CREDITWRENCH

I paid NCO and look what happened to me.

creditwrench@gmail.com (Creditwrench) — Sun, 18 Oct 2009 05:28:52 PDT

Creditwrench

Quote:

Originally Posted by mbjacobs

Hey everyone,
It seems like there are a lot of people on here with a lot of
experience. I have never had anything like this happen to me, but I was
hoping someone might have some advice.

I'm 26 years old. About a year ago, I signed up for monthly credit
monitoring with freecreditreport.com. I was watching my credit slowly
rise from great to phenomenal, finally hitting its peak last month at
761. I have never missed paying a bill on time, usually have less than
15% of my available credit used and have a bunch of accounts
(utilities, credit cards, an unsecured loan) I keep in perfect standing.

Until a few months ago, I was living in New Orleans. I went to the
emergency room one night, resulting in numerous bills. I was under the
impression that I had paid off every single one of them, and moved to
New York thinking I was all up to date.

I was checking in on my credit last week as I do once monthly and saw
to my horror that my credit had dropped from 761 to 654. It turns out
that NCO Financial had hit me with a creditor alert (see bottom of
message) saying that I had an unpaid debt of $87.32 from a medical bill
from the ER. I never received this bill, at least before I moved (which
was months after I had originally went to the emergency room). The ER
billing department had never contacted me by phone and neither had NCO
when they flagged me.

Naturally, as soon as I saw this, I freaked out and called NCO. They
told me that they have an absolute, 100% "no
deletions" policy, even though I never received a bill for it.
Now that I'm looking through everyone's advice, I can see I did what I
should not have done - I immediately paid the bill on the spot to NCO
thinking that was the best thing I could do. NCO told me to call
Experian but Experian told me that it was completely up to NCO. I filed
a dispute online, but was told that there was no change in my status!

So, am I completely screwed because I have already paid NCO? Do I have no grounds for further dispute? Who should I talk to?

I feel completely powerless. I have never not paid a debt I've known
about in my life and had my perfect name destroyed (98th percentile to
31st percentile) in one day because of a bill I had never heard of in
my entire life. Within ten minutes of hearing about the bill (from
their first contact with me, which was by flagging my credit report), I
had it paid in full to NCO!

Does anyone have any advice at all? Do I have any grounds to defend
myself? Who should I talk to? In the worst case scenario, how long will
it take me to begin making a recovery from this? How can I have paid
probably $100,000 in bills, rent, taxes and loans in perfect standing
for my entire life, and be destroyed by ONE single bill, whether I
missed payment legitimately (which I did), or illegitimately.

Thank you for any advice, and sorry to write such a long thing. I don't know who to talk to.

Below is the credit flag I got:

NCO FIN/55Potentially Negative Closed

877-433-9990

Mailing Address:PO BOX 13570PHILADELPHIA, PA 19101More Account Details

Account Name NCO FIN/55

Account # XXXXXXXX

Account Type Collection Department / Agency / Attorney

Balance $87.00

Date Opened 8/1/2009

Account Status Closed

Mo. Payment

Close Account Details Past Due $87.00

Payment Status Seriously past due date / assigned to attorney,
collection agency, or credit grantor's internal collection department

High Balance

Limit

Terms 1 Month

Comments

I'm sorry to hear about your plight
but it does illustrate how badly people who try to do the right thing
and pay what they owe are treated when they pay a debt collector
anything. I constantly advocate that people should never pay a crying
dime to a debt collector for any reason. Your story should prove my
point to anybody who reads about it but they will probably continue to
do it anyway.

Everybody should dispute their debt no matter how small or how large it
may be. The very fact that a debt collector has stuck their nose into
the problem should logically anger people so badly that they will do
whatever it takes to make absolutely certain that the debt collector
will never again make the mistake of contacting them in any way
whatever. They should do all in their power to make that debt collector
cringe in fear at the very mention of the debtor's name.

