Question Help Please

[Rintaro]

I am being sued by Credgiy/First Select

They sent me a memorandum of costs My question is does this mena a Wrtie Of Execution is to Follow?

2) How can a collection agency find Bank Accounts?
3) What power does a Cease & Desist Letter give me if a creditor already has a judgement.
4) I read about a Declaration to Vacate Judegment. has anyone had any success in this, Do I have to have an attorney to file this.
5) Has any one had any success in filing a counter suit against a collection agency ( success= The collection agency backs down and gives up collecting)

6) In California What is the state law requirement of process serving, can they simply mail a service or doesn't it have to be certified signe dfor or served in person.

Please help if you can

Rin

[keepmine]

A C&D is useless once they've won a lawsuit. All they'll do is schedule a debtors exam and place you under oath and get the info they want.
To vacate a judgment you need a good reason.
And yes, there are instances where a countersuit has at least forced a settlement. Again, you need specific violations of the FDCPA/FCRA or your state equivalent.

[Rintaro]

A C&D is useless once they've won a lawsuit. All they'll do is schedule a debtors exam and place you under oath and get the info they want.
To vacate a judgment you need a good reason.
And yes, there are instances where a countersuit has at least forced a settlement. Again, you need specific violations of the FDCPA/FCRA or your state equivalent.

Is my wife's bank account safe so long as my name is not on it or even part of that bank?

[HHM]

In answering

2. Generally, if you applied for major credit (i.e. car, home) in the last 3 years, odds are you had to supply Bank Account info...that info is put on your credit report. But, it is also somewhat difficult to find bank accounts. There is no central database...that a collection agency can access...that is 100% reliable in identifying a persons bank account. But in the end, if they have a judgment against you and are willing to go the extra mile, they will just sit you down, under oath, and ask you.

3. Cease and desist has no bearing once a judgment is entered. I suppose all the C&D will do is they will stop contacting you...unless the contact is legally required (serving notices, etc).

4. You need a reason to vacate a judgment.

5. Again, you would need some basis for the suit.

6. Can't help you with the specifics, but you could probably easily look that up online.

[Rintaro]

Thank You all for you rhelp , I am at a loss, This collection /judgement is a big pain I am still not sure of where it came from Originated,

So I though maybe a counter suit would at least let them know I will fight hard and they may back down as 4K is barely worth the fight in the whole picture of things.

I am hesitant to file BK worried about how bad it would hurt my credit or prevent me from things like renting an apartment ect..

Is My Wifes bank Account Safe?

[keepmine]

You have the right to demand a copy of the judgment.
Your wife's account should be safe as long as you have no connection to it.

[AboutToBK13]

Thank You all for you rhelp , I am at a loss, This collection /judgement is a big pain I am still not sure of where it came from Originated,

So I though maybe a counter suit would at least let them know I will fight hard and they may back down as 4K is barely worth the fight in the whole picture of things.

I am hesitant to file BK worried about how bad it would hurt my credit or prevent me from things like renting an apartment ect..

Is My Wifes bank Account Safe?

Hmm, have you looked at your CR lately? If you have CA's reporting and PR's reporting, there is a good chance your credit is already trashed.

If you are not judgement proof, your options are limited to pay, fight, or BK. Fighting is a bit late IMHO, someone already has a judgement against you. The time to fight is prior to the judgement being awarded.

Let me back up a minute. Are you being sued? Or, does a judgement already exist? I am unsure after re-reading this thread.

[treehugger1]

I assumed you were already sued as the judgment would be the result.

If in fact, they did manage to serve you under state laws, and they did receive a judgment, there will be a record of that somewhere.

If the judgment is valid, you might wish to contact whoever has claim on the judgment and see where everyone stands. Maybe you can work out a reduced payment plan.

If they have a judgment, it is potentially open season on your bank accounts, wages, and filing a lien on any real property you may have in your name.

[treehugger1]

And, if the judgment is valid and collections will be ongoing, then your credit will take a hit.

You need to make a decision about yoru financial situation. Do you want to have breathing room and live within your means, or do you want to protect your credit? Many would argue that having (taking back) control of your financial situation and saving your credit do not always coexist.

I know folks who have constantly applied and received 0% balance CC's to continue to make minimum payments and "save" their credit. All the while, the debt is slowly growing until it is out-of-control. Saving their credit led them to a financial crisis.

Be careful with your choices.

[AboutToBK13]

I know folks who have constantly applied and received 0% balance CC's to continue to make minimum payments and "save" their credit. All the while, the debt is slowly growing until it is out-of-control. Saving their credit led them to a financial crisis.

Be careful with your choices.

Yup that is exactly how I got $117,000.00 in unsecured CC debt. Add another $120,000.00 if you count student loans.

[jp2861]

Hmm, have you looked at your CR lately? If you have CA's reporting and PR's reporting, there is a good chance your credit is already trashed.

If you are not judgement proof, your options are limited to pay, fight, or BK. Fighting is a bit late IMHO, someone already has a judgement against you. The time to fight is prior to the judgement being awarded.

Let me back up a minute. Are you being sued? Or, does a judgement already exist? I am unsure after re-reading this thread.

He doesn't say whether there's already a judgement out against him. What exactly do you mean by judgement proof?

[AboutToBK13]

Judgement Proof ... can the creditor garnish wages, seize bank accounts, place lien on home?

In some states like PA, other than taxes, child support, and a few others, wages cannot be garnished. In general a CC or CA cannot garnish your wages (noting PA only for my example other states have similar laws but I am not sure which). Additionally, some types of income (disablity, social security) are usually protected. If you don't own a home, they can't really place a lien on your home. Some states protect the homestead completely. You can close out a bank account and live cash only.

So, if there is nothing to garnish, seize, or place on lien, what does it matter if you have a judgement against you? There is nothing to take. Thus, Judgement Proof.

[treehugger1]

I've been reading some articles published in different states about the modern varying degrees of "judgment proof." Technically, you are judgment proof if you have no assets that creditors/CA's can attach AFTER they have the judgment in hand (There are no assets to satisfy the judgment.) Generally, this includes unattachable wages.

However, I'm now reading some info where folks don't have assets other than wages. They choose not to file BK and allow wage garnishment. They own no other assets, or what assets they have are exempt from attachment. I would be in this case.

The downside is the potential for wage garnishment. It appears that the maximum garnishment in most states is 25% of disposable earnings. In a few states, wage garnishment is illegal and someone without assets becomes truly judgment proof.

Again, judgment proof generally refers to the ability of a creditor/CA to act on a judgment. In many states, judgments can last for 10 years with an option of renewal. If you don't give a sh*t about this and have decided to go credit free for the remainder of yoru life, then judgments are not necessarily evil. BUT, should you acquire significant assets in the future, the judgment could haunt you.

Hope this helps.

[jp2861]

Judgement Proof ... can the creditor garnish wages, seize bank accounts, place lien on home?

In some states like PA, other than taxes, child support, and a few others, wages cannot be garnished. In general a CC or CA cannot garnish your wages (noting PA only for my example other states have similar laws but I am not sure which). Additionally, some types of income (disablity, social security) are usually protected. If you don't own a home, they can't really place a lien on your home. Some states protect the homestead completely. You can close out a bank account and live cash only.

So, if there is nothing to garnish, seize, or place on lien, what does it matter if you have a judgement against you? There is nothing to take. Thus, Judgement Proof.

That doesn't sound like judgementproof to me...lol. Like someone else said, a judgement can be granted and last a long time, even without assets. Maybe execution proof would be a better verbiage.

[MomIcantFindmy]

Don't judgements get dismissed in BK?