How to fight back against Credit Card companies

[wordnerd]

File bankrupcy

[golddust]

Unsecured debt - they cannot touch you and will eventually settle for pennies on the dollar!

Unless you have a business, then they can hire a "Sheriff's Keeper"- he stands next to the cash register, and keeps the money customers pay you.
They can also intercept, and open mail to a business, and cash any checks that are mailed to your business.

I've never heard of these two. Can anyone verify if these are true?

[Tinfoil Hattie]

What if the debt is 12 years old?  I don't have a credit card, and don't know what to suggest to a friend who got into trouble more than a decade ago, and only now is the company trying to get money from him.  (AmEx actually started sending him notices last year, as the economy tanked - funny, right?)  Isn't there some 7 year limit or something?

Thanks for the help/direction.

http://www.creditcards.com/credit-card-news/credit-card-state-statute-limitations-1282.php

Looks like your friend is in luck, if his last payment was more than a decade ago.  The longest statute of limitations looks to be Rhode Island.  10 years!  I'm glad I don't live there.  AmEx is hoping he doesn't know the debt is time-barred.  They can contact him and ask him to pay, but they can't sue him and win.  There are form letters for time-barred debts on various sites.  Have him send one and they'll probably leave him alone.

[Seahorse]

Everyone remember that the statute of limitations is only a defense if it was argued in court.  You can waive the defense. Here's what I mean.  If you get sued for a debt that is too old, you have to file an answer, in writing, denying the debt and argue the debt is "barred by the statute of limitations."  If you don't, you've waived your right to make this argument and judgment will be entered against you.  You cannot allow a judgment to be entered against you and try and tell the sheriff collecting the judgment that the debt is too old.  So, if you are sued for a debt, you have to file a written answer denying the debt on the basis of the statute of limitations and show up for a hearing if the judge orders one, otherwise, judgment will be entered against you and the sheriff will come out to collect. 

[golddust]

Everyone remember that the statute of limitations is only a defense if it was argued in court.  You can waive the defense. Here's what I mean.  If you get sued for a debt that is too old, you have to file an answer, in writing, denying the debt and argue the debt is "barred by the statute of limitations."  If you don't, you've waived your right to make this argument and judgment will be entered against you.  You cannot allow a judgment to be entered against you and try and tell the sheriff collecting the judgment that the debt is too old.  So, if you are sued for a debt, you have to file a written answer denying the debt on the basis of the statute of limitations and show up for a hearing if the judge orders one, otherwise, judgment will be entered against you and the sheriff will come out to collect. 

What about filing a motion for discovery, so the plaintiff has to prove you owe what they say you owe in the first place before they can get a judgment, or responding to the summons by denying you owe the debt on the basis of no knowledge of any such debt?

[Autonomous Unit]

goldust-
"A deputy sheriff performs the levy by placing a keeper (custodian) in the debtor’s business for an 8-hour period. During that time, Seizure is the method of levy for personal property in the possession of the debtor. If the debtor has a business, the placement of a keeper in the debtor’s business for an 8-hour period is a relatively inexpensive form of seizure. An 8-hour keeper levy is particularly effective when used as a "fact-finding mission" to identify equipment and inventory at the debtor’s business. A deputy sheriff performs the levy by placing a keeper (custodian) in the debtor’s business for an 8-hour period. During that time, the keeper seizes incoming cash and checks from the sale of merchandise and prevents the removal of any stock-in-trade or equipment unless paid for. The keeper also prepares a written inventory of the property found at the business. If further action is required, the creditor may refer to the keeper’s inventory to weigh the feasibility of having the Sheriff seize, move to storage and sell some or all of the property if the debtor does not satisfy the judgment. "

http://www.co.napa.ca.us/GOV/Departments/DeptPage.asp?DID=23500&LID=1903

[golddust]

It sounds like it applies to someone with a brick and mortar business that sells things, not just if they're a consultant for instance, or even if they're a waged worker. Is a sheriff really going to set up camp by my mailbox and collect my personal mail to see if any personal checks from clients are in it?

Edited to add:

I noticed some pretty important information.

For example, a keeper may be installed at A1-Auto, a corporation, if the writ lists the debtor as A-1 Auto, a corporation. However, if the writ only lists John Smith, an individual (who is also President of the corporation) as the debtor, a keeper cannot be placed because the corporation is not a named debtor. The wages owed to John Smith by the corporation must be levied by garnishment (earnings withholding order.)

Emphasis mine.

[Seahorse]

Everyone remember that the statute of limitations is only a defense if it was argued in court.  You can waive the defense. Here's what I mean.  If you get sued for a debt that is too old, you have to file an answer, in writing, denying the debt and argue the debt is "barred by the statute of limitations."  If you don't, you've waived your right to make this argument and judgment will be entered against you.  You cannot allow a judgment to be entered against you and try and tell the sheriff collecting the judgment that the debt is too old.  So, if you are sued for a debt, you have to file a written answer denying the debt on the basis of the statute of limitations and show up for a hearing if the judge orders one, otherwise, judgment will be entered against you and the sheriff will come out to collect. 

What about filing a motion for discovery, so the plaintiff has to prove you owe what they say you owe in the first place before they can get a judgment, or responding to the summons by denying you owe the debt on the basis of no knowledge of any such debt?

