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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 - Sued by original creditors for credit card debt

Expert: Creditwrench - 11/16/2009

Question
Hi! I live in Illinois, and I was sued by Chase, Discover, and Citibank for credit card debt. I was served on the Chase lawsuit, but I just learned about the other two by running a search on my county's website. I have done a lot of web research on how to properly respond, but most of the information on how to win refers to lawsuits initiated by a purchaser of the debt, and not by the original creditor itself. All three accounts were recently charged-off, and the debt is new. I am trying to evaluate what are my chances of winning these lawsuits, if it's really worth the battle, the research, the money, etc. They are not the only creditors to whom I owe money, and I have a total debt of about $70,000. I would like to do the right thing by at least settling the accounts if not paying in full, but right now I cannot afford to do that. I am self employed, and I have some money in business accounts, and I would also like to know if they can touch business accounts after/if they obtain a judgment against me. On the other hand, I would qualify for a Chapter 7 BK. I'm trying to evaluate whether it's worth the energy to go against original creditors, or if I should just file for bankruptcy. Thank you for your effort in responding to our questions; I have found a lot of useful information in your answers. Thank you.

Answer

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Filing BK is never a good idea. Too expensive and too many problems that can't be resolved by BK. First you need to learn how to respond to those lawsuits even though you probably can't lose because by fighting you can come up with FDCPA violations and sue the lawyer and the plaintiff and beat them that way. You say the plaintiff is the original creditor??? I wouldn't bet on that if I were you. Even though the lawsuit says the plaintiff is the original creditor most of the time it is a 3rd party debt collector acting in the name of the original creditor. They can do that with no problem even though it is deceptive. I can teach you how to do all of the necessary things to eventually win the war even if the local battle is lost. Not a problem but I'll have to know a lot more about each case than you can tell me here.

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