what do I do, my partner and family are unaware of my situation. I really need help..
2007-11-03 11:33:15 · 3 answers · asked by Anonymous in Business & Finance ➔ Credit
Do _NOT_ start paying until you see a qualified attorney.
Under the laws of many states, if you do not pay on a debt for 4 years, then the creditor cannot sue because of a law called the "statute of limitations".
However, we do not know the state in which you live, whether you owe one or more than one creditor, whether you have been sued for the debt, whether $10,000 is for you a major amount of money, the reason that you "want to start paying", and other important facts.
Please re-post with the facts and make an appointment for a consultation with a competent attorney to review your situation.
Hope this helps.
2007-11-03 11:42:12 · answer #1 · answered by Tim F 5 · 0⤊ 0⤋
Get copy of your credit report. That debt was probably sold to a collection company for 25c on the $. Write to that company and propose a payback of 50c on the $. If they haven't been hounding you for it, don't disclose any address or account info until they accept deal in writing.
2007-11-03 18:39:57 · answer #2 · answered by pumpdatiron 6 · 1⤊ 0⤋
You could lose everything if you DON'T start paying.
2007-11-03 18:36:27 · answer #3 · answered by Judy 7 · 0⤊ 0⤋