Doing that may be time consuming because the debtor has quite a bit to
learn. S/he must first of all learn about debt validation and how to
write an effective debt validation letter. S/he must learn about the
other letters that should be sent out on a timely basis and how they
should be written. I believe that the final letter should be a fully
prepared federal lawsuit ready to go file accompanied by an properly
prepared intent to sue letter and waiver of service of summons. That
set of documents should tell any debt collector with an IQ greater than
their shoe size that unless they wake up and die right they are going
to face some very dire consequences. The debt collector should be given
only a minimal amount of time to correct the problem before the
consumer actually files the case in federal court which should then be
done with no further ado.

In your case, you paid the debt collector so you admitted that you owed
the debt and therefore ostensibly have no recourse but to suffer the
consequences for the next 7 years. That is the common thinking but
maybe it doesn't have to be that way at all. Maybe there is a possible
remedy. The question has to be whether or not the debt collector had a
permissible purpose to put that derogatory listing in your credit
report in the first place. Did that debt collector prove that you owed
the debt before the adverse listing was placed against you? If not then
he violated FCRA and is liable to you for $1,000 times the number of
months the listing remains in your credit report times the number of
credit reporting agencies that wrongfully carried the listing. One year
in all three credit bureaus amounts to $36,000 in damages plus any
additional damages you suffered due to having been turned down or maybe
by being forced to pay higher interest rates or maybe by having been
turned down for employment.

Another question might be whether or not the correct codes were used in
getting the listing placed. If they used the wrong code they could be
liable for that as well. Did they provide any false information to the
credit bureaus? Did they attempt to illegally re-age the debt or
attempt to do so causing the listing to stay in your credit reports
longer than the time allowed by law? There may be other issues as well
but you should do your diligent research to see what they may have done
that they should not have done. Others may say that none of that could
possibly make any difference now because you paid the debt thereby
admitting that you owed the debt. That may or may not be true but there
is only one way to find out and that is to do your homework and if you
find cause of action then learn how to prepare your federal case and go
file it.

If you do what I suggest you just might come out of it with a clean
credit history and more actual cash in your hand than most people will
ever hold in their hands at one time in their entire life. So now, the
greater question is whether or not you will actually do the homework it
will take to do what I suggest or not. If you aren't willing to do that
then I'm sorry but you paid the debt and now will have to live with it
for the next 7 years or so. The ball is in your court. What will you do
with it, dribble it down the court and try for a basket or will you
fumble? Its all up to you. Whatever you decide to do I wish you the
best of luck.

