Recent Posts

Pages: [1] 2 3 ... 10
1
Arbitration / Re: Amex Lawsuit filed in NJ....Help
« Last post by CleaningUp on Today at 06:58:50 AM »
Get him prepared for a court appearance...You're not going to be able to speak for him..
2
General Credit Forum / Re: Getting rid of the Milestone card
« Last post by CleaningUp on Today at 06:56:50 AM »
I have a Milestone card, needless to say it sucks and it costs $75 a year but it has served it's purpose. My question is should I close the account now and take the hit on my credit age, or keep it open? How long should I keep it open. I've had it for almost 2 years now.

See if they will transfer the card to another product with a lower yearly hit and a better interest structure.

If you are a steady payer, they wan't to keep you with a card.  There's a lot they can to to entice you to stay on.  If they don't then close the account just before the yearly charge gets added on.
3
Arbitration / Re: Amex Lawsuit filed in NJ....Help
« Last post by Bubbles on Today at 06:05:44 AM »
Really? Which is bad advice, might able to settle before judgement, Else, a judgment can eventually be settled, or both?

By the way, bear in mind that it is the boy, not mom and dad, that has so many years ahead to work and bring in a paycheck. Unless the family is extremely wealthy, it might be best to keep mom and dad whole, able to protect the family and themselves, and let junior have a civics lesson, such as a Chapter 7 bankruptcy, and start fresh as he goes out into the work world. The last thing the boy needs is huge debt payments for years after graduating, possibly in addition to student loans, probably interfering with relationships, and so on. Can you imagine the egg on your face if today thousands and thousands of dollars are used to pay off these dischargeable debts, only to have a default a few years down the road on student loans and no cash to do a bailout. Getting rid of these dischargeable debts right now has a certain appeal, no?


Quote from: Bubbles on Yesterday at 09:27:31 PM
Regardless, you might be able to settle before there is a judgment. Else, a judgment can eventually be settled, and 3 years down the road without creditor collecting zip sometimes makes for a good settlement.

REALLY REALLY bad advice.  The son is young and has DECADES of earning years ahead of him.  AMEX isn't stupid and isn't going to settle for peanuts on this one.  They are known for this stance.  My educated guess is that AMEX will play hard ball on this knowing he will get a job eventually and they can garnish his paychecks for years to come.

Mom:  I would keep trying to settle.  They may take something to be rid of it you never know.  I would not simply let a judgment happen and hope to settle it in a few years.  There are too many risks with that for such a young consumer.
4
Arbitration / Re: Amex Lawsuit filed in NJ....Help
« Last post by Clydesmom66 on Today at 03:26:02 AM »
Regardless, you might be able to settle before there is a judgment. Else, a judgment can eventually be settled, and 3 years down the road without creditor collecting zip sometimes makes for a good settlement.

REALLY REALLY bad advice.  The son is young and has DECADES of earning years ahead of him.  AMEX isn't stupid and isn't going to settle for peanuts on this one.  They are known for this stance.  My educated guess is that AMEX will play hard ball on this knowing he will get a job eventually and they can garnish his paychecks for years to come.

Mom:  I would keep trying to settle.  They may take something to be rid of it you never know.  I would not simply let a judgment happen and hope to settle it in a few years.  There are too many risks with that for such a young consumer. 
5
General Credit Forum / Getting rid of the Milestone card
« Last post by FilmoreFelix on Today at 03:05:26 AM »
I have a Milestone card, needless to say it sucks and it costs $75 a year but it has served it's purpose. My question is should I close the account now and take the hit on my credit age, or keep it open? How long should I keep it open. I've had it for almost 2 years now.
6
Collectors and Agencies / Re: Sewer Service - Default Judgment
« Last post by CleaningUp on Today at 02:32:30 AM »

The debtor can't carry on a non-stressful conversation without stuttering.  They are well and truly disabled with a major brain injury.  The only thing they have going for them is a bit of stubbornness and unlimited amounts of time.  Putting together pleadings and filings they can do.  Arguing a case in real time?  Depends on how accommodating the Judge is.  That could go either way, most of the Judges up there I think would be accommodating, it's not a culture that's going to appreciate an out of town creditor beating up on a local disabled person, but there's always that one Judge.....



