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New member, about me and help using the correct forum


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Hello all. This looks to be a solid community. Once upon a time I had an 835 FICA, now I'm afraid to check. How low does the score actually go (lol)? After years in the gutter, am now taking the actions to make things right.

 

This legalese type stuff always caused major anxiety for me when I was doing well, moreso now, so this forum is a godsend. The situation today, more or less:

 

- Was served  a couple years ago on one maxed-out, charged-off credit card, ~15,000.00. I never took any action.

- Second identically-sized debt with a different card, also charged off. From reports I've gotten from mom, suspect this firm are also attempting to serve me. 

- Recently spoke to an accountant friend...I was concerned about losing my Medi-cal (California state health insurance, free for very low-income/indigent/etc) if I settled either/both. The amount you save is reported on a 1099-C, which can potentially put you above the max yearly income for Medi-cal recipients. As I understand it however, only up to the amount of your assets at the end of the tax year.

- Since I also owe a large personal debt that is important to me to pay in full, have considered bankruptcy as an option if it will negate both of the CC debts. However, I now have scrimped and saved modest funds in the bank such that settling might be a better option, if I can keep my Medi-cal for sure. 

 

So that sums it up. What I am looking for is to A.) introduce myself B.) find the proper forum(s) to post in and  C.) general advice on how to proceed. Please keep it fairly simple at first, so I don't get overwhelmed...I never was any good at navigating bureaucracy, it's a genuine phobia of mine. Thanks all!

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With 30K in charge offs, you won't have an 835 score. Order paper copies from the 3 majors. Also, some details would help. Names of the two creditors, date of last payment. Most banks are a tad stubborn about settlements, 50-75% is about what they will offer.

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Thanks. Yeah that was just some unnecessary rambling on my part about my old score. I am not even to the stage of rebuilding my credit. My current goal is simply to resolve the debt in the best way possible. I will collect the info about who now holds the debts...I am just getting back on my feet after years on the street, so that would indeed be a good first step. I guess what I'm looking for first off would be common pitfalls when contacting these creditors. For example, if I call them to try negotiating a settlement or whatever, what to say and what not to say. 

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Ok here we are. I am indeed being sued by a law firm, "Kenosian & Miele, LLP" on behalf of Unifund CCR, LLC. Not sure how they can sue without serving me, but that's what the letter says. I'd prefer to settle, and I could conceivably do so but unless they offer payments there is no way I can pay 50%-75%. 33% is about the best I could swing. I have already been successfully sued for an equal amount for another creditor entirely. Thinking I will post this info in the "So you've been served" forum if that's allowed.

 

Where might I find dos and donts of calling these collection agencies, if I did want to try and settle or at least slow down the process so I can formulate my actions?

 

 

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On 4/24/2021 at 1:28 PM, Hal900x said:

Ok here we are. I am indeed being sued by a law firm, "Kenosian & Miele, LLP" on behalf of Unifund CCR, LLC. Not sure how they can sue without serving me, but that's what the letter says. I'd prefer to settle, and I could conceivably do so but unless they offer payments there is no way I can pay 50%-75%. 33% is about the best I could swing. I have already been successfully sued for an equal amount for another creditor entirely. Thinking I will post this info in the "So you've been served" forum if that's allowed.

 

Where might I find dos and donts of calling these collection agencies, if I did want to try and settle or at least slow down the process so I can formulate my actions?

 

 

 

You haven't been sued if you haven't been served.

 

Is the debt legitimate and within SOL in your state?

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Posted (edited)
15 hours ago, cv91915 said:

 

You haven't been sued if you haven't been served.

 

Is the debt legitimate and within SOL in your state?

Well I am being sued, just confirmed it with the Superior Court website. Perhaps via newspaper posting or some such? Yes it is a legitimate debt, CC that went to collections. I suspect it's within the SOR as well. 4 years iirc? I tried to pay it off with the original debt holder a few years back which prolly reset it.

