Hopefully helpful info
Date: Wed, 10/18/2006 - 19:55
That said, I just wanted to say that my husband and i got in deep trouble about 5 years ago.He was laid off and then I was and then well we got into substances to alleviate our pain and there the money went. We are both clean and sober (whew!) and we made deals with all the companies we owed money to. However, we went to one of those debt reduction help companies and when they calculated what we owed and what our assets were and what our monthly bills were, they told us they couldn't help us - there was nothing they could do! All the credit card companies said oh go to this debt help comany and we'll work with them and you. And they didn't believe us when we said we had and we were REJECTED !
Most of the companies settled for 40 or 30 percent of what we owed so we paid them one by one over the months.Now, 5 years later, we started getting contacted by these people who say they are lawyers and they are going to subpoena us in our county and all kinds of threats. They said, in one case, that I got this credit card in 1987 and never paid it and I owe like $60,000.00 ! I did get the card in 1987, when I had a different husband, therefore a different name and I paid that account monthly and closed it, opening a new one with my new husband. Which we paid off in agreement with the card company a few years ago ! And isn't that way too far out of the statute of limitations anyway ? Finally they got down to well just how much can you afford to pay ? When I said no to every amount they came up with (because I knew they were liars and cheats) they finally said, what about $7500.00? From $60,000.00 to $7500.00 !!!! I asked them why this $60,000.00 debt didn't appear on my credit report ! They hemmed and hawed and said just because it doesn't appear on some credit reports, it doesn't mean you don't owe it, you know there are various credit reprting agencies. Yeah. Right.I told them I could pay them zero. They said they would have someone else in their office call me back.I have caller ID and it was one of those numbers that is blocked or comes up NO DATA so you can't find what state or country they are calling from ! Well that was a year and nine months ago and I haven't gotten another call or a subpoena.
My point is you have to know your information and you can stand up to the frauds and rotten scoundrels who try to make you believe you still owe money. Anything they get from you is their PROFIT ! They BUY these old debts for pennies on the dollar, thinking they can coerce you into paying something - anything ! Meanwhile, the credit card company has written off the part you didn't pay (as per your agreement with them) on their taxes - so they got a benefit from your debt ! Search this great site and you will find lots of useful information to help you. I hope that maybe my experience will help someone. Best of luck everyone. Don't let the bastards win ! Be informed !
Hi Mary, glad that you are here. Why don't you register here as
Hi Mary, glad that you are here. Why don't you register here as a member. You will enjoy being a part of this wonderful community. :)
You are right about being an informed customer when some shady company contacts for making money from people. They will always look out for those innocent ones who are not well informed about their rights and can easily fall into the prey.
That account opened in 1987 is too old now to be reported in your credit file. It is well out of the reporting time in the fair credit reporting act. Besides, if the collector threats legal actions on this, laugh on them. That can never happen because the SOL has already expired after the contract breached (in case that happened). Be cautious on the collectors in case they try to put anything negative in your file.
