Re: What do I do next???

Posted by Drew (24.59.27.46) on April 22, 2004 at 16:33:46:

In Reply to: What do I do next??? posted by Stressed Worried.........long read on April 22, 2004 at 11:10:14:

I would also like to say that now that they are aware of the fact that they are not licensed in TN, they will do one of two things. They will keep contacting you and violating the law because it is ILLEGAL to attempt collection activities in a state which requires a collection license. Or two they will get licensed and then try to collect you legally. THe other thing that will happen is that they will return the account to CHase, who will assign it to another collection agency. If you are within statute of limitations, sending them a validation letter may cause them to sue. On the other hand, they might do an asset check and determine you are not worth suing. It is best to do an online search if you can of your local court district and find out how often Chase will file lawsuits. If Chase sent you the letter, the account is with them and they have the legal right to sue.

However for them to sue, they will have to get an attorney licensed in your state to sue you in your state. In essence you are now judgment proof which means that although they might sue you and get a judgment, they can't collect because all of your assets are nonexempt. They can't touch your wife or her assets because she is only an authorized user.

So the thing is to just relax. If you get to a point where you can pay them later, then you will be able to negotiate. They will still keep calling you and harrassing you as long as they know they have a reaction from you.

Follow Ups:

Post a Followup