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Theresa
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Subject: Mann Bracken Sent me an Intent To Sue letter. I need Help
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Sun Nov 09, 2008 4:43 pm
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| I have charge off account from Wells Fargo that will be past SOL on Dec. 2008 (4years in TX). It was with Midland Collection then lately (oct 2008), Mann Bracken probably bought it and sent me a letter of Intent to Sue. What should I do? I dont want to do anything that can harm this. I was trying to wait past Dec 2008 to do something about this but I guess they are trying to do something before the SOL expire. Any advise will be appreciated. I was thinking of sending them a VL and buy me off some time. But what if they are able to validate the account? can they sue me? |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4248
52 Magic Points
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Sun Nov 09, 2008 10:52 pm
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| Definately send them a deat validation letter. Never pay a debt until they can prove they own it. Chances are they could have pruchased this debt with out the proper validation to collect it. Once you ask for validation they must send it to you with in 30 days. Just be sure it is proper validation, like the original contract. They only way the can stop the SOL time clock is to file suit against you. Just because they do though does not mean they can collect UNLESS they can varify they are legally entitled to collect on this debt. |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1299
Location: Los Angeles, California
30011 Magic Points
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Mon Nov 10, 2008 4:37 am
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Hi Theresa
Fireyone is right. You should send them a DV letter first to see whether they actually owe the debt or not. Now, you can wait for them to send you the validation. Doing this will definitely consume some of their time. Now even if they validate it, wait for them to send you an intent to sue letter. If you don't respond to the letter, they will send you an summon and you will get another 30 days to file a response to the summon. You should file a response to the summon just a few days before the expiry of the 30 day period, say on the 20th day. After that you will get a court date and I think by that time your SOL for the debt will be over.
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1239
28944 Magic Points
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Mon Nov 10, 2008 4:41 am
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Yes, I think that you can follow the steps of Carol. You can at least try it. But in case you cannot escape the SOL trap, and you get a judgment, you can always pay off the full amount within 10 days of the judgment with the clerks office in the court. Doing this will avoid garnishment of your wages if you produce the receipt you receive from the court to your employer. However, if you get a money judgment, you can always repay it back after getting a judgment. But the main thing is that a judgment will stay in your report for seven years and lower your score.
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Justin |
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Theresa
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Subject: Wage Garnishment?
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Mon Nov 10, 2008 1:19 pm
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| I live in Texas. I thought that they can't garnish wages in state of Texas except for child support. I know that they can TRY to garnish other account such as profits, investments and bank account which I don't have much. There's nothing to take away from from me.This is the exact reason why I am trying to improve my credit because I got trapped into a home with a very high interest rate. I was hoping to be able to refinance early next year. I used to have a perfect credit until a near-divorce 4 years ago changed everything. I still can afford all my bills but unable to save anything. I am to the point that I don't feel bad owing them the money because I feel that I have been punished enough for the past 4-5 years. Thank you guys for all the help. I have learned so much from this forum. IF I HAVE KNOWN THAT I CAN DO THIS MYSELF, I WOULD HAVE SAVED THE MONEY I PAID THOSE 2 'CREDIT REPAIR COMPANIES" |
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Theresa
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Mon Nov 10, 2008 5:17 pm
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| does anybody have an experience getting a legit. VL. How fast is the fastest any CA responded? |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3931
307 Magic Points
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Mon Nov 10, 2008 6:53 pm
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Theresa,
If they just sent you a letter that is an intent to sue it will not stop the statute of limitations. It will continue to tick away in your favor. It is when they file an actual lawsuit that it will put the statute of limitations on hold, so if you can keep them dangling for another month or so, don't pay anything because it will start the statute of limitations all over again.
Sometimes the intent to sue letter is just a scare tactic, I would google them and see how likely they are to go through with it.
Send the debt validation letter, this will give you a thirty day window any way, they can not pursue any collection effort until they answer to this, (some one correct me if I am wrong here) and it is my understanding also that it is thirty business days so that would eliminate the weekends.
Don't freak out, what ever will happen will happen, keep your cool and don't let them scare you into anything. Send the DV letter asap.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa |
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Theresa
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Tue Nov 11, 2008 12:52 am
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| I was just curious as to how they send me letter to sue. This the first time I heard of them. I just saw their inquiry on my CR early Oct. then they sent me an intent to sue letter. Can they do that without trying to collect first? I figured that they will try to do anything to intimidate me. Another question though, Do I have 30 days to respond to their intent to sue letter before they try to sue me? I have my VL letter ready? Should I send now or wait to stretch time towards my SOL passing? |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3931
307 Magic Points
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Tue Nov 11, 2008 2:47 am
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Make sure you send the letter certified mail, return receipt requested, that way if they chose to ignore it and they take you to court you will have the proof that you requested the information, which is your right. If they chose not to respond then it will not look to good on them.
Make sure you keep copies of everything. GOODLUCK and keep us updated on this situation.
_________________
Goodnatured,
http://cashinpocket.synthasite.com/
for all the ways I make $$ online
http://www.crazymonkeygold.com/members/register.php?ref=fedupinpa |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1299
Location: Los Angeles, California
30011 Magic Points
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Wed Nov 12, 2008 3:10 am
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Hi Theresa
You can find a sample debt validation letter by visiting the link http://www.creditmagic.org/repair/sampleletter-debtvalidation.html. If the collection agency has proper proof of purchase of your debt from the original creditor including the copies of your signed papers with the OC, they will validate your letter as soon as they receive your request for DV, may be within 5 to 7 days. However, no CA can do anything, even if they sue you, to collect your debt unless and until they can properly validate the debt.
_________________
Keep in touch
Carol |
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Justin
Joined: 17 Jul 2006
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Posts: 1239
28944 Magic Points
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Wed Nov 12, 2008 3:20 am
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Hi Theresa
Intend to sue letter is not a court letter, it is only an intimation to you that they are going to take you to the court if you do not pay back the outstanding debt to them. You can send them a DV letter by certified mail once you get an intend to sue letter. However, if they have already validated your debt, you should come to a repayment agreement with them once they have send you the intend to sue letter, because if they sue you to the court, there may be a judgment against you to recover the debt. Now since you stay in Texas, there cannot be wage garnishment as per law, but there can definitely be a money judgment against you.
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All the Best
Justin |
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Theresa
Joined: 11 Nov 2008
Theresa's page
Posts: 7
490 Magic Points
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Subject: Validation Letter
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Sat Nov 15, 2008 3:14 am
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| I sent my validation MB early this week and I recieved the green card today. I hope that they really dont have any paper work to validate it. It is not that I just dont want to pay. The suffering and all the money I have paid to my very high interest mortgage is more that enough to pay off all the debts they claim I owe . Thank You guys for all the help. I will keep you posted to whatever response i will get from them and pls. dont get tired of helping me and the rest of the people here. GOD bless! |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4248
52 Magic Points
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Sat Nov 15, 2008 3:52 pm
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| We are hoping the best for you to Theresa. I would like to see you come back here once you recive validation if you would. Some of these places do not send what is considered "legal validation documents". Some try to pass off an old copy of a bill...this is not validation. They shopuld have the original contract. Once you get a response fro m them just take a few minutes and come back here so we can help you in advising if they properly validated. |
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goodnatured
Joined: 03 Nov 2007
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Posts: 3931
307 Magic Points
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4248
52 Magic Points
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Sun Nov 16, 2008 5:58 pm
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| Hey Gn think your kind of good at this dent validation stuff. What is the proper debt validation? lots send old bill and I know this is they coprrect form of dv. What exactly do these places need to have? |
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