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I have been negociating with a lawyer representing Wells Fargo. I was never served papers but the judge signed off on the papers, it was ok according to the judge since they couldn’t find me. This all occurred during Hurricane Ike and they couldn’t find me due to property damage and honestly lack of trying (private server).

I used every bit of my emergency savings to get through that 3 months of no work & repairs. January (2009) I found out all this was going on and I had been *served.*. I asked for proof of debt, got it & that gave me a month. I owe about $ 5500 – my last offer was $ 1000 a month and my truck as collaterial (worth between 5 & 6K). They rejected that & only want a lump sum (same answer everytime). They want me to fill out an asset form, P&L, financial qustionaire & send them 2 years tax returns (I haven’t filled in 3 years, lack of funds for CPA). I just got the 3 years ago done. Then they *might* consider payments. Well they are going to find a lot of bad debt & One really good asset – my business property, paid in full. Or more than likely the lawyer did a search on the property tax web site and found that.

I have time & time again tried to get a loan since January – no dice. I have no equity in my home. I live in TX so my home can’t be taken, but I’m betting my shop can. It is my understanding that if this goes to court, they can force a Sheriff auction. I may be wrong. I haven’t hired a lawyer because I’m trying not to throw more money out of the window. The only person that considered loaning on the building needs me to pay up front – survey, inspections, & appraisal – I don’t have that & that would be just about what I owe!! At this point I doubt the WF lawyer will wait that long (up to 6 weeks).

Does anyone have any suggestions? I’m not about to fill out the financial statement without consulting a lawyer.

My thinking is to continue to attempt to work something out on my own and pay off the debt, rather than hiring a lawyer for ?1000? and still oweing the same amount…

ANY SUGGESTIONS, TIPS, etc. I’m at wits ends. And I’m sure they are fixing to take it to court. I know the Judge (small town) and she will force it to mediation? (this is what she usually does) & will be VERY upset if I don’t appear with a lawyer… And being a small town, everyone will know my business (all court records are printed in the paper).

One bit of background – the loan showed charged off on my credit report – I stupid & uneducated about that stuff – thought that meant it went away. I had a real hard time 4 years & have since managed to pay off everyone else, including 12K in medical bills. So my ignorance is coming back to bit me…

Thanks for your time, advice, etc..
I only owe the WF debt, 6K on my car and my home. I just don’t have cash at this point. IRS debt can’t be dealed away, but I usually pay more to the CPA than the IRS. I’m so close to catching up & can’t understand why they won’t.

Isn’t it to late to involve anyone but a lawyer at this point – it is logged in the court system.
As for the tax return – yikes I don’t understand it. I could do a simple return, but my returns end up being 1/2 inch or more thick. I’m fixing to return a 2005 one that was done for me recently. I’m able to do quarterly reports, but have no clue about depreciation, etc…. Is one able to find old tax software & attempt to do it?
My mailing address & home address are different. They went to the mailing address – which was mostly destroyed by Hurricane Ike, they never tried to serve at my home.

5 Thoughts on I’ve been working with a Wells Fargo Bill Collection Lawyer, they won’t accept payment plans. (TX)?
  1. Reply
    Spock (rhp)
    July 12, 2011 at 10:52 am

    credit counseling service — look for the non-profit one.

    ask WF for their name and contact number.

    ***
    your collective creditors will all be trying to grab as much as possible as fast as possible. only a counseling service [or bankruptcy] will get them to share the pain equally while not seizing your business.

    GL

  2. Reply
    stan c
    July 12, 2011 at 11:29 am

    It’s good that you want to satisfy your debts, but when they demand everything except the kitchen sink, that’s when you should contact a attorney to see exactly where you’re going with this situation. Most don’t charge for the first visit.

  3. Reply
    bdancer222
    July 12, 2011 at 11:58 am

    If they already have a judgment, they can use that judgment to attach your bank account and lien property. They are more likely to go after bank accounts. They want cash not stuff.

    They can lien your property but they can not force a sale. The lien would just have to be satisfied if you sell or refinance the property.

    I suggest you contact a NACA lawyer for advice: http://www.naca.net/.

  4. Reply
    Ted
    July 12, 2011 at 12:33 pm

    I’m sorry about your problems, but the bad news is, you need a lawyer. Not using a lawyer will not save you money. The settlement will get screwed up and done wrong and end up costing you more in the long run that the attorney would have charged. You haven’t been using a lawyer and things haven’t gotten better, have they.

    As far as being served, you have a right to be served at your address. You have a legal obligation to notify your creditors of your current address. If they go to your official address and you aren’t there, then they have complied with the law. Far from being a defense, they can actually use this against you saying that you were hiding from them to avoid paying your bills. If you don’t keep addresses current, then you give up your right to legal notice.

    I’m more concerned about your not filing taxes. Not filing taxes is a crime. Lack of money for a CPA is not an excuse because there is no law that requires that you use one. If you don’t have money for a CPA, your taxes can’t be that complicated. Turbo tax does a great job for $ 60, or you could do it by hand. You may even qualify for free online tax preparation. The value of a CPA is in planning your business for the future. A CPA can’t do anything for you after the year is over except type your numbers into his tax software which isn’t much different than Turbo Tax. Besides, filing incorrectly is still filing and avoids the penalty for not filing. You can’t be sent to jail for an error; you can be sent to jail for not filing. Contact the IRS immediately before they catch up and this blows up into a much bigger problem than the Wells Fargo bill.

  5. Reply
    wildbirdie
    July 12, 2011 at 12:37 pm

    I’m sorry that the place with your mailing address was destroyed by hurricane Ike, but that doesn’t change the fact that you have a legal obligation to notify them of your new address. They are not required to try and find your home or some other address. They are only required to send notice to the place where you agreed to receive notices. If you want them to contact you at a different location, you have to tell them. They’re not psychic. What was happening to all your other mail, like statements, bills, checks, payments, etc.

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