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Re: Paid a debt did we set ourselves up


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Posted by Cassidy (24.159.75.15) on September 10, 2002 at 01:42:45:

In Reply to: Paid a debt did we set ourselves up posted by donald on September 10, 2002 at 00:51:04:

Unfortunately Donald, that is the case. If you pay one then they all swoop in like vultures.

That's not the worst of it either, if you didn't get your agreement in writing from Discover that they wouldn't sell the remaining $750 balance to a collection agency..then you may still end up having to deal with someone with regards to that account as well. It's all about being informed and knowing we have options and can make a few demands as well, which most of us didn't know until we hit the internet looking for answers. Personally I am STILL learning and posting questions myself.

Basically if you can't pay them all off then you're best just leaving them alone. They figured that since you could pay one then you must have some cash stored somewhere (even though you don't) that they can dig into.

It actually is possible for 2 to put liens on your house. But highly unlikely the other will pursue a lien once/IF the first puts a lien on your property.

They can't take your social security and disability though. Check out your state exemptions..they apply to both bankruptcy and collection agencies..copy and paste the following link to see

http://www.cst.net/paralegal/ny.htm

Actually I think they're setting themselves up for a needless court case if you don't have any assets. All they'll be able to do is put a lien on your property and hope you refinance or sell so they can get their grubby little fingers on the money.

Read the link below and it'll explain more about property liens from the collectors point of view and why it may not be favorable to put another lien on property that already has a judgement lien.

http://consumer.pub.findlaw.com/lawsuits/nolo/ency/B05ECFB4-A00D-4ECD-AE836F461942C89C.html

Also as a newbie to this you need to understand your FDCPA rights and see if they've been violated as well (collectors are counting on you NOT knowing)..so check out this link too

http://library.lp.findlaw.com/articles/file/federal/ftc/ftc000049/title/Subject/topic/Consumer%20Law_Credit/filename/consumerlaw_1_97

The 3 links I gave you should get you up to date on what to expect. You'll probably get even more help from the more experienced members. You've come to the right place for help!!

Good luck and ask away!


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