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rated:
Looking for advice about a creditor. I think I'm being sued by a credit card company (which is a first) but I was wondering when it would happen.

I always paid bills on time but had some life events a couple years ago I'm still recovering from (ie, left husband, sis died that week, then cuz I was in hospital with her too much before she died, I lost my job, and have since reunited with husband and we're better for it now as far as having a more healthy relationship and better communication and understanding of eachother, etc.) achem, anyway...we're still just one paycheck away from homelessness and trying to recover,  and no, we're not spending money on drugs or alcohol at all--we live in the sticks of northern Mn where jobs are sparse and pay, if any, is low. I don't try not to pay bills, but am just trying not to run out of fuel oil again this winter.

So this lady says she's coming to serve me some papers today at 3pm CST and I say we were planning on going to town for supplies (which we don't do often, it's a big deal, as we live an hour from town, and gas money is a big deal) and then this morning she calls again and I say one day is a bit short notice, and I didn't say it in a rude tone...just trying to reason with her. I'm sure her job has her on the defense and offense at the same time, but she rudely says she'll tell the judge I'm not being cooperative, and she then hangs up so I can't respond.

Plans changed and I actually will be home today.

So question: should I accept the papers she is bringing to my house today, and actually sign a paper stating I received them? Or should I not answer the door and pretend we're not home? Will that delay the court date? I just need enough time to try to find a pro bono lawyer. I'm waiting for a call back from legal aid, but there's no guarantee they have resources in this small town area to help us. I would really appreciate and use any good advice on where I can find info to represent myself in a competent manner?

Btw, I don't owe more than $1k. The company she said was on the envelope was a law firm I think. I checked my credit reports, and it's not on there. I'm not sure if she's representing the original creditor or if the debt has been sold to a collection agency. She gave me a ph# to call if I want to reschedule, but I haven't done that because I wanted to research to find out my rights and best course of action to leverage my position. Would calling them be bad if I don't agree to make a payment?

Thanks in advance.

(did I put this in the right forum?)

rated:
My question pertains to liquidating gift cards on a large scale.

If you had, say, $50,000 worth of Visa/MasterCard gift cards in various denominations, how would you go about liquidating those in a quick manner?

I know about the PIN/MO method, but there has got to be other methods.

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Expialidocious said:   Looking for advice about a creditor. I think I'm being sued by a credit card company (which is a first) but I was wondering when it would happen.

I always paid bills on time but had some life events a couple years ago I'm still recovering from (ie, left husband, sis died that week, then cuz I was in hospital with her too much before she died, I lost my job, and have since reunited with husband and we're better for it now as far as having a more healthy relationship and better communication and understanding of eachother, etc.) achem, anyway...we're still just one paycheck away from homelessness and trying to recover,  and no, we're not spending money on drugs or alcohol at all--we live in the sticks of northern Mn where jobs are sparse and pay, if any, is low. I don't try not to pay bills, but am just trying not to run out of fuel oil again this winter.

So this lady says she's coming to serve me some papers today at 3pm CST and I say we were planning on going to town for supplies (which we don't do often, it's a big deal, as we live an hour from town, and gas money is a big deal) and then this morning she calls again and I say one day is a bit short notice, and I didn't say it in a rude tone...just trying to reason with her. I'm sure her job has her on the defense and offense at the same time, but she rudely says she'll tell the judge I'm not being cooperative, and she then hangs up so I can't respond.

Plans changed and I actually will be home today.

So question: should I accept the papers she is bringing to my house today, and actually sign a paper stating I received them? Or should I not answer the door and pretend we're not home? Will that delay the court date? I just need enough time to try to find a pro bono lawyer. I'm waiting for a call back from legal aid, but there's no guarantee they have resources in this small town area to help us. I would really appreciate and use any good advice on where I can find info to represent myself in a competent manner?

Btw, I don't owe more than $1k. The company she said was on the envelope was a law firm I think. I checked my credit reports, and it's not on there. I'm not sure if she's representing the original creditor or if the debt has been sold to a collection agency. She gave me a ph# to call if I want to reschedule, but I haven't done that because I wanted to research to find out my rights and best course of action to leverage my position. Would calling them be bad if I don't agree to make a payment?

Thanks in advance.

(did I put this in the right forum?)
 

  let her serve you. Then worry about it. If it were me, I would not accommodate her schedule.
I'm actually surprised she's calling you. Usually if you're getting served, they just show up. perhaps it's a MN thing?
She's likely not representing anyone. IF you're getting served she probably gets contract work to serve people. She'll have no idea what's in it. She'll care if the document was served or not. You could be getting served with something completely unrelated to what you think it is right now.

If you get served, deal with it then. If it's finance related, you could create a thread here. Just remember that we're not lawyers (mostly).
If you get served because of some debt, and the debt's not on your credit report. Do some further investigation. If the debts not yours, you might be able to countersue and get your winter fuel paid for.
I would also suggest you start recording these phone calls (tell her you're recording them).
 

