Been lurking so finally going to ask. Anyone get sued prior / during / after filing (I am thinking not after filing but you never know)? Stopped payments in mid Feb on cc and personal loan debt. Paying student loans, car payment, rent on time. Wondering how long till the nice letters stop and should I just let Capital One know I have retained council, paid in full and planning to file shortly or just keep quiet.
I concerned about a creditor getting a judgement and me not know about it. I am concerned about being sneakily sued...it happened to me with ex landlord who violated our lease in 2017, wanted us to stay and show the house for sale but would not allow us to move out till he found a buyer - not kidding - so we gave him proper notice that we were leaving (very competitive market) and he ended up suing us (lied and said he mailed the stuff, he did not...we have a po box and they know us and THEY LEFT IT ON THE COUNTER and they happen to put it in my po box - ALL OF IT ...I am not... keep reading on reddit ➡
Per the title, I just pulled my credit report and some of my lenders haven’t reported since March or April. I’m actively trying to build my credit so I have a couple questions:
Is the lack of reporting (since all payments are made on time) hurting my score temporarily?
Why is has my car loan (for example) not reported activity since March? Covid?
I bet you any money Jenelle took out money in advance with many creditors? What would you think she currently owes? And what she could pay off ?
I'm at a loss as to what to do here. I had an old medical bill from about three years ago when my husband had a terrible job and no insurance. It was for around $242. It went to collections, but the debt collector is pure, unadulterated evil. I've had awful collectors, but this is some next level shit. And it's gotten . . . complicated.
So right off the bat, 2018 when they get the debt, they were just wild. Wouldn't return calls, really odd on the phone. Hostile, strange, erratic. We get the money together to pay it. Then they serve us papers. But the papers say "this is an attempt to collect a debt". We've been served before, not by debt collectors, and the papers don't look like this. Also, the person who serves us says, "Oh, wow, you better just try to settle!" Not professional. But, OK, so we call them and talk to their lawyer. We say, ok, we will pay off the debt, stop the lawsuit. But they say the next day is the trial? Uh, OK. They say we don't have to show up though, it will b... keep reading on reddit ➡
I know the typical payout order in a bankruptcy liquidation and secured creditors come before unsecured creditors. But what happens if the assets the secured creditors use as collateral are sold and not worth as much as originally assumed? Do the secured creditors only get what the assets backing them are worth and then the rest is lumped in the the unsecured creditors? Or are the secured creditors completely made full before moving on to the unsecured creditors?
Also, do bondholders only receive the principal (assuming liquidation has enough to cover complete repayment of creditors) or do they receive the principal and future coupon payments that were supposed to be made? Thanks, dont have a ton of experience with bonds.
So basically I have 2 accounts that amounts to approximately $2000. The first agent I spoke to said he’d cut it at 50% ($1000) and offered a pay to delete.
Well I called today to ask him for all this in writing and his extension wasn’t working. The phone transferred me to another agent. She told me he was off today and asked me for the details of our deal. I let her know what’s up and she immediately said they don’t offer pay to delete.
The best they could do was offer 50% off settle and the “forward a request for deletion” but didn’t say who she’d be sending it to. I said to just forward his info over to the original guy and have him call me when he comes back in.
What do you guys think?
Hi everyone. I'm on day 55 of my chapter 13.
So far the IRS and two Capital One credit cards filed claims (plus the mortgage and both cars but we're paying those outside of the plan). My bar date is 6/23. I'm just wondering if it's normal for creditors to take so long to file their claims or if this is any indication that the (many) missing creditors are not going to file claims.
I guess I'm looking for anecdotal info for anyone else who went through a similar situation with their chapter 13. Did they file claims until the last day or if they didn't file at the beginning they never got around to filing?
Dave says to send the payment to creditors via money order in the mail. Is there an easier way to do this? I don’t mind doing this but was wondering if there was another way someone has found.
By creditor insurance, I mean insurance for the amount you owe to the bank. Coverage would include death, critical illness, disability and involuntary job loss.
