Portfolio Recovery
Bank Account Garnished Over Judgment on Time-Barred Loan Never Validated

My bank account has been garnished! Portfolio Recovery obtained a judgement against my wife in August.

Here is the sequence of events:
My wife acquires a loan from Citibank for $6,500 and has paid it down to $4,600. The loan was last paid in February. Portfolio acquired the loan and proceeded to collect in April of past the statute of limitations. When Portfolio finally called, my wife asked for validation of the loan to ensure the correct amount and begin the process of satisfying the debt. She has done this with several other debts, some through Portfolio!

They refused to validate the loan. She was served in July with papers to appear in court.

She arrives with all her documents and the lawyer for Portfolio is not prepared. He even agreed the SOL had expired on the debt, but, explained, since he was unprepared, he would inform her of the next court date.
A judgement was given to Portfolio on August 18th of 2005! Not a word from Portfolio! Until a garnishment landed on my bank account on March 29th!
Several unsuccessful attempts to discover what transpired have led me to this!

If the debt was past the SOL in the first place, no validation of debt was provided when asked, and the lawyer even presumed the SOL past, why am I in this situation?

My wife has proven time and time again to be very conscientious and has succeeded in working with Portfolio on other debts. Why is this one different?
Why, also, is it seemingly impossible to get a straight answer from any barrister other than, "Well, you could file bankruptcy! We'll be glad to help!"
I apologize for the length, but, feel quite abused by this company. Given my wife has struggled hard to improve our financial situation, I feel Portfolio Recovery has seriously imperiled our financial state. Money required for day to day life has been taken from me, as well as, money designated for other obligations at a most inopportune time.

Thank you for your space to rant at the very least, and, for any advice on correcting this heinous situation. I am still waiting to hear from other lawyers before I settle on a course of action!
John

John
Virginia Beach, Virginia
U.S.A.

Company: Portfolio Recovery
Country: USA
State: Virginia
City: Norfolk
Phone: 8007721413
Site: portfoliorecovery.com

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