- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Need help resolving fiance's credit card debt issue(seeking collection)
Posted on 6/12/13 at 2:38 pm to ZereauxSum
Posted on 6/12/13 at 2:38 pm to ZereauxSum
quote:
The original creditor was already been "compensated" when the debt was sold, so IMO, the original obligation is settled in a way.
I would still feel like I backed out on a debt. Because that's what happened. Somebody somewhere got left holding the bag and that was BOA. I would consider it settled if she sent the credit card company what she initially owed them.
4
Posted on 6/12/13 at 2:41 pm to Broke
quote:
I would still feel like I backed out on a debt. Because that's what happened. Somebody somewhere got left holding the bag and that was BOA. I would consider it settled if she sent the credit card company what she initially owed them.
meh, business is business, they take on the debt with a high interest rate knowing that default risk is high, if the statute of limitations has passed it's time for everybody to move on, don't send in anything.
Posted on 6/12/13 at 2:55 pm to Broke
quote:
I would still feel like I backed out on a debt. Because that's what happened. Somebody somewhere got left holding the bag and that was BOA. I would consider it settled if she sent the credit card company what she initially owed them.
I guess I can understand feeling that way, I just don't feel that way myself.
Based on the OP's timeline, it sounds like this collector called recently, which means that the debt was most likely sold within the past couple of months. If so, that means that BOA sat on it for 6+ years before they decided to do something with it.
BOA basically took a little money to completely wash their hands of this so I just feel like the obligation doesn't exist anymore.
Posted on 6/12/13 at 2:59 pm to Broke
quote:
I would still feel like I backed out on a debt. Because that's what happened. Somebody somewhere got left holding the bag and that was BOA. I would consider it settled if she sent the credit card company what she initially owed them.
I get what you're saying but BoA sold that debt a long time ago and probably wouldn't even accept the payment. Since the collection agency owns it, paying BoA won't get the CA off her back anyway.
Posted on 6/12/13 at 6:28 pm to Broke
Thanks for all the advice.i spoke with him requested a validation letter and he says he will be sending it tomorrow, when I get this letter what's the next step if you don't mind me asking? Worst case scenario is she will be taxed on $15k of income but not owe $15k correct?
This post was edited on 6/12/13 at 6:30 pm
Page 1 of 1
Back to top
Follow TigerDroppings for LSU Football News