Ryan Matson asked 1 day ago
I'm in the ring with JPMorgan on an Account Stated claim in Arizona Justice Court, and their attorney is denying that Chase securitized the credit card debt. Without getting into too much more backstory, I included a portion of their SEC prospectus which states they securitize credit card receivables, and their out-pf-state business record exception-to-hearsay based affidavit in the summary motion didn't even touch it, admitting or denying securitization, yet in the reply to the response to their motion for summary judgment, the attorney states there was no sale, and none of the documents exist (chain of title, bills of sale, assignments). how can an attorney try to testify?
also, they filed for summary judgment before the court even ruled on my motion for default judgment, but i forgot to put "counterclaim" in the caption of my answer and affirmative defenses (!) so default against them was of course denied, and i have yet to make any effort toward discovery since i had to respond to the summary motion. how can i prove securitization if the evidence i already included is looked at as insufficient? if its not in before a ruling, how can i bring anything in an appeal?
Awaiting an order from the judge at this point on their motion for summary judgment... hoping to go to trial at this point. Any other ideas to try to get discovery? Can i act before the ruling on the summary motion? thanks!
Brian Parker Staff answered 1 day ago
I can't give you legal advice that you are requesting. We have consultation packages on the site. In Michigan, if I prevail at the summary hearing and go to trial, the pre-trial will grant me discovery, assuming I am in the early stages of the case. Or, and this is the first time I have ever said this, use ParkerGPT. The AI starts today at Noon (EST) and is free to members for two weeks. Look for the email as a member today.
Brian Parker Staff answered 1 day ago
This is what Parker GPT said:
Understanding Securitization's Impact on Standing
The key insight from Brian's strategies is that securitization typically destroys the original creditor's ability to sue because the debt has been sold and transferred into asset-backed securities. When JPMorgan securitizes debts, they're converting those debts into investment products sold to third parties.
Strategic Approach Using Counter-Affidavit
Brian emphasizes that a Counter-Affidavit is essential for challenging securitization issues. As he states: "By filing a counter affidavit, you challenge the authenticity of the plaintiff's evidence, forcing them to prove that they have the right to sue you for the debt in question."
Here's Brian's proven approach:
- Challenge Standing Through Counter-Affidavit
Attack the burden of proof - Force the plaintiff to prove they actually own your debt
Point out weaknesses in the collector's case regarding ownership
Use their own documents against them - Look for inconsistencies in their proof of ownership
- Key Questions to Raise in Your Defense
In your counter-affidavit and discovery, challenge:
Does the plaintiff actually own the debt, or was it securitized?
Can they prove an unbroken chain of title from JPMorgan to them?
If JPMorgan securitized the debt, how can anyone else claim ownership?
What specific pool or trust was your debt placed into?
- Discovery Strategy
Brian notes that "The right discovery questions settle cases" and they "all come from your counter affidavit." Request:
All securitization documents related to your account
Pooling and servicing agreements from JPMorgan
Proof of assignment from each entity in the chain
Documentation showing the debt wasn't sold into a securities pool
Practical Implementation
Draft your Counter-Affidavit challenging their standing based on potential securitization
Make it Exhibit #1 to your Answer
Use their weakness against them - If they can't prove current ownership, you have a strong defense
Set up discovery to force them to produce securitization documentation
Expected Outcome
As Brian emphasizes: "Using their own documents against them will likely settle the collection case for a big discount or elimination on the debt."
The reality is that most debt collectors cannot prove they own securitized debts, which gives you significant leverage for settlement or dismissal.
Would you like me to help you draft a Counter-Affidavit that specifically challenges JPMorgan securitization and standing issues for your case?
Please login or Register to submit your answer
