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#1
05-15-2003, 04:16 PM
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credit card collectionWhat is the name of your state? Florida I have a credit card debt of $26,000 from MBNA which has been turned over to a collection agency. My husband has just started receiving total disability and I work. What happens now and can they touch my 403B, 401K, or IRA accounts to collect this debt? |
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#2
05-15-2003, 04:29 PM
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| The retirement accounts are *most likely* exempt from judgment seizure, it depends on your state laws. Unfortunately, the site I used to refer to for this info doesn't post it any more  What happens now ? How long has it been since you paid MBNA ? Who's the collection agency ? For that amount, you can pretty much expect to be sued.. that's pretty hefty for one card. Unfortunately there's no way to know how long it'll take before they sue.. IF they do.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#3
05-15-2003, 06:55 PM
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| It has been about 4 or 5 months and the agency trying to collect is NCO Financial. |
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#4
05-15-2003, 07:31 PM
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| NCO.. what a horror show !! DO NOT talk to them on the phone, they're a bunch of screaming harpies who are rude, abusive and ignorant. They have 2 MBNA accounts of mine, though nowhere near the total you're talking about. NCO, so I'm told, doesn't sue, but they do turn it back to MBNA who will sue or they send it to Wolpoff and Abramson to force you into arbitration. NCO will violate the FDCPA right and left. Keep track of their violations.. it may be useful.
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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#5
05-16-2003, 03:13 PM
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| I'm new at this. What is FDCPA and what are some of the violations? By-the-way, thanks. I feel a little better about this even tho I have a long way to go. |
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#6
05-16-2003, 05:32 PM
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| FDCPA is the Fair Debt Collections Practices Act and there are LOTS of things that a collector can NOT do, verbal abuse is one of them and its a violation of the law. You should read the FDCPA and get REAL cozy with it. Print it out and keep it near your phone so you can read it to them when they start their garbage. You can find it here: [url]http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm[/url] Here's another site, by a lawyer's office that's very good and has some sound files you should listen to: [url]www.pennlawyer.com/fdcpa.htm[/url]
__________________ "Knowledge is Power - use it as you see fit ! I am not a lawyer or a member of the legal profession. My advice is based on research and experience, my own and others, some who practice law. You decide for yourself what actions you do or do not take from my advice. |
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