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Marvin Wolf

Marvin Wolf’s Answers

32 total

  • Hello, This is with regard to Collection account on my credit report.

    There is a Collection account by a cell phone service TMobile through a debt collection agency. I have never been sent any official letter from either the debt collection agency or TMobile. Since I am a paid member of Experian I got an alert today...

    Marvin’s Answer

    It may may sense to wait until you receive a letter, since if the bill is bogus you would need to prove that. As to what you are being billed for, there should be no harm in contacting the original creditor to find out. Did you get a final bill showing a zero balance?

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  • What tax papper do i fill out,i just got credit card remove

    can't aford topay taxes on it.

    Marvin’s Answer

    In addition to the advice above, while only providing general information and not tax advice, tax discharged without filing a bankruptcy is considered taxable income, while debt forgiven in bankruptcy is usually not considered income because "insolvency" is pretty clear to establish since you filed bankruptcy. But other evidence of insolvency besides bankruptcy can work, and your reported value for forgiven debt does not necessarily have to match the creditor's "write-off" number, which can be inflated. In any event, all income including the 1099 has to be reported on your taxes even if you can't pay it. IRS does do payment plans, and older taxes - older than 3 years - can sometimes be discharged in a later bankruptcy.

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  • Can I sue a Credit Reporting Agency if they shared my information without a permissible purpose?

    My credit file was blocked for promotional purposes which removes my name and credit file from the list credit bureaus sell to lenders. However, even after the block was placed, the credit reporting agency continues to sell my information to outsi...

    Marvin’s Answer

    How do you know the source of the mailing was from a CRA? Sometimes when you deal with a merchant you have an existing relation with you also inadvertently agree to let their "marketing partners" contact you. This happens a lot especially with internet websites where the language is hidden away in mountains of boilerplate language. Very few people actually read or scroll through that long agreement. Permission may sometimes even be hidden in a paper invoice. The credit card you used often has that language in their agreements. Your email account may have the same language. Same for frequent flier mile accounts. If you own a Lenovo computer they spy on you with an embedded program called Silverfish that even third parties can exploit to direct ads to you or gain private account numbers. This can present significant issues of proof in a trial. It is not easy to do a FCRA case and damages are statutorily limited. This sounds like it would not automatically be a "Ker-ching show me the money" kind of case. Unfortunately, these days, privacy is an illusion, various merchants can analyze your buying patterns. and demographics. this information is bundled by various parties and sold willy-nilly to various other parties. The world has changed. I suspect it would take a class action and not an individual case to get anything changed. if they did do it to you, they did it to others too.

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  • Should we file for bankruptcy for mostly mortgage and car debt and little credit card debt.

    I am co-signer on a home in AL I can no longer afford to keep. It's currently rented until Feb. 2015. I relocated to NJ 6 months ago and live in my mother's house which I also co-signed. I have 2 cars and only need 1 (going through separation)....

    Marvin’s Answer

    You have a complicated fact pattern that requires an extensive analysis, which I will not do here.
    However, a few facts to consider that have not been mentioned-
    There is nothing special about Amex that they can't be included in a bankruptcy. They MUST be included if you wish a discharge. They just are tough on debt settlement companies outside of bankruptcy because most of their operations are in-house - they collect for themselves so debtors can't file a FDCPA claim against them as they function as an original creditor - an exception under the FDCPA.
    You have been in NJ more than 6 months, so you should be able to file the case in NJ, but due to an anti-forum shopping provision in the 2005 Act, you might not be able to use NJ exemptions, to protect assets depending on how AL state exemption law treats residents who no longer live there. This requires a separate exemption analysis.
    Due to the approach taken by some, but not all, Chapter 7 trustees in NJ, a Chapter 7 may not be the way to go if you wish to retain the NJ house, even if it has no equity.
    The co-debtors add another layer of complexity, especially in Chapter 7, where they would not be protected after your case is over. The ex filing (in whatever state he is in), could end up dumping more debt on you, and may affect any divorce settlement that may be in place
    Wanting to dump debt you don't want and keep assets you do want is a normal desire, but not always feasible in a bankruptcy proceeding.

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  • How I remove charge-off account from my credit report or what are my options to make a deal with creditor?

    It's a Charge-off auto loan account with balance of $5770.00 . I returned my vehicle under voluntary repossession and balance is what the remaining amount after auction of vehicle. the first delinquency date is Mar,2009. I need to know my opt...

