Ask Me Help Desk - Help about a Credit Card Debt

Please advise. I am currently in South Florida I moved here after a divorce. Before moving I tried to settle my credit card debts but after two hurricanes went into a tail spin.
I begged for my credit counseling agreement for 3 months, in April of this year I tried to get back on track and they dropped me. My son was in intensive care so I went into a tailspin and defaulted. In August Chase called me and I agreed to set up payment of $40.00 per month to avoid the account be charged off or demanding payment it full. The full amount was $1500.00. Evidently they took the first payment but no others. The have called me not telling me why I was assuming they were trying to get more money which I do not have at this point. Last week I was contact by a Law Office called Bronson & Migliaccio, LLP for New Jersey. They evidenlty are a Debt Collector. The letter states that CACH, LLC is now the creditor and the Original Creditor was Chase Manhattan. It states I owe Cach, LLC the debt. What does this mean? Has Chase sold my debt at a reduced price? I checked my bank and they took a payment in August, But not Sept, Oct or Nov as I thought was agreed. The letter is a form letter and the attorney's signature is a copy. What should I do. I want to continue the original $40.00 with Chase until I can up it. If they sold the debt and charged it off do I still owe them and now the Debt collector who bought it? I am very frightened - can they freeze my bank account?

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https://www.askmehelpdesk.com/bankru...ask-29036.html

Send them a letter stating all contact with you must be done in writing. THey cannot attach anything until they get a judgment against you.

Try to make payment arrangements with them, but you must dispute the debt or they will obtain summary jusgment against you by default.

Mr Yet,

Do I deal with Chase at all? Do you know? And how long will it take them to get a judgement. Do you know? I so appreciate you help

Chase most likely has charged the debt off, and turn it over to the debt collector, on the bottom of the debt collector letter it should state you must dispute the validlty of this debt within 30 days.

It you don't you are saying it valid.

Time line varies for judgment, even if you owe the debt, you must dispute it.
Send the letter to them from the link to verify the debt, this will give you some time to try to settle before they try to get a judgment.

Thank you MR. Yet and I will try to Thank you more appropriately in a week. I'm just concerned they can freeze my bank account immediately after the time limit of dispute. Should I send the dispute letter via certified mail?

Certified mail with return receipt, this way you have a record of what you sent to them.

So you know if they can freeze my bank account. I've been reading and I've seen they can't unless I get notified via summons. I've even read that if they are attempting to collect ad debt not originally owed to them - they need to take further procedures is this correct.

Here is the link to the Debt collector act from the FTC it you help you understand the procedure.

http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm

Quote:

Originally Posted by jenifer7

Please advise. I am currently in South Florida I moved here after a divorce. Before moving I tried to settle my credit card debts but after two hurricanes went into a tail spin.
I begged for my credit counseling agreement for 3 months, in April of this year I tried to get back on track and they dropped me. My son was in intensive care so I went into a tailspin and defaulted. In August Chase called me and I agreed to set up payment of $40.00 per month to avoid the account be charged off or demanding payment it full. The full amount was $1500.00. Evidently they took the first payment but no others. The have called me not telling me why I was assuming they were trying to get more money which I do not have at this point. Last week I was contact by a Law Office called Bronson & Migliaccio, LLP for New Jersey. They evidenlty are a Debt Collector. The letter states that CACH, LLC is now the creditor and the Original Creditor was Chase Manhattan. It states I owe Cach, LLC the debt. What does this mean? Has Chase sold my debt at a reduced price? I checked my bank and they took a payment in August, But not Sept, Oct or Nov as I thought was agreed. The letter is a form letter and the attorney's signature is a copy. What should I do. I want to continue the original $40.00 with Chase until I can up it. If they sold the debt and charged it off do I still owe them and now the Debt collector who bought it? I am very frightened - can they freeze my bank account?

Actually, Cach can buy your debt but they cannot take you to court because they have never had a contract with you. (ie they have no standing in a court of law). It is very common for Companies like these to buy debt that credit card companies have written off. These companies just hope that you will be scared into making a payment. Once you do, you essentially are liable for the entire debt.

My husband just had a draft "complaint for damages" served on him by, guess who, Cach. It has not been filed (because they have no standing with the court) but they are hoping to scare us into paying something. This was for a credit card debt that was "charged off" a long time ago. (FYI - check your state statute of limitations for written contracts. If you have not made any payment or had any activity on that account for a long period, Cach may be barred by the statute of limitations from going after this debt)

We plan to respond with a letter, sent via certified mail, denying the debt and stating in the letter that we have never had any written or oral contract with Cach LLC nor has Cach LLC ever provided us with goods or services. We are going to ask that if they have any evidence otherwise to provide us copies of those documents otherwise they should cease their attempts at collection. We are going to tell them that we will monitor our credit reports and that any reporting of this debt without a court ordered judgment will be reported to the Fair Trade Commission as a violation to the Consumer Protection Act. I suggest you do the same.

Quote:

Originally Posted by jenifer7

So you know if they can freeze my bank account. I've been reading and I've seen they can't unless I get notified via summons. I've even read that if they are attempting to collect ad debt not originally owed to them - they need to take further procedures is this correct.

They would have to sue and win, take you to court. They would win, since you legally owe the money... so yes, they could freeze your account and garnish your paycheck...

The deal you made with them. Was that in writing? If not you had no deal. They lie. And break federal law all the time.

Quote:

Originally Posted by jenifer7

Please advise. I am currently in South Florida I moved here after a divorce. Before moving I tried to settle my credit card debts but after two hurricanes went into a tail spin.
I begged for my credit counseling agreement for 3 months, in April of this year I tried to get back on track and they dropped me. My son was in intensive care so I went into a tailspin and defaulted. In August Chase called me and I agreed to set up payment of $40.00 per month to avoid the account be charged off or demanding payment it full. The full amount was $1500.00. Evidently they took the first payment but no others. The have called me not telling me why I was assuming they were trying to get more money which I do not have at this point. Last week I was contact by a Law Office called Bronson & Migliaccio, LLP for New Jersey. They evidenlty are a Debt Collector. The letter states that CACH, LLC is now the creditor and the Original Creditor was Chase Manhattan. It states I owe Cach, LLC the debt. What does this mean? Has Chase sold my debt at a reduced price? I checked my bank and they took a payment in August, But not Sept, Oct or Nov as I thought was agreed. The letter is a form letter and the attorney's signature is a copy. What should I do. I want to continue the original $40.00 with Chase until I can up it. If they sold the debt and charged it off do I still owe them and now the Debt collector who bought it? I am very frightened - can they freeze my bank account?

I am having a problem with the same company but with a car loan someone please help!

I say beware of CACH! I'm dealing with them too. In my case, they are an assignee of Chase Manhattan, and have used a law firm that is able to practice law in my district. I know that they have an extremely shady reputation, so I say fight them as hard as you can!