtain a job that requires their degree. Those people typically wash out of the legal field and are forced to enter other careers.

 

These local lawyers you see in collection lawsuits are even lower. They are the lawyers who are just barely hanging on to a legal career. They are local small law (Sh!tLaw) firms and they are handling the BS that the successful local law firms don't want to touch.

 

There is simply not much profit in collection lawsuits chasing poor people that are unemployed and have no assets. It is really that simple and this should not be a surprise to anyone.

 

 

 

Share this post


Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  




  • Today's Birthdays

    No users celebrating today.
  • Member Statistics

    • Total Members
      177,624
    • Most Online
      1,528

    Newest Member
    asayegh91
    Joined

About Us

Since 2003, creditboards.com has helped thousands of people repair their credit, force abusive collection agents to follow the law, ensure proper reporting by credit reporting agencies, and provided financial education to help avoid the pitfalls that can lead to negative tradelines.
×
×
  • Create New...

Important Information

Guidelines