Home
Public Forum
Credit Reports
Apply For Cards
Credit Directory
Credit Overview
Credit Problems
Credit News
International
Credit Glossary
Purchase Books
Credit Laws
Business Credit
Merchant Accts
   

Double Jeopardy? HELP!!!!!


[ Follow Ups ] [ Post Followup ] [ Credit Forum Index ]

Posted by Kismet (4.62.185.14) on February 26, 2003 at 21:40:57:

Can someone give me some advice on this one?

I'm in California, and I defaulted on a car loan about three years ago, and the vehicle was repoed. They have since taken me to small claims court, gotten a judgement and are garnishing my paycheck (for a whopping $25 a month, but that's another story). The garnishments have occured consistantly since August 2002. I have not changed jobs, and they are still getting their pittance.

Today in the mail I received a letter from these clowns with the following text (kinda long, but I wanted to get it all in, the words in CAPS are as they wrote it):

"You are hereby notified that you are in default of your contract. We have not been able to contact you via phone or mail to resolve this matter voluntarily. We are currently reviewing your file for possible LEGAL ACTION against you for default of your contract, and you could be liable for attorney fees and court costs. To avoid possible legal action, you must surrender the vehicle or accept our settlement offer.

"Dumbass Financial Services (my words) is prepared to offer a settlement offer of 70% of the full balance to satisfy your debt to us. You must contact our office NO LATER THAN the 15th day of this month (mind you I got this on the 26th) to make arrangements for payment or the return of the vehicle. This offer will be NULL AND VOID, and the full balance will be due within 24 hours, if arrangements are not made by this time. THERE IS NO GRACE PERIOD."

It then goes on to state what kind of funds are acceptable.

No where on this letter is an address for these clowns, only a name and phone number of the "charge-off supervisor".

This account has been a charge-off on my credit for some time.

What is their deal? I was planning on sending a nicely worded reply to this letter stating a) you took the car three years ago, b) you have already COMPLETED legal proceedings, c) you are currently garnishing my wages, d) it is impossible for me to reply to your letter by the 15th day of the month since you sent it to me on the 20th.

What do all you wise people think? I would love to settle with these idiots, but right now I couldn't afford more than 5% of the outstanding balance!

Thanks for reading, and thanks for your help!!!


Follow Ups:



Post a Followup

Name:
E-Mail:

Subject:

Comments:

Optional Link URL:
Link Title:


[ Follow Ups ]   [ Post Followup ]   [ Credit Forum Index ]

 

    Top Of Page

  

Copyright © 1999-2002 Enkephalos Web Design