Upcoming Foreclosures

Law office called Friday?

Had a lawyer call from a law office demanding a payment in full of 16k by monday, this was in regards to a truck that got repo'd back in 97. I told him whatever! Then he told me that he is having my home appriased and get the bill out of our equity on our home. Anyone know California laws with this. This guy told me this could cause my home to fall in foreclosure. I got my home when my dad passed so i dont have a mortgage, very concerned.

Public Comments

1. It's possible. In most circumstances the creditor would have to get a judgment against you first. Normally the way this works is you are sued in your local small claims or general sessions court. If you don't show up they'll get a default judgment. If you do show up and lose, they'll get a judgment against you. A judgment owner has alot of rights. In some cases they can levy your property, including your home. Forcing foreclosure would be more difficult. You might want to talk to a lawyer or asset protection specialist. You should never own your home free and clear in your own name; either keep it heavily leveraged (thus making you an unattractive target for creditors) or place it in a trust and therefore out of reach.
2. First, confirm if he is "really" a lawyer and not some slimy bill collector pretending to be one....Collection agents love to pretend to be attorneys or to imply they work for one. This is against federal law per the Fair Debt Collection Act. Request to know his full name and ask him for his license # in the Ca. state bar association. If you have any doubts....contact the state bar association to confirm that he is really an attorney. FYI, the Statue of Limitations for written contracts, oral and open accounts in the state of California is four years. I don't believe they have any legal power over you for a repo from 1997 unless there is specially an outstanding judgment against you for this. Check your credit report to confirm. Next time he calls, tell him: Per the Fair Debt Collection Act, I am requesting validation of this alleged debt. Do not say anything else. DO NOT admit any liability to this debt. DO NOT let him scare you with bogus threats like sending the sheriff to your house for not making a payment....He has no such power over you.
3. I am thinking this guy is full of crap- there was a difference in values then he tacked on interest ect. I am doubting that he has a judgment against you as the previous post stated. They would of it your home already. Pull your credit "annualcreditreport.com" check to see if any judgments are on there. This debt would be passed the SOL IF not send this lawyer this letter, Your name Your street address Your city Date RE: Account no. Dear Sir/Madam, This is to request you to CEASE and DESIST from your efforts of collecting debt payments on the above referred account. . You are hereby instructed in accordance with the federal and state laws, to stop all collection efforts immediately or face legal sanctions. .. Cordially, Your Signature Your Name
4. Typical junk debt collection agencie practice. They will call and state they are a lawyer which is illegal under the following.15 U.S.C. § 1692e. False or misleading representations. This debt is so far beyoind the staute of limitations that they have no legal recourse and cannot touch your home. The only way they could toll (re-set) the limitations is to prove that you moved away to avoid contact and paying the debt. Next time they call, get all his info and check them out at this link http://www.budhibbs.com/drowning_in_debt.htm Hope this is of help I invite you to join the following Yahoo group "DontGetRippedOff" dedicated to helping those in financial trouble, Here you will find information to help you with debt collection agencies. http://finance.groups.yahoo.com/group/dontgetrippedoff/