    Marvin’s Answer

    Often, once a loan is charged off it is sold to another lender, who tries to collect. The new collector has no power to remove the negative rating on your account even if paid.
    To some extent, negative credit can be balanced by more recent good credit. However, one collector or other usually will sue before the statute of limitations expires. They are just waiting so the amount due can go up to an interesting amount.
    All disputed items go off the report for 30 days, but if valid, go right back on the report.
    if the creditor or debt buyer does not sue you, they will issue a 1099 form - forgiven debt is considered to be income by the IRS.

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  • I have a ucc-1 lien on my assets at site location. need to know how to file a claim against fair debt collection agency

    I have had an investigator come to the job site and request to enter the job site. I declined and refused them entry. that's when I was threatened that they would come after me personally

    Marvin’s Answer

    You seem to have provided conflicting information. The Fair Debt Collection Practices Act only applies to consumer debts, not business debts, and only against third party collectors - not original creditors. It sounds like you are describing business assets for which the Act would not apply. Businessmen are considered to be sophisticated enough to not need the extra statutory protection given to unsophisticated consumers, and are usually able to hire lawyers to defend against claims. The state version of the Uniform Commercial Code has its own set of rules governing issues involving secured debts.
    This is basic legal information and not legal advice. I am not your lawyer. Get one.

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  • What kind of attorney do I need?.

    I need an attorney to negotiate with my mortgage company over the amount I owe them. I tried calling them several times only got the runaround.

    Marvin’s Answer

    Either a foreclosure attorney, bankruptcy attorney, or consumer attorney could handle this type of case. You will need to file a Qualified Written Request to get a breakdown of how your mortgage payments were applied to analyze why there is a discrepancy. Sometimes escrow amounts can suddenly increase, there may be hidden late payments, forced place insurance, interest rate reset, misapplied payments may have gone into a suspense account, or perhaps it's bad math. Also, you could be wrong and they might be right. Without the full record of payments it's usually hard to tell.

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  • I paid a lawyer $1450.00 to file for bankruptcy and she did not if I leave her and go to another lawyer will I have to sue her

    My lawyer never file for my bankruptcy and its been 5 months how anx I paid her $1450.00 canI get my money back?

    Marvin’s Answer

    It depends on the lawyer. The answers above are generally correct but I have recently heard rumors of one female attorney in your area (without naming names) who has been accused of taking fees and not filing cases so I have to wonder if that's what you are dealing with. Sometimes it is the lawyer's fault. But sometimes a case needs to be delayed for valid reasons. The solution is communication, but I understand communicating with that person is also difficult. Even if you are right and the law is on your side, it may as an economic matter be difficult to get the funds returned. You can change lawyers if you wish (and pay another fee) and try to make a claim in the bankruptcy court if there was no valid reason for the delay and it harmed you. It's called a disgorgement motion. But first find out the reason for delay - in some cases we do it on purpose to give the client a strategic advantage - for example, to sometimes avoid a preferential payment turnover action by a trustee - but we usually explain this to the client in detail and in advance.

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  • Can a creditor monitor my banking activity?

    Is this possible?

    Marvin’s Answer

    The questioner did not say he was in bankruptcy yet. If they have a civil court judgment they can issue an information subpoena to require you to give financial information so they can send the constable after your money. In a larger litigated case, they can issue a subpoena of banking records, but you can also seek a protective order. Creditors often do not know where you bank at all, unless you paid them with a check and they look at it (which is rare). Usually they send :post-judgment "freeze" letters to all banks near your location - this gives the impression when your bank contacts you that they knew your banking activity, but it was really hit and miss. In bankruptcy, a creditor can show up at the trustee 341(a) meeting to ask you questions about bank records. The trustee can request them and so may a creditor - but again, for good reasons, a debtor may first ask the court to deny the request. The judge would then inquire why they want the information. However, if there is no reason to hide it, then the reports should be available to creditors. Unless the amount due is really, really large, it is rare for a creditor to appear at the meeting or make such a request. A trustee, however, will want to know what you spent money on and can look for large ticket items like the large screen tv, the Hawaii month long vacation, large withdrawals from the banking account to relatives. It's their job. They can ask for a credit report showing a balance history which lets them track usage patterns.

    This is not legal advice, just general legal information - I am not your attorney until retained in writing. Debt relief agent and attorney at law. Licensed in NJ and NY.

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  • Deadline to file counterclaim in New Jersey special civil

    Hi, I am being sued by debt buyer. Default judgment was vacated on Monday. After court i went to the clerk and requested a copy of the writs issued and upon receipt, found out debt buyer has wrong social security number and debt isn't even mine. ...

    Marvin’s Answer

    Depending on what they did before suing you, you may also have a claim under the Fair Debt Collection Practices Act. If the judgment is showing on your credit report, you should dispute it and reserve your rights under the Fair Credit Reporting Act. A debt buyer is a third party collector under the FDCPA.

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