 No credit, How do I start and what is a good credit card for a beginner\r? |
| I am 20 years old and after trying to get a card for a store I find I have 0 credit history. I have never owned a credit card and want to pick a good one to start bulding credit. Does anyone know a ... |
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| A company that will go unnamed wants to settle with me at 11% of my original debt. This is over 5 years old.... |
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| I recieved a letter in the mail followed by a check for 2,850.00. They said I won a lottery for $56,000. They said I have to deposit the check, and send them back the check and they will send me ... |
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 How can my ex get loans and credit when he doesnt live here anymore? |
We jointly own my house, we separated nearly two yrs ago. Only morg and council tax had his name on everything else was in my name. Yet he has been able to get cards and loans.
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 I am trying to improve my credit after a really bad year. I can't even get a secured credit card.? |
| I had a really bad year last year and don't know what to do. I've never had a credit card, but I have a defaulted student loan and line of credit on my report. I am paying both of these ... |
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| Something came up today that I'm going crazy about. Well, two things. First of all, my whole pay check for the next two weeks is gone. Second, I need to get a loan badly. As in... Either if I ... |
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 I loaned money to my brother and he isn't paying it back. I live in PA, how do I go about getting it back? |
| I leant him money to pay his mortage because his house was going up for sheriff sale. I took a cash advance on my credit card but he has not giving my anything to me for the payments. He agreed to ... |
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 Ok u have bad credit adn well need to pay ooffbills but cant afford to pay them how can u pay? |
| biulls are at least 300 too 1000 doesit hurt to jstu payu oen atat itime when u needd exta money how canu fix ... |
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| i am consistantly being charged by my bank. i don't qaulify for a overdraft facility. i am currrently working two part time jobs, i also recieve ema of £30 a week. my ema payments always arrive ... |
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 I don't have great credit, but would really like to get a credit card to start building some revolving credit. |
| Any suggestions? I would like to get the best possible card to start building some credit. But they have to accept almost anyone because of my bad credit.... |
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 Should I file for Bankruptcy? |
| I have about $9,000 in cc debts. They were back in 2000. They are still coming after me. I am currently wokring but helping my husband pay the home bills *all under his name* since i have horrible ... |
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 Joint Bank Account Gone Fraudulent, Need Help! =)? |
Hello,
I opened my Chase Checking Account when I was 15 years old (a minor at the time) with my dad as a join account. Well I just graduated from college and found out my dad sent the ... |
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 Why did I not receive my credit as promised when I returned your tea? |
| I know you received my return product because I received the green postal card and you said my money would be refunded. So what gives? You've had more than enough time to take care of this.... |
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 I want debt consolid. loan from credit union for 10k with credit score of 645. Will I be approved? |
| I want to get a debt conso loan from the credit union I just joined. I have a fair credit score of 645-650 depending on which credit report you pull. However, I also have a delinquent cell phone ... |
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 My credit card bill didn't come? |
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 Recommended first Credit Card for a college student? |
i'm a college student looking for a credit card. i need a card that allows online banking and paying for bills, which i believe almost all do that now.
i was interested in this one...... |
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STEVE G | Hi i defaulted on a store card 8 years ago and it has been sold and they are chasing me to pay ,do i have to? |
i was paying this through a debt management company along with other debts,all the other creditors stopped the intrest and have all now been paid,but this one company didnt stop the intrest so i stopped paying about 5 years ago,had no statements and only one phone call in that time,but have just received a letter saying that they have sold my debt to another firm who are now chasing me to pay,this debt is not on any of the 3 major credit scoring companies ,will i still have to pay even though this defaulted 8 years ago.thanks steve |
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shair00
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Steve,
Most likely a lawyer bought this debt for pennies on the dollar, they will take you to court and sue you for the debt, plus large amounts of interest and court fees. You can negotiate with them if you want too, but most likely you will be paying at least a portion of this debt back.