So my wife and I filed for bankruptcy over two years ago. When we filed, i gave our attorney documentation of every debt we owed including a civil judgement that was pending. In 2018, the lawyer in the civil judgement reached out demanding payment which i responded to with our lawyer's info and bankruptcy case number. They never responded back. Today i got another demand from the lawyer on that case. Again i gave them my lawyer's info and stated we filed for bankruptcy and CC'd my lawyer. My lawyer asked when the debt was incurred and the other lawyer said 2018 which i corrected using documentation they sent me in 2017 a month before we filed. My lawyer called and said he did not include the judgement in the filing because I didn't tell him to which is absolutely incorrect as that was one of the driving factors to file in the first place. He says it would take a lot of work to dig up all the files i gave him and if we wanted him to re-file, he would bill us again. Is this right/... keep reading on reddit ➡
Sometimes creditors check credit files from time to time, but do banks check chexsystems or ews from time to time even if the account is opened?
Hi everyone ,I have to calculate the creditors turnover ratio, but since the financial statements do not have credit purchases or bills payable ,I’m not sure how to go about this?Income statement balance sheet
Hi everyone, I bought a truck with a business partner using my credit but we stopped making payments and Wells Fargo eventually charged off the account but has not repossessed the truck. My credit score took an obvious hit but I've repaired it significantly since then. At one point I noticed my score went up another 30 points and when I checked why I saw that one report changed the status to from "Charged off" to "Paid", all three reports state a $0 balance on the loan, and nearly 2 years of missing payments where reversed to "on-time", excluding the first 2 months we stopped paying.
Is it possible they sold the debt but I haven't heard from who owns it now for whatever reason? I understand there are different kinds of charge offs, and if they forgave the debt I would have received a 1099. Is my best option to just call and see what they plan on doing with the truck? The previous balance before this was roughly $11,500
Thanks in advance for your help
To keep this brief, I relapsed a few months ago and neglected an account and it ended up costing me 100 points on my transunion and equifax report. I wrote out the whole story in another post if you wanna read it.
I’m wondering if saying that I have schizophrenia would help with getting the late mark forgiven. It’s the first late payment on my whole credit report, so I think I have a decent chance but I’m not sure if mentioning schizophrenia will work with me or against me. I’m worried they’ll be more harsh and even put a note on my account or something. But I also know things are a lot more progressive now and that it’s possible they will be more lenient because of my diagnosis.
Does anyone have any experience with this? The creditor is chase bank and it’s the Amazon credit card to be more specific.
full text of press release below:
AG Yost Warns Debt Collectors: Stimulus Checks Protected by Ohio Law
(COLUMBUS, Ohio) – Ohio Attorney General Dave Yost today alerted creditors and financial institutions that COVID-19 stimulus checks are protected under existing Ohio law from bill collectors and exempt from state and federal attachment, garnishment or execution.
“The stimulus checks were intended to be used during an emergency – to put food on the table, keep the lights on, and a roof over our heads,” Yost said. “It wasn’t meant to pay off an old bill.”
Yost said he is sending notices to relevant entities as well as posting the notice on his website. He pointed out that Ohio Revised Code 2329.66(A)(12)(d) applies to payments under the Coronavirus Aid, Relief, and Economic Security (CARES) Act:
>A payment in compensation for l... keep reading on reddit ➡
Not a legal question - just wanted to know if anyone else experienced this. I have already contacted my attorney.
I have been in Chapter 13 since last August and have been making all payments. It is a 100% plan. I was just served at home by the local Sheriff’s office regarding a debt that I included in my Chapter 13. The company had filed a claim and I see that they had actually started receiving payments from the trustee as well. I know I am protected by the automatic stay but wanted to know if this happened to anyone else and what the outcome was.
I was late 30 days on one car payment and my score dropped from a 760 to 590. I have since been able to get back to a 650 which took about 6 months. Unfortunately for me this is seriously affecting my ability to sign a new lease as my “credit is too low and the main factor preventing me from being accepted even though my income is more than enough”, actual quote from the leasing company. I am going to be working with the credit company that gave me the decretory mark and see if there is anything that can be done, I’ll try and give some feedback if I can (because this sucks), I’m hoping they’ll show some sympathy for a college grad with no job and still managed to pay off the loan a year and a half early (so technically i wasn’t behind on payments). In the meantime, I’d love to hear if anyone else has been in a similar situation and was able to resolve.
