@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Anonymous wrote:
@Brian_Earl_Spilner wrote:Something else to keep in mind, if she got those cards and limits prior to becoming disabled and going on a fixed income, she will probably not be able to come close in the future because of the fixed income.
Sorry, what do you mean by come close?
You said she's in the hole for about 50k. If you lose those cards and limits, she won't be able to get them again on disability. At least in California you wouldn't be able to.
I could always just add her as an au. This isn't as easy as it seemed.
Depending on the bank, you may not be able to do that. Amex and Discover are two examples of banks that will not allow someone to be an AU if they defaulted with them.
@Anonymous wrote:
@Brian_Earl_Spilner wrote:
@Kree wrote:
@Anonymous wrote:
@Brian_Earl_Spilner wrote:
If you live in a community state, and the cards were opened after you were married, the creditors can come after you since she's judgement proof. Even if you aren't in a community state, they will try to get you to pay even though you aren't legally obligated, unless it was a joint application, Then they have every right. SOL doesn't matter for her as they can't get any monies. That being said, the negative accounts will stay on her credit for 7 years. In addition, they can still obtain a judgement in court for the debts, they just can't collect. Those judgements will stay on her report for 7 years.so_broke_it_hurts, love the name! We're not a community state so that's good news. They can try, but I'm not going pay, since no cards were joint applications. In NY, I was reading that regarding the credit, it says the SOL depends on the state of the bank. So for Discovery for example, the headquarters is in DE. The SOL for DE is 3 yrs. So does this mean once she stops paying it will show up for 3 yrs on her report then drop off?
the SOL is how long they can Sue her. In NY it will remain on her report for 6 years I believe. (7 years everywhere else, someone else might correct me.)
There is also a SOL on how long they get to try and collect the money from the judgement. That's the 10-20 years. They can go back to the courts to get the judgement renewed to extend the amount of time to try and collect.
OP: they can use their location or your location. They'll choose whichever location has the longer SOL usually, and sue in that jurisdiction.
The most common state in which creditors incorporate is Delaware, which has a 3-year statute of limitations for debt-collection lawsuits (10 Del. C. § 8106). So, for example, if you had a Discover Bank credit card that you stopped paying on January 1, 2012, and Discover Bank transferred your delinquent account to a third-party debt buyer, such as Portfolio Recovery Associates, LLC, then since Discover Bank is a Delaware Corporation, Portfolio Recovery Associates, LLC, would have until January 1, 2015 to sue you for the debt. Since Discover Bank is a Delaware Corporation, a 3 year statute of limitations would apply to your New York Discover Bank credit card debt, even if your credit card debt is transferred to a local third party debt collector, such as Portfolio Recovery Associates, LLC.
This is for NY
You're getting this stuff confused. New York has laws that prevent creditors from using their SOL limits. That doesn't mean they can't sue you wherever they want. They could file in New York. Or, they can file in their home state, which could be advantageous to them if they're based in say, Utah. You can answer the lawsuit by written communication, but need permission to remotely participate, from the judge. Otherwise you have to get to Utah for your case. They could sue you in the state you lived in when you got the card. So, if you lived in Hawaii at opening, they could make it harder for you to appear by filing there. They can also sue wherever you used the card the most. For example, if you were stationed in Alaska for the majority of the time using that card, they could use that jurisdiction to make it harder for you to show up.
In your situation, the defaulted account will remain on her credit for about 7 years from first delinquency. The SOL for suing her would depend on where the bank is located. So, if you use Discover, 3 years from last payment made. And the judgement SOL would depend on jurisdiction of court making judgement, which could be between 10-20 years. On top of that, the creditors can go back to the court to try and have the judgement extended. And on top of all of that, the moment your wife comes into money or any kind of asset while having a judgement against her, it will usually end up with it getting a lien or levy.
People get spoiled by cards getting charged off and aging off. Nobody thinks about the lawsuit until it happens to them. I was sued by Capital One for $1200 in my home state. First and only time in 20 years. I've owed way more before to other creditors. But Cap1 got me for $1200. In California, that judgement stays on my report for 7 years.
