[ddarnold]

I was recently served over some old credit card debt (about 10K). I am looking for advice on how to best handle this... we are back on our feet again but it kills me to pay for all the excessive penalties and fees. I've also heard that even if I strike a deal with the company, it can come back and get me on my taxes. I need advice on how to most efficiently take care of this.

[email protected]

[CHAYOTE23]

Donot pay any of the debt until you have a written letter stating the agreement of the debt you may also demand the Creditor to clear your credit. Some Creditors will make you pay an old debt and place a charge off on your Credit Report or the Creditor may place settlement on your Credit Report and you donot want nither of the statements on your Credit Report because there is no advantage of paying the debt unless there is an agreement. I would only offer the Creditor 30% of the balance and demand that the Creditor report the account to the Credit Bureaus as PAID IN FULL / never late OR THERE is no deal.
To keep your Credit Clear of Charge offs etc, There is no need to pay a charge off unless you demand what you desire

[fredg]

Hi,
The only advice I can offer is to get a lawyer, one who has experience with debt, and being sued with debt.
One thing you cannot afford is to have a bad credit rating.
Ask a lawyer what he/she will charge you to have this cleared up, and how to go about it. It would be worth the cost.
I do wish you good luck.

[mr.yet]

i was recently served over some old credit card debt (about 10K). i am looking for advice on how to best handle this....we are back on our feet again but it kills me to pay for all the excessive penalties and fees. i've also heard that even if i strike a deal with the company, it can come back and get me on my taxes. i need advice on how to most efficiently take care of this.

[email protected]

How old is this debt, is it beyond the statue of limitations? Credit Card bedt in most states is 3 years.

mr.yet

[mr.yet]

Credit Card companies actually have 20 years to sue you, and they can extend that period if they wish to.

Your best bet would be to contact a debt settlement company. They can handle your creditor phone calls as well as settle your debt for 50% of the debt amount.


www.superiordebtrelief.com

There is a Statute of Limation on Debt, Most states are 3 years. I just had a court case were the statute of limation was pass, 4 year old debt they claimed. Court rule in favor of the Defendant, my wife. 20 Years is incorrect.

[sideoutshu]

Credit Card companies actually have 20 years to sue you, and they can extend that period if they wish to.

Your best bet would be to contact a debt settlement company. They can handle your creditor phone calls as well as settle your debt for 50% of the debt amount.


www.superiordebtrelief.com

Wow... that is just plain wrong!

[sideoutshu]

I was talking about the statute of limitations statement. And by the way... the word is "arbitrator".

[Fr_Chuck]

Even if you have to pay taxes it is a lot cheaper than the full settlement amount.

Would you rather pay 3000 to pay a bill or 1000 in taxes?

Often though, after they have already filed suit, they are harder to settle with. If you have a good job, they know they can garnish your wages from 1/2 to 1/3 of your pay.

Of course how old is the debt also, there are limits on old debts as to being inforcable in court

You should seek the advice of an local attorney

[2jew]

There is a statute of limitations on open accounts most states 4 years.The clock starts ticking at the point of deliquency.that is usually when last payment was due Check your credit report for account activity you will see last payment made. Also if there are any inquiries to the person.Equifax gives one report a year for free. The best to you.

[angeleyes9839]

I have been harassed by National Enterprise Systems for a credit card and I had several coversations with different people their I had a verbal agreement that I was to sent 1500.00 in November and 125 a month. Now another representative contacted me and told me this would not work and I have to pay 700 a month or they will take me to court and take my car my house. Can they do this what should I do. I am so upset. I need help

[angeleyes9839]

I have a credit card that is now in the hands of National Enterprise Systems. I contacted them and one representative told me to send the 1500.00 dollars I had and to send 125.00 a month because that is all I could afford. Then another representative called me and was very nasty and told me this would not do and that I had to give them 700.00 a month or they would take me to court, take my car or anything else I own. Can they do this? What can I do to prevent this from becoming a court matter?

[amusememore]

Just like you I was sued by a company who bought the credit card debt from original bank for probably pannys on a dollar. I saw the lawsuit and made me little bit angry.I decided to fight it with all my energy.I did a lot of research and I am fighting this credit card lawsuit with all my force. In fact I created a website listing all the procedures I did so far for copletely free for other people to see. Go on my website http://www.yoogleme.com and see if you find the material any helpful Thanks and good luck

[hyflyp51]

I have credit debt, live on am 79 yrs old, SS is my sourse of income, My only posessino is 2002 lincoln paid for. I own no other asset