__________________

Click here! Get Piping Hot info Cap1sucks links page

Lawsuit by Discover Card

creditwrench@gmail.com (Creditwrench) — Mon, 10 Aug 2009 04:48:51 PDT


Question:	QUESTION: Hello Bill. I received a letter from an arbitration company telling me that a civil lawsuit from Discover card is on its way regarding some credit card debt. We don't deny the debt and paid our bills until we ran out of money. My husband and I have been unemployed for a few months now but we are actively looking for work. The only asset we have is some computer equipment and a car we are still paying (in other words, it still belongs to the lender.) We have a couple hundred dollars in the bank which we are using for food. Our situation is desperate and we have told the collection agents so but to no avail. I guess they have heard similar stories so many times from so many people. The company sending the letter even mentions the civil suit by number so I will go to the courthouse tomorrow to learn how far along the civil suit is. I read your comments posted on your website and most likely, in civil court, Discover card will win because we don't (and never have) denied the debt. My question is: If I don't have a job and virtually no assets, what will happen after the judgement is entered against me? Your response is welcome and greatly appreciated. MAR :( ANSWER: What arbitration company did they use? NAF? It isn't because you have never denied the debt that they will win. And you want to know what will happen after the judgment is entered against you? Next they will probably go for an assets hearing and force you to go in to court and tell them where you bank, where you work and all about your assets, income and the like. They can and probably will grab any money you have in your bank account and you will go to the store one day to buy groceries and you won't have any money in your bank account to pay for them. Count on that and keep your bank account drained down to nothing or next to it. Then one day you will get a job and find out that your check has been garnished too. And just what do you mean by "virtually" no assets? Now then, since you have already assumed that you probably can't win in local court then maybe you would do well to learn how to beat up on them in federal court. But on the other hand, don't forget to tell me what arbitration company they used because that can be the key to keeping them from getting a judgment in the first place. I wouldn't give up on winning in local court just yet. Maybe all isn't lost just yet. image: Collections-Law-912/2009/08/click-enlarge_313.gif ---------- FOLLOW-UP ---------- QUESTION: Hello Bill, Thank you for reply. I'm grateful for the information you provided. It helps a lot. I was afraid but thanks to you I am learning about this process which is new to us. WHAT ARBITRATION COMPANY DID THEY USE? The arbitration company turned out to be a scavenger agency trying to "help us reduce the debt" for a fee. I went to the courthouse to check if the case was active and learned there is a hearing later this month. WHAT DO I MEAN BY VIRTUALLY NO ASSETS? We don't own a home nor do we have a mortgage. We are paying a car which is our only means of transportation. We incurred the Discover card debt to buy a printer, a computer, and some computer accessories so my husband could start a business. We have been unemployed for a few months now. The money we had saved was used to pay bills until the money ran out. I assumed we could not win in local court because I read all the answers you provided in your website. Specifically that 94% of the cases brought to court are won by the credit card companies because the judge only cares if the debt is valid. While at the courthouse I went into the court room and spend a few hours listening to the cases presented that day and all the cases before the judge went very rapidly. Of the 30 cases before the judge that day all 30 were won by Chase and Capital One. The only case that required postponment was a man who filed for bankruptcy. It seems the only solution available is to file for bankruptcy. We don't have the funds to pay a lawyer for bankruptcy nor are we well versed in legal proceedings. Denying the debt will only delay the inevitable. This is the reason why I decided to contact you. You seem to know a lot about the law. Any information you could provide will be greatly appreciated.
Answer:	I'd advise you to start learning by checking out some of my comments at which is a links page leading to many other docs pages which I and others have written. There is a great deal of information in those links that will be helpful to you. I'd like to get a look at the papers you get from the courthouse. You can scan them into image files and send them to me at ceo@creditwrench.com or you can also copy them then redact all the personal information then scan them and upload them to your own Google Docs page and either email me the links or post the links here. It is not necessary to file bankruptcy at all. Doing so is very expensive, time consuming and the results are usually pretty devastating in many ways. The only way it is worthwhile is if you have a huge amount of debt and a great deal of assets which are still insufficient to pay off all that you owe. I'd say that if you owe less then $50,000 it probably won't be worth filing BK. I wouldn't worry much about smaller debt because you can easily make those and resulting judgments go away by catching them breaking the law and filing one or more federal lawsuits against them for those violations. That's what I teach people how to do as well as how to do battle with them in local courts. Fighting in local courts is well worthwhile even if you end up losing which, as I predict, is probably inevitable. That is because they always violate federal law giving you grounds to take them to federal court and make it all go away. It really isn't all that hard to do. Just takes a bit of time and effort and you will learn very quickly how to win even though you might lose at local court. Again, I'd like to get a look at the court paperwork because the statement you made about some outfit ostensibly trying to help you and now filing a lawsuit against you is intriguing to say the least.

creditwrench@gmail.com (Creditwrench) — Tue, 28 Jul 2009 11:57:43 PDT

Creditwrench Blogtalk Radio show for July 27th, 2009 carries a

discussion about the New York Attorney General's crackdown on debt

collectors, lawyers and their illegal default judgments obtained

through fraudulent process of service. Click on then link above and

listen in as Creditwrench students who were actually victimized by this

vicious racket did to put a stop to their being victimized and how they

made the debt collectors pay them instead of collecting any.

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creditwrench@gmail.com (Creditwrench) — Sat, 18 Jul 2009 17:57:44 PDT

creditwrench's Google Docs links (http://ping.fm/ZMbaO)

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creditwrench@gmail.com (Creditwrench) — Thu, 16 Jul 2009 14:55:56 PDT

Richard needs help dealing with debt collectors (http://ping.fm/Xnrp7)

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creditwrench@gmail.com (Creditwrench) — Thu, 16 Jul 2009 14:48:13 PDT

How to prepare your courtroom... (http://ping.fm/qAeKw)

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creditwrench@gmail.com (Creditwrench) — Tue, 14 Jul 2009 10:01:44 PDT

http://ping.fm/hQR9e (http://ping.fm/hLb35)

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creditwrench@gmail.com (Creditwrench) — Tue, 14 Jul 2009 05:42:56 PDT

Blogger: Improve Your Credit NOW! - Post a Comment (http://ping.fm/jXTJI)

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Bankruptcy?

creditwrench@gmail.com (Creditwrench) — Mon, 08 Jun 2009 07:56:13 PDT

Quote:

Originally Posted by jjgross

Have her consult with a bk attorney.

