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    Josskacer's Avatar
    Josskacer Posts: 14, Reputation: 1
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    #1

    Nov 17, 2007, 10:18 AM
    Old credit card debt
    Hi, I was really stupid about six years ago and ran up some really astronomical credit card bills. Around 10k. I haven't heard from the company in years, but recently got a letter from some lawyer in New York offering me a settlement for 4k. What should I do? Ignore the letter? Respond? Can they still come after me? What's should I do??
    silentrascal's Avatar
    silentrascal Posts: 194, Reputation: -2
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    #2

    Nov 17, 2007, 10:25 AM
    Well, you clearly still owe them money and if they're willing to settle things for less money than you actually owe them, I say go for it. What you do is find a finance company willing to give you a personal loan for the 4K (or whatever it comes down to) with a reasonable rate of interest on the loan. Then you pay off that credit card debt and focus on paying off the loan (and try to send in over-and-above what your monthly loan payment will be.
    mr.yet's Avatar
    mr.yet Posts: 1,725, Reputation: 176
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    #3

    Nov 20, 2007, 07:50 AM
    Dispute the debt, if you don't it is consider valid. This must be done within 30 days o the notice send to you.

    Ask for validication of the alleged Debt in writing, and never speak to them on the phone.
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