should i pay or should i go? old debt never addressed.
Date: Fri, 01/08/2010 - 12:00
Submitted by vincent joseph pisani
on
Fri, 01/08/2010 - 12:00
Total Replies: 2
1. BOA - 10,000 charge off june 2005 - i stopped making payments in 2003 and had no contact with the collectors -
2. first north american national - 16,500 in collections since 2004 - made no payments or contact with them either -
and since 2004 i was unable to obtain any credit obviously - i did however incur 5 more negative items totaling 2,500 for doctors and hospitals only -
how should i approach my situation - if i have a possibility to make lump sum payments on both accounts - would they settle on a charged off accounts - the larger debt is still in collections but due to continue on record until oct 2010 -
can i be sued for the full amount - should i get an attorney -
thank you
vince
If you want to settle the accounts you need to contact the colle
If you want to settle the accounts you need to contact the collectors and make payment arrangements. You may need to negotiate a comfortable settlement plan with them. You may check the following link if planning to do it yourself.
http://www.debtconsolidationcare.com/diy/
Depending on the collection agency and state SOL, you can be sued for the debt. But, I don't think there is any need to contact an attorney yet.
i would first check and see what your statute of limitations are
i would first check and see what your statute of limitations are first in your state. once that has expired they cannot take you to court but they will still try to collect. so that all depends on you and how much money you have and or have saved it can only help your credit to pay them off with a settlement or some sort even if the sol is expired. but check into that first then go from there