WWR just recently called me about a business debt, and the company is now dissolved. They were trying to get information so they could sue me, and have me served. I politely explained to them how the business was dissolved, along with all non guaranteed debts.
The secretary of state was slow to list my business as dissovled, so they kept calling, and I just explained, "yes, you have to pay thousands of dollars to dissolve a company, or you just wait for the secretary of state to dissolved it within the six months, doesnt change the fact the company doesnt exist anymore. "
The lease was up on the corporate address, and there is no address any more.
some stupid young attorney called the number on file, and was pretending to be a client, demanding a meeting even when I said the company didnot exist anymore. so to goto another company. She was really stupid.
My point is, its good to talk to your creditors, and just have the account drag on and on and on. By the time it gets charged off, the original creditor will send you letter regarding a pending lawsuit. Its been my experience when they say they are going to sue, they actually sue, while other debt collectors use vague innuendo language trying to threaten a lawsuit, without actually saying it.
If you get an innuendo letter, they probably wont sue, but you are not out of the woods. If an attorney buys the debt, its their intention to sue you, they just have to look at the file and decide if you are worth going after. Again, talking to them, and stating how the account isnt yours, or whatever, is usually enough for them to goto another file.
I really think had I not talked to WWR, they would've put more effort into suing me.
So that is my advice.
1) talk to your OC, and drag the account out, but dont offer to make payments, just tell them you dont have any money, as you are waiting on some unpredetermined event to get it. LIke you are currently looking for a job, and you cant answer that question of when a payment will be made. That will keep the account on the creditors books longer, and the account will get old, making it less appealing to buy.
2) if you get a letter that directly says something about litigation, (ie, take this offer to avoid litigation) or sometimes they sue you first, and then send you letter, (pay this or we will sue), then get ready to goto court.
3) if you do get a call from a law office, talk to them, and make a case for it not being worth their time to sue you. Use a very calm and matter of fact voice. Like when the first WWR attorney called, and he was trying to be bully, I just said, "yeah, read the laws on dissolution, (yawn)and you find out what I mean, this matter is resolved already" and he says, "OK, will tel lmy client" and I say, "your client already knows" They really wanted to sue, becuase it was a business line, that the bank cut off, and then they accelerated the payments on it, stupid...
I think I avoided a lawsuit by talking to them.