1 more question, I promise I won't bother anyone again. To summarize, I was served a summons from MBNA from the county sheriff. I had 30 days to respond to a PO Box at the court house. I sent a letter( didn't know better-now since reading should have done it differently). I called the law firm trying to make a payment arrangement. She wanted me to pay 1400 as a good faith deposit then make payments of a ridiculous amount. I have since received a letter stating that I now have 10 days before they get a judgment on me & could possibly force a sheriff execution? I checked my credit report & the account was a charge off by MBNA. Doesn't this mean they are not pursing the collection & the debt has been sold to these attorneys? I also show that the account was in good standing up until 9/06, then 12/06 they put a big red KD on there. Any words of wisdom? Should I contact them again?

bretb

LOL, you're not bothering us. We're here to help and hopefully you'll return to relate your experience and help others. There's no bother. Imagine what good this forum would be if no one posted, being worried about bothering people.

Anyway... I wouldn't waste time talking to them, but definitely get to the courthouse with a paper in hand. Type out an "answer" to the complaint that has been filed against you.

I recommend taking it in person, take two copies and the clerks office should stamp the second copy for you to keep for your records (proof that you filed an answer, in time).

You're probably right, if the amount was charged off, the debt has probably been sold. I'd still call the original creditor if you're interested in paying, otherwise, save your money and put it towards other bills. If the original creditor (MBNA) tells you they sold the debt and you will HAVE to arrange payment with them, then forget it. The scavengers aren't worth paying (in my opinion).

I'm assuming the 'alleged' balance is pretty high. If you decide to 'attempt' to settle the account with the scavengers, I'd offer them like 10% to 15% of the stated balance. If they don't take it, I'd wait six to 12 months and try again (reminding them that in 7 years negative marks fall off of your credit report anyway).

The threat of being sued should not scare you as they are just hoping to scare you into payment. Remember, it's called UNsecured debt for a REASON! By all means, pay your house and car payments first before anything else. The creditor for those assets can grab 'em if you don't pay. Credit cards or any other unsecured debt are totally different.

If worse comes to worse, if you end up facing a sheriff execution, they should at least give you the option of lethal injection or electricution. (tongue in cheek)

Seriously though, don't sweat it. File your answer and good luck. It's a bit stressful (been there, done that), but you'll get through it. Just get that answer filed and then update us as to where you're at and the response the collector takes.

nikkitoney61

THe letter I received said they could issue a Sheriff execution to recover the debt. What do they mean?

bretb

Hmmm. You got me there. Have you tried to google it? I'm very curious now. I may need to check it out. I could venture a guess to say that perhaps the Sheriff comes out and tries to scare you into paying. But not paying a debt is a civil matter, not a criminal matter.

I'd hate to think that the Sheriff doesn't have better things to do with his time.

excon

Hello nikki:

I don't know what you guys have been discussing, so I don't know if my 2 cents is worth anything.

However, if they get a judgment, bret is right, they can't make you sell your house. But they CAN empty your bank accounts and garnish your wages. That's something that I would be concerned about.

excon

nikkitoney61

I don't think a cc company can garnish wages in NC but how would they get hold of my bank info?

excon

Hello nikki:

Dunno about wages in NC. They'll do an asset search. It'll turn up. At worst, they'll call you in to testify about your accounts under oath. Then you'll tell 'em.

excon

ScottGem

Generally, asset recovery in case of debt is performed by local Sheriffs. These are not necessarily law enforcement people, but quasi officials (usually political appointees) that have the right to collect a fee to collect debts.

If they get a judgement against you, a sheriff would deliver the order to seize any property.

As noted, they cannot make you sell your house. At the most they can put a lien on it that would need to be satisfied before you can sell it. They can garnish wages (subject to local laws) or seize bank accounts. There are a variety of ways they can find out about your assets including requiring that you tell them.

bretb

There's not a lot that can be done for UNsecured debt. "IF" they could cease bank account assets, the only way they would know the bank and account number is if you either gave it to them voluntarily, or they got a court order demanding it from you. I don't think you have to worry about that. I'm not familiar with NC state law, but in most states, no collector, even with a judgement and court order can garnish enough of your wages that you can't maintain liveliness. It's not like, even if they could garnish your wages, you're suddently not getting a pay check because they're taking it all. A small portion would be sent to the collector each pay period is usually how that would be handled.

HOWEVER, allow me to reiterate... I don't think you have to worry about ANY of this. The scavengers have VERY limited power. They use more scare tactics and hope to recover some funds from folks who are push overs and don't know any better. You really don't need to worry about wage garnishment or account asset ceasure.

excon

Hello again, nikki:

I respectfully disagree with bret. They have the power to sue you and get a judgment. IF you have money in the bank, they have the power to seize it. That's NOT limited. That's damn powerful in my book.

excon