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disabilityatty, attorney
Category: Legal
Satisfied Customers: 258
Experience:  I have over 17 years experience in representing Claimants for Social Security disability and SSI.
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Back in 1999, I borrowed (around) $1200 from Bank of ...

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Back in 1999, I borrowed (around) $1200 from Bank of America. Thay told me I would only have to make a monthly payment of about $35. Payment notices started coming in about every 3 weeks or less and if I was late there was a $50 fee. I struggled to keep up with thee payment, called the office @ BA and they just said then you''ll just have to make more payments. I tried for a while longer, but soon was unable to pay. I had to have payed them the full amount in payments and penalties I made and finally just stoppd paying them. Now BA gave the loan to Worlwide Asset Purchasing, LLC and they are taking me to court for $4403.95 plus court fees and interest from 11/2005! Do I need a Lawyer? Is there a statute of limitations?
Submitted: 9 years ago.
Category: Legal
Expert:  disabilityatty replied 9 years ago.


When is the last time you made a payment? Did they require you to make more than the agreed upon payment each month? What is the reason you cannot afford tio pay? The answers to these questions will help me help you.


Customer: replied 9 years ago.
I last time I made a payment was probably in 2000. Between the bills coming earlier and ealier, and the huge penalties for being late, I couldn't afford to pay them anymore.

I was contacted a couple years ago, I believe, by a Bank One agent. Ge offerred me a a settlement of $1800, which I didn't have. I had been out of work and my family was helping me stay afloat. I offerred to pay the $1800 if I could do it in more than 1 payment, but they refused.
Expert:  disabilityatty replied 9 years ago.


If they demanded payments more than once a month, they violated the terms of the contract and therefore breached the contract. The reason they are demanding so much at this point is an accumulation of fees, etc.

You must keep the court date, or the court will enter a default judgment againt you for the entire amount. Technically speaking, the statute of limitations for a contract in most states is six years. This means that the statute of limitations may have already theoretically expired on your contract. However, each time you re-affirm the debt by admitting you owe it, or make a payment, the contract renews itself, so you are still under the contract terms. But their breach of the contract by demanding payments more than once a month is an affirmative defense for you.

If you can get an attorney, that would be best. Sometimes your county bar association has a list of pro bono attoneys who will accept cases like this free of charge.

But you do not need an attorney if you cannot afford one. On the day of the hearing, you should take a copy of the contract, and also any canellled checks or any other proofs of payment. Also, if you are receiving public assistance or any other benefits, please take proof that you are on a limited income to the court.

The court will allow you to explain your situation and then will make a decision as to whether you have to pay back anything at all. It might be that the court will ask you how much you can afford and then force the bank to take that amount of money per month or in one lump sum.

However, if you do not keep the court date, you will not be able to get any adjustments to the debt. Hope this helps.


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Customer: replied 9 years ago.
One problem. This initiated almost ten years ago. I can't produce a copy of the contract, nor find any cancelled checks at this point. Does this mean I'm sunk?
Expert:  disabilityatty replied 9 years ago.


Perhaps your bank can get you copies of cancelled checks. If you cannot retrieve them, though, that may be a problem. The lender however may have the payment copies (if they are honest). As for the contract, the lender will have to produce a copy of the contract, and you can verify the terms and your signature to the Court. You are still in a better position keeping the cort date, no matter what. Hope this helps.