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HELP!


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Posted by Betty (200.164.18.133) on January 21, 2003 at 08:47:33:

Due to death in the family, loss of a job and a move out of the country, I had trouble making payments and now have an outstanding balance with First USA Visa of $ 14,000. I lived in Maine and the balance was a lot less, but has since snowballed because of their fees and high interest.

My husband just got a new job and we had plans of continuing making the payments that we stopped 6 months ago.

Today I received a collection letter from'Bonded Collectin Corporation' of Chicago, IL, asking me to pay in full. Does that mean my account has been charged-off and even if I start make payments the delinquency will be on my credit report?

What should I do?

Should I contact First USA and try to find out if the account has been really charged-off? Should I try to negotiate payments with them so that won't damage my credit? What are my options?

Please advise!

Why Chat, I need your web site's address.

Thanks in advance.

Betty




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