Thirteen years ago NCA Financial, Inc. Purchased the contract on a credit card debt I defaulted on. At the time, the debt was for approximately $4500. I had stayed under the radar and barely avoided them finding me for all these years. The judgment was to expire in August but they started up as Sacor Financial just in time to renew the judgment for another 10 years! Now the balance is over $18,000 plus costs.
For 9 of those years I never had full time employment or stable income and after reading some of these nightmares, there was no way I was going to try to settle without an attorney (which I could not afford either). I never bought anything new, I don't own anything of value, but they still dogged me. Once they found a bank account but all they got was $5.00. I can't imagine how much they spent trying to "get" me. I secured full time work and income just 4 years ago and was overjoyed when they supposedly went out of business. I let my guard down just once during that time and voila they finally caught up to me and filed for a wage garnishment. My salary is just barely enough to support me and my partner and the wage garnishment would have been for $600/month which would have destroyed me.
I had no choice but to file a Chapter 7 bankruptcy in order to protect my income. I secured the services of a wonderful attorney in Redding and within 2 working days we had the papers done and filed with the courts in Sacramento.
All I can say is I got em! Since I had no credit to protect (due to the judgment) and no assets to speak of, this is not going to have negative effect for me what-so-ever. It cost me $ but it saved me $19,000 and my income. Bottom line the BK saved what I had been struggling for for the last 17 years. Sacor did not win the war, I DID! Instead of crying at night in fear and hopelessness, I am now laughing at all the money that they spent getting to this point, only to receive nothing!!! I am now free of them forever!!! I should have done this a long time ago - it was very painless.
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