On Wed, Feb 20, 2008 at 8:00 AM, Angel help wrote:
> and thousands he has made by "gifting".
These are bona fide pyramid schemes, and are illegal.
> Now comes along a new angle. This time with credit card debt.
Most of these schemes involve filing suit against a third party debt
collector. Whilst collection agencies violate the Fair Debt
Collection Practices Act nearly every time they contact somebody for a
debt, getting a court to award you damages is not trivial. The
violation has to be something that is not technical, and not a matter
of human interpretation.
The one's that don't involve FDCPA violations, revolve around the
issue of whether or not money was lent to the debtor. Typically proof
of indebtedness is requested, as a preliminary step to establishing
that no money was lent to the consumer. The usual ending point of
this strategy is the person filing an FDCPA violation, and ignoring
the issue of whether or not money was lent.
> Finally I come to the one that peaked my interest. For up to 10 credit cards totaling less than $100,000 in debt I pay $2500 plus a couple of hundred per card.
These organizations do not reduce your debt load by a single penny..
Neither creditors,nor collection agencies have any legal requirement
to pay attention to what they do, or offer, even if they are acting as
your authorized representative. [The rules are slightly different,
if they are your legal counsel representing your interests in a legal
matter.]
> We run out of all prescriptions over the next 2 to 6 weeks.
I've forgotten the name of the organization, but most US
pharmaceutical manufacturers belong to it. Basically, it screens
individuals for various criteria, and if enough matches are found, you
get your prescriptions gratis. If you don't hit those criteria, but
match a different set, you get them at a discount. (Ask your
pharmacists for the name of the organization. Also ask your
pharmacists about options for you to continue them,when your insurance
ends.)
> Consumer Credit Counseling Services are useless because I have no income,
Depending upon the amount, and type of debt that is owed, bankruptcy
might be your best option. However, bankruptcy lawyers typically do
not do pro bona work for individuals. (They do do it for non-profit
organizations. But even in those instances, the person filing
bankruptcy has to pay all of the court costs.)
Talk to your local consumer credit counseling agency. [Make sure it
is the real mccoy. IRS (3)(c)
Increasingly, these are for profit organizations with similar names.]
Find out what other options are available.
Find out what usually happens to creditors in similar situations as
yours, who do not go thru their entire program.
Once upon a time, a debtor in the circumstances you describe, would
not be sued, because it was not cost effective to do so. [This was
especially true in Texas.]
The current situation seems to be that creditors will sue regardless
of their costs. Their theory being that the individual will have
attachable assets before the judgment expires.
xan
jonathon
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