Hi! My question is about & 6 yrs ago someone stole my debit card. Used it and my bank card was $5600 over drawn. I called my bank and went to police but person couldn’t be found. The bank however blamed me and this is on my record (credit report). I clearly can’t pay this money back. I want to know if Collection Company will come after me in a law suit next year when its & yrs. I don’t know who many years the Statute of Limitation works in Illinois. Also, what could I do to resolve this major issue? Do I contact them or just wait? If I contact them I’m thinking SOL starts again… or if I wait will this be removed from my record because of SOL.
By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.