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What does the Discovery contract say about when an account goes into default.

Use their definition to establish when the SOL clock began to run.

The notice I got was from ConServe. They are going after a credit union card I had. Discover Card got the judgement in 2015. I would think the other debt collector, for another card, would know this. Maybe third party debt collectors don't take the time to look at a person's assets or if they already have a judgement against them for a different card.
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Arbitration / No word on Arb status
« Last post by ~Kathy~ on Today at 12:20:05 AM »
I filed for Arb back in late November because Synchrony filed suit against me.  At some point last spring the Arb was stalled to allow  for negotiations initiated by Synchrony.  This ended up being a shell game with no outcome.  I have been back to court and more time was extended for the Arb.

In the meantime I have heard nothing from either Synchrony or JAMS since last spring.  Now I'm back on the docket in early October for an updated on the Arb status. 

I'm going to contact JAMS for an update, but I'm really in the dark as to why JAMS hasn't moved this along, and what I should be asking as I prepare to go back into court.

Thanks for your time.
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What does the Discovery contract say about when an account goes into default.

Use their definition to establish when the SOL clock began to run.
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I have 30 days to respond. I'll do that in about 2 weeks. By that time it will be 30 days after my last payment. I already have one judgement against me from Discover Card. They haven't gotten anything. I don't know what they think they will get. I have nothing they can take. The lawyer for Discovery Card told me that when they got a judgement.
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General Credit Forum / Re: Sent letter to stop calling..now what?
« Last post by Flyingifr on Yesterday at 08:08:29 PM »
thing is fist.. my health issues are getting worse. doctor said ill be on disability for quite a while

Obviously your heath issues trump everything else. The delinquency just started a couple of months ago, and in any debt the most intensive collection efforts are in the beginning of the delinquency. Six or so months from now the calls will be far fewer than they are now. That's just the way it is - they drill hard in the beginning to scare the money out of you.

There is no law that says when they call you must answer. Let the phone ring, send the call to voice mail, forward it to the White House, do whatever you want with the call. Right now you are pretty much uncollectable. If you think they will just say to you "sorry to hear about that, I'll get back to you in another 6 months and see if you are any better" - here's the news flash. They won't. Not until it has been a couple of years since the last payment.

Go to the Flyingifr Method - you have a LOT of reading to do. I suggest you start with the following threads:

Why the Flyingifr Method
Litigious? Read This First
The OC's Collection Department
Understanding the Collection Agency
Understanding the Junk Debt Buyer
Now the Fun Starts - They Have a Lawyer
In a Hurry to Settle? Read This
Chain of Custody - the JDB's Achilles Heel
Making Yourself Judgment Proof
Frustrating the Skip Tracer
Protecting Your Bank Account
Debtor's Exams

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General Credit Forum / Re: Sent letter to stop calling..now what?
« Last post by sticksandstones on Yesterday at 07:45:09 PM »
thing is fist.. my health issues are getting worse. doctor said ill be on disability for quite a while
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Original Creditors / Re: Creditors with Memories of Elephants
« Last post by Flyingifr on Yesterday at 07:43:58 PM »
It has been 6 years since the last post on this thread. In that time my credit took another deep nose dive then came back. Right now my 3 FICO-8 scores are 760+/- 10 points - respectable.

I did Amex's pre-qualify at the urging of several people on the FICO boards - Nope - Amex still will not approve me. This is because my FATHER stole my identity 50 years ago to get an Amex Card and stiffed them. Dad has been dead since the mid 1990's. Twenty years ago I tried to straighten it out and show them that it wasn't me - I was a teenager when it happened. No dice then, no dice now.

I guess a couple of hundred years from now my great great great great grandchild Flyingifr Jetson will get out of his spaceship and try to get an Amex card and will get told "nope - you had an ancestor some time in the Pleistocene Era who stiffed us......"

Given this history, I guess NOT having an Amex card is more a badge of accomplishment than having one - not everyone has been on their Sh*t list for a half a century.
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It took a little digging to find this, but it is a really good read that I think people here will enjoy. I'm only about half-way through it.

http://files.consumerfinance.gov/f/documents/201709_cfpb_national-collegiate-student-loan-trusts_proposed-consent-judgment.pdf
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If debt is time-barred, dunning letter should state as much, with a statement that they won't sue.

Make sure you know when these actions accrue in CA. If accrual is date of default, which I think it is for breach of contract, then that might be some 30 days after last payment, extending SOL into October. Be careful!

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Other Interesting Stuff / National Collegiate Student Loan Trust in Hot Water
« Last post by rld003 on Yesterday at 07:09:35 PM »
Whacked by the Consumer Financial Protection Bureau for suing on accounts they can't prove they own. Watching this one closely as I have a number of loans held by them.

"The consumer bureau ordered National Collegiate to hire an independent auditor to review all of its 800,000 loans. The trusts will be prohibited from collecting on any loan on which they cannot prove that the borrower legally owes them the debt."

https://www.nytimes.com/2017/09/18/business/dealbook/student-loan-national-collegiate-trusts.html

The NYT originally reported on National Collegiate's issued back in late July.
https://www.nytimes.com/2017/07/17/business/dealbook/student-loan-debt-collection.html

One more link to add which has a lot more details.
https://www.consumerfinance.gov/about-us/newsroom/cfpb-takes-action-against-national-collegiate-student-loan-trusts-transworld-systems-illegal-student-loan-debt-collection-lawsuits/
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