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CalAttorney2, Attorney
Category: Legal
Satisfied Customers: 10206
Experience:  Civil litigation attorney for individuals and businesses.
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My debt was bought by a company that just buys debt and that

Customer Question

My debt was bought by a company that just buys debt and that was about 5 years ago I think. I was in my family business that my father ran since I was 14 and I owned about 15% of it I believe. At 21 or 22 that business was sued for 830,000 by a bank and by an insurance company for unpaid loans and debts. though I was not with the business at the time and I had no idea about any of the details or what was actually going on. They auctioned off the property that was owned by said business that was worth about 600,000-800,000 and all of the assets. I was never personally notified of any of the proceedings nor did I receive any certified mail. So i didn't know exactly what I owed all I got was vary vague answers from my family as to what was going on. I then about 3 years ago started my own business then last year I got my credit report after I hired a bookkeeper who helped me because she looked at court view an saw that I had been sued for close to a million dollars as part owner of this company. When I received my credit report it said that I owed two different large debts one for 14,000 and one for 30,000 to debt collection agencies. I am 28 now.I was never contacted about this at all in anyway. I am wondering if this is at all legal for them to do as far as credit laws go to ruin my credit and sell my debt with out any notifications to me via certified mail or personal contact and what can I do to fight back.
Submitted: 6 months ago.
Category: Legal
Expert:  CalAttorney2 replied 6 months ago.
Dear Customer,I am sorry to learn of this situation.What you need to review is the case files in the underlying collections lawsuits. What you are going to look for are the "proofs of service" in the cases to determine whether or not you were properly served with the complaints in the case(s). If you were not served (or the cases show you were not served - commonly called "sewer service" - where the process server claims they served you but they didn't actually do it), you can retain an attorney to set the underlying case aside, and you can potentially beat the case simply due to the statute of limitations.Given the amount of money you are talking about here, you really should invest in retaining a local civil litigation attorney to help you with this. The age of the judgments makes it difficult to deal with, and you will want as much of an advantage as possible.

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