Last Date of Delinquency

[Anonymous]

You may want to double check Texas SOL, as I recall from being a resident there. SOL is different from medical and what's classified as a "Bank" SOL. But! I do remember creditors have to have a surety bond(basically permission) to practice debt collections, if they don't have one, they get a nice little fine. And Texas does like to enforce this!

"The Texas Civil Practice & Remedies Code provides a 4-year limitations period for types of debt. The SoL begins after the day the cause of action accrues, (Section 16.004 (a) (3))."

I would research big time before you do anything!

[Madmax26]

Thanks for your input singlefather.

I'm going go ahead and repost my question.  Anyone please feel free to chime in

The DOFD is August of 2008 I don't know who quick it takes to get a case on a court docket.  Anyone have any idea? 

Btw, the CA is that is pursuing this is ERS.  When they call they say are going to send me a legal notice.  When the call they don't say the normal "this is an attempt tocollect a debt any and all information will be used for that purpose".    Isn't that requred by federal law?

[p-]

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@Madmax26 wrote:

Thanks for your input singlefather.

I'm going go ahead and repost my question.  Anyone please feel free to chime in

The DOFD is August of 2008 I don't know who quick it takes to get a case on a court docket.  Anyone have any idea? 

Btw, the CA is that is pursuing this is ERS.  When they call they say are going to send me a legal notice.  When the call they don't say the normal "this is an attempt tocollect a debt any and all information will be used for that purpose".    Isn't that requred by federal law?

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Face the facts.  None of that is going to get you out of it.  Look, you're already on their radar, chances are they'll take you to court.  But they would rather not incur the costs and hassle.

So, how much is it?  Do you have the money to pay?  It sounds like you really did borrow the money, so why not offer a PFD to them?  Offer to pay the original amount of the loan balance, but not the added fees from collection, and see if they'll go for it.

Them not saying the disclaimer on a call is not going to be your "get out of jail free" card.  They have you by the short hairs, time to start negotiating.   The last thing you want is a judgement.  Then they'll get your money and RUIN your credit.  And as far as docket timing, the CA knows EXACTLY how long it takes.  They're not going to miss it.

[Madmax26]

I was not operating under the notion I "get out of jail free card."  I was just curious is all.  The amount is for $400 and I don't have the money to pay.  I have no idea what I should do.

[p-]

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@Madmax26 wrote:

I was not operating under the notion I "get out of jail free card."  I was just curious is all.  The amount is for $400 and I don't have the money to pay.  I have no idea what I should do.

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Scrape it together somehow.  Sell some stuff on Craiglist or ebay, have a garage sale, eat ramen for a month, sell your plasma, go to Labor Ready or a temp agency on your day off, whatever.  Find the 400 bucks.

I'm not trying to be harsh, but I've had a judgement, as have lots of people here.  It will haunt you, and every day you will wish you had done something to avert it. 

What you should do is negotiate payment before it's too late.  And never do another payday loan.  Never.  Those outfits are bottom feeding rip-off artists, and it's a trap.

I know it's hard to pull 400 bucks out of thin air...  but you have to find a way.  Best of luck.

[Madmax26]

No, I understand and appreciate your honesty.  I still have not recieved anything in the mail yet saying whom I owe the debt.  I assume it's good to have some hardcopies so I can have something for my records.  Also, do you think it's wise to send them a DV letter?    I ran my experian report and it's not on there...yet.  Would it be safe to assume it's on TU and Equifax?  Please advise.

[Madmax26]

If anyone has any other insight please feel free to share.  I really appreicate the vast amount knowledge this community has.