My Story & Journey
Date: Fri, 02/06/2009 - 11:08
I’ve been reading the boards. I really like this site!! I am here hoping to meet some new people, gain insight on how to manage $ better and if at all possible help others.
Here’s How I Got My Debt & My Status Now:
I'm a 23 y/o putting myself through college. My sophomore year I took Chase up on their credit cards offers & used them to live off. Expenses piled up because my mother was living in a homeless shelter & father wouldn’t to let me live with him. They told me to say on campus, but I don't get enough financial aid to afford the campus housing. So, I just started working at Burger King to get income enough to pay for my SMALL apt & the minimum balances on the cards. When I got late on the payments, Chase raised the min amount due from $20 to $100/month on the 3 cards I had with them; which I couldn't afford working at burger king.
I now have a job that pays more, but Chase sent the 3 cards to MRS Associates Collection Agency. I paid off one card. My classmate told I could settle by offering them an amount close to the total. So I worked massive amounts of overtime when school was out during summers & settled by paying ¾ of the balance. I never got a letter stating my account was clear with them though. I still have 2 cards to pay MRS. In September I set up payments of $40/month until the summer, but then Hurricane Ike hit (I’m in Texas) & I stopped making payments.
So, now… I am trying to figure out what to do until the May when school is out again.
Here’s My Questions:
- Is it too late to send one of those “Debt Validation Letters†since I already made verbal agreements to pay?
I don’t want them to have my bank account info so I want to mail payments. How do I get them to give me their address?
If they don’t give me the address how can I give documented payments.
Any advice or directions to resources for my situation would be greatly appreciated.
Thanks In Advance![/color][/size]
hey, i just noticed this thread - if you are still around did yo
hey, i just noticed this thread - if you are still around did you get the help you needed? perhaps this could be posted in another foroum?
I hate when posts go unnoticed. This one was posted at midday on
I hate when posts go unnoticed. This one was posted at midday on a Friday. Sometimes members cherry pick posts based on their areas of knowledge or ease to respond. I have had my posts totally ignored but I just took it personal and sulked a lot.
i know, i felt bad when i saw how old it was and how it was unno
i know, i felt bad when i saw how old it was and how it was unnoticed.. i had posts ignored, but did not take it personally.
Frog, I don't think it is your posts, I think people don't want
Frog, I don't think it is your posts, I think people don't want warts. LOL
Thank you for noticing my post :) I posted a shorter question
Thank you for noticing my post :)
I posted a shorter question about debt validation in another forum and someone gave me a bit of info. But the problem sort of took care of itself.
My debt was sent to a different creditor and they have notified me via mail, so I can send my payments to them now. The only thing I still question is, will they accept my partial payments in money orders if I do not set up the payment plan via phone?
If anyone has an answer to that one I'd be very grateful.
AP
stuff
the positive part of this is you're still young. You're also doing a very responsible thing by working through school and honoring your debts. Some things you should know. That 2nd company that bought your debt from MRS, paid approximately 5-10 cents on the dollar. So everything you give them is essentially profit to them. In the future, if you are going to engage them in conversation, do not give them any personal information. Do not tell them where you work, how much you make, what you think you can afford, or anything at all. If they are rude or they pressure you, hang up the phone. How much is the total debt? Because you're 23 your credit has most likely been dramatically effected, because you have such a short credit history. Once your debt is sold twice, your credit is already impacted and wont get worse. So dont make it tougher on yourself right now if you cant afford it by setting up a payment plan. Don't be discouraged. Depending on the amount of the debt, I have several pieces of advice. Here is how to deal with a debt collectors or debt terrorists. You do have rights.
You can stop a debt collector from contacting you by writing a letter to the collector telling them to stop. Once the collector receives your letter, they may not contact you again except to say there will be no further contact or to notify you that the debt collector or the creditor intends to take some specific action. Please note, however, that sending such a letter to a collector does not make the debt go away if you actually owe it. You could still be sued by the debt collector or your original creditor. This happens only in cases of extreme debt where assets can be seized. If you do not have any money, as it is clear you're struggling, they're not going to spend their time and money to collect a few thousand in court. So depending on the debt, if you can save a little money each month and put it into a savings account, you can come back and offer them a very low settlement to settle all at once. You will find this will save you a great deal. email me anytime at [email]toplender@gmail.com[/email] for more tips. good luck.