Wow, I wish I had the gonads to tell them to stick it.

Unfortunately, for me the only idiot is myself for not understanding the difference between a charged-off debt and a discharged debt. As a result of my stupidity I am 2k in the hole. At least I don't have to fear an attny and they've agreed to fax me a copy of the signed loan paperwork once they get the cash. So they have the "contract" and no doubt would have screwed me to the wall if I decided to do anything other than what they requested.

I did some research and it appears there seems to be an onslaught of law firms specializing in collections these days. Apparently it is more beneficial for creditors vs collection agencies because they have the ability to file suit directly. In my opionion there needs to be more consumer education on financial lending and consequences of not paying. In my case I didn't wake up one day and go "oh I think I'm not going to pay my bills" I had a series of unfortunate events ( beginning with a layoff ) that snowballed one into the other. Are there any protective provisions anywhere for debtors in times of hardship?

Considering our unemployment rate these last 7 years I would think there would be something it only seems law firms and debt collectors have capitalized on this opportunity.

They want money first before they will send you validication?

Quote you ; "At least I don't have to fear an attny and they've agreed to fax me a copy of the signed loan paperwork once they get the cash"

I personally would not send any money first not until they prove their claim

They've got it. What I overlooked is about 4 - 5 years ago I disputed every deraugatory item on my credit report. I had some fraud issues and didn't want anything overlooked so I just did mass assault without any real organization and requested everything be verified. Until yesterday when I talked to the creditor I was unaware that they have verified the debt 17 times. I called the credit bureau to affirm this statement and in fact this debt had been verified by this creditor numurous times. So although I got all the fraudulant items removed this was in fact verified. Apparently this is why they are playing hard ball because they know they can. Also, I've ticked them off because they've had to verify this numerous times and have and I'm asking them to verify it again. Big mistake - from their side of things I'd be upset as well. Hopefully, they will accept this was an oversight and not intentional means of trying to get out of paying this debt and give me a decent mark on my credit report once it is paid off.

Did they provide you with a copy of the original contract with your signature on it?

Did they provide you prove they have the contract you signed?

Not speaking about your credit report verification, I am talking about what did they give to you as for validication of this debt?

Not just a mere statement the of the account the contract itself.

I am not sure what they provided but it was verified by the Credit Bureau enough times for me to think yes. Based upon that and the fact that they sent it to an attny I would bet they've got enough. Again with KY archaic law have no guarantee a judge would rule otherwise presented with the same information. Since I can't hire an attny or afford to fly to KY to defend myself either way they win.

Did you live in KY? Did you ever live in KY? If no, than they must file the suit in your state, since KY would not have jurisdiction over the matter.

Yes I lived in KY when the loan was originated and lived there as recently as 4 years ago.

They still have to serve you with the paper for the suit even though you don't live there. Will proper notice the judgment can be vacate.

First of all let me thank everyone for taking the time to assist and keeping it professional. I just got slammed on another board for my decision to settle this with the creditor.

You are correct, however, I checked the KY statutes on that one as well and there is case law which supports and does not support the civil procdure. Some judges have ruled that if a good faith effort is made to verifiable address with no success judgement can be served. I could then attempt to vacate but again it could be another legal process all over and I don't want to gamble with having a judgement.