Ask Me Help Desk - Lawsuit filed by asset acceptance

I have been served with a lawsuit by asset acceptance. A few years ago, when I was unexpectedly unemployed, I could not make the payments on three credit cards. A bankruptcy lawyer told me I could either pay or ignore them. I tried to ignore them as I am barely catching up on basic expanses. But now I have been sued. The amounts are considerably higher now and they are offering me a 35% discount to settle. Considering how little they have to pay to buy the debt, this seems a bit high. I know I have to reply to the lawsuit or face a default judgment. I have been cautioned not to talk to the debt collector, but I am interested in getting this off my back (and credit) without having to pay the entire debt which has been written off by the creditor (I know I will pay tax on the forgiven part.)
Any advice?

I don't know how this will impact your credit reports; they seem to do whatever they want. Sounds to me as though you've answered your question. The only way to get them down any lower is to say I have cash and can deliver it immediately. On the other hand, there is always Chapter 7 and 13.

Hello rosi:

As long as you want to settle, there ain't nobody to talk to EXCEPT them.

If they're offering 35%, you can probably get 50% or better. Depends on you.

In terms of your credit report, a paid collection isn't as bad a paid judgment. And, if you think it went up before, wait until they sue you. It's going to double from what it is now. Plus, when they get a judgment, negotiation is over. They'll just tromp through your accounts taking what they wish.

IF you have cash to negotiate with NOW, you might even be able to SAVE your credit if you handle it properly.

THEY aren't going to remove the item from your credit report willingly, and they can't either. They only report what the status of the account is. It's ONE way reporting, so they CAN'T remove it. But there is one thing they can do that will get the same result. That would be to stay mum when the credit bureaus inquire again.

It IS something they can do. But, they're not going to do it because they're nice guys. Oh no. They'll only do it, if they're going to do it at all, because they're not going to get paid unless they do.

Collection agents work on commission. He WANTS to get paid. If he goes for your offer, get it in writing. When you send the payment in, send it certified, return receipt requested. In the letter, AND ON THE CHECK, write that acceptance of the enclosed instrument binds the acceptor to the following agreement. Then spell out that he is NOT to respond to the credit bureaus.

Then, challenge the collection as not yours with the credit bureaus. They'll go back to the collection agent and ask him to verify the account. He's not going to respond, per your agreement, and the item will be removed from your credit report.

It's the only way to get it done. If you pay it before you get such an agreement, the collection will show as being paid, but it WON'T be removed, and isn't much better than an UN paid collection.

excon

:( :confused: need to know the amount I can earn weekly before wage garnishment is legal in Florida?

Wages of the head of a family are exempt from garnishment unless the person's net wages are more than $500 per week and the person has agreed in writing to allow wages to be taken to pay the debt. A head of family includes all persons who reside in Florida and who provide more than one-half of the support for a child or other dependent. Wages in a bank account that belong to a head of family retain their protection from being seized for six months even if the wages are mixed with money from other sources. If a head of family had not agreed in writing to allow the garnishment or attachment of wages, all the wages are exempt. You must file an affidavit with the court to declare your head of family status and protect your wages from being taken.

Persons who do not qualify as head of family will still have the protection of federal law which limits the amount of wages that can be garnished. If you take home less than 30 times the minimum wage per week, all of your wages are exempt. Otherwise, a judgment creditor can obtain 25 percent of your net wages under a continuing writ of garnishment until the judgment is paid in full.

Need to know how much I can earn weekly before wage garnishment is legal in Georgia.

Being sued by Asset Acceptance? I can help win your case.

Asset Acceptance is what's known as a "junk debt buyer"... they purchase very old debts from various lenders for pennies on the dollar. 96% OF THE DEBT THEY PURCHASE CANNOT LEGALLY BE COLLECTED. However, they count on you never fighting your case – giving Asset Acceptance a default judgment against you. They use scare tactics (serving you with court papers, harassing letters/phone calls) to get you to budge and make some type of payment arrangement. When you do, you waive all your rights, and they can legally collect from you.

If you were served papers from Asset Acceptance, YOU HAVE 30 DAYS TO RESPOND - otherwise they will win the case by default and can legally collect the debt from you.

If you want to win your case, I have a turn-key way to do it. For $99.99 - You will get Asset Acceptance off your back, you won't have to pay anything to them, and you'll never have to go to court.

I started doing this because companies like Asset Acceptance are taking advantage of honest, hard working people. I'm one of those people, and I wouldn't stand for it. I think everyone deserves the power to fight companies like this without being charged $250 an hour by an attorney. I am in business with my family…We've been around for 35 years, and manage a variety of projects across the country - we have the knowledge and staff to help you win your case. We'll never charge you more than $94.99. PLUS, we're very professional, friendly people.

Feel free to contact me if you're interested or have any questions... [email protected] – I will always get back to you within 24 hours.

Remember, you only have 30 days to respond after you get served papers. Don't let them win by default - take action and win your case.

Hello V:

We don't charge for our advice. You shouldn't either.

excon

What is the name of your firm? With all the scammers out there I would like to check you out before contacting you. If you find this request offensive then I wouldn't want to do business with you!