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anyone can take you to court.....winning is another story
Quote:
Originally Posted by adweaver
Some people on here are wrong, I have a credit card debit from 2004 for $1404. Guess what? im being sued, was served the papers yesterday and due in court with in ten days. Im hopeing to get them on a technicality since how the contract that is with my suit papers is dated 7/18/2002, which of coarse means sol has run out......will keep you posted.
Some people on here are wrong, I have a credit card debit from 2004 for $1404. Guess what? im being sued, was served the papers yesterday and due in court with in ten days. Im hopeing to get them on a technicality since how the contract that is with my suit papers is dated 7/18/2002, which of coarse means sol has run out......will keep you posted.
What you are stating does not make sense to me.
1. You opened the account 18 July 2002?
2. You failed to pay on or about ________, 2004? And that was the last activity on the account?
3. The creditor filed suit on or about _______, 2006 or _______ , 2007?
The SOL will be bounded by the difference between question #2 and #3.
In very gross terms I see about two years, maybe three between your breach of the contract by non-payment, and the creditor filing suit. I suspect you will not be covered by a SOL defense. What state is the suit in?
It is rare that a normal bank CC will sue for (only) $1400. Who is it? You may be able to settle for less in advance of court.
Please don't feel sorry for the credit card companies. They are money-making machines. Don't even let anyone try and make you feel guilty for not paying them. Just learn from the lesson and in the future try and manage your money better.
greenie
He/She spent money that he/she didn't have.. He/She should try to pay it back. Makes zero sense to blame this on the credit card companies. As such He/She is now stealing money from everyone on this forum in the way of higher interest rates, new fees etc to cover His/Her debt.
The money doesn't just float away or disappear... As you said.. they are money-making machines.. they just find someone else to pay the bill.
He/She spent money that he/she didn't have.. He/She should try to pay it back. Makes zero sense to blame this on the credit card companies. As such He/She is now stealing money from everyone on this forum in the way of higher interest rates, new fees etc to cover His/Her debt.
The money doesn't just float away or disappear... As you said.. they are money-making machines.. they just find someone else to pay the bill.
A feature that this thread (and some others) have ventured (far) away from is
The ideal should-be world would work for everyone -- if everyone followed it.
In that ideal world, folks could and would pay back money as they should. Also in that ideal world, lenders would have fair and honest terms -- after legit review of a customer's debt capacity -- for repayment of any debt, including late debt.
That is not what this thread is about from either side.
The typical borrower is a chump who has not read the terms, or did not understand them if they did. Otherwise, they would probably not even being doing business with the bottom feeding scum creditors described herein.
On the other side, the CC companies target these people because they are easy to cheat. They feed them enough to get them "caught," and lay back in wait for a violation so they can:
1. Create Late Charges,
2. Create Overlimit Charges based on the Late Charges,
3. Shift the interest rate into levels that would have been totally illegal just a few years ago. (thank you, corporate R's and D's).
4. Add collection fees,
and then --
Try to take the chump targets' paychecks.
This is not accidential. It is a well thought out and well played attempt to rip off the dolts on the bottom end. CC companies are not innocent victims, it is intentional.
Samples in this thread alone have shown low hundred dollar debts being cranked into the thousands in 4 years -- solely to target the folks on bottom with the maximum billing at the limits of the legal system.
If the CC's wanted legit collection, they could sue and collect at 6 months, without crazy fees, and without sky high interest. That is how legit business is done.
A feature that this thread (and some others) have ventured (far) away from is
The ideal should-be world would work for everyone -- if everyone followed it.
In that ideal world, folks could and would pay back money as they should. Also in that ideal world, lenders would have fair and honest terms -- after legit review of a customer's debt capacity -- for repayment of any debt, including late debt.
That is not what this thread is about from either side.
The typical borrower is a chump who has not read the terms, or did not understand them if they did. Otherwise, they would probably not even being doing business with the bottom feeding scum creditors described herein.
On the other side, the CC companies target these people because they are easy to cheat. They feed them enough to get them "caught," and lay back in wait for a violation so they can:
1. Create Late Charges,
2. Create Overlimit Charges based on the Late Charges,
3. Shift the interest rate into levels that would have been totally illegal just a few years ago. (thank you, corporate R's and D's).
