Credit help!?

Question

Advice please!!! I lived with these two girls, and my credit card got up to 10k. They were shady and ran it up. I am stuck with the credit now. I really don’t need credit I have a house that is paid for, and I have my car. I am going to trade it in, my grandpa is helping me put it under his name. But now the credit card is up to 14k because of fee’s too. I have not made a payment in about 6 months. The credit card has been sent for collections with another agency. They have my old number at my dads house, so they keep calling my dad, and he is emailing me that they are calling and he is not sure why, they are just bothering him. What do I do??? I don’t want to pay it off because it will be 270mo. For 5 years??? And I already have bad credit because of it, I guess lesson learned. Can they do anything besides keep calling, and how long do they call for? I guess awhile, it is 14k.

Answer 1

You need to arm yourself with knowledge to fight the collection agencies. First read up on the Fair Debt Collection Practices Act (FDCPA).
http://www.ftc.gov/os/statutes/fdcpa/fdcpact.htm
Bill collectors cannot harass your dad. They can only call him once to inquire about your whereabouts.
Call the collection agency and ask them to send you a letter explaining why they are trying to get a hold of you. They have to respond within five days.
After that, and if they are still working for the original creditor, send them a "Cease and Desist" letter informing them that they are "fired". It is your right to deal with the original creditor only and you want to exercise that right.
If you are dealing with a Junk Debt Buyer (JDB) who have purchased the debt from the original creditor, you send them a "Debt Verification" letter. Make them verify that they truly own the debt and they have the legal documentation that gives them the right to collect from you. Include a paragraph stating that they can only contact you by mail only after the debt has been properly verified.
Send all correspondence with debt collectors by certified mail.

Answer 2

If these girls fraudulently used your credit card, you should have reported it immediately. However, I suspect they had your full permission to use the card and you also benefited from that $14K.

If this is the original creditor, they have different rules and can keep calling despite a cease and desist. Since they have your father's phone number, he will keep being bothered with the phone calls.

In any case, it is very likely they will go to court over $14K and they will win. They will take their judgment, attach your bank account, garnish your wages, and lein your property. Judgments last for 10 years and are newable. Of course, the judgment and leins all ding your credit a little more.

You will be paying more for your car insurance, be limited in employment, and renting a home.

What you should do is pay your debt. It won't take you 5 years because they are not going to accept such a small payment. They will want payments more in the $1300 range so the debt can be paid off in a year.

Answer 3

1. Your dad needs to tell them you don't live there and to cease & desist. They cannot call him anymore after that. If they do, he can then file a complaint for harassment.
2. You can always call that agency and tell them that you are "John Smith " and live at that # they are calling (make sure you *69) and that (whatever your name is) doesn't live there and to stop calling. Tell them that you have had this # for x amount of time and that you are not (your name) and that they may not continue to call. This will stop them from calling your dad asking for you.
3. You can file a dispute, although a little late now, which states that your credit card was used by your roommates that were not authorized purchasers on the card. Your card company may be willing to reduce or drop those charges.. but again it's a little late.
4. You could offer to settle with them for a specified amount.
5. Find out who the collection agency is and send them a cease & desist letter, stating not to contact you. Keep in mind, they can then garnish your wages, file a lien against a vehicle, bank account, your house, etc. With a large debt amount, it's a good possibility that they'll do that if you just ignore it. If it was $1400, maybe not, but when it's $10K+ it's in their best interest to do so. It takes a while to go through legal, but it can be done.

Answer 4

They will call everyday until they get a response from you... They have the right to do that because you owe a bill and it's past due there goin to actually bring u to court if you don't respond. I would bring the girls to court and say they took your credit card and ran it up and make them pay for all the expenses... beside the ones you made on the purchases... if there name is not on the card thats your best bet if there name is on the card... if not ur best bet might be to file bankruptcy and try to re establish your credit. I would make the broads pay for there expenses... let that be a lesson learend. Never give any girl your credit card.

Answer 5

first WRITE a letter to them saying to no longer call you.

Then get the Credit Reporting Agency validate the
debt

Then get the Collection Agency to validate the
debt

then sue them back if they can't validate.

www.creditinfocenter.com

Answer 6

They can sue you. If they win and you still do not pay, then they can garnish your pay or seize your assets.

They are not going to give up and stop calling out of boredom or hopelessness.

You can send them a letter telling them not to call any more and to contact you only by mail.

Your dad could change his phone number.