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Thanks for responding, Batman. I think she called because it would be 2 hours out of her way if I wasn't home. (1 hr ea way). I did break down and call the # she gave and the guy works for a firm in NY and he even pointed me to the NY gov site showing they are licensed there, for whatever that's worth. He's temporarily staying the action to sue in small claims court for a $300 claim and is giving me until tomorrow to call him and pay. Ha. Not happening. He said he didn't have to tell me who his client is until he serves me. Apparently he sent me a letter at my old address, which I didn't get because I moved a year ago and although I forwarded my mail thru USPS, all mail forwarding has stopped. I think I had 30 days to respond to his letter if I wanted to request cease and desist, but I'm not sure. He said my 30 days was up a week ago. I asked if he wanted my new address and he said no, which makes me worry they would try to get judgment against me by saying they tried to serve my old address. He said it was my responsibility to notify all my creditors of my new address. Anyway, I think I know who I owed $300 to and am tempted to call them, but the NY guy said they sold the debt, so I'm not sure if it would be in my best interest to deal with the original creditor.

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^^If the debt was sold, you'll likely have to deal with the agency who bought it. But like batman said... wait until you know what is in the doc to worry about it.

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Yeah, I think I'll just let them serve me (but I won't sign for it--I thought servers just had to hand it to you and run, lol--maybe I watch too much TV) so I can see who owns the debt and deal with them in court, since I can't work out a deal with them right now, especially not over the phone. I will get everything in writing, from all I've read about debt collection scams. Thanks for your input. This was more than just a good sounding board experience. Mwah!

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Expialidocious said:   Thanks for responding, Batman. I think she called because it would be 2 hours out of her way if I wasn't home. (1 hr ea way). I did break down and call the # she gave and the guy works for a firm in NY and he even pointed me to the NY gov site showing they are licensed there, for whatever that's worth. He's temporarily staying the action to sue in small claims court for a $300 claim and is giving me until tomorrow to call him and pay. Ha. Not happening. He said he didn't have to tell me who his client is until he serves me. Apparently he sent me a letter at my old address, which I didn't get because I moved a year ago and although I forwarded my mail thru USPS, all mail forwarding has stopped. I think I had 30 days to respond to his letter if I wanted to request cease and desist, but I'm not sure. He said my 30 days was up a week ago. I asked if he wanted my new address and he said no, which makes me worry they would try to get judgment against me by saying they tried to serve my old address. He said it was my responsibility to notify all my creditors of my new address. Anyway, I think I know who I owed $300 to and am tempted to call them, but the NY guy said they sold the debt, so I'm not sure if it would be in my best interest to deal with the original creditor.
  don't just pay. If you owe something, get validation of debt.
don't do anything without getting served.
For all you know, this could just be a scam.
start legally (http://www.aapsonline.org/judicial/telephone.htm) recording your phone calls (i'm not kidding).
If you talk to anyone again, get addresses and phone numbers (say you'll try to get a check in the mail). Send a cease and desist letter and a request for validation of debt via certified mail.
For all you know it could be someone else with your name they're after. i read this article today http://finance.yahoo.com/news/one-man-got-even-debt-103042195.ht... 
which I posted about in this thread http://www.fatwallet.com/forums/finance/1366242/ (I suggest you read that thread too, and consider posting there)
Even if it is your debt, these people have to follow the law. If they do not, you can sue them, and have a good chance of winning. Especially if they do not have clear written consent from you that says they can call you, and they call you.

 

rated:
Yes I was looking for my digital recorder. It's around here somewhere. Gotta figure out how to transfer digital recordings to CD or a legally acceptable format. Shouldn't be too hard.

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we have an upcoming vacation to Hawaii and expect to be spending between 3-5k. I am looking to open two cards one for me and the other my spouse. So far I have costco Amex (3% back on travel), discover it and BofA platinum rewards. Wife has Amex blue Edc and Dcu platinum visa. Looking for a cc with decent opening bonuses (some thing that I can maximize on) as it will affect my average age of accounts. So it better be worth the shot.

I read through the posts and shortlisted southwest (-50k mile after spending 2k- annual fee 99$) and chase sapphire preferred (40k plus 5k - after spending 3k). We usually don't travel a lot but planning to do some long due trips in 2015 before kids.

Are there any other options besides above mentioned cards. Thanks for your input in advance

rated:
Hello there
I vien will get some loan from an individual in the amount of 120,000 euro, payable on 5 years at an interest rate of 3% per annum. and I signed several documents and I would like to know if it's legal?

rated:
cknutrine6954 said:   we have an upcoming vacation to Hawaii and expect to be spending between 3-5k. I am looking to open two cards one for me and the other my spouse. So far I have costco Amex (3% back on travel), discover it and BofA platinum rewards. Wife has Amex blue Edc and Dcu platinum visa. Looking for a cc with decent opening bonuses (some thing that I can maximize on) as it will affect my average age of accounts. So it better be worth the shot.

