Just received a collection letter from Mann BRacken and need some advice

[vollybal]

Hello all! I received a letter from the law offices of Mann Bracken LLC and it stated that they are representing Palisades Collection LCC Assignee of US Bank. the amount is around 5400.00. I have a few questions as this account(Palisades) is on my CR but for 4700.00.

THis is some info that will help with the questions I have.

The only thing I can think that it would be was a car that was volunteerily surrendered in 2003 thru US bank. I was living in Illinois when That happened. Right after that I moved to North Carolina. I have been in North Carolina now for over 4 years. I looked on my CR and saw that the Palisades Account's DOLA is Nov. 2003. I see Us Bank on my CR as well and it's DOLA is also Nov. 2003 and has in the comments account transferred or sold and auto.

Here are my questions:

-- Has anyone dealt with the above CA and law firm?

-- How are they to deal with?

-- Would this be considered a third party collection/collector?

-- I was looking up SOLs and saw that North Carolina's is 3 years and since the DOLA of both accounts on my CR are NOV. 2003, does this make this debt invalid to collect on or pursue via courts?

-- If so, should I ignore the letter or respond with that the debt they have is out of SOL?

One thing I also wanted to inform you about was that I am planning to buy a home hopefully within 8 months and does this letter have any impact on that possibly mucking up the works??

[Anonymous]

This is a bunch of attorney that practice in several states N.C is one of them. And because they do collections all the time  they are treated the same as a CA

I would call the AG office in NC  and tell them that this is for a repo. in Ill..........the reason for this is to find out if they can use the longer SOL ( I do not think that they ca)   I believe that they would need to file in Ill.

SOL is longer then in NC........The OC has a right to file suit in the state where you received the loan OR where you live now.

NC  SOL is 5 years   from DOFD       DOFD is NOT the date that you turned the auto in!!!

In NC  they have until the last day of the month of DOFD  to file.(if your last payment was may of 2003.........they have in NC  until may May 31 2008 to file or be past SOL!

Message Edited by HappyDays on 07-28-2008 04:58 PM

[vollybal]

Thanxs for the quick response. I have a question about SOL in NC I thought NC SOL was 3 years? I also noticed that IL is 5 years. SO would that be in NC the SOL would have been nov. 31st 2006 and with IL it will be Nov. 31st 2008??

If that is the case would it make more sense to see if they do anything before dec 1 2008 because the one thing I do not want to happen is them update the activity to my CR as that would mess up my FHA mortgage qualification?

[Anonymous]

SOL goes by the type of account....a CC is an open account & other accounts that you pay month after month but not always the same amount....it is open to be reused

Promisarry note is...you pay the same amount of $ every month until the loan is PIF

Mortgage...auto loan etc.

An auto loan is a promisarre note....5 years in NC      6 years in Ill.

Message Edited by HappyDays on 07-28-2008 05:37 PM

[vollybal]

Happydays, THanxs for all the answers that I asked about! One more thing that I am curious about. I do not see on my CR the DOFD. I know I turned the car into them before Nov. 2003 but I am not sure what the exact DOFD was. The only thing I see is the Nov. 2003 for the DOLA. SHould I go off of that or is there a way to see when the true DOFD was??

Thanxs Again!!!