"In-House" Collections

Posted by MeToo (206.240.85.108) on April 21, 2004 at 09:37:55:

Back in 2000, CC delinquent, permanently closed by creditor and placed in their "in-house" collection. I never signed any "new" contract with them, but they set up plan (Letter had mini-miranda on back) for repayment at 12% interest, certain payment amount, certain monthly payment date. Been paying on this since 2000, but now they have started changing everything by increasing interest to almost 30%, differing payment amounts and due dates. There's no way I can pay this and they will force me into default. If I default on this, will my sol be from 2000 or will it begin now? I'm in VA with 3yr sol. Thank you for any advice.

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