Executive Summary We design and deliver the systems, software and services that drive next-generation communications networks. Backed by Bell Labs research and development, we use our strengths in mobility, optical, access, data and voice networking technologies, as well as services, to create new revenue-generating opportunities for our customers, while enabling them to quickly deploy and better manage their networks. Our customer base includes communications service providers, governments and enterprises worldwide. We have three segments organized around the products and services we sell. The reportable segments are Integrated Network Solutions (“INS”), Mobility Solutions (“Mobility”) and Lucent Worldwide Services (“Services”). INS provides a broad range of software and wireline equipment related to voice networking (primarily consisting of switching products, which we sometimes refer to as convergence solutions, and voice messaging products), data and network management (primarily consisting of access and related data networking equipment and operating support software) and optical networking. Mobility provides software and wireless equipment to support radio access and core networks. Services provides deployment, maintenance, professional and managed services in support of both our product offerings as well as multi-vendor networks. Beginning in fiscal 2001, the global telecommunications market deteriorated, resulting from a decrease in the competitive local exchange carrier market and a significant reduction in capital spending by established service providers.This trend intensified during fiscal 2002 and continued into fiscal 2003. Reasons for the market deterioration included general economic slowdown, network overcapacity, customer bankruptcies, network build-out delays and limited availability of capital. We believe that the market for telecommunications equipment has stabilized and is starting to grow in certain areas. The growing demands of enterprises and consumers for additional services tailored to their needs is creating the need for a new convergence of networks, technologies and applications. Required 1. Using the Consolidated Balance Sheets for Lucent Technologies for September 30, 2004 and 2003, prepare a common-size balance sheet. 2. Evaluate the asset, debt, and equity structure of Lucent Technologies, as well as trends and changes found on the common-size balance sheet. 3. What concerns would investors and creditors have based on only this information? 4. What additional financial and nonfinancial information would investors and creditors need to make investing and lending decisions for Lucent Technologies? LUCENT TECHNOLOGIES INC. AND SUBSIDIARIES CONSOLIDATED BALANCE SHEETS (in Millions, Except per Share Amounts) September 30, September 30, 2004 2003 Assets Cash and cash equivalents $ 3,379 $ 3,821 Marketable securities 858 686 Receivables 1,359 1,511 Inventories 822 632 Other current assets 1,813 1,213 Total current assets 8,231 7,863 Marketable securities 636 — Property, plant, and equipment, net 1,376 1,593 Prepaid pension costs 5,358 4,659 Goodwill and other acquired intangibles, net 434 188 Other assets 928 1,608 Total assets $ 16,963 $ 15,911 Liabilities Accounts payable $ 872 $ 1,072 Payroll and benefit-related liabilities 1,232 1,080 Debt maturing within one year 1 389 Other current liabilities 2,361 2,393 Total current liabilities 4,466 4,934 Postretirement and postemployment benefit liabilities 4,881 4,669 Pension liabilities 1,874 2,494 Long-term debt 4,837 4,439 Liability to subsidiary trust issuing preferred securities 1,152 1,152 Other liabilities 1,132 1,594 Total liabilities 18,342 19,282 Commitments and contingencies 8.00% redeemable convertible preferred stock — 868 Shareowners’ Deficit Preferred stock—par value $1.00 per share; authorized shares: 250; issued and outstanding: none — — Common stock—par value $.01 per share;Authorized shares: 10,000; 4,396 issued and 4,395 outstanding shares as of September 30, 2004,and 4,170 issued and 4,169 outstanding shares as of September 30, 2003 44 42 Additional paid-in capital 23,005 22,252 Accumulated deficit (20,793) (22,795) Accumulated other comprehensive loss (3,635) (3,738) Total shareowners’ deficit (1,379) (4,239) Total liabilities, redeemable convertible preferred stock and shareowners’ deficit $ 16,963 $ 15911

I’ve sent the file to the address you gave me.

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I have an old Credit card debt (originally 500.00) from my college days and last month a woman from Eastern Asset Management LLC called me demanding that I pay 3000.00 to clear my balance. She was SO RUDE..told me to "borrow it from family, take out a loan, clear out my bank account, etc."! I was very upset and didn’t pay anything. Well today…I received a message from a "law office" that I’m now a defendant in a suit filed against me because of this debt. BUT When I called..he told me he’d let me pay 1500.00 by the end of the week! I’m really stressed out with this! I’m not even sure if this agency is legitimate!! I researched them on the internet and found a site where hundreds of ppl are trying to sue them for using illegal collection tactics…stating the company is a fraud! I don’t know what my options are at this point. He says I have to call him today with an answer..pay or go to court! Is it to late to send a validation letter? Any advise would help!! Please…
Thank you both for your answers! They’re very helpful.

