Consumer Protection Law

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I have 10,000.00 credit card debt. The company that I paid…

I have 10,000.00 credit...

I have 10,000.00 credit card debt. The company that I paid this money to is now closed through a class action suit for over 40 million dollars. I received a little over 1000.00 dollars. The 10,000.00 is still on my credit card and I have been paying interest on it to Wells Fargo for 6-7 years. I am a retired pastor with limited income. What can I do?

Lawyer's Assistant: What state is this in? And when did the issue begin?

California. About 8 years ago.

Lawyer's Assistant: What steps have you taken so far?

I have contacted the Wells Fargo Fraud Dept. and the resolution team at Wells Fargo to no avail.

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Answered in 13 hours by:
3/23/2018
Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Consumer Protection Law
Satisfied Customers: 22,817
Experience: B.A.; M.B.A.; J.D.
Verified

Hello: This is Phillipsesq. Welcome to JustAnswer! I am reviewing your post, and I will post my response very shortly. Thank you for your patience.

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I am so sorry, but I am having trouble understanding your post.

Kindly review, edit, properly identify the parties and the issues, and resubmit.

Kindly note that I just came across your post. I do not have control over the question list or the promises made to you by the site as to the response time. I am just a site user just like you. Nonetheless, I apologize for the delay in response to your post.

Thank you for your patience.

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Customer reply replied 5 months ago
Approximately 7 years ago I engaged the services of The Tax Club in New York City through their internet program to learn how to set up a website business so that I could do biblical counseling over the internet. I have been a pastoral counselor to people in our area for over 40 years.
They charged me 5000.00 dollars twice for a total of 10,000.00 dollars for training which I received once a week for several weeks. After awhile the services stopped, I never set up the business and I was left with a 10,000.00 dollar debt on my Wells Fargo credit card. They encouraged me to use a credit card because I didn't have funds available. They were very slick in their approach.
A few years later I received a notice that they had been sued and through a class action suit, I received 1046.00 dollars. During this time I paid my credit card bill to Wells Fargo but paid little more than the interest that was due. At this point, we are several years beyond this transaction, I have paid several thousand dollars in interest to Wells Fargo and I wonder what my options are at this point. This ten thousands dollars in debt is crippling my wife and I financially and I would like to get rid of it if I can. I have limited income, no retirement from my work in the church and my wife has MS and accompanying medical bills. Can you help?

Thank you for the information.

Kindly give me a few minutes to review the information that you have provided and prepare my response.

Thank you for your patience.

Kindly note that I am working with multiple customers on the site and I respond to posts in order that they are received. If you have not heard from me it does not mean that I have ignored your post. It just means that I am currently working with another customer.

Thank you for your understanding.

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You may consider filing for Chapter 7 bankruptcy to wipe out the debt and other personal debts that you.

You would be eligible to file for Chapter 7 bankruptcy protection, if you meet the Means test—the income test. If your income is equal to or less than the current income guidelines for your family size in your state, you would be eligible to file for a Chapter 7 bankruptcy all things being equal. The income used in calculating the Means test is the income for the 6 months before the filing of the bankruptcy petition. This means that if you are filing for bankruptcy protection this month, March 2018, the income that would be used is your income from September 2017 to February 2018. If you are filing next month, April 2018, the income that would be used in the Means Test calculation would be the income from October 2017 to March 2018, etc.

Click on the link below to see the current income guidelines for your state:

http://www.justice.gov/ust/means-testing

https://www.justice.gov/ust/eo/bapcpa/20171101/bci_data/median_income_table.htm

The filling fee for Chapter 7 is $335.00. You may able to waive this filing fee if your income is 150% below the current poverty guidelines. Click here for current poverty guidelines:

http://search.uscourts.gov/search?affiliate=uscourts.gov&locale=en&query=poverty%20guidelines

You must receive budget and credit counseling from an approved credit counseling agency and obtain a Certificate of Credit Counselling to be filed with your bankruptcy case. The agency will review possible options available to you in credit counseling and assist you in reviewing your budget. Different agencies provide the counseling in-person, by telephone, or over the Internet.

It is usually a good idea for you to meet with an attorney before you receive the required credit counseling. Unlike a credit counselor, who cannot give legal advice, an attorney can provide counseling on whether bankruptcy is the best option. If bankruptcy is not the right answer for you, a good attorney will offer a range of other suggestions. The attorney can also provide you with a list of approved credit counseling agencies, or you can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/cc_approved.htm

After your case is filed, you must complete an approved course in personal finances. This course will take approximately two hours to complete. Your attorney can give you a list of organizations that provide approved courses, or you can check the website for the United States Trustee Program office at http://www.usdoj.gov/ust/eo/bapcpa/ccde/de_approved.htm

Consult a local bankruptcy attorney for further explanations of your rights and responsibilities.

The sites below are good resources for finding bankruptcy attorneys in your area:

http://www.nacba.org/

http://www.consumeradvocates.org

http://www.justia.com/

http://www.lawyers.com/

If you cannot afford an Attorney, then the next best alternative will be to use bankruptcy petition preparer. Bankruptcy petition preparers prepare bankruptcy forms but they cannot give you legal advice because they are not attorneys. You can do a search on Google to find bankruptcy petition preparers.

Goodluck with your case,

A 5-star positive rating to my response is appreciated so that I can receive credit for responding to your post. There is no additional cost to you for giving a positive rating. However, that is how I get paid for answering questions on this site.

Thank you for your cooperation.

Phillips Esq.
Phillips Esq., Attorney-at-Law
Category: Consumer Protection Law
Satisfied Customers: 22,817
Experience: B.A.; M.B.A.; J.D.
Verified
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