Posts by analogwalker45

hollowmason64 said:thanks 😁

let me guess, we're talking about Tesla Financial Services 🤣

Actually, it's Porsche... 😁

Richard King3 said:Just watch out. Debt collection agencies operate on a system where interest and secondary fees are settled first, leaving the principal for last. Often, those fees equal the principal itself. People think they've cleared their debt, only to be blindsided by new claims that are actually just the original balance finally being called in. The debtor remains liable for the principal, the interest, and every single service fee incurred during the process.

No need to worry, I have every single expense itemized and I'm fully aware of what the interest rates look like. We're dealing with a much larger sum here. What they collected initially were just the overdue lease installments plus interest—which has already been paid off. After that, following the terms of our operating lease, they moved to collect the purchase value of the car, minus what we'd already paid, minus its estimated residual value upon return. Everything would have been perfectly fine if the total sum hit zero, meaning we wouldn't owe a dime. However, they decided to also charge us for the "remaining vehicle value at the time of early contract termination." According to the agreement, unless there was total damage or the car wasn't returned, they don't actually have the right to bill the lessee for that. I know this is drifting into a different topic, but anyone who knows their way around a Tesla Financial Services contract (which I've had to learn the hard way lately 😁) will see that something definitely smells fishy here... 🙂

I’m about 99% certain, but I definitely need to run this by my attorney first just to be absolutely sure... honestly, I was really hoping to dodge any extra legal fees here... 🙄. If they won't settle this on their own, I guess we're looking at a lawsuit. My only worry is how long that process drags out while they continue to bleed my account dry... what a headache. Thanks again for everything! 🙂

Chloe Murphy3 said:The promissory note is probably for a bigger amount, maybe $16667. The creditor sent it over to the Federal Reserve with a note saying "they owe this much," and then more costs popped up later that they're also on the hook for, so they just sent another notice saying "now they owe this much too."

Basically, the creditor can go after whatever is due. If part of the debt became due after they already sent the note to the Federal Reserve for the initial amount—but the note covers everything since it's all from the same deal—there's no reason they can't demand that extra bit too.

I'm making this sound complicated, but I hope you get what I'm saying. If someone is paying this as a guarantor, the creditor will eventually give them a receipt showing exactly how much was paid so they can sue the main debtor to get their money back.

The easiest way to check is through the Federal Reserve. Just ask for the details on the specific enforcement order being used; it should all match up under the same OV-... number.

I see what you mean, and thank you so much! It sounds like the amount is indeed higher... they clearly want to squeeze every cent out of that 😁. But how do I actually challenge this? The charges hitting the account fly right in the face of the signed contract—we've gone through it thoroughly, and what they're demanding simply has no basis in reality. So, now that the seizure has already been carried out, how do we stop this whole thing since it's completely unfounded? 🙂 Is this the right time to bring in a lawyer and maybe even reach out to the media? 😁

Well, now I’m starting to wonder about a few new things... is it actually possible for them to launch two separate collection proceedings based on just one single promissory note?

Chloe Murphy3 said:Let me guess, his guarantor signed off on a promissory note? That's probably the only way they could freeze his accounts without even giving him a heads-up.

Uhhh... looks like that might be the case, but he "doesn't recall" doing it! 🙂 Does that actually change anything legally? Can they legally seize funds without serving an official court order or judgment first? I'm wondering what kind of steps can be taken to challenge this.

Hi everyone,
I’ve found myself in a bit of a complicated situation lately, so I was hoping someone here might have some insight or advice to share.

Basically, a while back, a freeze was placed on my guarantor's bank account due to an unpaid lease. We never actually received any official notice about the collection process, but since we were well aware the debt existed, we didn't jump to act until we could settle it in full. Well, the debt has been paid now, but in the process, the leasing company started tacking on these extra fees that aren't even in our original contract. I've already sent two formal complaints to them, but they seem to be playing games by dragging their feet on responding.

While they're busy stalling, a brand new levy has hit my guarantor's account for this same disputed amount—which, according to our contract, shouldn't even exist. And once again, there was zero prior notice! From what I understand regarding US legal procedures, a notary or a similar official should have sent over a formal notice of execution, but I'm feeling a bit lost on how to proceed. Is there a way to legally contest this and halt the current seizure, especially since I was never given the chance to file a formal objection in the first place?
I would truly appreciate any answers or guidance anyone can offer. 🙂