Collections Law/repossesion

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Expert: Regan Shinski - 10/25/2010


Question
Hello. I have a question? I currently live and work in
nc. I've had a vehicle repossed in va where the loan
originated from. I've just recently received a letter of
possible judgement if I don't reply in 30 days. Of
course I don't have the 8,000 they are asking for.  
I've heard that the state of nc doesn't garnish wages
but since it started in va that may not be the case. I
don't want to file for bankrupcy but feeling like this is
my only choice. Please help!

Answer
Hi Vivian:

I'm a little short of information I need to fully answer your question, so I'm going to do my best.  Please reply if I am not correctly accessing your situation.

The biggest point is "were you served" or "are you being sued?"  If you actually received some type of summons to a court proceeding, you need to reply somehow.  The most logical step would be to reply and say you live in NC and you object to being sued in VA.  Ask for a dismissal (ideally) or at least a change of venue.  In general, you have the right to be sued in a nearby jurisdiction.  Make sure the COURT, not the plaintiff, states the date has been cancelled or dismissed.  This should at least buy you some time.  

If this is not an actual court proceeding, I really need to know what it is.  Contact me again through www.ficofighter.com with the specifics.  I have seen collection agencies use tactics like this to gather information or make you pay, so I really need to know exactly what you received or is going on.

Be comforted that NO State can garnish wages without a judgement in place so it is imperative that you do not ignore it if it is a court proceeding.  NC garnishment laws, not VA's would apply if it got to that point but your goal is to avoid that anyway :)

I cannot speak to the bankruptcy issue at this point.  Bankruptcy should be a LAST resort and you are not there yet.  Additionally, $8,000 is not a huge amount.  I know it sounds like it, but when you consider you may be able to settle for much less, maybe even fight it down to zero, and you would have to pay a bankruptcy attorney up to $2,500 or more, $8,000 bankruptcy may not be such a good idea.

Good luck, please let me know how it turns out,
Regan

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Regan Shinski

Expertise

I can answer questions on collections, repossessions, bankruptcy, credit repair, credit counseling, FICO scores, credit planning, and the cause and effect of credit related decisions. I can also answer questions on collection settlements and preparing to sue your creditors for false debts and credit credit reporting.

Experience

Fifteen years ago I was financially devasted due to severe health issues. I filed bankruptcy, had a foreclosure, car repossession, tax lien, and ruined credit. I immersed myself in credit law. I settled dozens of accounts and had them removed to improve my credit. I personally sued four creditors and collection agencies and won cash settlements for their false reporting on my credit reports. Since then, I have completely recovered and have nearly $100,000 in revolving credit lines and perfect credit. I have owned a credit repair company for the past five years and have an additional three years of specific work in the collections and debt management industry. I am fully versed in the Fair Debt Collection Practices Acts (FDCPA), Fair Credit Reporting Act (FCRA), and have used them successfully in collection settlements and lawsuits for myself and others. I am also familiar with and abide by the Credit Repair Organizations Act (CROA). I have deleted or helped delete literally hundreds and hundreds of derogatory items from consumers' credit reports and helped negotiate many settlements with collection agencies and creditors. I have also advised people on bankruptcy at any stage. In the current credit market, I have successfully advised numerous people on how to obtain credit and how to negotiate for better terms.

Education/Credentials
BA University of Minnesota

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