Chapter 7?

[tony3070]

Hi everyone,

(mods -- if I'm in the wrong section, I apologize )

So I'm in a weird situation right now and am confused....

For the last 5 years I've been living in Mexico, but am from WI.

I had a Bank of America credit card that I stopped paying in 2006....at some point that debt was sold to a company called NCO. NCO sued me and obtained a default judgement in early 2011 (while I was living in Mexico, I didn't know about the default judgement they obtained until my dad saw it in the paper).

Anyways, I've decided to either try to satisfy this judgement or file chapter 7. It's a significant amount of money that I will not be able to pay.

Here's where it gets strange -- I called Bank of America and they said that NCO owns the debt. I called NCO and they have no record of it -- they just refer me to Bank of America. Finally, I've been in contact with the law firm that represented NCO in 2011 -- they are unwilling to accept any sort of money and just say that they are "reaching out to NCO" to ask them if they would like to accept money. It would seem that all three of these groups aren't willing to take payment of any sort.

I have an unsatisfied judgement for a lot of money right now and I need to somehow take care of it before moving back to WI.

Has anyone here ever dealt (even heard of ) something like this? Any advice?

Thanks

[justbroke]

Do what I did... I sent a demand letter to prove the debt. I had this company that sent me a collection for running a red-light (which I never had done). The letter had referenced a vehicle type, color, make and model that I never owned, not to mention the registration. I sent a certified letter demanding "proof of the debt". They could not find the debt. I sent them another letter and demanded that they stop all collection activity and remove (via eOscar) any notations on my credit report.

To my surprise, they complied! They probably needed to comply because their initial response to my validation letter was that they could not find anything in my name. Strange, but it does happen... I suppose.

[LadyInTheRed]

Wait to hear how NCO resonds to its attorney. If you are trying to settle for less than you owe, be sure to get in writing that they will file a satisfaction of judgement with the court when you pay the agreed amount. You may want to get a WI attorney to help you, especially if this is a large judgement.

If you don't settle and want to file BK, you have to move back to the U.S. first.

[LadyInTheRed]

Definitely try JB's option first.

[tony3070]

Thank you both.

What happens if NCO is unwilling to take money and the law firm just shrugs their shoulders? Is their any other remedy, besides chapter 7, to make this go away?