Re: validation worthwhile???

Posted by Parry (67.5.184.13) on December 20, 2003 at 12:09:59:

In Reply to: Re: validation worthwhile??? posted by glitter_girl on December 19, 2003 at 19:27:42:

10 years ago I had a business failure leaving me $350K in debt.I did not want to file BK--mainly because of the stigma attached. I did not own a home and leased my car. I had 14 credit cards and just defaulted on all of them because my income was greatly reduced and could not afford the payments and exorbitant interest charges.

I changed my phone to an unlisted number and I just "ignored" all of the letters I received. I "never" requested validation or C&D or anything.

Only "after all my accounts passed the SOL" and I was tired of of the 3rd and 4th "debt buying companies"--writing me letters and offering me 20% to 30% settlement offers--did I send C&D letters out.

I was never sued by anyone. I never even had a threat of suit--because I had no "visible" assets and they were never able to speak to me.

Conclusion: Let sleeping dogs lie: Do not wake up the sleeping giant--is sometimes the best way to deal with CA.

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