Steven S. Loeb, of Ruben & Loeb, Encino, California, apparently bought my charged-off 19-year-old debt for pennies with the hopes of parlaying it into $18,000to my best recollection about four or five times the remaining balance of the original debt.
I received a letter from Loeb, threatening to seek a judgment against me if I didn't dispute the debt mentioned in his letter. I responded with a registered letter disputing the debt and pointing out it was many years since California's Statute of Limitations had expired. But he evidently found a compliant judge, because less than two months later I received a letter from my bank telling me that every last cent had been levied from my accounts checking AND savings by the despicable Loeb and his henchmen. I don't know what to expect next garnisheeing of wages at a minimum, probably.
I don't know if Loeb's ghoulish tactics are legitimate, but they certainly are reprehensible. I've lived in an old RV for years, and not because I'm a camping enthusiast. I lack the money to address medical and dental issues. I'm a beat-up old man, and it's too late for me to start over, so this will probably not end well. The cheeriest outcome I can envision is filing for bankruptcy and enduring my last days without credit.
And you holier-than-thous can spare me the pontification; yes, people should pay their debts. I should have paid mine. I have no excuse but that I was overwhelmed. Keep in mind that, but for the grace of God, the greedy Loeb may be feeding on your corpse next.
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