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Good or Bad Plan
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Posted by Planner
(68.112.4.90) on February 25, 2004 at 22:38:28:
When I first started researching, I was trying to get information on how to start making small payments on my charged off accounts that have made their way into the hands of CA's. All but one have been purchased rather than assigned. After several weeks of reading every site I can find, though, I'm wondering if I should start making those small payments to a savings account instead. That way I'll have at least a little money to hire a lawyer and maybe work out a settlement if I'm sued, and if I'm not, then I'll have some savings at the end of the SOL. I still have two years left before I can breathe easy, but I get the definite idea the paying a CA is throwing away good money and won't necessarily keep me out of court. Besides, although things are a little better financially with me, I can't count on a steady cash flow, so I might not be able to keep up with a payment program. Does this sound like a good plan?
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