HUGE debt, defaulted 3 yrs ago, judgement still possible?..whats next?
Date: Mon, 06/13/2011 - 09:14
I'm assuming by now its been resold several times to collection agencies.
I've been unemployed for last 2 years, lost it all...no assets, very low bank acc balance, bank account has never been frozen so i think a default judgement hasn't been placed.
I have no address or utilities in my name, and do not reside in the state where debts were established..but need to establish a residence address in my name later this year.
questions-
-likelihood of default judgement placed, bank freeze, against me at this point?- after renting an apt in nmy name again.
-ramifications for me if i "pull" or view my credit report at this point?
(will this trigger any new collections efforts on my debt or to serve me?)
-could such a large debt result in more serious criminal charges? ex- suspicion of fraud
i want to do the right thing (settlement) but seems like bankruptcy is the only option now...
thanks for your time!
Don't worry
I wouldn't worry too much. if it's only delinquent accounts from a creditor the chances of them actually looking for you (skip tracer) is good. In regards to fraud that is almost out of the question unless you actually committed a fraud. Also remember in most cases if there is no service there is no process.
Solicitation removed per Terms of Service. ~OG
in re of "pulling" your credit report-- that will not trigger an
in re of "pulling" your credit report-- that will not trigger anything ! it is YOUR credit report and you have every right to get your free report once per year at no cost to you. you also have the right to review your credit report more than once per year, but it will cost you after the first free one per year..
if you dont have any assets, and have not been working, they would be wasting their money filing a court case against you, cause there is nothing they could go after.
if you are working now, depending on what state you live in, they may be able to file court case and if they get a judgement, they may be able to garnish wages, but that can be appealed if you do not have enough money left after living expenses and necessities to afford anything.
if they should file a case, be sure to respond to it- dont just ignore it..
credit report
thanks for the feedback.
yeah, my question about viewing my credit report may have been silly. I'm over thinking it- not sure what they see IF they view my report again... and if some sort of record or 'mark' would appear showing that i accessed my report (the date), which could be interpreted by a collector as me being involved in one way or another with still attempting to manage my debt and therefore, worth pursuing me again for repayment......like i said, i'm overthinking it! but cant help it, want to play it smart....anyway, i know my credit is destroyed, doesnt matter what my score is at this point.
Some debt settlement firms can put you on an income-sensitive pr
Some debt settlement firms can put you on an income-sensitive program, where a part of your disposable, monthly income will be placed in the FDIC insured bank account. The programs are designed to last anywhere from 12-36 months. I would strongly recommend to think twice before considering bankruptcy. After bankruptcy your credit rating will be impacted for 10 years. Settlement can truly be the way out.