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Sued by Bank of America


StuffFromDennis
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The last post in this topic was posted 872 days ago. 

 

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Hi all,

 

Been struggling for decades with credit. Just never really mastered life I guess. I was here years, maybe a decade ago after a failing business. Managed to get credit cards again and then a major life issue happened. My mom developed a stage 4 terminal cancer. I have no siblings, she had no husband, there was just no one else to care for her, so I quit my stable job to accept a $900/month payment from the state to take care of her. That's the maximum the state will pay for monthly care but she really needs 24/7 attention. Not only does she have a stage 4 cancer but also has schizophrenia and tends to hear voices outside that she'll wander off to answer.

 

All of her life all of my family has always said that they didn't want to be in a home. My mom honored those wishes for my grandma and kept her home during years of illness.

 

Three years ago they gave my mom two years to live.

In November of last year after a major fall that left her wheelchair bound (mostly), they updated that estimate to six months.

 

I no longer pay on any credit cards, etc. I just left those $20k balances behind.

 

Bank of America has sued. They are the only card of mine so far that's sued. My last payment was about 2 yrs. and 2 months ago. In my state, I believe the statute of limitations is 3 years.

 

We recently had my courtdate and I figured I'd at least show up so that they wouldn't win a default judgement, see if they presented any solutions, and probably lose and accept the judgement. Best case scenario they don't show.

 

Of course they came. I was just up front and explained my situation to their lawyer in our pretrial meeting. He was more understanding than I thought, still a little cold of course ("can't you just sell the house your mom is living in and put her someplace else?", blah blah... I explained that I didn't really have any money at the moment (I have $3), mentioned that I was 90 days late on my own house payment which they could verify by credit report and asked if BofA ever settles for a lot less. Lawyer said some other card companies do. He said they never do. As a result of our talk, the lawyer told the judge I was "way underwater" with "extreme family circumstances" (I was surprised for ANY compassion - I expected a "so?" type attitude) and asked the judge if we could reexamine the situation in December to see if anything has changed. So I have a next trial date a week before Christmas and no judgement (yet). 

 

The judge asked me if I agreed to that delay. I asked the judge if I wouldn't just come in December and lose anyway and have a judgement against me then and he said not necessarily. They could dismiss the case or other things could happen, etc. So I agreed to the move to December.

 

What will happen to me if I go to court again and I repeat the same explanation in December? Do you think they ever would dismiss (if my mom is still alive and the situation is the same)? Is there a possibility of extending again? Do I likely just lose eventually as I originally expected? Any real world advice appreciated and thanks!

Edited by StuffFromDennis
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I am anxious to see the feedback others provide on this one. 

 

I can only speak from my experience working for a large creditor/bank.  Usually we would only have our attorney's seek a continuance/delay if we were confident that the borrower's financial outlook would drastically improve in the near future and/or felt the applicant was about to be the beneficiary from an estate or settlement. The latter reasoning could be applicable in your case.  If BoA has reason to believe your mother will be leaving an estate that you will be beneficiary of then they could wait for that and then seek a judgement against you to be paid through the estate settlement.

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So sorry for your troubles - even if BoA doesn't lower the amount, you can request to pay a different amount.  Request (in writing, certified mail) from them all available statements.  Take away late fees, overage charges and just apply the charged amounts.  You can request the bill of sale if they sold to a third party, and see if you can find out what the 3rd party paid for your account, and offer to pay off at least that, plus original charges, minus fees.  The judge has the ability to accept this offer and give them a judgement for a specified amount, other than what they are seeking.  It seems the attorney showed up was decent enough to recognize human struggle, but as the above responder stated, they may be waiting out to get a judgment on an estate., knowing that you are sole heir to an ailing parent.  If you can get the judge to agree to lower the amount,  you might at least be in a better place to be able to pay it and not be left with nothing.  But do your research and find what amount would be "fair" to offer, and submit a payment plan based on your budget as it is in December.

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11 hours ago, LynnJamie said:

but as the above responder stated, they may be waiting out to get a judgment on an estate., knowing that you are sole heir to an ailing parent. 

Thanks for the replies so far. I love understanding things.

 

What would be the benefit to them to wait until they believe I might be able to satisfy the judgement in the future vs just getting the judgement against me while I was there and attempting to collect on it later?

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5 hours ago, StuffFromDennis said:

What would be the benefit to them to wait until they believe I might be able to satisfy the judgement in the future vs just getting the judgement against me while I was there and attempting to collect on it later?

That's an easy one...they may presume you will be able to settle in a lump sum if your family member passes between now and then.  That is far easier for them than getting a judgment and hoping for payments in some manner of drips and drops.  Additionally, they get their 'good guy' points for not piling on by moving forward with litigation while you are in crisis mode...

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