Posted on
November 19, 2009
at
4:03 am
I've this credit card debt from years back..I barely remember it..but it's been a couple of years or so now and I've also moved states - do I have to pay these debt collectors that are calling my phone?
Posted on
November 19, 2009
at
4:07 am
Do I have to pay these debt collectors -Just couple of years ago? I think you do have to pay that debt - even if you have acquired it in the state of California (which has 4 years statue of limitation on debt collection - as opposed to the other states which have 6 years).Have them verify it first though.
Posted on
November 19, 2009
at
4:10 am
Do I have to pay these debt collectors -Hey there, don't admit to that debt or promise to pay for it, not unless you have had it verified. Debt collectors are required by the law to send you a letter containing the amount of debt you owe, your creditors information, and what you can do to have that debt verified -- within 5 days after they've first called your phone.
Posted on
November 19, 2009
at
4:20 am
Do I have to pay these debt collectors -Once you have had that debt verified, what you can do is negotiate the balance. You can do the negotiation yourself or you can hire the services of a debt relief company.If it so happens that you owe more than $10,000, then you can do debt settlement. Debt settlement is a program that can reduce your balance to more or less half.
Posted on
November 19, 2009
at
4:22 am
I see...Well thank you all for your replies, one more question though - what if I don't pay them? What happens to me? I'm as broke as - and I just don't know how even will I pay for that debt settlement you are talking about.
Posted on
November 19, 2009
at
4:25 am
Do I have to pay these debt collectors - what if I don't pay them? What happens to me? I'm broke -What if you don't pay them? They might sue you to obtain what is called a judgment. A judgment can be any of the following, until the debt is satisfied:-wage garnishment-bank levy-property lienYou won't go to jail though.You said that you're broke..do you have a source of income though?
Posted on
November 19, 2009
at
4:29 am
Do I have to pay these debt collectors - what if I don't pay them? What happens to me? I'm broke - I agree with the previous reply and okay, if you're wondering how much debt settlement would cost you, it is 15% of the total debt amount spread over 18 months or a percentage of the settlement amount (20-25%)If you owe $10,000, that 15% translates to $150/month. The debt settlement program runs from 12 to 36 months.
Posted on
November 20, 2009
at
1:49 am
Do I have to pay debt collectors? Yes, you can. Your payments will be forwarded to your creditors thereafter.
Posted on
November 26, 2009
at
4:08 am
Do I have to pay these debt collectors - what if I don't pay them?Aside from a possible judgment, you will also still receive collection calls from them. They may also attempt to contact your place of employment to get in touch with you. If you do not respond to any of their attempts of contact they may also do "skiptracing" procedures by contacting your neighbors or relatives. Just as long as they're not disclosing why they're calling you, they are not breaking the law.
