C&D TO WHY CHAT
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Posted by Cassidy
(24.159.75.15) on August 27, 2002 at 23:44:12:
Hi Why Chat I'm responding to your below statement about sending a cease and desist. I've read constantly on this board and others that sending a cease and desist when an account is within the SOL is an absolute NO NO. I have 3 years on one and 4 on the other until they reach SOL. The only other means of communication would be lawsuit in most cases and that's just not even a chance I'm willing to take. From what I'm seeing so far, I think I am pretty judgement proof. The one car we have is our only car that's used for work purposes and another one is being borrowed from my inlaws. Not a community state property and owe on this house for 29 more years and will NOT be refinancing because we definitely don't want to owe on it any longer. Have paid just $800 on the principal after a year. I have no job and they can't garnish hubby's check because he's not on the accounts and has never even used them. He didn't even know about one I have. I'm just saying hopefully based on the above they'll find it too costly/worthless to even try to get a judgement. The property doesn't show on my credit reports because my social isn't even on the mortgage loan (just my hubby's) but it is listed as joint tenancy and my name is on the deed. Honestly if it got to the point of them suing me I'd file in a heartbeat. Thanks Cassidy "If you send cease and desists, you will cut down on the "unknown" calls.
Depending on your State, you may or may not be "judgment proof", remember, judgments are enforcable against not only what you have NOW, but what you may have-or want to have in the future, Anywhere from 5 to 20 years, depending on your State. Also, if your State does not exempt garnishment,or if you are in a community property State, you have different considerations.
If you want, (unless I already did this for you) E-mail me and I will give you my opinion as to how "judgment proof" you are."
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