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Re: Recession in 1990-1993 -- Show of hands? poor lawyer, "et al"
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Posted by Pat (170.215.213.34) on August 15, 2002 at 13:52:19:
In Reply to: Recession in 1990-1993 -- Show of hands? poor lawyer, "et al" posted by lucy on August 15, 2002 at 00:52:50:
Literally all of my debt (which at one time amounted to $100,000 and is now down to about $10,000) is directly attributable to the downturn of the early 90's. My business was tourism related and the Gulf War in '91 precipitated a whole host of company closing's in the tourism industry. My company depended on those companies as clients. In a mis-guided effort to keep the company going my husband & I put everything we owned into it (retirement funds, equity in our home) and used our personal credit cards to fund company expenses. Fast forward to 2002 - after re-paying $90,000 we've been left with 4 credit cards that have about $2500 due on each. One has already obtained a judgment against me (I didn't know I could fight it so I didn't even try), two are SOL and the last one is being pursued by Portfolio Recovery for twice the amount I owed. I'm putting up a fight, but since I kept trying to send small amounts through early 1997, I'm pretty much screwed. We're not dead-beats, but what happened over ten years ago, in the space of 2 or 3 years is still haunting us.
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