[CatS]

My question involves collection proceedings in the State of: Maryland

My situation is a little different from others I've read and I was hoping to get some insight as to what the differences means in terms of my rights and how I should proceed.

I have been contacted by a debt collector several times in the past year via letters etc. I have never responded. I am now being contacted by an attorney who's letter head states he is not licensed except to collect debts (or something like that). The last letter I received stated a court case # and now I am worried.

Background:This debt is on a small business credit card for a business which was dissolved years ago. The bank issues the card to the company with my name on it. So, they do not have my SSN it was issued under the company EIN. The company was an S corp LLC if I remeber correctly. It was created by my Ex so that both of us could use it for our side businesses that we were involved in. I was managing promotions/events for a new beverage company that never really took off. I used the card for both personal charges and business.

So, they are now coming after me b/c my name is listed on the card. Nothing is on my credit report YET thank goodness! I figured it is b/c this is in the company name. Howver, in essence, the debt is mine. I know I should not have ignored it for so long but that's another story and I am not here to make excuses for myself. I was paying it off until about 1 year ago when the charges got outrageous and I couldn't afford to even pay my college loans anymore. So, I know I am not protected under the SOL - if I ever was being that it is a business card.

Can I still ask for validation of debt? Should I? I don't want to even talk to them and risk stating that it's my debt if there is a way around this. Will this come back to my Ex even thought the company dissolved - I don't want to do that to him either. Or, should I just call and see if I can pay them off in installments?? I don't have the money to pay it all at once.

Any ideas or advise would be appreciated. Thank you!!

[Antigone]

My question involves collection proceedings in the State of: Maryland

My situation is a little different from others I've read and I was hoping to get some insight as to what the differences means in terms of my rights and how I should proceed.

I have been contacted by a debt collector several times in the past year via letters etc. I have never responded. I am now being contacted by an attorney who's letter head states he is not licensed except to collect debts (or something like that). The last letter I received stated a court case # and now I am worried.

Background:This debt is on a small business credit card for a business which was dissolved years ago. The bank issues the card to the company with my name on it. So, they do not have my SSN it was issued under the company EIN. The company was an S corp LLC if I remeber correctly. It was created by my Ex so that both of us could use it for our side businesses that we were involved in. I was managing promotions/events for a new beverage company that never really took off. I used the card for both personal charges and business.

So, they are now coming after me b/c my name is listed on the card. Nothing is on my credit report YET thank goodness! I figured it is b/c this is in the company name. Howver, in essence, the debt is mine. I know I should not have ignored it for so long but that's another story and I am not here to make excuses for myself. I was paying it off until about 1 year ago when the charges got outrageous and I couldn't afford to even pay my college loans anymore. So, I know I am not protected under the SOL - if I ever was being that it is a business card.

Can I still ask for validation of debt? Should I? I don't want to even talk to them and risk stating that it's my debt if there is a way around this. Will this come back to my Ex even thought the company dissolved - I don't want to do that to him either. Or, should I just call and see if I can pay them off in installments?? I don't have the money to pay it all at once.

Any ideas or advise would be appreciated. Thank you!!

You most likely signed a personal guarantee. If you did, you are on the hook financially

[divemedic]

You can always ask for validation, but they do not always have to respond. I always recommend asking for validation, just remember that if you do not ask within 30 days of the collector's initial contact, that they do not have to cease collection activity. If you do dispute the debt within 30 days, they must cease collection activities until they obtain validation and send it to you. Do not do this on the telephone, do it certified mail with some sort of delivery confirmation. NEVER communicate with a CA by telephone, because if it isn't in writing, it didn't happen.

Also, if the letter that you got from the collector had a case number that looks as if you are being taken to court, you need to keep that letter, because if you are not actually being taken to court, they have just broken the law. You can use that as ammunition in an FDCPA suit, should things go that far.

[CatS]

I went into the MD district court website yesterday and searched for the case filing via case number, my last name, and the "Client" name (whcih is some attorney network). There was no record of it, but I did find a record of what appears to be a similar case under the Client name where they are trying to recover $ from an individual.

A couple of questions, if anyone can answer:
1. Am I protected under the FDCPA even though this was a business card?
2. Since the client is listed as this attorney network, does that mean they bought this debt from the creditor?
4. I have read that these groups buy the debts at a considerable amount less than the actual requested amount. If I offer them a lump sum at maybe 50-60% of what they are asking, do you think I have a good chance to settle at this lesser amount?
5. Any suggestions on how to proceed?

My thought is to send a letter saying I received the notice and asking for validation. Then, try to set up a settlement deal where I pay them maybe three installments for several hundred at a time. If I agree to pay them couldn't they use that as evidence if we do go to court that I accept/admit this is my debt? I think I can scrounge up $500 to pay them, but even that is pushing it. It appears they have tacked on about $400 in interest, late fees, etc so they say I owe them over $1000. I know that's not a lot to some. Any info is greatly appreciated.

[divemedic]

1. Am I protected under the FDCPA even though this was a business card? [COLOR="Blue"]Until validated, how can you know?[/COLOR]
2. Since the client is listed as this attorney network, does that mean they bought this debt from the creditor? [COLOR="blue"]Who knows?[/COLOR]
4. I have read that these groups buy the debts at a considerable amount less than the actual requested amount. If I offer them a lump sum at maybe 50-60% of what they are asking, do you think I have a good chance to settle at this lesser amount?[COLOR="blue"] Again, how can I know what they will do?[/COLOR]5. Any suggestions on how to proceed? [COLOR="blue"]Send the dispute. See what happens.[/COLOR]