Why is it that when people are already in a deep hole others want to suggest that they dig their hole even deeper? That is something I have never been able to figure out. Debt consolidation, mortgage elimination, bankruptcy and other such scams only serve to put people in worse shape than they already are. All are expensive so those who have little or no money can't afford to do any of those things and none of them will save the home from the tax man. Nothing will save the home from the tax man except cash and if the homeowner can't come up with the cash the lender will most likely do so.

Failure to keep up the taxes and insurance not to mention failure to meet payments in a timely manner usually constitutes a breach of contract giving rise to a foreclosure action against the homeowner. Mortgage foreclosure action by lenders can be defeated. It is being done with ever increasing regularity all across the U.S. as more and more judges are becoming aware of the gigantic scam perpetrated upon the American people by the mortgage lending industry, but no illegal or nefarious action by the lender will mitigate the fact that the homeowner failed to make the payments as agreed.

In the current situation somebody has to come up with a substantial amount of cash or the home is gone. Somebody has to be willing to put up not only the tax money but the money to meet the demands of the lender which is going to be much more than seems apparent at this time. Maybe several thousand more than what she seems to be behind.

Bankruptcy would cost at least 2 to 3 thousand and is unlikely to save the home from the lender. I've known several people who have tried it only to lose that cash too and the home as well. All that was accomplished with bankruptcy was to stave off the inevitable for a little while longer.

How to save the home from foreclosure once the tax man has been paid depends on whether or not the home is located in a non-judicial foreclosure state. If the home is located in a non-judicial state such as California, Arizona, Georgia, and many more the odds against a successful defense are much greater than in a judicial only state but in either situation a mortgage fraud investigation is essential to a successful defense. That can cost anywhere from $500 up to as much as maybe $2500. The only difference in how much it costs is who is hired to do the job. I know of a man in Arizona who will do it for about $500 but no guarantee as to how long it will take to get the results. Probably several weeks or more. I know a man in MD. who will do it for $1,000 and guarantee results in 7 days. I also know of a group of people who do a lot of advertising claiming to be able to save the home. The fraud examiner claims to be certified by some organization and to be able to go into court and testify as an expert witness. That fraud investigation costs at least $1500 last time I heard and apparently without any hope of ever getting an actual fraud audit report. The party doing the advertising has two web sites telling people how to beat foreclosure but is in foreclosure himself and is filing BS arguments in the court hoping his nonsense will save the home. It simply isn't going to happen. The so called expert can't even save his own home from foreclosure but wants others to believe he can save theirs and pay him handsomely for his efforts.

Even if a fraud audit is obtained it will do no good in local court since, as usual, the only question before the court is whether or not the defendant owes the money and the outcome is almost always the same. Arguments about notes are highly publicized when they happen to work but nobody talks about how many times that argument failed. A somewhat educated guess might be that no note arguments might work is maybe 1% of foreclosure cases if that.

The only realistic hope of a win is get a mortgage fraud audit from a reputable auditor then use the results in a federal case against the lender. That can work if the fraud audit is favorable to the homeowner but even then it is unlikely that the homeowner will get his house for free.

But the most important thing of all to learn is the following: If you are in a deep hole then for Heavens sakes don't do anything to dig it any deeper.

