I was served papers by a law firm on New Years Day for an old credit card debt. The amount is 4000. I am a single mom and don't have that kind of money. The debt is from 7 years old and the SOL in IL is 10 years I believe. Please help. I am sick over this
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Anonymous
ANSWERS: 4
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First, make sure both the debt and the law firm are legitimate. This link will get you started in that process: http://www.creditinfocenter.com/rebuild/debt_validation.shtml If the debt is on an open-ended account, the SOL is 5 years in Illinois (10 for a written contract). It may be this agency can't even come after you for the debt. The primary tactic of debt collectors is intimidation. They come on strong and may at times use illegal tactics in a effort to recover what they paid for your debt. Don't panic and play into their aggressiveness. It might be in your best interest if, in fact, you owe the debt to contact the firm and work out a payment plan. Sometimes you can settle on a charge-off amount that's much less than the original debt. Or you may be able to set up a payment schedule that works for you. But know your rights first. Check out the Fair Debt Collection Practices Act. You may also be able to consult with an attorney or credit counselor free of charge. Good luck.
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Remember also that if you pay any part of the debt (even a dime) the entire debt SOL is reactivated. Talk to a free debt counseler. I hear about free help groups on TV whenever i'm home sick.
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I had the same problem worked out a deal with them Then 6 months later they where not satisfied with it. and demanded full payment. I stated you are refusing the amount I'm sending you I hope this is being recorded. they said yes we want it all now. I stated again of them refusing to make sure I was clear. Then I stated I know this is my debt but you are refusing the money. Now I dont want you to call/write/send anything to me. You dont want my money! I dont want your input either good day and good ridance. . sure thats not the answer your looking for but I would stick with what dean said. Intimidation on a woman can be very heart wrenching. Dont fall for it. did this letter/notice come by certified mail or sheriff dept. If it came by regular mail, just dont respond if your not planning on paying them. Good luck.
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I heard that as long as you pay something every month even $1, they can't sue you. Make sure to pay by money order. Also, a friend of mine's brother welshed on his debts. The bill collectors sent papers, called, etc. After a period of time, they sent papers that said they would settle for 1/2 or 1/4 the amount. I would not tell them anything. If you don't have anything, they can't get blood from a turnip. They usually back off after a period of time.
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