Internet's first get-out-of-debt community - 136,000 members

Posted: Fri Apr 29, 2005 7:38 pm Subject: ....in a bit of a fix....

i was a stupid kid going into college and got myself in way over my head. anyway, i made a lot of mistakes and almost ended up homeless in the end. have a quite a few creditors but don't really know who they are anymore. i bounced around a lot trying to keep a roof over my head and didn't really have a permanent address. i got one collection letter but i want to try to consolidate my debt into one payment. i've learned from my mistakes. i'm in the army now and doing fine, i just want to pay my debts. anyway, i don't even know all the people that i owe. i got a copy of my credit report but it doesn't have contact info. where can i find out who i owe so i can report it to the debt consolidation agency?

Posted: Fri Apr 29, 2005 8:29 pm Subject:

Need to order a credit report direct from the credit reporting agency and not one of the resellers out there.

Experian
888-397-3742
experian.com

Equifax
800-685-1111
equifax.com

TransUnion
800-916-8800
transunion.com

This way if you have any questions then the reports you receive from this direction will also have a dispute number available for you to access customer service, but you need the file number off of the credit report.

Also need to look at how old some of the debt is. It might have expired the statute of limitations meaning that the debt is time barred and you are not legally obligated to pay on the past debt.

Differs for each state, but if you do a Google search, you should find one of the sites that has the SOL for each state. Or if you can post back which state you are in I can look it up for you.

Posted: Fri Apr 29, 2005 8:50 pm Subject:

all of my debt happened in Mo. i appreciate the advice.

Posted: Fri Apr 29, 2005 9:06 pm Subject:

STATE: MISSOURI

INTEREST RATE
Legal: 9%
Judgment: 9%

STATUTE OF LIMITATIONS (IN YEARS)

Sale of Goods: 4
Open Acct.: 5
Written Contract: 10

Money & Property:

Domestic Judgment: 10 (Revived every 3 years)
Foreign Judgment: 10 (Revived every 3 years)

BAD CHECK LAWS (CIVIL PENALTY)
Three times face amount owed or $100 whichever is greater not to exceed $500 (exclusive of attorney fees)

GENERAL GARNISHMENT EXEMPTIONS
See federal law; exempt 90% of week's net pay, head of household, single person w/o depend. = 75%

COLLECTION AGENCY BOND & LICENSE

Bond: No
License: No
Fee: No

Posted: Fri Apr 29, 2005 9:09 pm Subject:

If it has been more then 5 years since last payment on credit card accounts then the SOL has passed, if the debt is more of an installment loan, then 10 years will have needed to pass to be beyond them.

Posted: Sat Apr 30, 2005 6:48 am Subject:

Also, something else to keep in mind when getting your Credit reports.

Purchasing directly formthe CRA are the best route to go.

Normally, they have 30 days to resolve your disputes or delete the Trade Line you disputed, then if it gets re-inserted they must give U five days notice before doing so. Also...if you use the Free Credit reports not available by Law...they can have up to 45 days instead of the 30 to resolve disputes.

Jerry

Posted: Sat Apr 30, 2005 11:47 am Subject:

Hi shawn.m.dannen

In this post, the SOL in MO has been mentioned. Now we need to know, how old is your debts? It will help you in determining if you are legally obligated to pay the past debt anymore.

Roxette

Posted: Sat Apr 30, 2005 2:34 pm Subject:

shawn · Posted: Sat Apr 30, 2005 3:14 pm Subject: ...it's been about four years...

it's been about four years since i had the credit cards. don't know if it would help but i had two visa capitol one cards and a visa smartcard.

Posted: Sat Apr 30, 2005 3:35 pm Subject:

Hi jtucker

Thanks for your reply. I also meant the same thing but it seems that there was a slight mistake in the placement of my word. But anyways, thanks for taking this post with full of concentration as you usually do in this forum.

Thanks buddy
Roxette

Posted: Sat Apr 30, 2005 3:46 pm Subject:

Hi Shawn

It's always nice to have plastic money because it does help during emergencies at times. Moreover, it is not possible to have cash in the wallet all the time. So, keeping credit cards is a sort of arrangement you make understanding your needs.

However, the bad part of keeping this credit card is when one spends extravagantly and misuses it. Keeping a credit card is not a big deal but all you need is to be a bit careful with your spending. Be a calculative human being in your life knowing your limitations and rest all is fine.

Keep in touch
Roxette

Posted: Sat Apr 30, 2005 5:35 pm Subject:

5 years is the open end SOL for your debt, and you say only 4 years have past since last paying on the account so they can still take legal action against you.

Posted: Sun May 01, 2005 9:22 pm Subject: RE:

Hi Shawn,

It is important for you to know that plastic money or credit card has a poisonous sting hidden behind all its utilitarian factors. You can immediately feel the sting if you are not careful while handling it. Shocked

It is thus advisable to handle the plastic money with utmost care in order to avoid the debt dungeon and the sting.

Be careful Shawn, before it is too late. Call on us for any further queries and we are here to help you all the time.

Cheers,
Jason

Posted: Mon May 02, 2005 12:11 pm Subject:

If you are careful using the credit card, then you will expect returns in bunches with attractive schemes and offers but if you are not careful, then your money will become like speck of sand which will slip and you will not be able to hold in between your palm tightly. Very Happy

Roxette

Posted: Tue May 03, 2005 11:00 am Subject: people hardly care

And Roxette most of the fall into the second category, where they hardly care. We need to organize some events at school level to teach them importance of budgeting, some case studies and activities.

Denny Said He is planning for such events in the coming days.

Tintin can help in the schools Very Happy

,They love me and snowy too Very Happy

Posted: Tue May 03, 2005 11:19 am Subject:

Hi Tintin,

I had a talk with Denny about it in the chat and he was also telling me something about it. Hope it works out fine.

Regards
Roxette

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