First I would like to say what a great website this is. Extremely valuable material on this website.
Anyhow,long story short, my credit is jacked up and Im trying to fix it. Unfortunately I couldnt forsee the illness that prevented me from working for over a year otherwise I wouldnt be in this mess.
Nevertheless,My FICO score dwindled from 750 to 591. I've written debt-verification letters to 13 Collection agencies. Some of the bills are miniscule- 100 dollars here, 50 dollars there and havent reached the SOL. I also had some hard inquiries from collection agencies Im trying to get removed from my credit report as well.
My question to the people on this forum: I have a credit card bill that I stopped paying roughly 2.5 years ago because I couldnt pay because of my illness. The card was with Wachovia and has been sold to about a dozen CA's who dont want to settle. I stopped paying at around 7,000 with all the intrest it has been accruing since 2007 its currently hovering around 10,800.
What should I do? I mean the SOL for NJ is 3 years right? They havent threatened to garnish my wages or anything like that, however the debt keeps getting sold off to different collection agency. ASSET ACCEPTANCE LLC is the current holder of the debt. What should I do?
Hi Ant
Did you approach Asset Acceptance with a settlement plan? Usually CAs consider a settlement rather than losing out on money. Are you working now? You may find yourself lucky this time dealing with Asset Acceptance. Talk to them politely and tell them why you are in the financial crisis that you are in right now and that you are eager to pay them back but can afford only this much. Let me know what they say. We can think about this further if this doesn't work.
Will speaking with Asset Acceptance or requesting debt-verification reset the SOL?
I also have another problem as well. I had recently settled an account with LVNV LLC. So, I called them up just curious to see if they would delete the account off my TRW,which they declined to do so. They said that they will not delete the account off of my credit report and that it will come off in 2012. Is there anyway I can get this off of my account?