Below is the case of my best friend . Request you to help -
"Im a 23 year old college student. I took a summer internship a few years ago that made me travel all over the country on my own dime, which should have been a clue right there. Anyway, since then I managed to wrack up almost 25k in credit card debt. I feel so lost, I don't know what to do. Most of the debt has been charged off I believe as it's been almost a year since I paid last.
Creditor calls come in waves it seems. I'll get 5-6 a day for a few weeks and then nothing for a month. Then, what do you know, they are back. I rarely talk to them or answer.
1. I have no money to pay any of these people and I'm barely able to pay rent or buy food even. What are my options?
2. They call my parents house as often as they call me, and they are sick of it. They have helped me as much as they can, but can't give anymore. Is there any way I can get them to leave my parents alone and just place the stress on me? I haven't lived with them for almost 4 years and feel terrible about putting this kind of pressure on them.
3. I have received letters from lawyers saying that they haven't looked over the debt yet, but I should either remit payment or dispute the validity. What should I do?
My main thing is that I would love to pay them back, as I feel so bad about this happening and wish I wouldn't have taken that job in the first place. Having no money or chance of making anything worthwhile for a few years at least, I have no way of paying them back anytime soon. What can I do?
My main thing is to get them to stop calling my parents, and just deal with me, is that possible?
Also, in case it helps, I live in North Dakota where the SOL is 6 years, so I am by far not near that date.
Thank you all for any insight or relief you may be able to give me. I'm so stressed and feel like I will just shut down soon. ANY help would be much appreciate. Thanks and God bless."
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.