I read through the posts and shortlisted southwest (-50k mile after spending 2k- annual fee 99$) and chase sapphire preferred (40k plus 5k - after spending 3k). We usually don't travel a lot but planning to do some long due trips in 2015 before kids.

Are there any other options besides above mentioned cards. Thanks for your input in advance

  Since you already mentioned Chase Sapphire, the one I see recommended a lot is Barclay Arrival.  I don't have either one so just throwing that out there.

rated:
thanks veckle

rated:
damianmarc said:   Hello there
I vien will get some loan from an individual in the amount of 120,000 euro, payable on 5 years at an interest rate of 3% per annum. and I signed several documents and I would like to know if it's legal?
 

  What do you mean by "I would like to know if it's legal"?
Are you asking whether:
borrowing from someone is legal?
whether paying 3% interest is legal?
Whether the documents you signed form a legal contract?
Whether the individual is a legal resident?

rated:
fwuser12 said:   
damianmarc said:   Hello there
I vien will get some loan from an individual in the amount of 120,000 euro, payable on 5 years at an interest rate of 3% per annum. and I signed several documents and I would like to know if it's legal?

  What do you mean by "I would like to know if it's legal"?
Are you asking whether:
borrowing from someone is legal?
whether paying 3% interest is legal?
Whether the documents you signed form a legal contract?
Whether the individual is a legal resident?

  also, it's Euros - what country is everyone in?
is there a nigerian prince involved?

rated:
Can someone please post the link to chase southwest biz card

rated:
cknutrine6954 said:   Can someone please post the link to chase southwest biz cardGo to the personal card, then look for "Are you a business owner? Click here"

rated:
scripta said:   
cknutrine6954 said:   Can someone please post the link to chase southwest biz card
Go to the personal card, then look for "Are you a business owner? Click here"

  I went to the personal card link, and didnt find anything abt business. I entered information and went through 3rd page with out any luck. 

rated:

rated:
Thanks boston one. I was looking for the business card with 50k miles opening bonus. I found the personal card with 50k miles. Looks like there is no business card with 50k miles. Thanks anyways

rated:
Hi Forum members,

Hope you can provide some advise and suggestions on improving my investment strategy.

I am a 37 male (married, wife not working, have a daughter) who came to US on temp work visa. Now, my company is processing my GC and I am planning to stay for at least the next 30 years in US. After that, I might go back to my home country if the cost of living compared is cheaper there.

Because I was not sure whether I will stay in US or go back, I never even thought of investing my savings I had so far as I wanted maximum liquidity. I have about 70K which I have accumulated during my temp work over the past years. I have started going through various finance forums like bogleheads, fatwallet etc and pretty much getting the idea that I should be investing my money in IRA and 401k (Not sure about 401k since I have no employer match). I am also thinking about investing in Vanguard total market Index funds and also invest some in P2P lending. Here is the breakdown I am thinking about.

Thinking about distributing the existing 70k savings as follows

5500 - Roth IRA
20k - Emergency fund (in case I get fired)
20k - Downpay seed fund
5k - Stocks
10k - p2p lending
Rest of the money - College fund for my daughter, probably 529 (Haven't researched the yearly contribution limit for this yet)

In addition to this whatever I am going to earn in the coming months, I am planning to save 50% of total paycheck (after 10% contribution to 401k which is distributed 50-50 among low fee S&P 500 index fund and International fund).This amount will be distributed as follows.

45% - Home downpay (This is my priority)
10% - Stocks
15% - P2P
5% - College Tuition fund (Most probably 529 GET program)
Full yearly contribution to Roth IRA.
Rest of the amount - Vanguard total market Index funds, REITS, TIPS

I am open to suggestions on how to improve or correct problems with my investment.

Thanks
Luke.

rated:
My wife is working on her MBA while working full time. We incurred $4k expenses on fees and books. Combined we earn close to 200k and may not be eligible to claim deductions. Can a 529 plan help?

rated:
fighterosorus said:   My wife is working on her MBA while working full time. We incurred $4k expenses on fees and books. Combined we earn close to 200k and may not be eligible to claim deductions. Can a 529 plan help?
  Not on federal income taxes, but there could be a state deduction.

rated:
Quick question.

Pay period: December 16 - 31, 2014
Pay date: January 15, 2015


Do 401k/HSA contributions on this check typically count towards 2014 or 2015?

rated:
Krazen1211 said:   Quick question.

Pay period: December 16 - 31, 2014
Pay date: January 15, 2015


Do 401k/HSA contributions on this check typically count towards 2014 or 2015?

