Attorney Line Of Credit

recently he got a letter from home equity line of credit bank's attorney saying that they are trying to collect debt and all that, he doesn't have the money any more so what happens, now, what are his option filing a bankruptcy or?

He would have to sell the house if he wants to dismiss this via a bankrupsy.

2008-07-28 19:09:35 by Rana

A good banker can be a lawyer's best friend. Ed teaches how to select the right one in order to establish a reliable line of credit.

It doesn't make any sense. I am a "deadbeat" to them, and I have a 0 credit balance. I have reported them to the bbb, and I have called, sent certified mail, and emailed them regarding the situation and it has yet to be cancelled. They added (without my consent) a 10.00 a month charge to my credit card and when I tried to cancell that I berated and made to feel like an idiot. DO NOT EVERY USE THEIR CREDIT SERVICES, YOU WILL REGRET IT! Please tell me, other than having an attorney settle this, is there anything I can do to stop this madness?
The $10.00 is being charged to me for an automatic identity moniter service, one I never asked for that was hidden in my new contract when I activated my card. It is their way of stealing money from people who pay off their bills each month. Unbeilivable!

WOW! I don't even know where to start!

But I'll try:

1. If you didn't want to keep the card, you should not have activated the new one. By doing that, you want to keep it.

2. They do not add that Identity Protection unless you agree to it in writing.

3. If they (probably the outsourced cancellation center in India) wouldn't let you cancel it, you should have talked to a supervisor.

I had their card for a number of years and I was very pleased.

2007-02-25 15:47:23 by Lindsey

I have a rather sordid tale to tell.. so please bear with me thru the gory details!
My ex and my divorce was final about 2 years ago. In the months before our separation, he convinced me to co-sign on a couple of loans with him. One was an unsecured credit card loan (a Tweeter account actually) for about $8,000, the other an unsecured line of credit with a credit bureau for an astounding $50,000. We had amazing credit at the time.... Enter girlfriend, and divorce - go figure. In our decree, he was ordered to pay child support, those 2 outstanding debts, as well as some outstanding income taxes. Since that time, he's quit his job, and is working as an independent contractor to avoid paying child support, or any other "garnish-able" fees. He was also supposed to cover our child with health insurance - this didn't happen either. I, on the other hand, bought a small house and have been working my fanny off trying to keep my head above water without his help. I've been paying on all the outstanding income taxes monthly, and have maintained perfect credit on my end - without his help in any way - including child support. However, those 2 loans are simply out of my abilities to cover. He has the stereo from the Tweeter account, and the $50,000 went who knows where... (let's ask the girlfriend!)
I received a knock at the door yesterday with notice of a pending judgment. I'm not financially not able to hire an attorney - Is there anything I can do to protect my house and my meager checking account?.... or can they seize my checking, and attach a lein to the house so I can't ever sell. Oh - I also forgot to mention that I closed on my house prior to the divorce being final, so, since Texas is a community property state, his name is on the Deed. He was ordered in the Decree to sign a General Warranty Deed over on the house, but of course that hasn't happened either. Feeling like I'm in deep do-do here. Any input would be VERY appreciated.

judgement blues, I found a huge online list of Texas credit card resources. http://www.howtofindcreditcard.com/Texas -Credit-Cards.html Try calling a local company and they can answer your questions.

2008-08-10 14:54:43 by MAC Attack

I was told by my real estate agent that if I did a short sale or foreclosure on my home in Arizona, that both the first mortgage and Home Equity Line of Credit (taken out 9 months after home purchase) would both be relinquished in a short sale or foreclosure. Because the house had dropped significantly in value and half the lots were vacant from owners doing the same thing, I decided to proceed with the short sale. It wasn't approved and went into foreclosure. Now the bank is pursuing judgment against me to garnish my wages. Unfortunately, I can't afford to retain an attorney. Is this a case I can win, even if I represent myself in a civil suit against this realtor? I also have email documentation asking him specifically how both loans would be treated. He responded with "Don't worry, I have it!" I also have a witness to him telling me this verbally. According to the anti-deficiency laws, the second loan is not forgiven because it's Non-Purchase Money, is this correct? Also, I'm wondering if I have a strong enough case to pursue this in civil court, representing myself.

The Arizona laws make a distinction between purchase-money loans and all others. The bank can go after you for the deficiency on the other loans.

Many AZ attorneys believe that the intention of the legislature was to protect a homeowner on his personal residence. That no court will uphold a deficiency on your personal residence. We don't yet know if this will be true or not.

So far, the banks have not been willing to pursue judgements because the borrowers (you) don't have any money. It is just a waste of time.

You have a case against the realty agent but not for all of your damages. You were responsible to protect yourself. The agent was responsible to get the house sold. You might win a small judgement.

2009-11-16 10:54:35 by Ryan

I had a credit card with a line of credit for $1,200 and now it went up to $2,200 because I defaulted. Now the card company went to an attorney to summon me a court order plus fees, is this possible? Can I call the company to do a settlement instead? I know I should have paid, but financially things happened....please help.

I'm not sure if the company will go for it. Usually, they tell you it is out of their hands because it's been turned over to collections.

Call the company and talk to several people. If the first person says "no" call back and speak to someone else.

Also, it's possible that you can negotiate with the lawyers. Let them know that you could either pay this bill or you could file for bankruptcy, because you already have bad credit. They might work with you.

Good luck.

2008-02-08 02:36:27 by Den B