If so what would you suggest I do?
2006-08-19 13:31:50 · 12 answers · asked by respadatcill 2 in Business & Finance ➔ Credit
Morons! Everybody on Yahoo is Morons today!
Let me ask you something......
Have you checked your credit report lately? Are any of these collections listed on it?
I bet not. After 7 years they can no longer be listed on your credit reports.
Ever hear of the Statute of Limitations?
The SOL is the timeframe a creditor has to sue you. For credit card debts, it's generally 4-6 years, but you need to double check with the state you live in. In no case is it over 10 years.
So.....you no longer have a legal obligation to pay any of these debts. If they call you, tell them to go away. If they try and sue you, simply file a motion to dismiss based on the Statute of Limitations. They can't do anything to you.
So that said....you don't need to file bankruptcy.
Contact me if you need more info.
2006-08-20 06:13:02 · answer #1 · answered by Anonymous · 0⤊ 0⤋
What's with all the bankruptcy questions??? It's not like it used to be. People have to qualify for bankruptcy now with a certain debt to income ratio. It's mounds and mounds of paperwork, court appearances, etc. I wouldn't consider bankruptcy for less than $50,000 in credit card debts. There are so many rules and laws. Of course the attorney is the only real answer for your state and your situation. It should a last resort but as for credit cards that are 10 years overdue, they are past the statute of limitations if you have not paid a dime on them, DONT. They need to be removed from your records under the Fair Credit Reporting Act. If you have paid a payment within the amount of time as a statute of limitations in your state, sorry, you are now liable to pay those debts.
2006-08-19 13:45:23 · answer #2 · answered by Anonymous · 0⤊ 0⤋
If it is each and every of the debt you have you are able to actual set up a cost plan throu an outfit like Debt alleviation Servcies, eliminate many of the interest and area of the unique central and do the honorable subject, pay it returned. in spite of everything, a financial disaster won't plague you to any extent further than what your credit checklist appears like good now with a team of chargeoffs on it. i do no longer comprehend what you're doing jointly as residing in a foreign country yet once you're nevertheless a student you will desire to be sure what you opt for to do for a residing and initiate doing it, notwithstanding if in a foreign country or everywhere you're at and initiate behaving like a in charge, tax paying citizen somewhat of dodging your regular jobs. Having stated all that the banks are to a level in charge to your difficulty with the aid of loaning you the money in the 1st place. in the event that they gave a rat's rear end approximately how they invested that $20,000 of their depositors money (they invested it in you, a foul investment) they on no account would have issued the cardboard to a student. So, they took a real extreme and undesirable danger. the only way the Banks will exchange their lending behavior is that if a pair of million adult males such as you all record financial disaster on a similar time. it would deliver a message, no longer approximately financial disaster yet approximately lending and borrowing. initiate incomes a residing and paying money. mastercard debt is for genuine chumps. learn a lesson and don't repeat it.
2016-10-02 07:27:55 · answer #3 · answered by ? 4 · 0⤊ 0⤋
Get a bankruptcy lawyer. And by now those cards have been sold to collections agencys. I would tell you how to save money and file on your own like me but the law has changed and gotten way to confusing.
2006-08-19 13:37:24 · answer #4 · answered by College Student 3 · 0⤊ 0⤋
How to Avoid Bankruptcy Explained
http://www.debt-explained.com/category/How-to-Avoid-Bankruptcy-Explained.html
2006-08-20 01:31:00 · answer #5 · answered by iuw r 2 · 0⤊ 0⤋
wow 10 years, how did ya do it?
yes, you can file bankruptcy as a matter of fact that's a good start.
bankruptcy isn't all that... get a lawyer pay the fee then go before the us trustee and then that's it.
2006-08-19 13:37:57 · answer #6 · answered by Anonymous · 0⤊ 0⤋
if your cards haven't been paid on in 7 years or longer........dispute through all three major credit reporting companies and tell them the statute of limitations are up.....they will be deleted...congrats you got away without paying and going bankrupt....
2006-08-20 05:16:24 · answer #7 · answered by Anonymous · 0⤊ 0⤋
You need to consult with an attorney or a certified public accountant.
2006-08-19 13:37:14 · answer #8 · answered by Anonymous · 0⤊ 0⤋
why have you waited that long to pay your credit card bills?
2006-08-19 13:37:40 · answer #9 · answered by Lola P 6 · 0⤊ 0⤋
Pay up deadbeat.
We are all getting of carrying your sorry ***
2006-08-19 13:38:19 · answer #10 · answered by newt_peabody 5 · 0⤊ 0⤋