4. Add collection fees,
and then --
Try to take the chump targets' paychecks.
This is not accidential. It is a well thought out and well played attempt to rip off the dolts on the bottom end. CC companies are not innocent victims, it is intentional.
Samples in this thread alone have shown low hundred dollar debts being cranked into the thousands in 4 years -- solely to target the folks on bottom with the maximum billing at the limits of the legal system.
If the CC's wanted legit collection, they could sue and collect at 6 months, without crazy fees, and without sky high interest. That is how legit business is done.
I never said the CC companies were innocent victims.. in fact I said they are money generating machines and if some people don't pay them back they simply pass that cost on to the rest of us.. maybe in higher fees they charge to run a transaction.. maybe in late fees.. either way the rest of us pay for it..
I never said the CC companies were innocent victims.. in fact I said they are money generating machines and if some people don't pay them back they simply pass that cost on to the rest of us.. maybe in higher fees they charge to run a transaction.. maybe in late fees.. either way the rest of us pay for it..
Not trying to debate or even be disagreeable -- but I have to completely disagree.
They do not cost me one thin dime. I do not have the predator cards "in my wallet" as they advertise. I pay no "annual membership fees," no late charges, no overlimits, and no interest.
They can be as stupid as they can afford and lose all their investor money for all I care.
Problem from my perspective is many are backed at some level by banks who have the federal insurance we all back. When the idiots MBAs have wrecked their businesses by their own corrupt practices, they will want all of us to bail them out. Welfare for white men in business suits is the most expensive welfare there is.
But overall their practice of attempting to cheat poor dumb folks is morally repulsive to me. Now that it has become the defacto business standard of America, that truly harms all of us.
I never said the CC companies were innocent victims.. in fact I said they are money generating machines and if some people don't pay them back they simply pass that cost on to the rest of us.. maybe in higher fees they charge to run a transaction.. maybe in late fees.. either way the rest of us pay for it..
I had a debt of approximately $28,000 for a while a few years ago spread over four different credit cards. The credit companies fell over themselves to help me get into debt and, through my own greed and stupidity, I fell for their sales talk. I loved the feeling of being able to walk into a store and buy more or less whatever took my fancy and this made the debt very, very easy to build up - although I have to admit that a lot of it was spent on some pretty stupid stuff. Of course, they all seemed like perfectly sensible purchases at the time!
However, when I eventually came to my senses, I realised that I couldn't carry on like this and decided I had to do something about it. I cut up three of the cards and started the hard work of paying them back. I limited myself to the bare minimum of living expenses and used the rest of my monthly salary to whittle away at the debts. Of course, it didn't help that the average annual interest charges on the cards was around 21% at the time but after more than three years of some pretty miserable times, I was finally able to pay off the last of them.
Since then, I have made sure I only ever spend as much as I can afford to pay off the following month, which means that I never have to pay the credit companies any more interest.
It is entirely up to you how you decide to live your life and I'm not going to say whether you are right or wrong to try and avoid paying your debts. All I know is that I couldn't live with having to keep looking over my shoulder worrying when they were going to catch up with me.
Not trying to debate or even be disagreeable -- but I have to completely disagree.
They do not cost me one thin dime. I do not have the predator cards "in my wallet" as they advertise. I pay no "annual membership fees," no late charges, no overlimits, and no interest.
They can be as stupid as they can afford and lose all their investor money for all I care.
Problem from my perspective is many are backed at some level by banks who have the federal insurance we all back. When the idiots MBAs have wrecked their businesses by their own corrupt practices, they will want all of us to bail them out. Welfare for white men in business suits is the most expensive welfare there is.
But overall their practice of attempting to cheat poor dumb folks is morally repulsive to me. Now that it has become the defacto business standard of America, that truly harms all of us.
Ahh but you do.. you just don't know it. Those $'s will also be passed down to the consumer..
Retailer or whoever else has to pay higher transaction fees.. So.. the retailer raises the prices on goods and services.. Doesn't really matter if you don't use a card.. you can use pure cash or the barter system.
