Complaint Review: Triad Financing American Investment Bank

Tamara:

How long have you lived in NJ? If you've been there since you turned in the car, then you are in the clear.

Calvary can not LEGALLY sue you and take money from you because the statute of limitations for all debts in your state happens to be 6 years from the date of delinquency. At this point they are breaking the law all over the place: threats, reaging the account, harassing phone calls, etc.

You need to do the following:

First off, if you have been served with a summons to appear in court, find yourself an attorney right away and fight this thing - Calvary will end up owing you money in the end.

If you are not being sued right now, dispute the account with the credit reporting agencies via certified mail. Tell the agencies that the debt is obsolete.

Then write a letter to Calvary telling them that you dispute the validity of their claim and that their harassing telephone calls need to stop. Then request that they send documentation proving the validity of the debt to your home address. Mail this certified mail, return receipt.

They need to respond back with information obtained from Triad showing exactly how the amount owed is calculated. If you don't agree with what they send, mail them another letter of dispute.

In the meantime, every time they phone you, try to collect from you, or make an update to your credit report it breaks the law. They are liable to pay you beaucoup bucks in damages should you choose to file a lawsuit.

Read up on the Fair Debt Collection Practices Act, the Fair Credit Reporting Act and the New Jersey Debt Collection laws. They tell you EXACTLY what a collector can and, more importantly, CAN NOT get away with. Know your rights, keep a papertrail, and don't be afraid to make them pay for violations if need be.

There are numerous debt collection internet forums out there in cyberspace that are VERY pro-consumer. Lots of people are out there willing to help others in like situations.

First, check the statute of limitations for this type of loan. It is typically 4 to 5 years. It is likely that the statute of limitations has passed, which means you are no longer liable for the loan. ALso, they are violating the FDCPA by calling you multiple times a day. Send them a "Cease Communications" letter. Send this letter by certified mail, return receipt requested. You can go to Bud Hibbs.com and find a free downloadable book that contains a form letter for a "Cease Communications" letter that is very effective.

If they continue to call you or mail you after you get the return receipt back, and if you find anything on your credit report from the collections' agency, document it, log any calls made to you by those you sent the letter to, and file a complaint with the FTC and the Attorney General's office. The people who continue to harass you that got the "cease comm" letter will be fined $1000 for each violation. That means you get $1000 from them for each violation. This includes any negative items they place on your credit after they received your letter. Don't let them get away with it! You can fight back, and if they are stupid enough, they will end up owing YOU money! Hope this helps.

Please read the other posts about Triad. Everything must be in writing. I would sue them in a heartbeat if they don't return your money to you. There are laws made to protect the consumer for a reason. Triad is no exeption to any of them. They seem to feel they can do anything they d**n well please. If anyone of you wish to be added to the class action victim list, please respond to this email. It's never too late to fight for your rights. Reaging a debt is also against the law. So join in if you are interested. Good Luck to you all. Oh, by the way, you can go to your courts and ask to have the Judgement vacated due to false information given to the court. I would call and ask how you could go about doing that. Good Day to All.

Tamara,

Read my case I'm 3or 4 down from you, Hilda in Marysville, WA. I thought they had dropped the whole thing too. But in March 10, 2006 They debited my account for 18,000. They didn't get it. Who's got 18,000. in a bank account? The thing is they took my husband's direct deposit of 870.00. I contacted attorney generals office and they said the only way they can garnish your wages is if they win the case.

We never showed up in court we just sent our response to the lawyer who was sueing us. He probably didn't show it to the judge because they wouldn't have ruled against us. If only we would have showed up in court to defend ourselves.

Now,we have to be faced with a garnishment. The statue of limitation is 6 year for a contract in the state of Washington. This is the sixth year. They said they would send our money back last week. I researched it in a legal site and we can sue them if they don't return our money within ten days. The alternative is bankrupcty of course once your sued. They want us to commit to a 150.00 monthly payment. My husband said no way.

Take care.
Hilda

The collection agency Cavalry Portfolio Service is the ripoff in this case there dishonest fraudulent billing me after 7 years.