credit card collector

[butterfly296929]

What is the name of your state? AZ
Hi, I have read and read, this is a great site. I appreciate all the work that is being done on behalf of everyone.

I have a citifinacial credit card debt, they have now "sold" the account to NCO. I spoke with NCO in May 2004 and tried to settle, an amount was agreed upon, but I never received a letter from them with the amount and other info needed to protect me, I informed them I was moving in June and needed it before then. I moved, and in Sept NCO starting calling again, I offered a settlement amount again, and never received a letter from them, now a couple days ago, they called again and the associate was very rude, would not listen to me, called me a liar, and I hung up on him. Since I have tried to settle before, what should I do now? Also, the credit card was issued in AZ, but I now live in NC, does this make a difference? I noticed on some of the postings that it was mentioned a time frame and then they could not collect any longer, what would this be in AZ or would it now be NC. I have not paid on this account for almost 2 years. A credit card is a unsecured loan, correct? What can be done, can they garnish, can they sue? Thanks in advance for your help.

 

[Tayla]

Welcome to the Board!
May I recommend changing your state to Read North Carolina. Some how its reading AZ.

Step 1: Read the FDCPA, and FCRA,and Staff Opinion letters.
Step 2: Re-read them
Step 3: read up on *tolling* and how it may affect collecting on this debt.
Step 4: Get a current Credit Report from all three major CRAs.
Step 5: Temporarily refrain from negotiating with the Collection Agency til you have done the above.
Step 6: Yes an entity can at any time persue the avenue of suing. The question is, can they win under the current laws or recent rulings...

 

[JETX]

Since I have tried to settle before, what should I do now?

It sounds like you haven't tried very hard. Seems that you have come to a settlement, then ignored it when they failed to send you a letter confirming the terms. Why didn't you call the same person back REPEATEDLY and ask for your settlement letter?? Why didn't YOU provide a letter to them for their signature and return??

Also, the credit card was issued in AZ, but I now live in NC, does this make a difference?

Since both states (AZ and NC) have matching SOL's on credit card debt (3 years), not really.

A credit card is a unsecured loan, correct?

Yes.

What can be done, can they garnish, can they sue?

Yes, they can sue. And if they get a judgment, then they can garnish, levy and/or seize your non-exempt wages and assets.

 

[Ladynred]

NC does NOT allow wage garnishment ! NC also has some pretty good consumer protection laws that you should learn about.

 

[JETX]

NC does NOT allow wage garnishment !

And though generally true, that 'overall' statement is NOT true.
North Carolina wage garnishment exemption:
"100% of last 60 days’ earnings for family support. Garnishment only by political subdivisions for taxes, ambulance fees".

 

[Ladynred]

Well excuuuuuuuuuuuuuuuuuussse me ! BAD me for not qualifying that answer, but since the subject was a credit card debt, I didn't think it was necessary.

 

[JETX]

Well excuuuuuuuuuuuuuuuuuussse me !

And what is YOUR favorite Steve Martin movie??

 

[Ladynred]

Dead Men Don't Wear Plaid