2007-12-15 07:37:52 · 7 answers · asked by wetsauce 1 in Business & Finance ➔ Credit
Pay your bills!
2007-12-15 07:45:17 · answer #1 · answered by annazzz1966 6 · 4⤊ 3⤋
If your debt is old enough, you may be protected under the Statute Of Limitations Law.
The Statute of Limitations does not cause your debt to disappear after it has expires. If a creditor files a civil lawsuit, the person has an absolute defense to use against the creditor in court. They must present the new evidence in the court to avoid a potential judgment. You file the proper papers to the court to support the claim of a absolute defense. If the creditor tries to sue ,in a court of law and you do not prove to the court that the Statute of Limitations has expired, then you will have automatically lost lawsuit and a judgment will be issued against you.
2007-12-15 15:51:05 · answer #2 · answered by Anonymous · 1⤊ 0⤋
1st off pull your credit report now! if that last payment you made on that card was over six year this is past the states SOL. then you can argue this case in court. but if it is inside of the SOL call the party suing you and get a settle ment out of court. tell them you only have half they may settle with you, try to avoid court. but if you get to court a work on a payment plan, you will have to share your bills. income with the judge. ect.
2007-12-15 20:19:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Its not the end of the world. Call your credit card company and ask them for a lower interest rate. Believe it or not, this actually works sometimes. They would rather see you pay off the debt than see you in their bad debt write-offs.
2007-12-15 15:47:34 · answer #4 · answered by Raymond B 1 · 1⤊ 1⤋
Don't ignore it. If you don't show up to court, the creditor will get a default judgment which they can use to garnish your wages, attach your bank account, or lien your property.
2007-12-15 18:11:44 · answer #5 · answered by bdancer222 7 · 1⤊ 0⤋
Get a Lawyer
2007-12-15 15:45:49 · answer #6 · answered by abitaman_2000 3 · 0⤊ 1⤋
It sounds like you're past the time that you could settle, but often you can settle for less.
2007-12-15 16:15:02 · answer #7 · answered by Stephen 1 · 0⤊ 0⤋