Whatamimissing
Member
What is the name of your state? Georgia
Facts: I have two credit card charge offs: $2800 in 2003 (now $3600) with Cap1, $450 (now $990) in 2004 with Cap1, $1600 stafford loan(default in 2003.) I want to pay these debts off now, and can pay lump sum. I sent a certified, receipt requested letter to the creditors offering $0.33 on the dollar, hoping to settle around $0.50 on the dollar. Student loan to be paid in full.
The money to pay the credit card debts is in a money market acct. My bank manager said that one of the companies (NCO) got a judgement on another customer's acct without any warning.
Questions: 1.) Is there a way to set up an "escrow" type acct that is not in my name, but controlled like me, without the expense of a trust fund. 2.) I realize that when I owe money the creditors can obtain judgements, but do they have any responsibility to notify me of a hearing? 3.) If they do not have any responsibility to notify me, is there any way for me to check the court docket(?) to find out if I am bieng sued/judged? 4.) Does a judgement have a "blanket" effect, i.e. if the judgement is against my checking acct with ABC bank, do all accounts (savings, money market) with ABC fall under this or do they need a judgement against each account? And if the "blanket" rule applies to ABC bank, if I put money into the DEF bank could that also be "frozen" along with the ABC accts?
Facts: I have two credit card charge offs: $2800 in 2003 (now $3600) with Cap1, $450 (now $990) in 2004 with Cap1, $1600 stafford loan(default in 2003.) I want to pay these debts off now, and can pay lump sum. I sent a certified, receipt requested letter to the creditors offering $0.33 on the dollar, hoping to settle around $0.50 on the dollar. Student loan to be paid in full.
The money to pay the credit card debts is in a money market acct. My bank manager said that one of the companies (NCO) got a judgement on another customer's acct without any warning.
Questions: 1.) Is there a way to set up an "escrow" type acct that is not in my name, but controlled like me, without the expense of a trust fund. 2.) I realize that when I owe money the creditors can obtain judgements, but do they have any responsibility to notify me of a hearing? 3.) If they do not have any responsibility to notify me, is there any way for me to check the court docket(?) to find out if I am bieng sued/judged? 4.) Does a judgement have a "blanket" effect, i.e. if the judgement is against my checking acct with ABC bank, do all accounts (savings, money market) with ABC fall under this or do they need a judgement against each account? And if the "blanket" rule applies to ABC bank, if I put money into the DEF bank could that also be "frozen" along with the ABC accts?