 How can I get rid of $30,000 in debt easiest? |
| I owe 30k and absolutely do not want to file bankruptcy. I can afford to pay $900 per month but the balance just will not go down. They will not lower my interest rate either. I am skrued?... |
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 Medical bill - What happens if i just don't pay? |
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 How do I get my name off a co-signed car loan? |
| I co-signed on a car loan right before I separated from my husband and later divorced. He has a Ford Explorer of which he hasn't made the payment on for the last 4 1/2 months. No one will allow ... |
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 Will my bad credit affect my hubby's good credit when he tries to refinance his mortage? |
| I have bad credit, My hubby has great credit. He is looking to refinance a home he purchased before he got married to me and wants us to apply for a refinance loan together, I'm scared that this ... |
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 Debt - What should I do??? |
| I am a 21 year old college student with about 9000 in credit card debt. I lost my job for a while and fell way behind on all my bills - now I have collection agencies calling me all the time and ... |
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 My daughter-in-law took out credit cards in our names but refuses to confess, what do I do? |
| I have reported to the credit card companies but it's been seven months and nothing has happened yet. I told them it was her and we have reported it to the police but I still don't know ... |
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 Why the heck?! (Credit Report question)? |
| I have had a capital one card for years now, it only has a $500 limit w/ a high intrest rate and I have NEVER been late on it. After significantly improving my credit (years of work) I applied for ... |
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 Who should I go to refinance my house if my credit score is 535.? |
| my credit is 535 my first loan is 148000 and second for 42000 and I need to pay some credit cards for 12000 my house is worth 253000 and I make about 3000 a month. Do you know of any companies or ... |
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 How to apply for a credit card? |
ok... so i have a few questions about credit card....
1. what is the difference between a visa and a master card?
2. can i apply a credit/master card if i have no job?
... |
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 What happens if I stop paying my credit card entirely? |
No BS here
We're severly in debt after my wife quit work to have our children be a stay at home mom 5 years ago. I work 2 jobs but its not enought. She has few job skils at any rate
T... |
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 If you pay of a credit card, and then get a refund, what happens? |
| So I have a credit card with a fairly high APR with a $200 balance on it. If I pay it off completely, and then end up getting that money refunded to me, what happens to my account? does it make my ... |
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 Is it illegal to charge a consumer more more if he or she would prefer to use a visa/mastercard over cash? |
I work for a company who has independent contractors that are always trying to get our customers to pay with cash vs. credit. I am wondering if this practice is illegal.
Our company ... |
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 Could my wife be affected if i file bankruptcy? |
| We don't share any credit card and checking accounts, and the propety doesn't has my name on it.... |
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 Do I need a credit card? |
| I just graduated from a graduate program. I have never had an actual credit card, just a bank account with a credit/debit card. My BF told me I needed to get a credit card to establish my credit to ... |
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 Obama now wants to go after "predatory credit card" companies? |
| because they are the ones responsible for putting Americans into debt. In my opinion, Americans' lack of personal responsibility is what is getting them into debt. Keeping up with the Jones... |
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 Credit check for a job? |
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 Does the average American really have 8 credit cards? ? |
| There is a debt consolidation company that has a commercial which claims that the average American has 8 credit cards in their wallet. I find this totally ridiculous, and hard to believe. Do you ... |
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Ray O | My wife is being harassed by a collection agency that we have not heard from in 7 years. Help!? |
My wife had a credit card that had a $2000 limit on it in 1994. She made payments on it for awhile, but stopped in 1997 when money was tight. She did not receive anything from the credit card company until 2000. She made arrangements to pay $100 a month and made them for 4 months until she realized that her principle was going up. She stopped paying again and argued that she could not continue to pay more than $100 a month, and that she was not going to keep paying to owe more. We bought a house last year and the credit card was on her credit report, with several late payments. But it also showed that it was current and was still owned by the credit card company. We have not heard from the credit card company since 2000, but that all changed last week. We started getting phone calls and letters saying that the account was sold to a collection agency and legal action would be taken if we did not respond in 30 days. Can they do this after 10 years or is it just a threat? |
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SPIFIMAN1
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Here is what happened, when you Wife agreed to make payments it restarted the statute of limitations all over again so it's 7-years not 10.
