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Charge-off questions


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Posted by Kelly on November 17, 2001 at 19:34:31:

I don't know what to do at this point, but I see people are really helpful here. So here is the story:

I got a credit card(MBNA Visa) while I was in college. (3/01/97 is beginning date on the card) Actually, it was applied for in my name by my mother, but I did actually use it after the fact, so I know the debt is mine. After I moved in March of 1998, I received no more bills from the card even though I had sent in a change of address form. As of 12/10/98 I was told that Visa considered it a charge-off. (I don't still have the documnetation for that other than what the collection agency has sent me) This past July I got notice from a collection agency that told me that they had bought my debt and that now instead of owing $1647.88 they put my debt at $2782.34. There are no papers saying anything about the discrepency in ammounts. I have the following questions:

1. What are the chances that they would take me to court over the ammount? ( I know that I owe, but I really want all my options.

2. I have no tangible assets. Our family rents an apartment and the only real thing we own is our car which is in my husbands name only. What can they actually do to get the money?

3. Does this affect my Husband's credit since it was before I was married?

4. How will this affect our tax returns? (If I still owe money when we get a return will it automatically be taken out from what we receive?)

Thank you for any help that you can give. I know the debt is mine and I intend to pay what is the fair ammount I owe. I will also later be discussing this with an attorney, but I wanted some general background on all this.

Thanks again,
Kelly


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