Creditwrench web site

I have a great deal of creditcard debt

creditwrench@gmail.com (Creditwrench) — Wed, 13 May 2009 15:18:33 PDT

Subject: credit card debt
Question: i have amounted a great deal of credit card debt and when my husband lost his job a few yeas ago we couldn't pay. we are a a time when we can begin to repay some of these debts and are trying to do so one at a time.. i obviously can't pay them all at once. i have a law firm sending me letters of intent to sue over $10000 owed to citibank. i spoke to a rep that told me that they would deduct 200 for the next to months from my checking to show an intent to pay while i finish out the pay arrangements with other creditor. and then we would discuss settlement. however the check hasn't been withdrawn and I recd another letter from them with an intent to sue.. what do i do at this point? should i make the payment myself directly? can they still sue? What is my next step?

Answer:

click here to enlarge
They can sue you and they can garnish wages, seize bank accounts, possibly seize vehicles that are free and clear of debt, boats, trailers or anything that has a title to it registered with the department of motor vehicles in your state. It is also conceivable that they could send a sheriff to your home to see what they can find to sell. You need to become a creditwrench student and learn how to keep them from grabbing everything you have.

Judgment recovery

creditwrench@gmail.com (Creditwrench) — Tue, 05 May 2009 13:56:10 PDT

Judgment recovery is an occupation that is very dangerous to those who have judgments against them. Judgments can lie dormant for many years and suddenly pop up to bite the judgment debtor. In fact, most judgment recovery companies such as Toxic Assets Recovery normally like to work old judgments more than they do recent ones. In order to facilitate their efforts to locate debtors who have judgments against them some firms are using various social media web sites such as Facebook, Twitter and many others. Typically, women are used to attract debtors to their folds. They go through these social networks gathering as many new followers and contacts as possible then compare names, addresses and other information about their followers to the lists of people they are searching for. When a possible match is found they contact that person in their attempts to collect the debts that are owed by their contact.

Use of this new technology illustrates how advanced skip tracers are these days. This method is a very advanced and interesting new approach to locating debtors.

creditwrench@gmail.com (Creditwrench) — Thu, 09 Apr 2009 04:39:06 PDT

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creditwrench@gmail.com (Creditwrench) — Fri, 13 Mar 2009 21:45:56 PDT

Judgement received
Question:

I received a letter from my bank in November 2008 stating that National Credit Acceptance (NCA) won a judgement against me and have request information regarding my accounts. The bank gave my NCA's number and so I called them. I asked the woman what this was for and she started to yell at me telling me that I need to pay my bills. Let's just say the conversation did not end well and my question was never answered.

I was in the process of moving cross-country from NY and made the decision to deal with this when I was settle in my new place. By the time I got settled, my bank account was frozen and I could no longer get any money from my account. After a week of being told by my bank that NCA won a judgement against me, I received another letter stating what happened. I was astonished that I creditor can do this. CAN THEY DO THIS?

After some research, I now know that this debt was a car repossession that happened to me about 10-11 years ago. After the repossession, I didn't hear anything from the creditor and had no idea what rights I had; if any. I did see it on my credit report but also thought there was nothing I could do about it. Now NCA bought my debt and pursued the matter without notifying me and won. What do I do now?

The original repossession was in CA but I moved to NY and the judgement was won in NY. My friend (a criminal lawyer) advised me to call the creditor and make a deal with them. Should I do that? If I do that, is that going to put it back on my credit report for another 7 years? And what about the 7 years thing; so many people are telling me that it shouldn't have been on my credit report anyway since it was so long ago and that I should write to the credit report agencies and get it off. Is that true? With the judgement already won, can I have credit report agencies do that? Please help; I don't where to start.

click here to enlarge Your sad story is typical of those who fail to understand the truth of what I constantly tell them. Next they will go for wage garnishments, and if they can't get anything that way they will go for any vehicles that are free and clear, put liens on your home if you own it, send a sheriff to your home to grab any furniture, TV sets, anything of value that they can sell at auction to pay their judgment. Anything at all. They can almost leave you with an empty home to sit in. Your criminal lawyer friend don't have a clue unless you have the money to pay them with and it sounds like they already grabbed that. So what should you do now? The first thing you need is some protection from the rest of their garnishments. A way to stop them cold from getting anything else. A simple phone call to 302-200-3102 can get that job done for you. The folks at TARP can put a stop to their garnishments and seizures. Next you need to learn that even though they have a judgment and garnishment in place they are still 3rd party debt collectors and they will make mistakes and violate the law and you can sue them and force them to pay you good money to go away and not sue them anymore. In the process you can probably make them vacate the judgment and leave you alone."