I have listed a link so you can look up your State. Credit cards are considered open accounts. If the S.O.L. has passed and I'm sure it has, then it's simply a threat.
Even if they do sue you all you have to do is show the court that the S.O.L. has expired and the case will be dismissed.
Good luck.
http://www.bcsalliance.com/index.html |
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Charlie Bucket
 |
1. You borrowed money that you did not pay back
2. The company you borrowed money from wants their money back, so they sold your debt to a collection agency.
I'm sorry, but I don't see a question here? |
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stopccdebt
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They can pursue collection, but the statute of limitations is likely expired. That would mean they could no longer sue for a judgment. She should exercise her rights under the Fair Debt Collection Practices Act and request that they cease and desist all telephone contact, as these calls are inconvenient and harassing. |
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ctf082
 |
each state has a different statute of limitations. if the amount of time for ur state has passed, they can't legally collect unless u begin acknowledging the validity of the debt by verbal response or voluntary payment.
just don't talk to them. "hola! que?!? no speakaaaa englaaaa!" |
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Slim Whitman
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If you owe the money you should pay the debt.
check our Dave Ramsey.
http://www.daveramsey.com
Pay it and close the account. |
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Paulette
 |
It depends upon the collection laws in your state. |
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jml167
|
You need to check the laws in your state. There are limitations on how long a company has to come after you for a credit card debt. Unfortunately, since the collection agency now has the debt, they are going to harass you and threaten you until you get this sorted out. I would look up the laws for your state ASAP and see if you can get out of this legally. If not, make arrangements with the collection agency to get this bill paid off. Try to negotiate with them since they bought this debt for pennies on the dollar. They will try to add fees, so be firm. The best way to get them to agree to go lower on the amount is to offer them a lump sum instead of payments. Whatever you get them to agree to, get it in writing and do NOT give them access to your bank account. Ask them to change the status of the bill on your credit report. Good luck to you! |
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Jairee
 |
Credit card companies,after turning the account over to a collection agency, will almost always accept a settlement. Have your wife find out what she owed on the card with out the interest and offer them that amount and they should get off your back. Make sure to have them send you a settlement acceptance letter stating that they are accepting the settlement as payment in full and once they've received it they will contact the credit bureau and have it removed. |
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antanddoc
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Its a lot of hassle but why don't you change your phone number, and when you get a letter cross out your address and write not known at this address please return to sender on the envelope.But if you owe money prehaps you should pay it if you can't afford the payments that they want make them an offer such as $15 a month. If somebody owed you money wouldn't you want it back! |
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stephenweinstein
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No, but it will not be 10 years until 2010. Right now, it is only 7 years, because the time period is measured from the events that you say happened in 2000. |
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Tom H
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What is the amount you owe on the account? If you have cash resources available to you call the collection agency and make them an offer. It costs that collection agency $$$$ to collect debts like this. To save time and the hassle they may settle for less than the balance on the account. |
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Elliot970
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Heard from a "Legal" source that If you ignore them for six years they can't touch you. This means letters and phone calls. Also if you do not pay them for six years they again cant touch you. But if you pay them any money during this period then decide to not pay again the "Time" zeros and goes back. So if you ignore them for five years then pay them, then you have another six years of hassle.
Another option is to wait until they pass it onto a debt collection agency, again ignore them. After a while they sell it onto another agency. Who buy it at a reduced price. For example, you owe 20k, the collectors sell it to another agency for 15K. They sell it onto somone else for 12K. And so on. So after a while it gets reduced. When you can pay it off start paying the collectors. This works in the UK so try it.
Good luck. |
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fradykat
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Unfortunatly it is NOT a threat. Even though she had made a payment plan and then stopped because she couldn't afford to continue paying your wife still owes the credit card company money. It is now going to be a chargeoff on her credit and she will be hit with maturity interest each month till the card balance is paid in full. Even though it has been a long time since you spoke to them your wife was still responsible for the balance she charged up on her credit card and the interest and late fees and over balance charges that she is continuing to get each month. This is why her principle keeps going up each month. I am surprised that they didn't do this sooner. Your wife's best bet is to call them and set up a payment plan that you can afford. When you are able to pay it off that is the best thing to do. She can also try and settle the loan by paying less than what is due but when you settle you pay the big balance at once not over months. Hope this helps. |
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