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I'm trying to understand why I haven't had a law suit filed against me yet for my debt. I basically walked away from my debt several years ago because it just got crazy and out of hand. I was trying to finish school and work at the same time, and I ended up dropping out of school regardless. I was 18 and in school when I started getting into debt, and it culminated in me defaulting on student loans (which I'm now trying to rehabilitate), owing 3k or so to an apartment complex for not being able to pay up to cash out of my leasing agreement, owing almost 10k on a credit card, and some smaller sums here and there. Now I'm in the position where I live alone, I make 40k a year, but I can't get a credit card and I can't save any money because I keep having to fix my lovely truck to get around and can't get a loan for a new car. It certainly seems like a vicious cycle, and I can't comprehend why nobody has come after me yet legally for some of the debt. I have moved around quite a bit, and so maybe that has something to do with it. A lot of my accounts are several years overdue, and I imagine my freshest one must be approaching 2-3 years now. Do you have any advice for someone in my situation regarding what course of action to take? If I do end up getting sued, I will most likely be hosed, even more than I currently am somehow. I noticed in your list of options that filing for bankruptcy wasn't listed. Had you considered this at all? I certainly have been thinking about it, but I am not sure where to start or who to call. I find your situation very interesting and it's great to know that you've gotten yourself into a better situation. It gives hope to someone like myself that hosed up really bad before I knew the full repercussions for my actions.
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Dec 3, 2009 03:29
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CubsWoo I just wanted to say thank you for all the good information in this thread. Although not all of it applies to me it's got me thinking and planning for the future. I pulled my freecreditreport.com report today, and I also bought a Suze Orman book about being young and in debt. I noticed a lot of her information regarding this stuff is pretty in line with what you're saying. So far here are my goals for this month: 1.) Get a secured CC, and possibly get one of my parents to cosign for a real CC for me, just to start doing good things for my report. I hear sometimes after 6-9 months they will turn your secured card into a real CC with a low limit. This would be awesome for me since currently I can't get a CC at all. 2.) Make some loving calls. I need to make some calls and offer to make payments on things, or to pay them off. The problem here is I don't know who to contact, and ALL of my accounts are in collections. 3.) Find out if any of my debt is so far out that it should be removed from my credit report due to the time limitations. So I guess my big question here is, how the gently caress do I find out who to contact about this stuff? I see phone numbers and offices listed on my report, but all of the accounts say "Closed" with a payment status of "Seriously past due date/assigned to attorney, collection agency, or credit grantor's internal collection department". Should I just call these numbers? The bottom line is that I need to clean up my report. Is it better to just pay these things off from smallest to largest, or should I be offering to make payments? And can you even make payments on a collection account? I assume if you do that it won't come off your report until it's fully paid off- but maybe this is just me being misinformed. If you have any advice as to how I should start making contact with these people as to not gently caress myself over, I would greatly appreciate it. PS: My credit score is 586 and it says I have 7 accounts listed negative, 4 collections accounts, and $3k in installment debt/$100 in revolving debt. If that helps at all...
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Dec 8, 2009 23:08
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EVG posted:Wow, this is very interesting. If you have the money why not do a pay for delete? You'll pay a small portion of it and it will be gone forever.
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Dec 10, 2009 22:16
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