My wife went to law school, and took out a ton of debt. some public (perhaps K), some private (about K — which is the reason for the suit). Well, she became unemployed in March 2009. Stupid move. We wanted to relocate to a better economy. Well, we came back to former city in late 2009 and have been shacking up w/ her folks ever since. We’ve had our first child. I am in the middle of trying to start a business and literally just paying for the business right now. She’s hoping to get back to full time work here pretty quickly. She’s got a couple of possibilities on the table. Well, we’re in TN and her law school was in Calif. A law office in Nashville is operating as a collection agent for this private debt. The original loan company wouldn’t hardly work with my wife through the unemployment, and for the past two years, the only employment she’s had is seasonal tax assistance work. Less than K per year. Our annual income is ridiculously low.

This lawyer has filed suit against my wife and now we don’t know what the hell to do… (IF SOME OF YOU THINK THAT JUST BECAUSE MY WIFE IS A LAWYER SHE SHOULD BE ABLE TO HANDLE THIS… , PLEASE TAKE NOTE, MY WIFE HAS NO EXPERIENCE IN BANKRUPTCY AND DEBT COLLECTION SUITS… SO IT’S NO DIFFERENT THAN A FAMILY PRACTICE PHYSICIAN PERFORMING A BRAIN SURGERY OR HEART TRANSPLANT. THERE’S NO CONNECTION THERE.).

She’s being sued, and it’s not like we’re sitting on any cash. What little cash she has (less than K, she’s trying to get back in good standing with the bar association since she’s been absent for a couple years… and now… this bullcrap hits. I didn’t make the economy go south, and neither did any of you folks… so be kind in your response. I don’t need a lesson on ethics… the world literally fell out from beneath a lot of people and if you’re one of the lucky folks not to get situationally screwed, consider yourself fortunate and try not to be judgmental. We didn’t plan for this to happen. And we feel awful about it.

My question I guess is, for any of you lawyers that know bankruptcy… I’m well aware that student debt cannot be discharged by standard bankruptcy proceedings, although there is possible statutory law that was introduced in April 2010 (don’t know if it passed) which can, in certain circumstances – as I understand it – make it easier to discharge private student debt, but I’m uncertain how to go about finding out what part of that legislation might apply to my wife.

Anyway, what is the likely outcome of this? Would a collection attorney really put up money to sue us for essentially nothing? You know the old adage "You can’t squeeze blood out of a turnip." ?? Or do they just want to solicit personal information from us so that they can verify that my wife hasn’t actually been intentionally stiffing anyone… she’s just been legitimately underemployed and unemployed?

Thanks for the help.

Technorati Tags: assistance work, bankruptcy, brain surgery, debt collection, economy, ethics, family practice physician, full time work, heart transplant, law school, lawyer, loan company, lucky folks, nashville, possibilities, private debt, stupid move, suits, tax assistance, unemployment

I recently gotten a debt collection notice for 00 on an account I have no distinct memory of, from over 6 years ago. The debt collector stated they bought the debt from citibank, citibank says they bought it from "verizon credit card", but cant give me a number to call "verizon credit card" to try and figure out what is going on. Now, from 1999-2001 I cleared and settled all my credit card accounts one by one, and I saved all my correspondence on these issues, but all of that was lost because they were stored in New Orleans at my father’s house. So basically I have these people trying to collect a debt I have no record of, whose latest action is from 2001, and they have suddenly listed this on my credit report, as if it was a new debt, from 2007 – which I am fairly certain is illegal. Anyone know the details on this sort of stuff?
After trying to work with this collection agency, now that I am sure that this is a junk debt, I am convinced these people are scam artists and know it. I called them and explained that I wanted to work with them to track back the company that initially owned the debt, and they said they didn’t care, that I owed them money, and that since they bought the debt this month, it IS a new debt, and that they could report it as so., because I "took action on the debt simply by calling them" I told them that legal counsel has advised me otherwise, and that in the state of Texas last monetary action on the date of the debt is what matters, not phone contact, which is true, and they hung up on me. My lawyer, who isn’t in this sort of law, is sending them the certified letter, following OCT1999’s recommendations. Thanks SO much! I was about to shell out the 2500 because this has dropped my credit rating from 750 to 590, and my job is at risk b/c of it, but now I am going to fight it.

Technorati Tags: 6 years, citibank, correspondence, credit card, credit rating, credit report, debt collection, debt collector, job, lawyer, legal counsel, memory, money, new orleans, risk, scam artists, state of texas, verizon, verizon credit

I have not recieved my letter yet from NES debt collection about the terms we agreed upon settling my debt. they are scheduled to take money from my acocunt tomorrow. Is this legal when I have not yet recieved the letter?

Technorati Tags: debt collection, money

I was served with a debt collection summons in the state of NY. It’s from a credit card that had a balance of 500.00. They are saying that I owe 825.50 with all the legal fees and intrestet. I am going to call them and settle the debt in one payment. Will the summons affect me in anyway still once I have paid it off?

Technorati Tags: credit card, debt collection, legal fees, summons

I need to know the best company that provides credit debt related services like debt negotiation, debt settlement, debt collection, debt consolidation and others.

Technorati Tags: credit debt, debt collection, debt consolidation, debt negotiation, Debt Settlement, related services

My credit card account is in debt collection and be passed to a attorney to sue me. I have contacted the attorney – he started threatening me that he has my account only to sue me – and that any arrangement with go through the court. I had asked how to avoid that, then he suggests that I settle with him and then will not be sued and avoid judgment – He is willing to settle but I am not sure if this is trap. The reason is that in NH where the account is, if a creditor cashes a full payment check and explicitly retains his right to sue you by writing "under protest or without prejudice" with his endorsement, then he can come after you for the balance. But those exact words must be used. If he writes "without recourse," communicates with you separately, notifies you verbally or writes on the check that it is partial payment, it is not enough.
Please advise how I could make sure he is not going to trap me and come back for the unpaid part later.

Technorati Tags: credit card account, creditor, debt collection, endorsement, exact words, judgment, prejudice, protest, quot, recourse