@pipeguy wrote:@
You're getting this stuff confused. New York has laws that prevent creditors from using their SOL limits. That doesn't mean they can't sue you wherever they want. They could file in New York. Or, they can file in their home state, which could be advantageous to them if they're based in say, Utah. You can answer the lawsuit by written communication, but need permission to remotely participate, from the judge. Otherwise you have to get to Utah for your case. They could sue you in the state you lived in when you got the card (questionable). So, if you lived in Hawaii at opening, they could make it harder for you to appear by filing there. They can also sue wherever you used the card the most. For example, if you were stationed in Alaska for the majority of the time using that card, they could use that jurisdiction to make it harder for you to show up.
In your situation, the defaulted account will remain on her credit for about 7 years from first delinquency. The SOL for suing her would depend on where the bank is located. So, if you use Discover, 3 years from last payment made. And the judgement SOL (judgment SOL?) would depend on jurisdiction of court making judgement, which could be between 10-20 years. On top of that, the creditors can go back to the court to try and have the judgement extended. And on top of all of that, the moment your wife comes into money or any kind of asset while having a judgement against her, it will usually end up with it getting a lien or levy. Debt collection is a civil matter regulated by state law & state courts which varies by the state. Federal law such as the FDCPA offer a basic umbrella for basic principles and "rights" .
**************
Sorry to contradict, but many/most of the statements you mentioned in your post are incorrect - I've highlighted the "red flags" in red.
To the best of my knowledge a debt collector has to sue you in the state where you live - it has nothing to do with where the lender is headquartered if so SD and DE courts would be overflowing and default judgments would run almost 100% - nor does it matter what or where you purchased items on your credit card.
"Under the FDCPA, a debt collector can sue you only in the judicial district where you signed the contract underlying the debt or where you reside or where the real property securing the debt is located."
The SOL is based on your state of residence and regulated by state law. Debt collectors in most states must be licensed in the state that they sue you in - see LVNV vs Claas Action Suit in Maryland (U.S. District Court in Baltimore) where LVNV was "doing business" aka suing and getting judgments but they were not licensed in Maryland - guess who lost BIG TIME that case.... hint it wasn't the Maryland class action.
Finally, credit card debt based judgments are dischargeable under Chapter 7 bankruptcy.
https://www.bankrate.com/finance/credit-cards/state-statutes-of-limitations-for-old-debts-1.aspx
http://www.baltimoresun.com/business/bs-bz-debtors-settlement-lvnv-20110909-story.html
https://www.nolo.com/legal-encyclopedia/will-bankruptcy-get-rid-lawsuit-judgments.html
When I use the term judgement SOL, It's from lack of a better term. The creditors have a set amount of time to collect their award, but unlike the actual debt, they can go back to the courts to request more time to collect.
As for locations, unless something has changed, I believed it to be accurate. It at least was at one time. There are always local laws that will have to be factored in, like New York, where they are better at protecting debtees than California. That being said I was sued by Freedom Stereo (a rent-a-center type of business that preys on military) in their home state of Virginia (I live in California). I was able to get the case withdrawn however by arguing the validity and SOL on that debt. I don't remember how long ago that was, but I was married and we're about to celebrate our 10 year anniversary in June, so I would guesstimate around 8 years ago. I'd have to find the paperwork. Capital One on the other hand hired a local attorney to sue me here.
If that info is no longer valid, then I apologize to the OP for giving wrong info.
Op, an sorry to hear about your current situation and your wife's medical condition. I dont have much to add but Express my sincerest hope that you will find a way
. This is also a stark reminder or a possible outcome of having too many credit cards and how things can go south fast. I myself have alot of cards and this just helps me remember I need to reduce . Thank you and best of luck
. This is also a stark reminder or a possible outcome of having too many credit cards and how things can go south fast. I myself have alot of cards and this just helps me remember I need to reduce . Thank you and best of luck
