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About Creditwrench
Expertise
Debt Collections law, Fair Debt Collection Practices Act (FDCPA), Fair Credit Reporting Act (FCRA), federal law, how to properly answer court summons for collection cases, how to prepare federal cases against debt collectors, how to deal with debt collection phone calls.

Experience
I've been an active consumer advocate for more than 40 years and have helped hundreds of people win cases against debt collectors as well as helping them defeat demands for summary judgment lodged against them by banks, debt collectors and defeat mortgage foreclosures and keep their homes.

Education/Credentials
Paralegal courses for the most part.
I have been teaching people how to deal with judgments, mortgage foreclosures and other such problems both on and off the internet for many, many years. I am a Richard Cornforth information provider ever since 2000 and worked with many other organizations and causes since 1980. I was Oklahoma State Chairman for the nationwide drive to defeat the Constitutional Convention which was proposed by various factions within our federal government such as the Council of State Governments and the National Organization of State Governors who were working hard to organize a Constitutional Convention to be held in 1995 for the purpose of rewriting our American Constitution to be more acceptable to the United Nations. I worked with Senator Charles Duke of Colorado and Senator Don Rogers of California and many others across the nation to keep them from getting the number of delegate states required to lawfully hold a Con-Con and we were successful. I have worked with many other legislative issues in Oklahoma and have always been very successful.

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Collections Law - Old .. BofA account that I thought was long gone!

Expert: Creditwrench - 11/15/2009

Question
Hello..... Im worried sick about this. I had a 3000 Dollar credit card from Bofa. Six years have gone by and I thought they were neveer going to come for me.. I was wrong. I recvived a call Today from a company Asset @ capital Management.( out of cali.) They stated that They were going to summons me and they are trying to find me..I started asking what he could do for someone in my position , and he said that He could settle for 1000.00 today// I dont have that kind of money/ Collector replied "in the next 15 days then,Thats your only option."
I just moved,Sold my house ( Short Sale ) .. Took a huge paycutt// Making about 32k a year I was making 65k a year/ Im 30 years old 3 kids,I just applied for food stamp and was approved for 200 Dollars..I live in Arizona .. My Q. is... If I dont have the resoures to come up with this Monies.. DO I need to find a way??? or will a judge see that Im working 50 hour work weeks to keep my lights on .. and be simpathedic??I need some good advise. Please

Answer

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Six years have gone by since you made your last payment to the creditor? Arizona statute of limitations is 6 years so if it has been more than 6 years since you made your last payment to the original creditor then you don't legally owe the debt any more. I had that same company call me last Monday morning about a credit card I defaulted on and they said the last payment was made in 2001 although they didn't say what month or date. I told them to send me a letter and they had 5 days to do that. Their 5 days is up and still no letter. So that is their first violation of FDCPA. I don't know how long it is going to take them to get me that letter and I really don't care. The longer the better. Statute of limitations in Oklahoma is 5 years so I'll just play along with them for a while and hope they get stupid enough to sue me for the debt. I'll end up begging them to do just that. Then if they don't I'll see if I can't force them into a lawsuit. They called me Tuesday again but I was in Wal-mart at the time and couldn't take the call and anyway didn't happen to have my recorder with me so that was another reason I didn't want to talk to them. If and when I get the letter I'll send them my debt validation letter and see what happens with that. I'll only give them 30 days to respond and then I'll send them my new estoppel letter. Fifteen days after they get that I'll follow up with my payday letter and 15 days after they get that they will get my intent to sue letter. That will be a full blown federal case all ready to go to federal court on their violations. I expect they will ignore that too so I'll just go file it and see what their response will be. Naturally they won't have any defense so they will lose and will end up paying me to go away and leave them alone. And of course, I'll also be hoping they sue me in local court because if they do that I will get it dismissed very easily. Then that will become more ammunition I can use against them in federal court. You can learn how to do all those things too and very easily. You don't have to worry about how sympathetic a judge will be. They will have to worry about that. I doubt they will get stupid enough to file a case against you but they might thinking you don't know any better than to fall for their nonsense and pay them. Above all, don't even agree to pay them any money or the payment might just ruin your chances of winning in court.

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