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nctiptoes2
Joined: 08 Apr 2009
nctiptoes2's page
Posts: 1
35 Magic Points
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Subject: I have been served papers for credit card default. The debt
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Wed Apr 08, 2009 7:22 pm
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I have been served papers for credit card default. The debt was charged off in 2005 - what are my options?
Desparate |
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carol
Joined: 27 Jun 2006
carol's page
Posts: 1362
Location: Los Angeles, California
29592 Magic Points
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Thu Apr 09, 2009 6:50 am
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Do you mean that you have got collection letters for the debt? If it is so, you should send a debt validation letter within 30 days by certified mail to check whether the collection agency owns your debt and them pay it off. Moreover, you should check whether the SOL on the debt has expired or not. If it has already expired, then you are no longer legally liable for the debt and the creditor cannot sue you and bring judgment against you to recover it. Can you tell me the state where you have signed the loan agreement?
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Thu Apr 09, 2009 7:33 am
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Can you tell me the state where you have taken the loan?
"Charge off" does not mean that you are no longer liable to pay off the debt. In fact even if the account is charged off, the creditor legally recover the debt till the SOL expiry.
I think that you should ask for debt validation and settle the debt with the creditor after getting your debt validated. This is because if the creditors bring judgment against you, it will affect your credit score.
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Where there's a will, there's a way !! |
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Nancy
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Subject: I have been served papers for credit card default
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Thu Apr 09, 2009 1:28 pm
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| Thanks for the replies - I live in Georgia, where the SOL is 4 years. |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1298
28935 Magic Points
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Sat Apr 11, 2009 10:42 am
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Since you are in Georgia, the Statute of Limitation on the debt has still not expired and so you can contact the creditor, ask for debt validation and pay off the debt after getting the debt validated in order to avoid judgment. However, if you cannot afford to pay off the debt, you should not send DV letter and wait for them to send you collection letter first.
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Justin |
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nicole
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Subject: sol
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Wed Apr 29, 2009 5:45 pm
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| what is the sol on debt in minnesota?. I have 7 cards in default and i have no job and dont know what to do. |
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Mary
Joined: 06 Jul 2006
Mary's page
Posts: 730
17417 Magic Points
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Thu Apr 30, 2009 7:30 am
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The Statute of Limitation in Minnesota is 6 years for all types of debt. The SOL starts after 6 months from the date you have made your last payment towards the card. Can you tell me when have you made your last payments and the total amount you owe?
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Where there's a will, there's a way !! |
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Mary Ann
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Subject: Default
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Wed Oct 14, 2009 4:14 pm
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| Can someone who has left the country be served? |
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Mary Ann
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Subject: Banc accoiunts
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Wed Oct 14, 2009 4:23 pm
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| Can bank deposits is US from SS or a pension be accessed by collection agency? |
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Tara
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Subject: papers
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Fri Mar 12, 2010 10:32 pm
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| I was just served pepers for a credit card and there are more to come I'm sure. I don't work and have two kids. This dbt is from before I was married and my husband wants no part in it. What can they do to me and what is the best thing to do. |
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Aaron
Joined: 08 Feb 2010
Aaron's page
Posts: 446
8407 Magic Points
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Subject: reply
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Mon Mar 15, 2010 10:47 am
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Hi Mary:
Pension and Social Security Income cannot be garnished under the Federal Law. However, it depends on the state garnishment laws too. So check the garnishment laws of your state.
Tara:
Can you please tell me what kind of papers were you served?
Thanks,
Aaron
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