What can I do about a Repo of my car?

creditwrench@gmail.com (Creditwrench) — Tue, 17 Feb 2009 06:09:13 PST

	latreece
:

Subject:	stopping a charge off
Question:	Is there anyway I can stop a charge off? I've been drastically ill and I was finally able to convince my Dr.to let go back to work,but now my auto is scheduled for charge off and I can't get to work if they reposses it is there any way to stop them from charging off
Answer:	click here to enlarge No, there isn't any way to stop the chargeoff and repo except by paying it off. You might as well get ready to survive the inevitable and end up coming out ahead of the game. The first step, of course, is to get yourself some other transportation. First of all, clean out the car completely. Get everything out of it. They will repo the car and sell it at an auction then come back after you for the deficiency balance which will most likely be greater than what you paid for the car in the first place or close to it. They will mess up your credit reports so you can't get another car financed. They will probably turn the account over to a debt collector to collect for them and they will add even more money to what you owe. When they turn it over to a debt collector is the time you can turn what is now a very negative situation into a very positive one. The debt collector will start calling you trying to collect the money. Most people think that is a terrible thing. They hunker down and won't answer the telephone after a few calls. They throw away any letters they might get from the lender and from the debt collector. They try to act like turtles and hide from the debt collector thinking it will all go away or they will escape somehow and they can do that for a while until one day the sheriff comes knocking on their door with a summons and complaint. Most will even ignore that and get a judgment against them. They will ignore that too and one day they will get a summons to an assets hearing and many will ignore that too. One day, their bank accounts will come up drained of all the money and their paychecks will also start coming up about 25% less than it previously was. They will endure that too, of course. After all, they know they owe the money and think there is nothing they can do about it. Is that what you will do? Nothing at all and just suffer and let the law take it's course? Or will you start learning what to do about it now before it all gets started and it is too late to do anything about it? Those who stop to think about how much money they had invested in that car only to lose it all and decide they aren't going to get beat out of the down payment and all the money they paid out over the months plus losing more and more over the coming months or years and all for a car they will never have start learning how to turn those nasty phone calls into actual cash in their pockets to help get their money back before the phone calls even start. They will start learning and before it is all said and done they might even be able to turn a disaster into a winning outcome for them. So how about you? What will you do?

Thursday night conference call with Richard Cornforth.com

creditwrench@gmail.com (Creditwrench) — Sat, 07 Mar 2009 14:36:14 PST

Thursday night conference call with Richard Cornforth

Tomorrow, Thursday night, December 18th we will be holding a conference call with Richard Cornforth. The call will start at 7:00 P.M. central time and will last until 9:00 P.M. This is a free call with no charge or obligation except that which your telephone company might charge you for long distance. Nobody will attempt to sell you anything nor attempt to get you to do or not do anything. It is strictly for informational purposes.

The call will be an actual meeting of Richard Cornforth's J~accuse group with Richard Cornforth presiding. Callers attending the meeting via the conference call instead of actually attending the meeting will be asked to follow the format of the meeting and not attempt to hold conversations with other callers. All questions will be directed to Richard Cornforth and he will be the only one answering questions. Please use *6 to mute yourself until the time comes to allow people to ask questions. When you ask questions please identify yourself by first name only and tell us what state and city you are from.

Richard usually starts each bimonthly meeting off with a lesson about something or other often about IRS or debt collection. Please listen quietly until the moderator opens the floor to questions then you can feel free to jump in and ask questions.

The meeting will start promptly at 7:00 P.M. and will be set up a couple of minutes prior to the start of the meeting by the moderator.

Richard Cornforth is a nationally known public speaker and travels extensively giving seminars in many cities each year.

