Q&A: I recently received a collection notice for funds that I owed that are over 12 years old How do I solve this?
Question by dVille: I recently received a collection notice for funds that I owed that are over 12 years old How do I solve this?
This came from an attorney representing a credit card company demanding over $ 6000. I knew that there had been a figure of $ 3300 at the time. But this a figure that I don’t agree with.
I was forced out of work at the time and I couldn’t even pay the minimum payment so finally the bills quit coming in.
Shortly thereafter I retired and only made less the $ 600 a month. This amount could only provide me with the necessities
of existence. This puts me in a dilemma.
After a period of time my credit was reestablished
I pay on 2 credit cards now and pay more than the minimum each month.
But this attorney threatens my credit rating if I don’t start to pay up. I have 30 days and counting to answer his letter..
I would appreciate some information from financial people or attorney’s that may provide a way to resolve this.
I have heard of programs that can wipe out accounts like this.
I have also heard that it is illegal for banks to extend their credit
through Credit Cards!!!
Answer by renalmama
I would look into the legal aspect of this. If you have not been receiving notices to try to collect this money for 12 yrs, I would think there is some kind of statute of limitations on collecting this money. And dont be intimitated by that lawyer…INTIMIDATION is his job!!!!!!!!!!!!!!!
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