 

An edit: perhaps this is just a filing? Im no lawyer that's for sure. Just because there is a case #, perhaps that doesn't mean much. Theres been a summons issued, and a case assignment, but it just dawned on me that this prolly isn't going to proceed until/unless I'm served. Unless as I said theres an "in absentia" method of serving me.

Edited by Hal900x
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13 hours ago, Hal900x said:

Well I am being sued, just confirmed it with the Superior Court website. Perhaps via newspaper posting or some such? Yes it is a legitimate debt, CC that went to collections. I suspect it's within the SOR as well. 4 years iirc? I tried to pay it off with the original debt holder a few years back which prolly reset it.

 

An edit: perhaps this is just a filing? Im no lawyer that's for sure. Just because there is a case #, perhaps that doesn't mean much. Theres been a summons issued, and a case assignment, but it just dawned on me that this prolly isn't going to proceed until/unless I'm served. Unless as I said theres an "in absentia" method of serving me.

 

If you've already been sued, then yes, post in that forum.

 

If you have an index finger and access to Google you should be able to figure out the SOL for this type of debt and what constitutes proper service where you live. 

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California SOL is 4 years, if that's where you are. (firm suing you is in CA.) Unifund is a junk debt buyer, easier to get a lower settlement with a JDB because they only have about 3% of face value invested and they don't like court. Who is the  original creditor? If the agreement has arbitration, that may scare them off because of the cost. 15K is iffy, but I've seen them walk away from bigger debts than that. Arb can easily hit five figures and they have to pay for it. It's not recoverable, either if they win.

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Posted (edited)
20 hours ago, legaleagle2012 said:

California SOL is 4 years, if that's where you are. (firm suing you is in CA.) Unifund is a junk debt buyer, easier to get a lower settlement with a JDB because they only have about 3% of face value invested and they don't like court. Who is the  original creditor? If the agreement has arbitration, that may scare them off because of the cost. 15K is iffy, but I've seen them walk away from bigger debts than that. Arb can easily hit five figures and they have to pay for it. It's not recoverable, either if they win.

Original creditor on this one is Capital One. How would I go about finding a copy of the original agreement? Probably also worth checking on the SOL, if you can point me in the correct direction on that also. 

 

Addendum: Per my post in the "I've been served" forum, I strongly believe they have filed, using an alternate request. I have checked the local courts website and I do see the filing. So I will want to take action quickly. Let me know what information I can provide to these forums that might be helpful as well. I can list what the court site says as far as actions taken, if that would be helpful. 

Edited by Hal900x
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On 4/27/2021 at 4:50 PM, cashnocredit said:

Just a note of encouragement. Since you are "back on your feet" and appear to be young, good for you wanting to pay what you can. That said, be realistic. Good luck.

Thank you! Nowhere near being young, but since the alternative is to lay back down and die, and I've been dying for quite a number of years, I now choose to live and do whatever I can to live fully with the time I have left. 

 

Since I do in fact have an index finger as cv91915 pointed (get it?) out, I'll see if I can google the SOL.  Not sure how to find out if I've exceeded it though...would it be safe/ok to call the original creditor, Capital One? 

 

And, since I am being sued, I'll see if I can find the appropriate thread on arbitration etc

 

HOWEVER: at this time the most important thing for me to know is what can go wrong by contacting Unifund to try and settle? Could it affect the case if I'm not able to settle? Can I put my foot in my mouth and say something legally binding? Will they record me and use it in court? That sort of thing. Is there a pinned thread or some such on this?

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12 hours ago, legaleagle2012 said:

You won't need the agreement, Cap One has no arbitration. You have 30 days to answer after you are served.

 

https://www.courts.ca.gov/documents/pldc010.pdf

Thank you. Pity about the arbitration. So I would submit the linked document to the court to answer. Very helpful. 

 

Assuming I do call, and we are able to agree on an amount, is there documentation I should request from them to be assured I am not burned? Or would a verbal from the collections rep be sufficient, and could I pay on the spot?

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On 4/29/2021 at 11:26 PM, legaleagle2012 said:

Any agreements should  be in writing.

Short, and to the point. You'll have to forgive me, fear clouds the mind. I do appreciate the help.

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