The call in number and pin is:. 1-712-432-1601 Pin is 508548#

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Debt Collectors going bankrupt

creditwrench@gmail.com (Creditwrench) — Sat, 07 Mar 2009 14:36:14 PST

Debt collectors are going broke by the droves. Junk debt buyers are especially prone to going broke because they have a heavy investment in debt but debtors are less and less able to pay. That situation will worsen dramatically as America goes into the throes of a deep economic depression that is well underway. As junk debt buyers go belly up throngs of debts will end up being forever uncollectable because there will be no records left to collect on. Many lawfirms who also depended on the collections industry will also go broke for lack of business and income. Lawyers and paralegals alike will have to find other legal fields to go into or go out of business as well.
Another beneficiary of the depression is likely to be our court systems as their workload goes down. Hopefully that will equate to lower taxation needs too. Pensioners will be getting an increase of about 10% starting in January. That coupled with rapidly declining prices at the retail level should put them in good shape which goes to prove the old axiom that every dark cloud has a silver lining.

Debt collector closes down By Jonathan D. Epstein

NEWS BUSINESS REPORTER A Buffalo bill collector has abruptly shut down and laid off all 73 employees, after the company president said cash flow woes left it unable to continue operating.

Elite Recovery Services, located on Great Arrow, closed on Thursday, sending its workers home suddenly without severance pay or any other benefits.

Company president and CEO Richard C. Corica said Elite shut down because of “economic reasons,” although he did not elaborate. He said the company, which buys credit card debt and tries to collect on it, did not file for bankruptcy and is not struggling to pay debts, but its expenses are higher than its revenues.

He said management is negotiating with an unidentified third-party to try to save the company, but would not go into more details about the discussions or the third party. He cited the confidentiality and sensitivity of the talks. “I’m hoping some other solution can take place. I hope something can be recovered,” he said in an interview. “We’re negotiating, trying to save it, to make sure there’s the capital to make sure this thing can work.” He said he hopes to know by early next week whether the effort is successful. If not, he said, he might even be able to pay the severance the workers may be owed. “We’ve always been very fair to our employees and paid them for the hours that they’ve worked,” he said. “Outside of that, there’s nothing I can say until I know the final result.”

Elite is the second locally based debt collection firm to shut down abruptly in recent weeks, after First American Recovery Services in Amherst filed Chapter 11 bankruptcy last month. It cited a slowdown in payments from consumers and the decision by its lender to shut off a credit line. jepstein@buffnews.com

Garnishment against pensioners is illegal.

creditwrench@gmail.com (Creditwrench) — Sat, 07 Mar 2009 14:36:14 PST

Subject: Capitol One Credit Card debt from 2002Question: QUESTION: I have just received a letter from my bank here in NY that my checking account funds are being withheld, and a copy of the Restraining Notice and Judgment for a Capitol One CC debt from 2002 when I lived in Florida. The account is a direct deposit $459.00 pension account only.

I immediately called the banks legal department and then the collection company and spoke to the attorney there who is handling my case. I explained to him that I paid on that CC only the charges that were mine and not the charges that were scammed by someone other than myself or anyone I know, and the charges were dismissed against me. However, he claims that I now owe for those charges, plus all the late fees since 2002. The amount of the charges were less than $1000 and the total debt is now over $6000. I shredded all my paperwork from Florida when I left there and do not have any proof of the CC statements. Big Mistake!

I relocated back to New York State in 2002. I am 65; retired in 2000; divorced in 1991 and pay QDRO from my pension to my ex that leaves me with a $459/month pension; have no real property; a 1996 Blazer with 135,000 miles in fair to poor condition; rent apartment with a 72 yo female companion where we share the expenses.

Any advice you can give me would be appreciated. Thank you.

ANSWER: That's a tough one to say the least but it also can be turned into a great benefit to you. They have illegally garnished your pension funds. They can't do that. It is against the law for them to do that and you can make them return all the money and pay dearly for having done it. You have to file in federal court but you can do that for free by filing in forma pauperous. Of course, when you win you will have to pay the filing fee of $350 but you can make them pay that for you on top of having to give back all the money they took. You might also be able to include the bank as a co-defendant although I wouldn't guaranteed that. After all, they were an accomplice to the act. They obeyed the court order and knew or should have known that they could not legally allow that to happen.