Ahh but you do.. you just don't know it. Those $'s will also be passed down to the consumer..
Retailer or whoever else has to pay higher transaction fees.. So.. the retailer raises the prices on goods and services.. Doesn't really matter if you don't use a card.. you can use pure cash or the barter system.
That might be what they teach in consumer economics -- in truth, prices are just made up. Just works of fiction -- based on what a merchant, supplier or retail level thinks the market will bear.
Let me give you some examples -- 0% interest for 12 months on a new card -- a typical CC come-on, correct? Does that indicate that somehow the costs are less? Not at all. They just set the price to make a sale. The price was make believe to start with. On the human level, maybe think of garage sales. There are no real prices there, right? Just made up prices with stickers.
Older small time retail example. I have a friend and his family has owned a nursery (trees, plants, and the like) for years. At the holidays when people mess with plants -- e.g. Memorial Day, July 4th, Labor Day, etc., he takes the plants that have not sold lately, puts a red bow on them, marks the price UP, puts holiday sale signs out and sells out the stock. The prices are just made up. The prices are set by hype and what folks will pay. No increase in costs, there.
A Big-time more modern retail example. Pier One -- big importer you may be familiar with. All made up prices. A few years ago, they wanted to hire my crew to open all their boxes in a depot level warehouse and change the prices on the stickers. Thousands and thousands of cartons. The products come direct from overseas with the prices already stuck on the bottom.
A strong Christmas retail was predicted and they had decided they could stick their customers -- but those increased prices had nothing to do with increased costs.
No increase in costs -- they just figured they could stick the customer for more. That is how it works. Conversely, when they unload with a "sale," it is not because the costs went down -- they just want to dump some stuff. All make believe.
In the real world, I am a contractor. I do weird projects for weird people. My prices are totally made up. My motto for pricing is -- If the customer is easy on me, I make things easy on them. If they make things painful for me, I share the pain (in pricing) with them. So I do my pricing by a PITA factor (PITA stands for Pain In The @ss).
But it is all made up. The only part of business pricing where supply, demand and costs really factor into pricing are commodiites -- but that is whole different topic and not the general domain of credit cards sales.
That might be what they teach in consumer economics -- in truth, prices are just made up. Just works of fiction -- based on what a merchant, supplier or retail level thinks the market will bear.
Let me give you some examples -- 0% interest for 12 months on a new card -- a typical CC come-on, correct? Does that indicate that somehow the costs are less? Not at all. They just set the price to make a sale. The price was make believe to start with. On the human level, maybe think of garage sales. There are no real prices there, right? Just made up prices with stickers.
Older small time retail example. I have a friend and his family has owned a nursery (trees, plants, and the like) for years. At the holidays when people mess with plants -- e.g. Memorial Day, July 4th, Labor Day, etc., he takes the plants that have not sold lately, puts a red bow on them, marks the price UP, puts holiday sale signs out and sells out the stock. The prices are just made up. The prices are set by hype and what folks will pay. No increase in costs, there.
A Big-time more modern retail example. Pier One -- big importer you may be familiar with. All made up prices. A few years ago, they wanted to hire my crew to open all their boxes in a depot level warehouse and change the prices on the stickers. Thousands and thousands of cartons. The products come direct from overseas with the prices already stuck on the bottom.
A strong Christmas retail was predicted and they had decided they could stick their customers -- but those increased prices had nothing to do with increased costs.
No increase in costs -- they just figured they could stick the customer for more. That is how it works. Conversely, when they unload with a "sale," it is not because the costs went down -- they just want to dump some stuff. All make believe.
In the real world, I am a contractor. I do weird projects for weird people. My prices are totally made up. My motto for pricing is -- If the customer is easy on me, I make things easy on them. If they make things painful for me, I share the pain (in pricing) with them. So I do my pricing by a PITA factor (PITA stands for Pain In The @ss).
But it is all made up. The only part of business pricing where supply, demand and costs really factor into pricing are commodiites -- but that is whole different topic and not the general domain of credit cards sales.
So costs don't factor into price?
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Im hopeing to get them on a technicality since how the contract that is with my suit papers is dated 7/18/2002, which of coarse means sol has run out......will keep you posted.
