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  1. #1
    Join Date
    Oct 2013
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    23

    Default What Can a Credit Issuer Do to Recoup Their Money

    My question involves collection proceedings in the State of: Virginia

    Iím running into issues with my card issuers in regards to disputes. In Jan I had a machine shop work on my intake manifold and the shop owner did a horrible job, then tried to accuse me of CC fraud. He says I was going to send back my cylinder heads but left out the part about him telling me they needed to be milled in order seal properly despite being brand new. My CC company has been dragging ass on the case since I then.

    I just had an incident with Wal-Mart where they send a $60 phone card to an old email address of mine and even when speaking with the manager she acted like she couldnít hear me say repeatedly that I have the proper transaction and ticket number so she could pull up info and see it was sent to an account that is no longer active. I filed a dispute through PayPal for this one.

    Hereís my main question. Iím sick of this of crap going on especially when itís designed to protect the card holder but the merchant keeps finding ways to dupe the system. If these two transactions arenít refunded Iím cutting up all CCís and refusing to put anymore payments towards them.

    My family thinks Iím crazy for doing so and is trying to convince me that theyíll come take my car if I donít pay up. However upon looking it up the law in VA only allows debtor liens to be placed against real property, my car doesnít fall under the definition of real estate and I rent so the only thing they could do is garnish wages months if not years from now in the event I get sued. They also want me to believe itíll be looked at as a criminal matter which I know is a load of BS.

    Correct me if Iím wrong but the above paragraph in regards to what they can do to recoup any delinquency is right, isnít it?

  2. #2
    Join Date
    Mar 2013
    Posts
    15,492

    Default Re: What Can a Credit Issuer Do to Recoup Their Money

    Quote Quoting Hemispheres
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    Here’s my main question. I’m sick of this of crap going on especially when it’s designed to protect the card holder but the merchant keeps finding ways to dupe the system.
    The problem isn't the CC company or the merchant. It's you, for buying into the myth that a chargeback solves the problem with the merchant. It doesn't. A CC company is not a court of law and its decision is meaningless as to whether or not you owe the merchant the money. The merchant isn't duping anything by fighting the chargeback.

    Quote Quoting Hemispheres
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    If these two transactions aren’t refunded I’m cutting up all CC’s and refusing to put anymore payments towards them.

    My family thinks I’m crazy for doing so and is trying to convince me that they’ll come take my car if I don’t pay up. However upon looking it up the law in VA only allows debtor liens to be placed against real property, my car doesn’t fall under the definition of real estate and I rent so the only thing they could do is garnish wages months if not years from now in the event I get sued.
    Before your creditors can do anything to you (other than trash your credit score by reporting defaults) they would have to sue and get a judgment. Once they have a judgment, you're right, your wages can be garnished until the debt is paid. They can also levy your bank account.

    And, theoretically, they can execute against your car. Virginia exempts motor vehicles from attachment up to $6000. If you are driving a car that has more than $6000 in equity, it's fair game.

    Quote Quoting Hemispheres
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    They also want me to believe it’ll be looked at as a criminal matter which I know is a load of BS.
    You're right, it's no criminal matter unless you took out the credit card with the intent to defraud the credit card company.

    Bottom line, what you are contemplating can backfire with serious financial consequences that last for many years to come.

  3. #3
    Join Date
    Oct 2013
    Posts
    23

    Default Re: What Can a Credit Issuer Do to Recoup Their Money

    Well I guess the good news is my car is only worth about 4500 and isnít gaining any type of equity on its own. Iím well aware of the implications to my credit score but the way I see it I built up to a ďGoodĒ credit score in less than 2 years. Went from no credit history to A 3 year old car and a CC in 3 months.

    Bottom line is Iím not paying a cent especially when the CC issuers are taking heresay from the the Merchants without evidence as the true story and when I present documentation out the ass I still get shut down. My car has been sitting for 6 months now while they play cat and mouse, so Iím done with the games. When they started screwing me I began making minimum payments, now theyíll receive nothing.

  4. #4
    Join Date
    Mar 2013
    Posts
    15,492

    Default Re: What Can a Credit Issuer Do to Recoup Their Money

    Quote Quoting Hemispheres
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    I’m well aware of the implications to my credit score but the way I see it I built up to a “Good” credit score in less than 2 years. Went from no credit history to A 3 year old car and a CC in 3 months.
    Big difference between going from no credit and starting over with bad credit. Delinquencies stay on your credit report for 7 years and as long as they remain unpaid your score will be in the 500s for a long time.

    Quote Quoting Hemispheres
    View Post

    Bottom line is I’m not paying a cent especially when the CC issuers are taking heresay from the the Merchants without evidence as the true story and when I present documentation out the ass I still get shut down.
    As I wrote earlier, CC companies are not courts of law, they are not subject to Rules of Evidence, they are subject to the terms and conditions of your cardholder's agreement with regard to how disputes are handled. If you really have the documentation that you claim, you take your merchant to small claims court. If you aren't willing to do that, you are at the mercy of the CC company's process.

    Quote Quoting Hemispheres
    View Post
    When they started screwing me I began making minimum payments, now they’ll receive nothing.
    That's certainly your choice.

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