Defaulted In Ohio

[Stash]

What is the name of your state?What is the name of your state? Ohio. In 2003 a default judgement was entered against me by a big time collection company after I failed to appear in court. Some history with the credit card which was opened in 1993 and charged off by them in 1997 the last time I paid them was 1996. The account went to a couple debt collection companies and when it got big enough it landed with the above company who reported the account as NEW in 2000 to the big 3. In the summer of 2003 I answered one of there offers to pay a partial payment to settle and wrote them a couple checks. In the fall of 2003 after I lost my job they took me to court and then in the court papers stated I refused to pay anything and used the account info from my payments to them to try and seize my bank account. I have long since been with another financial institution.
After looking into all of this it seems they renewed the debt in 2000 to keep it alive (it may have been new for them but I had not paid on this account since 96) and then when the sol was nearing the end they instigated a lawsuit. I am not contesting I owe the money I am wondering what is the best way to contact them? The letters before the judgement were offering almost half the debt to settle now they call daily and letters say they want the whole amount and will take a small amount a month-- as interest will grow. Of course they want the smallest amount possible now... Funny the the intersest and amount owed is now 4 times the initial loan back in 93. Can I negotiate with a chance here? How do I get proof they will report this judgement as payments being made on my public record as well as the judgement satisfied?

[Ladynred]

First of all the SOL in OH, even for credit card debts, is being ruled as 15 years, so the SOL was never even close to running out. OH judges don't subscribe to the 4 or 6 year SOL that's floating around the 'net.

You may have some room to negotiate as this is an old debt, but as soon as you contact them, they will probably make a beeline for your bank account and drain it dry - or they'll haul you into court for a debtor's exam and make you reveal where you bank, where you work, and a whole lot more.

As long as the judgment goes unpaid it is accruing statutory interest, so the amount of the judgment itself is growing.

IF you get the thing paid off, then you ask for a letter of satisfaction that you can file with the court. That letter can also be sent to the credit bureaus if its not reported as satisfied. Unfortunately, that's not likely to get it off your reports before the 7 year reporting period.

[Stash]

My question is what is the best way to negotiate with them for the terms of repayment? Its not a question of "if" but when and how I pay them. They will not find where I bank I can assure you and when i pay them it will most certainly be with cashiers checks or money orders and no way do I call them from anywhere I want them calling to find me. DO you think they will work or has anyone out there ever paid up on an account that had a judgement attatched to it?

[Ladynred]

what is the best way to negotiate with them for the terms of repayment?

Initially - in writing. Eventually you are probably going to have to talk to one entity or another.

They will not find where I bank I can assure you

Don't bet on that. If they win the judgment and they drag you into court for a debtor's exam or send you interrogatories (same thing as the exam), then you will be required to answer ALL their questions about your banking, your job, your assets and anything else they want to know. To ignore either could result in a contempt order and a bench warrant for your arrest.

DO you think they will work or has anyone out there ever paid up on an account that had a judgement attatched to it?

They might, yes. It all depends on the terms and whether or not they think they can get more money, faster, by using a bank levy or garnishing your wages. The will be harder to deal with because they have the judgment - they have other means open to them to collect if they don't want your terms.

[Stash]

Thank you for the advice. I also assume I could bypass the collection company entirely and just pay the court with a cashier's check and get my satisfaction letter that way? Will the court notify the big 3 bureaus or do I? Do I then send the letter of satisfaction to the creditor with the judgement to show it has been satisfied?
I see no point in calling them back as I am not giving them any information and I assume they will not negotiate until they can just go in and take it anyway with the judgement so what would be the point of negotiating now? ALso when I did enter into an agreement with them 3 years ago they did put that on paper in the court papers that they sent to me as a scare tactic so I knew they were thinking lawsuit but when I got the official SUMMONS from the court that was nowhere to be found and they said instead that i REFUSED to pay. Why should I believe anything they tell me?


Also it is confusing with the sol cuz there are some attorneys who say it is true and have won with that law as their defense. It must be very very coincidental that I had 2 debts with charge offs agree to almost half of the debt as satisfaction by the end of the 6th year since it went to collections.

[debtcollector`]

Originally Posted by Stash

Thank you for the advice. I also assume I could bypass the collection company entirely and just pay the court with a cashier's check and get my satisfaction letter that way?

No. that is a legal form that must come from the Judgment Creditor.

Originally Posted by Stash

Will the court notify the big 3 bureaus or do I?

No one will notify them. You can send copies of the that form in to "correct" incorrect information.

Originally Posted by Stash

Do I then send the letter of satisfaction to the creditor with the judgement to show it has been satisfied?

Since the JC has to be the one to send you the letter and file it with the court, the question is moot.

Originally Posted by Stash

I see no point in calling them back as I am not giving them any information and I assume they will not negotiate until they can just go in and take it anyway with the judgement so what would be the point of negotiating now?

You know what happens when you assume... ** And you realize that this is a self-fulfilling prophecy. You say you're not going to talk to them because they can enforce their judgment -- forcing them to take those very actions you don't want them to.

