A little more....


[Follow Ups] [Post Followup] [Dodge Power Wagon Forum]


Posted by gmharris [69.231.26.9] on Thursday, June 19, 2014 at 14:44:47 :

In Reply to: Re: Considering posted by gmharris [72.219.148.98] on Wednesday, June 18, 2014 at 21:27:08 :

I'm sure you don't want to dwell on this issue, but since I was rash enough to offer my opinions off the top of my head, I thought I would offer some additional thoughts after I have had a chance to reflect. They might benefit others in the same situation, if not you.

By making a payment, you probably extended the California four year statute of limitations on what would otherwise probably have been an uncollectable debt. The next step depends of what was said in the collection letter. If the letter stated that the collection company would accept the payment to close the collection action, you are probably good to go.

Scavenger collection companies will sometimes accept 25 cents on the dollar to let you go since they have only paid cents on the dollar to get the account. But, usually, you have to negotiate to get down to this amount.

If the collection company didn't let you off the hook, you will probably be asked for more money. The problem is now they have four more years to collect. And, since the total amount has grown, it may now be worthwhile for them to pursue legal action which, apparently, wasn't worthwhile before because of the small amount. Otherwise, judicial action would have probably already been taken.

Your financial assets cannot be attached without a court order. Just because they threaten to take you to court, doesn't mean it is worthwhile for them to do so. But, they will probably threaten legal action anyway.

If you do receive notice of a court hearing, be sure you don't ignore it. If you don't appear in court, a default judgement will probably be issued. Then your assets are in jeopardy.

It sounds like the ball is now in the court of the collection company. I would wait to see what they are going to do. Then, as I suggested, you should probably seek legal advice since the above is just my opinion of what I would do.

Be careful of signing agreements with attorneys, some of them can be worse than the collection companies. There are plenty of other options for obtaining legal advice than signing on with an attorney. Although, as I mentioned, a consultation with an attorney can be useful. Just don't end of paying an attorney more than it would have cost to settle the debt.

I don't know the specifics of your problem and wouldn't advise you specifically as to what what to do if I did. I'm just offering bits of information that may or may not apply to you.

The advice you get on a Power Wagon site for trucks or anything else, is probably worth what you pay for it.



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