If you need additional info, email me. |
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Brendan E
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You say "about 5 years ago".
It is very important you establish the exact date of the last contact you had from these people. (The creditor and/or any previous debt collection agency)
If it is more than 5 years they are statute barred from pursuing it any more and you can write to the new collectors and tell them to go shove it where the sun doesn't shine - citing the 5 year period to support your non co-operation.
If it is less than 5 years then they can continue to chase - and a new 5 year period has just commenced.
However in my experience if you simply ignore these latest demands they probably wont bother to go further than threatening letters; and if there is/was already a judgement they cannot get another one for the same debt.
Hope that helps |
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confucious says
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ignore the letters it is statute barred you know they only trying on thats why you asked the question just for confirmation |
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Pregnant with baby #1
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Yes, the company probably was sold to pay off some of their existing debt. In order to continue paying off their debt, they need money wherever they can get it - which includes credit card accounts. |
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porcelina_68
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What you need to do is find out what the statute of limitations on debt collection are in your state. Chances are, it's past the SOL, and they can legally do nothing to you in order to collect the debt.
Important note: If you pay them ANYTHING, you will re-start the SOL, and then they can sue you. They are hoping that you will not know about this kind of thing, and send them some money so that they can REALLY come after you. |
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Cody C
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Yes you do! It's not the creditors responsibility to waste there time and money to get you to pay. Now that they sold it off to another company, they have chosen to talk action unlike the previous company. If you do not pay for the debt for owed, they will eventually charge it off as BAD DEBT! Regardless of what action they chose to take, the debt is valid and you will have to pay for it one way or another. |
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alatoruk
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if you are UK based then they can force you to pay it through the courts up to 6 years after the last communication with you. problem is the last communication with you was when you stopped paying so that was only 5 years ago.
so they might, and if you have spoken to them about it then the 6 years starts again.
sorry. |
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old know all
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You are liable and the debt is enforceable. Courts won't enforce a debt that has been in abeyance for 6 years or more, but the clock started when you stopped paying or when they last chased you up.
The store card company have given up hope of you paying. The collection agency make their money by buying up old debts on the cheap and sending out letters in the hope that a few people will pay up.
Write to the collection agency. Say that you cleared all your debts through an arrangement with creditors organised by a debt management agency X years ago, and that you have no record of owing them any money. You might get a string of computer generated letters saying your Court appearance is real soon now and the bailiffs are going to take away your furniture, but they won't actually do anything if they think you might put in a defence. |
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jason c
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Hi if you go onto debt wizard .com which is supported by talk radio and the person who runs the debt wizard site is Mike he will advice you on what to do I think there is a portion on statue limitation on his site. Good Luck. |
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bored
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Yes, because it is a legitiamite debt. See if they will settle. If they will then get a letter from them saying what the setlement amount is. The once you have received the letter send them a certified check with return receipt requested. Do not under any circumstances give them access to any of youe accounts. If you need further info check out daveramsey.com. |
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brimir7
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Good and bad news....credit stays on your report for 7 years after which time it is removed (if not, you can ask and they'll remove it.) The exception to this is bankruptcy which is 10 years. Bad news is that when it is sold to a collection agency (which is what happened to you) that is considered new. That means another 7 years, unless it is sold to another collection agency (which happens a lot) and then it starts over again. Legally, you are responsible for the debt so the legal answer is you should pay it. Reporting to your credit report is voluntary. This means that just because it isn't showing now it may show in the future. Even worse, it can show up as many times as it is sold, each of them (which are really all the same debt) hurting your score. Here is some potential good news.
Collection agencies bought this for pennies on the dollar. They won't tell you this but they'll settle for less (sometimes far less) then the original amount. Just make sure, if you decide to do this ,that you have a letter from this saying the account has been settled and it will be removed from your credit report, now and forever. They will typically readily agree to these terms. That way if it ever does show up again you can use this letter to have it removed. |
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