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Report: #454997

Complaint Review: Investment Retrievers - El Dorado Hills California

  • Submitted:
  • Updated:
  • Reported By: Midland Texas
  • Investment Retrievers 4511 Golden Foothill Parkway Suite #3 El Dorado Hills, California U.S.A.

Investment Retrievers Civil Case Because of Divorce Default? El Dorado Hills California

*Consumer Comment: IF YOU REALLY WANT HELP AND CORRECT ANSWERS

*Consumer Comment: Some answers

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In 2003, my husband & I purchased a new vehicle using his credit with me as a co-applicant for the purpose of using my income. In 2005, we divorced. In our divorce hearing, I was given the vehicle. It stayed in both of our names, however & I made the payments on it. In 2006, I began to have financial difficulties & the vehicle was repossessed. We both received collection letters from time to time from the finance company that had provided the loan for the vehicle but since both of us were broke at time, we ignored them. Not a very responsible thing to do, I know.

Suddenly, a month ago, Investment Retrievers sent my ex a letter threatening a civil law suit if he does not pay the amount owed ($12,000.00). He called them & told them I was the one responsible for the balance since it was awarded to me in divorce court. He "kindly" passed on my address & phone number to them as well.

Long story short, Investment Retrievers says they plan to go after my ex for the balance due since they say the finance company's contract supersedes any amendment in a local court & my ex was the primary account holder. They say they will name me as well in a civil suit "as a legality", but they already are aware that I have zero assets & no money (I'm a single welfare mom, trying to get back on my feet after being left with a ton of other debt after my divorce.). They also know that my ex now makes a lot of money & has several assets.

Investment Retrievers acts as if a civil suit & impending judgment is imminent & that my ex & I should be served with a summons for court any day now. My ex is adamant that he will prove his lack of obligation to this debt in civil court if we go.

Considering my financial position right now, I am not concerned about having a civil judgment against me. My credit score is 450 & I know it will be years before bad debt falls off even after it's paid. I know in Texas they can't garnish my wages for a civil judgment so I am safe there.

Really, I just want to know: Are these people serious? Or are they just blowing smoke? I have been congenial & cooperative with them up to a point, but if they are just making empty threats, I will tell them to get lost & not worry about it. I know they CAN get a civil judgment against me, but WILL they? I am tempted to make arrangements with them to make a small payment each month & let my ex fend for himself against them, but what do I get in the end? I mean, I am not going to get my car back even if I pay them off in one lump sum. And since my credit already stinks, why should I bother? I just need to know if these people are serious with their threats.

Texasmom
Midland, Texas
U.S.A.

This report was posted on Ripoff Report on 05/24/2009 09:04 PM and is a permanent record located here: https://www.ripoffreport.com/reports/investment-retrievers/el-dorado-hills-california-95762/investment-retrievers-civil-case-because-of-divorce-default-el-dorado-hills-california-454997. The posting time indicated is Arizona local time. Arizona does not observe daylight savings so the post time may be Mountain or Pacific depending on the time of year. Ripoff Report has an exclusive license to this report. It may not be copied without the written permission of Ripoff Report. READ: Foreign websites steal our content

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#2 Consumer Comment

IF YOU REALLY WANT HELP AND CORRECT ANSWERS

AUTHOR: Laurie - (U.S.A.)

POSTED: Wednesday, May 27, 2009
YOU NEED TO GET OFF THE COMPLAINT BOARDS. Very rarely will you find someone who can give you GOOD LEGAL ADVICE.


IF YOU REALLY TRULY WANT HELP - there are several websites that offer it FREE OF CHARGE! - but you have not bothered to look at all. Otherwise you would not be here on a complaint board.


IF YOU REALLY TRULY WANT HELP -
www.ftc.gov

another one is
www.budhibbs.com

The information you are looking for is out there on the internet - IF YOU ARE WILLING TO LOOK FOR IT!
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#1 Consumer Comment

Some answers

AUTHOR: Tim - (U.S.A.)

POSTED: Wednesday, May 27, 2009
Q: "Are these people serious? Or are they just blowing smoke?"

Good question. Let's first analyze the issue of whose debt this is. I FULLY understand your point about who assumed the car and the debt under the divorce decree. And I can certainly understand why you would think that the lender's sole recourse would be to come after you. After all, the court said this is your debt.

HOWEVER, even as it may sound like b.s., the lender is correct in asserting that the divorce decree does not modify their rights under the contract. They made a contract with your ex. There are only two judicial circumstances under which their right to go after your ex for the balance can be modified: 1) in a lawsuit in which the lender is a party (I'm assuming they were not a party to your divorce); and 2) in a bankruptcy proceeding.

In any case, they would have to be given some opportunity to defend themselves before their rights under the contract could be modified. I doubt that they were given this opportunity in the divorce proceeding.

To put it as simply as I can, the divorce decree established rights between you and your ex, and maybe some other family members. It did not affect any other contractual relationships. So, inasfar as the divorce decree gave you the debt for the car, it did not do so in regards to the creditor. Rather, it gave your ex a right to indemnification, against you, should he have to pay for the car.

In other words, they can still sue your husband for whatever is owed. And with you having no money, they probably will. Assuming they receive a judgment against your ex and he pays it, your ex can then sue YOU under the terms of the divroce decree.

I hope that made sense. I know it's very complicated. If I can clarify anything for you, please ask.

Q: "I know they CAN get a civil judgment against me, but WILL they?"

A: Probably. It's an economic decision on their part: is the cost of obtaining a judgment against you more than the amount that they can hope to get out of you? If not, they will likely seek a judgment.

And I'm not sure where you got the idea that they can't garnish your wages for a civil judgment, but I HIGHLY doubt that this is correct. I am not a Texas lawyer, I don't know the particulars of Texas law, but I would seriously question the source of this information, because I'm pretty sure it's wrong.

Q: "I am tempted to make arrangements with them to make a small payment each month & let my ex fend for himself against them, but what do I get in the end? I mean, I am not going to get my car back even if I pay them off in one lump sum. And since my credit already stinks, why should I bother?"

Another good question. Making whatever payments you can could keep them at bay, keep you out of court, keep a judgment off your credit report, and maybe provide you with some moral satisfaction.

Economically, making payments may not be your best option, especially as your credit already stinks. Personally, I would let it ride, see if you end up with a judgment and, if you do, consider filing bankruptcy. Don't construe that as legal advice, however.

It sounds like you and your ex still have somewhat of a positive relationship. I would keep that in mind when making any decisions. You'll only have to deal with this creditor for a max of seven years or so. You'll probably be dealing with your ex for quite some time yet.

Best of luck!
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