The lawyer and the plaintiff would have to pay you some heavy damages and attorney fees as well. You can also make them vacate the judgment and garnishment proceedings that allowed it to happen to ensure that it don't happen again. And you can learn how to do it without hiring a lawyer to do it for you. That way you get the attorney fees as well. You should end up with at least a couple of thousand or more on top of getting all your money back.

---------- FOLLOW-UP ----------

QUESTION: 1) Should I contact the collection company and tell them what you have advised me?

2) Should I contact my bank also?

3) Can I use the entire question and answer in my contacts with the collection company and my bank?

Thank you.

ANSWER: Should you contact the collection company? Absolutely not!
Should you contact your bank? Yes! Tell them they had no right to have complied with the garnishment order and you demand your money back. If they refuse then tell them to expect a summons to federal court.

Entire question and answer? I don't follow you there.

---------- FOLLOW-UP ----------

QUESTION: Just wanted you to know, with the advice you gave me, before I received your last reply to my 3 questions, I corresponded with my banks legal department and the managing officer of the collection agency.

That same day, the agency sent my bank a release on my account. Wow!

My question is, what can I do to get the judgment removed?

Thank you so very much.
Answer:
click here to enlarge That's going to be much more difficult and maybe impossible. The first question has to be how long it has been since the judgment was filed?
There are probably several more questions that will have to be answered but in the end the only possibility of getting the judgment removed will most likely end up with your having to file a federal lawsuit against them. In the first place, Cap One probably didn't file that lawsuit against you even though they were named as the plaintiff. If that is true then a 3rd party debt collector working on assignment for Cap One was the actual plaintiff. Of course, the lawyer that filed it was also a 3rd party debt collector. I'm wondering whether or not there was any affidavits filed with the court. If so that could well be the way to develop one or more causes of action against the lawyer and the debt collector. If we can figure out a way to get them into federal court then it is highly likely that we can force them to remove the judgment as part of the settlement agreement. You still have a cause of action against the debt collector and the attorney for an illegal threat to garnish your pension. That may very well be the strongest cause of action you will be able to get. You can file in forma pauperus since you are on a pension. If you win you will have to pay the filing fee but you can make them pay it to you before you have to pay it to the court. That's $350 and I've never seen a case where that couldn't be arranged. You very well could come out of this with a nice cash settlement as well as getting rid of the judgment. And you won't even need to hire a lawyer to do it yet you can get paid the same as a lawyer would get. That's several hundred more dollars in your pocket.

Creditwrench student from Tulsa, Ok tells about his win in court.

creditwrench@gmail.com (Creditwrench) — Sat, 07 Mar 2009 14:36:14 PST

A creditwrench student from Tulsa, Oklahoma tells how he won against a prominent Tulsa lawfirm in Tulsa County Court. There were two contributing factors to his win. He had been served with a summons and complaint but was called out of town for an extended period of time and could not reply to the plaintiff's discovery demands. When he returned he found that the plaintiff had filed for judgment based on his failure to respond to their discovery demands. He filed a response requesting more time to answer explaining why he had failed to respond, mailed his response to the plaintiff and at the same time sent his own demand for admissions. When he went to court the plaintiff dismissed the case. This was probably due to the fact that the plaintiff could not meet the defendant's demand for admissions of fact.

Listen to the words of the Tulsa, Oklahoma man as he describes what happened on the Friday night conference call for December 5th, 2008

Snowman4 [Flickr]

creditwrench — Sat, 02 Dec 2006 17:32:45 PST

creditwrench posted a photo:

A little snowman

Snowman3 [Flickr]

creditwrench — Sat, 02 Dec 2006 17:32:45 PST

creditwrench posted a photo:

A snowman with icecycles for a nose

OUSnowman [Flickr]

creditwrench — Sat, 02 Dec 2006 17:32:45 PST

creditwrench posted a photo:

Oklahoma City OU fans build a snowman

Snowman2 [Flickr]

creditwrench — Sat, 02 Dec 2006 17:20:05 PST

creditwrench posted a photo:

Another Oklahoma City Snow Man

Snowman1 [Flickr]

creditwrench — Sat, 02 Dec 2006 17:20:05 PST

creditwrench posted a photo:

An Oklahoma City Snow man