  Both the income and contributions will count towards 2015.

rated:
Anyone know if you can sell e-gift cards anywhere? I have $500 Office Depot one I'm trying to unload, the main sites I've found online require it to be a plastic gift card

rated:
albinoritz2011 said:   Anyone know if you can sell e-gift cards anywhere? I have $500 Office Depot one I'm trying to unload, the main sites I've found online require it to be a plastic gift card
  Why don't you go to OD and buy plastic gift cards?

rated:
Hi friends, This is michael son. Here i am newbie this forum site. and discussion about the financial service.

rated:
Welcome, Michael. We look forward to chatting with you.

rated:
kenmoreland said:   
albinoritz2011 said:   Anyone know if you can sell e-gift cards anywhere? I have $500 Office Depot one I'm trying to unload, the main sites I've found online require it to be a plastic gift card
  Why don't you go to OD and buy plastic gift cards?

  
That seems so simple, sad that I never thought of it

rated:
albinoritz2011 said:   
kenmoreland said:   
albinoritz2011 said:   Anyone know if you can sell e-gift cards anywhere? I have $500 Office Depot one I'm trying to unload, the main sites I've found online require it to be a plastic gift card
  Why don't you go to OD and buy plastic gift cards?

  
That seems so simple, sad that I never thought of it

  
Just read the terms, it says it cannot be used to purchase other gift cards, so looks like this is out

rated:
Expialidocious said:   Thanks for responding, Batman. I think she called because it would be 2 hours out of her way if I wasn't home. (1 hr ea way). I did break down and call the # she gave and the guy works for a firm in NY and he even pointed me to the NY gov site showing they are licensed there, for whatever that's worth. He's temporarily staying the action to sue in small claims court for a $300 claim and is giving me until tomorrow to call him and pay. Ha. Not happening. He said he didn't have to tell me who his client is until he serves me. Apparently he sent me a letter at my old address, which I didn't get because I moved a year ago and although I forwarded my mail thru USPS, all mail forwarding has stopped. I think I had 30 days to respond to his letter if I wanted to request cease and desist, but I'm not sure. He said my 30 days was up a week ago. I asked if he wanted my new address and he said no, which makes me worry they would try to get judgment against me by saying they tried to serve my old address. He said it was my responsibility to notify all my creditors of my new address. Anyway, I think I know who I owed $300 to and am tempted to call them, but the NY guy said they sold the debt, so I'm not sure if it would be in my best interest to deal with the original creditor.
  
Any update? It's also funny that he claims it's your responsibility to notify creditors when it's the creditors responsibility to show that you had been property served. I think you just go to court and say that you were never served and then they have to start all over again. 

rated:
Can I get a credit card

rated:
caseyarrieta said:   Can I get a credit card
  You have to apply, and they will answer your question.

rated:
caseyarrieta said:   Can I get a credit cardNot before your 18th birthday.

rated:
caseyarrieta said:   Can I get a credit card
  Ask your parents. 

rated:
mastroadam said:   I'm in the military and going to some foreign countries (Dubai, Italy, Greece, turkey) is there any things I can buy to take advantage of trade arbitrage? Only thing I can think of is Cuban cigars. Anything else?
  Where would you buy the Cuban cigars?

rated:
ok here it goes... I bought a pizza shop in my neighborhood about a year ago. Past owner was in trouble with taxes and my wife and I fell in love with the idea of owning our own business and overlooked a lot just to make it happen. We protected ourselves and did our due diligence to some degree. Made sure he had no liens, back taxes, Etc. Our issue is that we turned a blind eye to his bookkeeping and now realize thing were largely overinflated. He was the neighborhood hero and my wife and I fell in love with the idea helping him out and resurrecting an area known to so many. We are doing ok but not great. Making just enough to pay the bills but not much else...

I have now found an opportunity to purchase an internet retailer that has some really good numbers(doing it the right way this time). Current owner is getting up in his years and wants to move on. Sales last year were $520,000, grossed $285,000 with a net income $152,000. Looking back at his history as he pulled back on his advertising budget over the years(via company website, Google Ads and Amazon)and sales have slowed. reversing the trend will be no issue and should bring the numbers back to what he had several years ago.

Here lies the rub. I over overbought on the pizza shop. I have a few buyers for my pizza shop but am coming the realization that I am not going to get what I paid for it. As far as purchasing the other business can the current owner pull out a line of credit or loan for the asking price, bring me on as a partner and then I "buy him out" with the loan/line of credit pulled out by the business?

rated:
You can structure it however he will allow. Here are some creative options.
Agree on a price
Buy the company outright with a line of credit from a bank
Buy the company outright with a line of credit from the current owner
Buy the company as a partner, with an increasing equity stake over X years as the agreed upon price is paid over time
Buy the company and make the owner an employee/contractor to ensure a good handoff

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