I’m curious though…which state would the SOL apply? I concurred this debt in Oklahoma (where I went to school)…but I’ve been living in California for the last two years. Also, I’ve NEVER received any written notice regarding this debt (none that I know of)…just a bunch of phone calls. They don’t even have my current address so I know I haven’t received anything lately. Wha"t if they sent a "notice to a past address…does that mean I’ve missed out on the 30 days to reply? AND…he told me that I have to call him with an answer asap. Should I even call him to let him know that I’m sending a validation letter? What if he proceeds with the lawsuit before I get the letter sent to him? I’m really nervous about all of this! These collectors are so intimidating…it’s hard to know how to handle this. Especially because I don’t know if they’re even a legitimate agency.

After reading your question and the following good answers, there are a few things that caught my eye that had not been addressed by the other answerers.

Starting off with the "message" you received. Since you didn’t state how the message was given, on paper, on tape, verbally from another person…. If you received it on paper or tape – save that message in a very safe place.

If it was relayed verbally to you by another person, ask that person if they would be kind enough to state in writing what info they were given and that they were given the info from the collection agency? the lawyer? Then have it notorized.
While they can discuss it with your spouse, they cannot speak to another person about it and they cannot make false claims no matter who they speak to.
(having that kind of proof of their violations could come in extremely handy in either getting them to go away or in suing/countersuing them)

If you are past the collecting SOL, their threat of suit is a violation.
If they relayed the message through someone other than your spouse it is a violation.
If they claimed they "have" filed suit When they actually had not "at the time" you received that message, another violation.

Another thing that you should do is to check to see if a suit was actually filed. Check every county you lived in since the time you had that card. You can check the online court system or call the county court clerk and ask if anything is filed in your name.

IF you find that they had indeed filed suit, you "need" to file an answer within the time allowed.

Since you had moved, IF they had filed against you it may be possible that they either knew your current address but sewer served you or they did not know your current address and served you according to the service laws of either state.

Since you defaulted on the debt in Ok. and then moved to Ca., they have their choice of suing you in whichever state they choose. Though if they had served you in Ok you can request the court move it to a Ca court.

The collecting SOL defense is often based on the TILA for open accounts. Okla is the "only" state that has exempted itself from the TILA.
The collecting SOL in Ok for open accounts is 3 years and 5 years for written.
The collecting SOL in Ca for both open and written is 4 years.

Since you have lived in Ca. for more than 12 months, you can probably use that states SOL.
Ca. also has a borrowing statute where you can try to use the 3 year SOL from Ok

Ca also has it’s own version of the FTC’s FDCPA which not only the collector must follow, but the collection attorney must adhere to it as well.

One great example of the Ca. FDCPA:
81. In Kimber v.Federal Financial Corp.(M.D.Ala.1987)668 F.Supp.1480, the court held that it is "unfair " within the meaning of the federal statute to file a time-barred collection suit against a consumer,and that it is a deceptive act to even threaten to file such a suit.

Never overlook the laws of your states laws When dealing with collectors.

Now, on to the letter that was posted in here. The letter itself is a pretty standard DV, but it should be tweeked a tad.

For example:
Omit the word installment from the letter, in fact, omit that full paragraph. All you need to include in the letter is the account number that the collector has placed on the account. You do not need to "self validate" the account by including the original creditor information – that is their job to give "you" that info.
As far as the word "installment", there is a possiblility that it "may or may not" be reporting as an installment account. Even so, you do not want to confirm that the account is an installment account over a revolving account.

You should add the following at the start of the letter:
This letter is being sent to you in response to your (letter? phone call? dated xx/xx/xxx)
This is not a refusal to pay, but a notice that your claim is disputed.

Then at the end of your letter, you should include the following (to get them to quit calling you and to send everything in writing):
I would also like to request, in writing, that no telephone contact be made by your offices to my home or to my place of employment as it is inconvenient to me. All future communications with me MUST be done in writing and sent to the address noted in this letter by USPS.

If there is a lawyer who is claiming to have the file, add the law firms name as a cc at the bottom of the letter.

Do not sign the letter, only print your initials or type your name. (signatures have a nasty habit of jumping from one paper to another)
Send one copy to the collector and send a copy to the (supposed) lawyer. Everything you send to them should be sent by certified mail return receipt.

You might click on my profile and click on the links I’ve provided to the FTC FDCPA, FCRA, etc.
You might also click on the last link I have listed to a free credit discussion board and do some reading in the Newbie Forum, then in the Credit Forum and State Laws Forum.

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