my spouse rec'd mail from collection agency about a debt. since we both did not know anything about it, he asked me to call the collection agency. found out that they're collecting a deficiency on a car that was repossesed in 1999. collectors also sent us proof of the debt. according to the credit report, the debt was written off in 2000. we don't know anything about statue of limitations. does this mean that we still have to pay this old debt? he had this debt long before we met. we recently just got married and i'm afraid of how it's going to affect our credit.

I am facing probably the most popular challenge for people in debt. Settlement just doesn't sound appealing to me. Yes the balance reduction seems rather attractive but at the expense of 5/6 months bad credit, I don't know. Consolidation sounds better but, I will still miss one month's payment on the two cc's that I am consolidating b/c the company that contacted me charge one month's min payment plus $100 in fees. If I could afford all that, plus the minimum payment going to the creditors, I'd be able to pay off my balance on my own! Any advice would really be appreciated :) Thank you

Just started debt settlement, I've missed exactly ONE payment for each card (together totaling $16500). So far, so good. But Discover has gotten nasty. Already, my account was sent to a law firm /debt collection place, who called me at my work to tell me if i didn't appease them by noon, they would move forward to litigate. They said Discover would not work with my debt program, nor would they. Good lord, I JUST started the program! The debt settlement place said they're just blowing smoke, they deal with Discover all the time, and with that firm all the time.

Well I'm working for ICS. And people there is no such word as "fraud" in our company. If u sign up to take out a loan, listen to what they tell u, then all your questions will be answered. Remember that when we call u we just want to help u from paying any extra fees. If your acc gets current, then on your next paydate u will be able to pay in full, if you return our calls. How it works is that for every payday that u dont pay your acc in ful a processing fee of $89 will be added on your account, so unless u dont call us, we will ad a processing fee.

Thanks for all the help Lorri, I hope this post makes it through. Hello everyone. I am hoping that someone out there can help me. I am in payday loan debt and see no way out. I have heard stories such as mine and it all scares me to death. I dont know where to begin to get help. I have tried to find help, i cant find the T & C everyone talks about and all others I contact do not deal with payday loans. I know it is no ones fault but mine for getting in this spot but now my whole family is suffering because of it.

Today I spoke to someone from Interiem Cash Limited and we set up a payment plan. When I told him that I could only send money orders he told me to send it to this address: 19 West 34th Street Suite 1018 NY10001 I am really uneasy about this address. He said it was in New York. I asked him for a zip code and all he could give me was NY10001. Does anyone else see anything wrong with this or is it just me?

i recently got a 200 dollar loan from them. i was given the impression that i could pay this off with 5 deductions of 79 dollars each out of my bank account. i have made all 5 payments and still they continue to take money out of my account. today i called to find out what was going on and i was told that i still owe them 279 dollars because the 79 dollars they have been taking out were to extend the loan, not to pay it off.

I'm having some login issues and nothing is working and I can't figure out how to get in touch with the board administrator - help please!

Well I have been contacted by two of the payday loan companies that I borrowed money from. Actually, I have two loans with one company (its two different companies). I first defaulted on them on Friday. The first guy called from Interim Unlimited. We came to an agreement somewhat on how I would pay back the loan. He said he would be willing to do $50 a paycheck until September. I can live with that. The only problem is that he wants me to fax a copy of the receipt on the very same day that I buy the money order. I won't have access to a fax after 5:30 on that day.

The following is an article I copied from the Credit/Debt Management section of about.com. The spelling errors are in the original article. Quote:

CBS Boston ran this story about a collection agency - NCO Financial Services, Inc. - which was allegedly attempting to pressure consumers into paying debts they didn't owe. The story implies that some collection agenices knowingly go after the wrong person to see if they'll pay just to get rid of the debt collector. To put it colloquiallly, that's a crock.