Re: I have concerns regarding advise such as this

Posted by Linda (65.120.51.85) on September 01, 2003 at 21:21:32:

In Reply to: I have concerns regarding advise such as this posted by Karen on September 01, 2003 at 18:47:23:

I uderstand your concerns. The fact is, however, you did not pay the original creditor when you paid those debts off years ago - you paid a 3rd party who had purchsed the debt for pennies on the dollar. The original creditor wrote the debt off, by choice, rather than wait for you to pay. Not only that, you probably paid way more than you acutally owed, and you didn't have to.

There are laws that were enacted to allow consumers to protect themselves. It is not immoral to use those laws to keep as much derogatory information off one's report as possible.

You would probably feel more at home on the MSN money boards, their philosophy is similar to yours. The people I (and Why Chat) help come out with fairly acceptable credit reports/scores within a year.

Credit is used for insurance rating, apartment renting, getting decent jobs - today it is used for everything. They will bury this guy and he will never get out. His family and kids will do without because he listens to your advice.

You can bet he's learned whatever lesson it is he needed to learn, if it was that at all. Some people here have been injured in accidents and their insurance company is stringing them along, not paying. Some have lost their jobs due to corporate corruption ruining the economy, while those white collar criminals live above the law and answer to no one. Some have had seriously ill children or spouses and are struggling to survive and get the mdical treament they need. You don't know!! That is their personal business, as is their conscience and their choice of how to handle the situation now.

The law says accurate negative information CAN remain on your reports for 7 years. It doesn't say it HAS to remain for 7 years. New York state has even enacted a law that removes paid judgments and charge offs after 5 years, believing that 7 is too harsh.

California, Colorado, Texas, and many other states have toughened their consumer laws to stop the abuse consumers in trouble have to deal with. It isn't like you think.

I am not saying don't pay, I am saying pay at a better time, and on better terms, if you feel you must pay. These laws are there for just that reason. I doubt that you have been on this board long, or read much of the prior posts, or you would see the extent of the problem. These accounts are sold over and over again. With the use of computers, people are kept in credit hell forever. Why not?? Everyone makes more money off them that way.

The credit/collections system is flawed, it is corrupt, I do not believe in supporting it. I believe people should follow their conscience. Denying any knowledge is his only way of forcing them to do what the law says they must do - prove the debt - the full amount they are suing for - is his debt. I assure you the charges have been jacked up by adding on fees and exhorbitant interest. The system is not based on morality it is based on profit only, at the expense of the consumer.

Again, I advise people to deal with collectors and attorneys ontheir own grounds - the courts. Answer according to the law. Go back and deal with the original creditor later when he can pay them AND keep his lights on and food on the table.

Read here some more - you will get the big picture that way.

Linda

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