The will be accommodating, but they won't change the law on representation.  If you think the lawyers in the area are of the Mayberry variety, it's pretty much a given that the judges will also have distinct Mayberry tendencies.

The longer you lead your friend down a path that doesn't include some sort of hired mouthpiece, the more difficult it will be for them because they WON'T BE PREPARED FOR WHAT THE NEED TO GET DONE.

And if she is claiming a "mental defect", the onus will be on her to establish it more than just stuttering her way through the first few sentences.

If this is REALLY a friend of yours, you need to get her representation.  Lawyers in the bigger cities DO travel to the outlying courts far more often than you think.  Why don't the two of you go sit in on a session or two at the local court and "audition" civil defense attorneys based on their performance in court.  If you like what you see in someone, you can approach them right there in the courthouse.

Don't sell your friend down the river on issues that the court is unlikely to buy.

At the very least, check out what NY State requires for power of attorney so you can speak for her. 
7
Sue on negligence without stating a statute, and see how fast the case gets dismissed.

Your "negligence" is bordering on the criminal.
8
Arbitration / Re: Back to JAMS after JAMS CLOSED CASE
« Last post by kevinmanheim on Yesterday at 11:49:11 PM »
What do the applicable JAMS rules say about amending the answer?

If they allow it, you need to point to that rule and ask the arbitrator to allow it.

9
Collectors and Agencies / Re: Sewer Service - Default Judgment
« Last post by delandra on Yesterday at 10:27:42 PM »
You should note that Colorado and Washington are even MORE creditor friendly than NY.  To assume the judgment would be worthless if the debtor leaves NY for another state is wrong.  ALL the creditor has to do is domesticate that judgment in the new state and they do not need a new trial they can go straight to garnishment and bank levy.  Domesticating a judgment is as simple as recording it with the court in many states.  No trial or hearing needed.  If this settlement is as large as you say do NOT assume the creditor doesn't know of it and is simply waiting to pounce.

I assume nothing.  I think it unlikely that they know about the PI lawsuit, for various reasons (no online court records, no press coverage, no CRA activity, out-of-state national JDB, etc.) but it's clearly possible, which is why I've taken the steps I have to minimize unnecessary information exposure in this thread.

I know all about domesticating judgments.  Did not assume the judgment was "worthless" if the debtor leaves NY, only pointed out that they may seek to leave NY for reasons unrelated to the judgment, to see if that changes any of the information I receive.

The judgment is currently worthless because the debtor has no non-exempt assets.  I believe it will remain worthless if their settlement is structured appropriately.  I also believe they can probably get it vacated without a huge hassle, though that leaves a pending suit to contend with, which may be as simple as a SOL defense or as complicated as filing a meaningful answer and making them prove their case.  That all remains to be determined.
10
Collectors and Agencies / Re: Sewer Service - Default Judgment
« Last post by delandra on Yesterday at 10:17:53 PM »
Either debtor remains judgment-proof, or has a lot of money and would hardly miss a few thousand dollars (which is actually owed, remember!) - what's the big deal?

Err, are you serious? (emphasis mine)

Even if there was an OC that was actually owed money at some point and even if it's still within the SOL, we don't pay JDBs on this site, unless it's in exchange for an item of tangible value (pay for delete, assuming you want back in the credit "game," which doesn't apply here) or as a final resort if they can prove their claim in court and haven't committed any violations to give the debtor leverage.  Even in that (rare) scenario the debtor still attempts to negotiate a favorable settlement, PFD and/or less than 100% of the claimed amount.

In this case, I don't think the gravity of the debtor's situation has registered.  They will never work again.  That was taken away from them through no fault of their own.  They stand to get -- at best -- a low six figure settlement, call it a quarter million, before the lawyers/public assistance/everyone else takes their cut.  They somehow have to find a way to live off that for the rest of their life, combined with the pittance of SSDI money.

Why get yourself in a tizzy over such a piddly lawsuit?

I'm not in a tizzy over the lawsuit.  This is primarily information gathering, fishing for new ideas, things that I may have overlooked, or presumptions of mine that may be inaccurate.

I am somewhat annoyed with some of the comments in this thread, the site that contains advice which was banned from other credit forums now condones "Which is actually owed, remember!"  Shaking my head at that one....
Pages: [1] 2 3 ... 10
credit