Asset Acceptance, Hate Them

[salsa]

It's really a shame in this country that these JDB can inflate balances, take you to court, not accept reasonable settlements... So I will likely have a judgment filed in the next week or so. I offered a 30% settlement of the inflated balance, and no. So I don't know what I'm going to do. If it weren't for my daughter I would have filed a long time ago. But she has horses that she shows and it would completely be devasting if that ended. Not sure where to go from here. I am consulting some bankruptcy attorneys later this month. I'd rather quit, file a 7 in 5 months and be done. The world ending, wish it had..

[IHateToBeEmo]

It is awfully tough when you have children. You don't ever want to let them down. You want to shield them from pain.

You're in a lot of pain yourself right now. I hope you find a solution you can live with. Good luck!

[IamOld]

I'm right there with you - (the post office has totally almost messed me up - long story different thread). I often feel that way - BUT I keep reminding myself about the kids :-)

I take it the horses are in your name as your child is a minor?

Re judgement - may I ask how much it is for? GO TO COURT - ask for a trial (if you can) - if the judge asks why (as they sometimes do in my state) say that you a) dispute the balance, b) want opposition to show who the debt is for, etc., c) you though you reached an arrangement with them, and you want it sorted out at trial...IF they set another date, you may find the opposition a bit more...pliable...

It's really a shame in this country that these JDB can inflate balances, take you to court, not accept reasonable settlements... So I will likely have a judgment filed in the next week or so. I offered a 30% settlement of the inflated balance, and no. So I don't know what I'm going to do. If it weren't for my daughter I would have filed a long time ago. But she has horses that she shows and it would completely be devasting if that ended. Not sure where to go from here. I am consulting some bankruptcy attorneys later this month. I'd rather quit, file a 7 in 5 months and be done. The world ending, wish it had..

[salsa]

Judgment will be for almost $39,000. I've done all the fighting I can of it. It was initially filed 07/2010, so I have prolonged it this far.

Horses are in her name, but she is a minor. I have all my husbands accounts settled except one, which are with these same people. Still working on that one. I can live with garnishment of my wages, and may need to until she is 18(another 1.5 years), then do something different. Not sure what I'm going to do at this point.

[IamOld]

Right, and minors can't "own" the horses...DEFINITELY talk to a bk attorney...because they could ultimately also garnish your bank account...and potentially "attach" the horses...I hate to say it but even a ch 13 may be preferable....

Judgment will be for almost $39,000. I've done all the fighting I can of it. It was initially filed 07/2010, so I have prolonged it this far.

Horses are in her name, but she is a minor. I have all my husbands accounts settled except one, which are with these same people. Still working on that one. I can live with garnishment of my wages, and may need to until she is 18(another 1.5 years), then do something different. Not sure what I'm going to do at this point.

[salsa]

Gosh I hope that doesn't happen, didn't even realize it was a possiblity. I would find the nearest bridge and jump then.

[IamOld]

Gosh I hope that doesn't happen, didn't even realize it was a possiblity. I would find the nearest bridge and jump then.

As much as I would say the same thing...please don't even contemplate that - you've fought the good fight - do not give up do not let them win!!!!!!!!!! And most of all, you child needs you, your family needs you!!!!!!!

TALK to the lawyer SOON!!!! if you can get an appt like NOW go - have someone look over your situation - a skilled lawyer can see things where others may not!!!!!!!!!! - like I said, Ch 13 is better (less bad :-) than dealing with those cockroaches at the collection agency (and I did not mean to insult any insect life form by comparing them to collectors!)

(Ok do you want to read about STUPID CRAP - here is my tale - may make you laugh or cry I don't know, but it I think will make you laugh http://www.bkforum.com/showthread.ph...t-during-Ch-13

[daxtell]

i can totally sympathize with you. asset acceptance made my life HE**. before i filed bankruptcy they bought my 3 amex accounts and 2 other dept store ones. and they got a judgment and garnishment on the highest amex one which was so embarresing. but it stopped the week i filed bankruptcy. i do not think you have to worry about the bank account being frozen unless they did not already have wages to garnish. i think they would go after the bank accounts if they had no other means of collecting.

[ValleYum]

salsa, you may be surprised about how your daughter would react if you had to file a bankruptcy. At 16 (from your previous post), she is old enough to understand that debt is eating your family alive.

Have you even broached the subject with her? My daughter had/has horses that she loved and helped her get through her emotional, turbulent teen years relatively unscathed so I do understand. But sometimes we do have to make sacrifices for the greater good - even our children need to understand that.

I wish you well.

[IamOld]

Very wise Valleyum - post BK you can...be free...and truly be there for your daughter!!!!!

salsa, you may be surprised about how your daughter would react if you had to file a bankruptcy. At 16 (from your previous post), she is old enough to understand that debt is eating your family alive.

Have you even broached the subject with her? My daughter had/has horses that she loved and helped her get through her emotional, turbulent teen years relatively unscathed so I do understand. But sometimes we do have to make sacrifices for the greater good - even our children need to understand that.

I wish you well.

[Sariah]

Trying to understand. A minor with a driver's license can own a car and it be in completely in their name, why not horses???

[IamOld]

Good question and good point - I think it's really up to a good lawyer to see if there can be a differentiation made. Thing with a car is that it is titled with a legal owner...again I think this is a lawyer question...

[catleg]

Horses are titled?

If there is no judgment in existence yet, I would transfer them to a friend or relative. Post-judgment, I think there are legal issues.

[LadyInTheRed]

I'd rather quit, file a 7 in 5 months and be done.

Do you mean you are considering quiting a job to qualify for a 7? A Chapter 13 is not the end of the world and allows you to keep your assets. The Chapter 13 forum is full of threads about how people are doing just fine in a Chap 13. I'm 1 year into a 13 and have much more money to spend than I did before filing and am saving money. Many others would tell you the same. The key is to hire a good attorney who will get you into a livable plan. Please learn more about a Chap 13 before deciding it is out of the question.

[catleg]

It sounds like you settled your debts from smallest to biggest. Now the last one smells blood and won't play nice.

Chapter 13 might result in them getting 100% on their claim -- unacceptable.

You may need a lawyer to fight them; the classic thing is using FDCPA violations to cut them down to size.

That is a large claim. I understand your desire to file chapter 7 and be done with them. Just be sure to protect the horses.

A lot depends on what state you live in, what the wage garnishment laws allow, etc. Like I said they probably smell blood if they rejected 30% lump sum.

If you can make the judgment hard for them to collect then offer a payment plan to cover 50% over time that might work.

These people are just plain greedy, bottom line.

Oh, one other approach to take, see if the law firm suing you is affiliated with the JDB. Here in NJ I have seen lawsuits involving a JDB/law firm combo where the defendant attacked unreasonable attorney fees on that grounds. There are apparently state laws regulating this sort of thing.