What is a Notice of Appearance and who is eCAST???

[ilovemycaitybug]

On PACER, I see an entry that reads "Notice of Appearance" and when I click on it, it looks like a company called eCAST wants notices??? Who are they? I've never heard of them or received anything from them. The entry was submitted by an attorney. Is something bad happening???

[SinkingFast]

eCast is an "assign" or Junk Debt Buyer. They've taken over at least one of the accts you filed BK against. They do work on behalf of lots of different CC companies.

Rather than deal with your debt themselves, Sears, Chase, Citi, whoever, will sell your debt to eCast. eCast then files the claims with the BK Court for their piece of the pie on those accts.

[ilovemycaitybug]

But we are a "No Asset" case as shown on the 341 Notice sent out at filing and by the Trustee. Why would anyone buy any of the accounts? Should I be worried? I don't understand why this is happening...

[SinkingFast]

eCast has taken over 1 or more debts so they "officially" saying they want to receive a copy of all Notices sent by the Court. They'll get a copy of your Discharge when it is issued.

[HHM]

Don't lose too much sleep over this...all it means is they want to be copied on whatever paperwork gets filed in your case. Rarely are debt purchasers/servicers (like e-cast) in a position to object to discharge.

[ilovemycaitybug]

Phew.. thanks! I thought maybe someone was getting ready to object or something (can't imagine why, but you know the paranoia!).

[DeadManCrawling]

Here's how you ended up with Ecast as a creditor:

The debt collection vultures like Ecast are a "second tier" company. They bought your debt along with debts of hundreds or thousands of other people through a debt auctioneer. This way Chase, Citi, MBNA, whatever no longer has to deal with that collection effort. They also get paid part of their money.

Usually they will pay, as a "second tier" collector 35-50 cents per dollar for the right to try to collect from you. They don't pay this all upfront. Usually it is much lower, with the original creditor guaranteed a portion of the money actually collected, up to the top number (30-50 cents), if ALL the debt is collected. Some of what is collected will, at this stage anyway, be sent back to the original creditor to make up the difference.

After the second tier, there are further tiers. Each progression makes the debt worth a lower amount, as what IS collectible will likely be collected by the upper tier vultures.

At the bottom of this steaming pile of manure are the worst ones. These companies might buy your debt five years or longer from now, for less than a cent on the dollar to try to come after debtors.

Here's one site that sells debts:

http://www.chargeoffclearinghouse.com/frameset_chargeoffclearinghouse.htm

When they purchase the right to try to collect from you, they are well aware that their time is limited. Bankruptcies are being filed, people don't have much money (obviously) or they would have paid. Also, the original creditor maintains the right to "withdraw" the list and send it back to their own inhouse collections department. This is rarely done until the first agency has given the old college try at parting you from your money. Then, after a few months, the original company, Sears or whatever, would take back control of the list, and sell it AGAIN to a third tier agency. This can and does go on for years.

The point is this: Ecast has your name on a list they purchased. They discovered your BK and without knowing or caring, listed themselves. This is the most efficient way for them to do business-casting as wide a net as possible-to see what might fall from your pockets through the bk. They will have already done the same thing for anyone on that debt list who is in bk.

Nothing to worry about, but I sure get disgusted when I think about those kinds of companies.

Best wishes,

dmc

[ilovemycaitybug]

How ridiculous! So, how is this legal??? How can they try to get a debt that has been discharged in bankruptcy (in the 5 years from now example)?

[SinkingFast]

It's not legal but it happens every day.

Junk Debt Buyers will pick up packets of debt. Yours and other folks. All the time. Charged off debt. BK'd debt. Bad debts of all size, shape, and type.

We think because we filed BK and were Discharged it's over and done with. And it should be. There is a permanent injunction in place on those debts. But, lots of times, it's not.

Possibly, some time down the road, you'll get a call, or a letter out of the blue wanting to collect on some of the debt you Discharged in BK. There are people who don't know that is illegal. They're afraid of loosing their homes or having their wages garnished or whatever, so they strike a bargain with the Devil.

When Junk Debt Buyers only pay pennies on the dollar, if that, a return of 25-50 cents on the dollar is HUGE profit. And it only takes one innocent person in maybe a hundred paying something to return a big percentage.

[DeadManCrawling]

The most bothersome part of all this, for BK filers, is that our names may or may not be removed from these debt lists as they are auctioned again and again.

They cannot legally collect from you, but as Sinking noted, many people just don't understand that. They prey on ignorance to collect illegally-if you don't know what to do.

If the debt has been discharged in bk, you are safe from paying it.

However, that does NOT mean safe from these sharks. They can hit your credit years later, by reporting it as a legit debt. Then you have to go to the trouble to prove it's not. Usually, a copy of the bk papers would cover it I'm sure, but what a pain in the ass.

There should be a section of the bk code that requires removal of our names once debts are discharged, from lists like these.

Also, as Sinking mentioned, I know people who have in fact paid a portion of debts that were discharged in bk, simply by not knowing the law. This can lead to even more complications. Suddenly, the junk debt collector can confuse a credit reporting agency by "proving" a debt is legit because they can "prove" recent activity on an old debt. That is, they can prove you sent a payment. It does not matter, at this point, that the debt was originally discharged and that they collected money illegally.

All that matters from a consumer standpoint, is that this can take more time and money to clear up, long after the bk was supposed to be finished.

Sad but true.

Best wishes,

-dmc

[HHM]

In the end, I wouldn't worry about it too much. Although it is certainly possible that you may get calls about discharged debt down the road, it is actually not that common.

[tsandy7]

Looks like we are all in the same boat. can they(e cast) be disputed in bk? show proof. I notice the amt they want is not what is owed.

I read if a junk debt buyer such as eCast and others buy others debt they cannot be both the asignee and purchaser. They would have to be one or the other. when the OC assigns an account, the have an interest in the account collected. When the OC, sells account, they no longer have any interest in the account of the collection thereof. At this point i think they don't care since they have sold the debt and got paid and it is now out of their hands.

If the OC did sell the account and got paid, the ecast is illegally trying collect. Then it seems as if they would be violating the FDCPA under 15 USC 1692e (2) and (10).Gearing v. Check Brokerage Corp.233f.3d469(7th Cir.2000). This refers to a debt collector's misrepresentation that it is an assignee. Even in BK I just have a problem paying someone that does not deserve my money including BK. I am just tired of being ripped off by businesses and others. In essence ecast cannot be both a purchaser or assignee, it is one or the other.

To show how easy it is for a company or other organization to come through the BK and get money from you. EXAMPLE: My mortgage servicer Litton Loan Servicer(i did not choose them they chose me) did not pay my properyy taxes for a whole year, the property tax people sent a notice to the court and got paid, To save myself some attorney fees, I call the County treasurer office and was told they sent them the bill, I called Litton, of course they got nasty. To make a long story short, I sent a RESPA Letter to the CEO of Litton and cc my attorney. About a few days later my attorney checked the county records, the finally paid my taxes (after getting interest). Now we have to get the money that was paid through the Bk Back.
My attorney thinks something strange is going on here. I told him i wanted to fight for every penny of my hard earned dollar., even in bk.

Sorry for being long winded, I am just angry how business are taking advantage of us..