Golddust,  the party suing always has to prove what they allege.  The problem is, many people being sued don't file a written response denying the debt.  If you don't, then a judgment by default is entered against you.  Further, in your written answer, you have to allege that the debt is barred by the statute of limitations.  In Arkansas, this is an "affirmative defense" meaning if you don't raise it in your answer, you waive the right to make the defense.

So, what I'm saying is this, file a written answer if sued, put in your written answer the debt is barred by the statute of limitations, then show up at any court date.  If you fail to show up at court, judgment can be entered against you bc you are not there to dispute the proof put into evidence.

[Seahorse]

A sheriff can come out and levy against property, but in my experience, it would be extremely rare for them to be checking your mail.  It's simply not practical.  In Arkansas at least, the sheriff seizes property listed in the writ of execution.  The sheriff reads the writ, sees what physical property he is to execute on, or will sometimes look for something when he shows up.  That's it.  They won't be hanging around too long.

[golddust]

Everyone remember that the statute of limitations is only a defense if it was argued in court.  You can waive the defense. Here's what I mean.  If you get sued for a debt that is too old, you have to file an answer, in writing, denying the debt and argue the debt is "barred by the statute of limitations."  If you don't, you've waived your right to make this argument and judgment will be entered against you.  You cannot allow a judgment to be entered against you and try and tell the sheriff collecting the judgment that the debt is too old.  So, if you are sued for a debt, you have to file a written answer denying the debt on the basis of the statute of limitations and show up for a hearing if the judge orders one, otherwise, judgment will be entered against you and the sheriff will come out to collect. 

What about filing a motion for discovery, so the plaintiff has to prove you owe what they say you owe in the first place before they can get a judgment, or responding to the summons by denying you owe the debt on the basis of no knowledge of any such debt?

Golddust,  the party suing always has to prove what they allege.  The problem is, many people being sued don't file a written response denying the debt.  If you don't, then a judgment by default is entered against you.  Further, in your written answer, you have to allege that the debt is barred by the statute of limitations.  In Arkansas, this is an "affirmative defense" meaning if you don't raise it in your answer, you waive the right to make the defense.

So, what I'm saying is this, file a written answer if sued, put in your written answer the debt is barred by the statute of limitations, then show up at any court date.  If you fail to show up at court, judgment can be entered against you bc you are not there to dispute the proof put into evidence.

Right. I understand what you're saying. You have to put that in the answer or you can't use it in court. Well, the SOL on mine isn't up. But as a rule, I'd deny owing it on the basis of no knowledge of such debt if served with a summons. I can't be certain something is mine, I have some strange stuff on my credit report that even after I get it deleted reappears and is re-aged to appear newer, so I just give up on the credit report front. If I owe it and they have decent records, they can prove me wrong in court. If they can't prove their case, too bad for them. And they have to find us first, right? We've taken very careful precautions not to have our new address on any records.

In your experience, Seahorse, how often do they take older used cars to satisfy simple unsecured debt? Our car is worth $1000 private party, a dealer might give us $500 for it. That also sounds impractical and most people sucessfully sued never indicate any such thing has happened.

[Seahorse]

Keep in mind that making partial payments on debts extends the statute of limitations (in most instances). 

How far is a credit card company willing to go to collect a judgment?  I don't know.  I guess it would vary depending on the individual and how much the judgment was.  In many cases, credit card companies assign their debts to collection agencies that work on a percentage recovered.

[elliemae36]

Wow.  I'm glad I never got involved in credit cards.

I had my friend read this forum, and others, so thanks for the great information - from me and my friend!

[cozdiver]

The right way to break up with your credit card

[golddust]

The right way to break up with your credit card

As far as I'm concerned, the article is useless but I suppose to those with good credit in the interim it matters. Some time down the line, likely quite soon, this will all be a moot point anyway and if we still have internet access, everyone will be laughing at the concept (or necessity) of ever having credit or a credit card ever again.

But I love some of these comments:



This is simply insane - 3 credit reporting companies holding the power of the purse over every American.

No checks or balances, almost no oversight, and no way to opt out.

People - wake up and smell the corpses - we're all being groomed as slaves.

***

If the sheep in this country had an ounce of courage and self-esteem, they'd cancel every single unnecessary monopoly product and tell these arrogant jerks we're tired of being manipulated while they fiddle with their investments and marketing while the economy burns. Are credit cards, cable TV, and cell phone plans really necessary? If everyone told these companies that as of January 1 we'd cancel our plans, the companies would have to change their ways or fold. And what would we lose?

***

WHO CARES about FICO scores and the blood sucking credit card issuers???

FICO scores are determined in a secretive manner.

It's time Americans stood up to all this manipulation and refused to buy "made in China" junk at Walmart on credit.

Stand up and tell auto dealers, banks offering mortgages, and future employers that your FICO score may suck, but that you DON'T !! Employers that check your score to decide whether to hire you aren't worth working for.... an auto dealer that offers you a high interest rate or nothing at all...walk out of the show room. See how fast the salesman and business manager head's spin. They'll be amazed that you "turned down their offer".

Americans have got to stand up. Laws need to be put in place to limit credit rates. Until then....credit issuers are doing no more than rap*** the consumers.

[vision-master]

Years ago Roc said max out yer Credit Cards buying Gold.

I think he was right.