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Re: Rescue Advice needed
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Posted by Anonymous
on January 23, 2002 at 19:36:41:
In Reply to: Rescue Advice needed posted by Bill on January 23, 2002 at 12:22:49:
Doesn't everybody just love it. All these cc's are your best friend and freely give credit to you when you are employed. When you hit a bump in the road they don't give a damn - even when the circumstances are not of your doing. Unfortunately, downsizing and lay-offs have become a way of life - - but these cc companies DO NOT CARE about circumstances - instead they try to ruin your credit making matters worse. Instead of helping people out when they have a crisis they make matters worse. If these debts are relatively recent - the last year or so, there's probably little you can do. If they've been charged off for 7 years + 180 days they cannot be listed on your credit report. However, NC SOL's may allow these creditors to take action against you. You might want to contact a bankruptcy attorney - to contemplate bankruptcy - although a big ding will stay on your credit report for 10 years - the plus is that the cc's cannot contact whatsoever regarding these debts. You didn't mention if the cc's are with a collection agency or not. If not, you or an attorney may be able to negotiate an agreement - especially since you both now have good jobs that pay well. Research the NC statutes (the state would hopefully have a website where you can access this info) & most attorneys give a free initial consultation. While BK is an unpleasant alternative - it's the cc's that give us no choice. IMHO when somebody has a crisis whether it be job loss or illness this should not end up on a credit report as being a bad risk.
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