Original Creditors vs JDB and lawsuits

[airahcaz]

If a cc debt has been sold to a JDB and then sold again to a JDB, it is fair to say that the 2nd or 3rd JDB does not have the legitimate paperwork, original contracts, etc.

1. Most suits are filed by Original Creditors (OC's), correct?
2. Thus, is it a fair statement that majority of the time or all of the time that these 3rd party collectors are in the business or harassment but not civil lawsuits?

[DYLAN150]

About a month before I stopped paying my credit cards, I requested a copy of the original application from each creditor. ( 8 in total). Now 90 days later I have not received one. Of course some of these go back 9 years. I do realize that most people don't show up for court but I might not be of of those. I am starting to wonder if the original creditor's even have copies if some time has gone bye. One bank was WAMU now Chase. BTW, I had one attorney tell me that most of the time they (JDB) don't show up in court with all the proper paperwork to prove their case.

[nodollarsnomo]

I was sued by Citibank a couple of weeks ago and I spoke with an attorney who said that Citibank keeps very good records, so the hope that they would send an attorney that did not have all the paperwork to prove their case was highly unlikely. Citi did not turn the account over to a JDB I am being sued by the OC.

[Bell30656]

I was sued by NEMDEGELT (a JDB) on behalf of Ugly Duckling Used Cars and by NEMDEGELT (same JDB) on behalf of Bank of America. During discovery I got lots of documents including copies of where they purchased the portfolios. They did have plenty of documentation from the OC. However, they were missing many items too. I think they would have lost had the cases went to court.

[discombob1]

I have to ask... is it really true that they need that paperwork to win? I've heard many people say they lost regardless of the OC having spotty paperwork.

[DYLAN150]

discombob1: I don't know but will most likely find out.

[airahcaz]

I was sued by NEMDEGELT (a JDB) on behalf of Ugly Duckling Used Cars and by NEMDEGELT (same JDB) on behalf of Bank of America. During discovery I got lots of documents including copies of where they purchased the portfolios. They did have plenty of documentation from the OC. However, they were missing many items too. I think they would have lost had the cases went to court.

how did your case end up?

[discombob1]

Dylan, if you haven't already search the forum. I was also sued but it was by a JDB. Actually, I had three creditors sue and all were JDB's. I remember doing a lot of reading on lawsuits before I filed. There was a lot on the forum IIRC.

[airahcaz]

Dylan, if you haven't already search the forum. I was also sued but it was by a JDB. Actually, I had three creditors sue and all were JDB's. I remember doing a lot of reading on lawsuits before I filed. There was a lot on the forum IIRC.

Sorry, what is IIRC and how did your lawsuits end up?

[DYLAN150]

discombob1: I am not filing for bankruptcy. I am pretty much collection proof, I do have a house but the equity is disappearing daily. They can't garnished me or get my bank accounts. Besides I am an old man and will ride it out. I mean, I wish I could file for chapter 7, but I fail the means test each time. I am sure the lawsuits will becoming. Besides I live in Washington state and the homestead act protects 125k of equity will I will never see in these times.

[discombob1]

Sorry, IIRC = if I recall. I gave a consent judgment on one, the other two were stopped by the BK. The first judgment is also worthless. I am about to file to vacate it, here in MI it's a simple process.

[IamOld]

discombob1: I am not filing for bankruptcy. I am pretty much collection proof, I do have a house but the equity is disappearing daily. They can't garnishment me or get my bank accounts. Besides I am an old man and will ride it out. I mean, I wish I could file for chapter 7, but I fail the means test each time. I am sure the lawsuits will becoming. Besides I live in Washington state and the homestead act protects 125k of equity will I will never see in these times.

Dylan150 - may I ask - how are you garnishment proof? How can you protect your bank account from the judgments??? I would really REALLY like to know...please...

[shark66]

Make no mistake: a JDB will sue in a heartbeat if they believe that there's something to collect.

Because if they don't sue, they will be SOL once the real SOL hits...

Good luck to us all.

[DYLAN150]

IamOld: Ask away please: I took my money out of my accounts. My social security now goes to the Mastercard express card. My other checks are hardcopy to my home. I know the law says that social security, veterans benefits, and military retirement are exempt funds, I am not taking any chances with them. So there is no pay check to garnish. I never leave much in a bank account for them to take or try to levy. However, I have not been sued yet but know it will happen sooner or later. So what are they going to take? I visited a collection attorney here in town and asked him what one of these companies could do and he said pretty much said nothing but call me 24/7, sue me and file a lien on my no equity house. Car is a lease.
Washington state has a homestead act which protects up to 125k of equity in case the home market ever rebounds.

[Bell30656]

The first case by NEMDEGELT was served to me in November 2007, the second was served in February 2008. Neither case made it to court by the time I filed bankruptcy in December 2008. I went to my local courthouse, looked up cases similar and made copies of the filings (Answer to complaint, interrogatories, motions) then adapted them to my case.