charged off ..now sold
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Posted by deep in texas
(65.90.144.70) on March 18, 2003 at 13:07:22:
Live in Texas. Own a home. Have joint checking account with my wife. (she is opening a indiv. account soon)
I have 3 debts 2 with Direct Merchants bank 5000 and 10000 and one with next card 5000. 1 has charged off and been sold (DMB 10,000).
My question is about the account being sold and do my rights change any. Can this 3rd party freeze my bank account? I have 2 cars that I am still paying on.Together the cars are worth 8000. I owe 12000.
I have no savings account and no other assets except a 401k.
The 3 cc in question are in my name.
I stopped paying these accounts so I could bring my other debt under control and so we could eat.
I dont want to file chapter 7 because my wifes credit is not that bad.
Should I try and deal with this still unknown 3rd party? Should I try and make at least a token payment to show good faith. By the way DMB was charging me 29% interest... What would you do?
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