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$12,000 Credit Card Debt in FL

Date: Tue, 01/31/2006 - 19:04

Submitted by anonymous
on Tue, 01/31/2006 - 19:04

Posts: 202330 Credits: [Donate]

Total Replies: 4


I have over $12,000 of credit card debt that I accumulated between 2003-2005 on four different credit cards while living in FL.

I was laid off in 2003 and have been freelancing as a graphic designer for the past two years, barely making enough to pay for basics like rent, food and clothing. I moved to Venezuela for a job opportunity and no longer live in FL.

I haven't made a credit card payment since January 2005. I have no money & no belongings aside from a used car ($300) that I purchased to get around in Venezuela. I don't plan on going back to the US until 2008. Last I heard, I was getting letters from collectors agencies and have no idea how to deal with them.

Can I get sued even if I am no longer a resident of FL?

Should I try to negotiate my debt with collectors?

If I never pay those debts, when will the debt be erased from my credit report?

Any recommendations that don't include bankruptcy?

Thanks in advance for your ideas.


Hi NinadelSol, I will suggest you with my views as I am reading your post.


Considering the fact that you won't be returning to US before 2008, your debt will go out of the legal collection period and you can escape any kind of lawsuits after this period. It is possible that you might have a judgment filed against you(if the creditors intend to) when you return back, but since the debt will be out of the statutes, you won't have to pay them back. It depends upon the collection agencies if they will send your account back to the creditors before the expiry of the SOL period. Then only, creditors will decide looking at the total amount and see if there is any need to file a judgment against you. Keep in mind, judgment require legal papers to be served to you in your mailing address and you have to show your appearance at the court. But since you are out of the US, things might not turn that far.

You can always try to pay off the debt by negotiating with your collectors for a reduced amount. Negative remark of collection will stay in your CR but it will be shown as a 'paid' one. It will bring some positive change to your credit.

If you never pay those debts, it will be removed from your CR after a period of seven years beginning from the date of first delinquency on your account. This is stated in the FCRA.

Consolidate them..It's much easier. But since you are living outside US, I don't think these services will be available unless you return back to the States.


lrhall41

Submitted by john on Wed, 02/01/2006 - 12:23

( Posts: 1231 | Credits: )


Thanks for your reply John. You made my options more clear.

I have decided to consolidate my debts, even if it means moving back to the US this year. I hate having this debt hanging over my head and I'm only 25 years old.

I know I can't afford more than $300-$400 a month and I wonder if the debt consolidators will deal with me because of the amount of debt I have. :(

Do you know of any debt consolidators that are reputable? So many of them are fraudulent and I'm scared to give out my info to just anyone.


lrhall41

Submitted by on Wed, 02/01/2006 - 14:58

( Posts: | Credits: )


NinadelSol, I am using the program offered by the consolidation company directed by this website. The companies listed here are the reputed ones and have good feedbacks in the BBB and the local AG's office.

I like many others here will also suggest you the same. The first thing that you can do is to take a free counseling from the expert. He will discuss all the options that you have for repaying the debt. He will put all the points in the contract in writing. If you are not convinced with the counseling, you can put a stop there. But, I will recommend you making the first move by registering at the sign up page here.


lrhall41

Submitted by john on Wed, 02/01/2006 - 15:24

( Posts: 1231 | Credits: )