Several problems existed with this debt. First, and most importantly, it wasn't my wife's, but someone with the same name. (The address for the other party wasnt' even anywhere close to any place myself or my wife have ever lived.) Second, there was no paper trail for Assignment of Account, (which has to be completely intact, from original creditor to current debt collector) that had either the original owner (the CC company) or any notice of Assignment from same.

Third, there was no signature on any paperwork (of course) anywhere that gave any indication ANYBODY was obligated for the debt. Fourth, as a Credit Card debt, the Statute of Limitations was long past (written - signed and amortized - contracts in Iowa SoL = 10 years, open (Credit Card) contracts = 5 years. (This debt was purported to have been charged off by the CC carrier in 2002, meaning the SoL expired in 2007.)

Fifth, as if needed, an Affirmative Action defense would have involved "dirty hands", because L & S Financial faked an invoice with my wife's name on it; the invoice is dated October 2002 and within their own filing paperwork, they admit they didn't own the account until October of 2009. This is not only unethical, but is illegal.

The most AMAZING factor is my corporate attorney, (my firm; on retainer for some 25+ years now) informed McCormick of ALL these factors during pre-trial negotiations, during discovery over the past year, yet McCormick insisted it go to trial.

Now, this case came to my attention, of course, in October 2009 when L & S Financial, LC and Neiman, Stone & McCormick filed their initial paperwork. I didn't even study the filing; I simply directed it to my law firm to deal with. Imagine my surprise when my guys informed my wife early last week that she would need to be in court early THIS week.

So my wife and my lawyer showed up, McCormick showed up, and while still in chambers (with the two lawyers and the judge) the judge asked McCormick if he was really serious: there wasn't anything there. Yup, he was serious. So my wife took the stand, couple questions got asked and answered, and the judge dismissed the case in its entirety.

One can draw one's own conclusions from the details. McCormick had to drive over 3 hours each way to lose an obvious lost case. Did he hope my lawyer wouldn't show, or my wife? (It was a very substantial amount of money; gaining a summary judgement in his favor would have paid very well.) I don't know. I do know McCormick & McCormick's behavior was predatory and very much in abrogation of their respective industry's established ethics, as well as deliberately in violation of the FDCPA.

I also have to wonder how many people these folks steamroll, who might feel a tinge of guilt over an old debt, or who don't have the financial resources or intellectual wit to fight back. (Anyone out there in these types of shoes would do well to remember the Statutes of Limitations are there for a reason and a purpose.)

I also know that now that the case is settled, it is now MY turn. Notice on this page is not the only venue I will be using to gain more "attention" for these two bad actors. In fact, on Wednesday December 8 I will be speaking with the FTC about the law firm; it is a violation of the FDCPA to sue, or threaten to sue, consumers to recover a time-barred debt. It is also a violation to attempt to collect a debt (in Iowa, anyway) when your company is not registered to do so.