Re: orignial creditor/will they sue

Posted by LadynRed (199.91.33.254) on April 14, 2003 at 12:54:10:

In Reply to: Re: orignial creditor/will they sue posted by deepindebt on April 12, 2003 at 19:43:24:

You say you haven't paid some of them in 6 months ? If that's true, then those accounts are probably already charged-off. By law, they have to charge-off at 180 days of non-payment. Once they're charged-off, they go to 3rd party collections 99.9% of the time. At that point, you have the force of the FDCPA behind you to stop collectors from calling you and everyone you know. If a 3rd party collector has your accurate contact info, its against the law for them to call anyone else looking for you and also illegal for them to discuss your debt with anyone else (except your spouse) !

Being sued depends on how much you owe and to whom. Discover sues quickly, so too does Cap1 and Citibank lately.

You may be better off considering bankruptcy with that kind of unsecured debt - you'll be forever trying to dig out from under that.

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