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DON'T BE HAMMERED BY YOUR DEBT

DON'T BE HAMMERED BY YOUR DEBT

Thursday, July 27, 2006

Coming Soon

The Myth of the Bankruptcy Threat
FDCPA-The Truth about the Federal Fair Debt Collection Practices Act
Medical Debts---My Insurance Was Supposed To Pay That

1 comment:

Anonymous said...

I have a quick question. I have two debts, when I was unemployed a few years back. One was a cc debt for $6500 (discharged 3 years ago), another was a car loan for $6000 (discharged 4 years). Recently I found out the collectors have been "re-aging" the debt - not giving accurate info, and so on.

One of them has threatened to sue (not the first time for me - but still has me worried). I contacted the original creditors, and they say they don't even have me down for the accounts I mention to them - they have completely wiped me clean.

Question is - what is the probability that they (the debt collectors) will sue? I have employment now - but honestly - if my original creditors don't even have my info anymore - and the collectors probably paid 1-3% of original monies owed (after 2-3 years)- why pay the 100%?? And isn't 7 years long enough with bad credit???

I would give them 5%-8% is that is what they would take, but...

I live in NYC.

Thanks - great info, by the way.