My partner and I called everyone we owe money to yesterday and they put a 2 month freeze on payments. This includes car loan, student loans, rent, medical debt, everything. I cant promise that all your creditors will be so reasonable but it seems that many are on board with banding together to get us all through this.
Hi guys. I discharged ch. 7 in August of 2018. Auto loan credit union keeps sending me threatening letters to take me to collections. I was in touch with my attorney when these letters started. Well today I received another letter saying that the next step is collections and, my attorney won’t return emails now.
Here’s what I have done:
Contacted creditor and reminded them of my discharge, to which they acknowledged and made a note of in their systems. This was several weeks ago. I documented, and kept, all correspondences between me and my creditor.
What am I to do at this point? Just wait till they hit me with a collections? That’s going to be a bitch to clean up later on.
Over the last month or so I had one card go from $900 balance to around $1300 and then to $400.
Get an alert from myfico this morning that the balance went up to $1300. Do creditors routinely send old balance info to the credit agencies?
VANCOUVER — Under protection from its creditors, the company behind Steve Nash Fitness World and Sports Clubs plans to seek out prospective purchasers and investors for its chain of more than 27 fitness locations.
SNFW Fitness B.C. Ltd. sought creditor protection on April 3, owing more than $35 million to creditors. The company’s operations includes locations in Victoria and Nanaimo.
article continues below
According to an initial report from trustee The Bowra Group Inc., SNFW Fitness board directors have determined the company is not a viable business without a significant equity injection.
Directors estimate more than $10 million would be needed to cover the company’s costs and estimated losses until the COVID-19 lockdown ends, excluding rent and lease obligations, and assuming government restrictions are lifted in August. That is in addition to $32 million owing to the Bank of Montreal, a secured creditor, and approximately $3.4 million owing to unsecured creditors.
SNFW Fitnes... keep reading on reddit ➡
So I’ve just decided to check up on thing again, and now notice that apparently I’m suppose to have a 32 digit code that is in a guide mailed to us? I’ve never been mailed this letter, I don’t even think they have my address in the first place. I do have my X creditor code and emails saying that my claims have been accepted.
Where would I get this 32 creditor code?
I’ve seen a lot of posts and comments asking what will happen to your serviced or recently ordered board. Here are some questions and answers that might help.
Q: The bank foreclosed on Boosted HQ with my board in there. What does this mean?
A: It means that Boosted hasn’t been paying its mortgage and the bank took possession of the collateral, which is the building/company assets. Not your board.
Q: Boosted has gone out of business. What does this mean?
A: We don’t know yet. It could mean one of 3 things.
I have some closed accounts on my credit report that are roughly 2-3 years old. So I’m still within the SOL and erase date. However they just fell off, and some collection companies that were attached to it, fell off as well. This made my score increase. Will this just one day come back in the future? Or what will happen? Anyone have similar experience?
I filed last November and it was discharged February 22nd (woo). Part of it was my home, we had already moved out and was trying to sell. Chase continued to send me letters even after my lawyer sent them multiple letters to stop.
Today I get a new bill from a debt collector they sold the debt too. I called my lawyer but was told I need to call and tell them it was discharged (was also told since it is not the original creditor it's my issue and I have to wait 2 years to file again, on the same loan???? Which I shouldn't have to file again on the same thing).
I called and the creditor is saying my bankruptcy isn't discharged, even though my credit report and paperwork show yes it is.
Do I just ignore them, send a cease and desist myself or call my lawyer again?
Hope someone can help.! Husband and I are seniors. We only receive pension and S.S.
I know that we’re judgement proof for the S.S. and pension, but I’m worried about the stimulus check and a small amount of cash we were given by our son. It’s all in checking, except for $1000 in savings.
Is there any way to protect our bank account from being frozen?
If we purchase a prepaid debit card, are they able to freeze funds in that? Are they able to take money owed, from the prepaid card?
We owe on several credit cards and 2 small loans. We fell behind in everything when my husband was sick. There’s no way we can ever catch up now.
Being judgement proof is fine for the SS and pensions, but can they freeze the account to take the stimulus and “gift” money.?
We need every penny, and can’t afford to lose any.
I realize bankruptcy is a choice, but we’re very comprised and are quarantined at home and unable to go out.
Is the only option withdrawing all of our funds?
Please throw... keep reading on reddit ➡