Originally Posted by Stash

ALso when I did enter into an agreement with them 3 years ago they did put that on paper in the court papers that they sent to me as a scare tactic so I knew they were thinking lawsuit but when I got the official SUMMONS from the court that was nowhere to be found and they said instead that i REFUSED to pay. Why should I believe anything they tell me?

Why should they believe you? You made several agreements to pay and they had to take you to court to get you to take this seriously. In this situation it is YOUR word that is questionable, not theirs.

Originally Posted by Stash

Also it is confusing with the sol cuz there are some attorneys who say it is true and have won with that law as their defense. It must be very very coincidental that I had 2 debts with charge offs agree to almost half of the debt as satisfaction by the end of the 6th year since it went to collections.

Not really sure what you are asking here. Can you explain without editorializing?

DC

[Stash]

Editoralizing- At the end of six years from their respective chargeoffs it would appear both creditors became quite desparate to accept anything they could and do anything they can to enforce their debt. Certainly you have a legal term for "coincidence?" I have received conflicting info on the sol. If it makes no difference and it really is 15 years sol in ohio, why would they then "take anything they can get" as the six year sol comes to a close- or worse- start litigation. It would appear that creditors DO in fact take this seriously and do enter in old debts as new and hope nobody catches them.
It certainly is their word that is questionable.
I started paying them after I entered into the agreement. They told the court I was not agreeing to pay anything in order to get their judgement which was at the end of the sixth year. Then used my bank info to try and seize. Now that neither side is doing what they say they will I have no choice but to pay them under my terms. Self fulfilling? Sure. Self fulfilling in that it is impossible to budget and pay your bills on time and stay out of debt if my account is bled dry and I find out after the fact. As long as both sides are fighting fire with fire the laws apparently mean nothing at this point.
Despite your smart tone and arrogance ( I didn't realize your title until I read your reply) you did help me out. WHen creditors write or call with offers of payment plans and settlements what they are really doing is trying to get information out of me so they can enforce their judgement. Thanks Guido!

[Leinalani]

Originally Posted by Stash

WHen creditors write or call with offers of payment plans and settlements what they are really doing is trying to get information out of me so they can enforce their judgement.

That's exactly what they're doing. Now, it's your responsibility to pay off this judgement or have it accrue fees, interest and stress.

From what I've found, the judgement they have against you is applicable for 21 years and accrues an interest of 12% per annum. Also, it can be renewed.

You might also want to take into consideration that the judgement creditor (the one's that have the judgement against you) have the right to garnish accounts, garnish wages and place liens on your property per your state statutes.

Just thought you might want to know this.

[Stash]

I appreciate you pointing this out but they have to find me first. My nickname is only stash because Fletch was taken. They didn't find me for the lawsuit so I seriously doubt they will now. Nevertheless, I do intend to pay this so I am still trying to find the best way to work out a payment plan. The agreements I entered into with them were for a percentage of the debt but instead of honoring it and their agreement they told the court I refused to pay, got a default judgement and tried to Levy. How about contacting them in writing and guarunteeing that once payments start they will not garnish, levy or seize?

[Ladynred]

they said instead that i REFUSED to pay.

And that is STANDARD verbage from any collector ! If you don't agree to pay them, IN FULL, when they demand it, they automatically mark the account as 'refuses to pay'. They say that to people on the phone even when they're trying to make payment arrangements and they KNOW it pushes peoples buttons. The first thing you want say is 'but I"m NOT refusing to pay !". As far as the collection agency is concerned - you ARE refusing - refusing to pay IN FULL, and RIGHT NOW. It's weasel words - and they got to you with it.

The question of the creditors and the 6 year SOL is more because THEY DON'T REALLY KNOW ! Neither the creditors or the collectors read statutes, they do NOT know the law and if someone - even you - tells them the SOL is 6 years they're just as likely to believe you as not. What I told you has come straight from many, many OH residents who've been sued on what they THOUGHT were SOL debts and having the JUDGE decide against them with the 15 year SOL. We had a guy who used to be here a LOT who did collections in OH, filed a LOT of lawsuits in OH and the judges just do NOT agree with the 6 or 4 year SOL. The fact is, your creditors didn't go to court so neither you, nor they, had any way of finding out what would have been decided. Not all creditors or collectors sue and that is nothing new.

[Stash]

The law really is open to interpretation. What are my odds of getting the amount due on the judgement negotiated down? I am guessing this is almost unheard of on a judgement. Sneaky pirates also sent me a letter over Christmas offering to settle 35% off the original debt. Not included were court fees and interest which is more than the debt. ANd let me guess, they are willing to talk "negotiation" only after I give up all personal contact info including the nursing home my grandma is in. Then Monday morn my bank is levied for the full amount plus interest and all checks I have drafted and monthly payments that come out are gone. Sounds about right, huh? If the legal system has taught me anything its get it in writing, leave a paper trail and don't believe anything a debt collector says.