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Started By
Message
re: Just got dealt a low hand (wife's old CC from 5 years ago)
Posted on 10/5/15 at 2:59 pm to MMauler
Posted on 10/5/15 at 2:59 pm to MMauler
quote:
Even if you even start negotiating it goes back on your credit history for 7 years.
To all, does negotiating include a cease & desist letter, mentioning relevant statute of limitations laws and/or other federal fair credit laws the collector is violating?
2
Posted on 10/5/15 at 3:00 pm to foshizzle
quote:
Get off your high horse. Nobody has to pay an exorbitant rate, just don't borrow what you can't pay off each month and you're fine.
Spoken like a filthy f*cking debt collector.
And, do you really want to talk about high horses? It's you debt collecting a$$holes who are bringing up "moral responsibility" to pay off a lowly, scumbag, filthy f*cking debt collector.
Posted on 10/5/15 at 3:01 pm to GoIrish02
quote:
To all, does negotiating include a cease & desist letter, mentioning relevant statute of limitations laws and/or other federal fair credit laws the collector is violating?
It shouldn't.
Deny, deny, deny. NEVER acknowledge the debt or attempt to negotiate the debt.
Posted on 10/5/15 at 3:06 pm to GoIrish02
quote:
To all, does negotiating include a cease & desist letter, mentioning relevant statute of limitations laws and/or other federal fair credit laws the collector is violating?
No. Usually when they call, the first they're going to do is trick you into acknowledging the debt. They have no legal recourse until you acknowledge it. Sending a cease & desist letter does NOT acknowledge it.
Posted on 10/5/15 at 3:11 pm to MMauler
quote:
But you have no problem with these SCUMBAGS preying on college students with these bullsh!t credit cards with exorbitant interest rates?
They are college students, not toddlers. I managed to have credit cards in college and paid them off on a normal basis and built credit.
Posted on 10/5/15 at 3:12 pm to MMauler
quote:
Spoken like a filthy f*cking debt collector.
The only people who have problems with debt collectors are people who don't pay their debts, which IMO are the people who are scumbags.
Posted on 10/5/15 at 3:19 pm to barry
quote:
The only people who have problems with debt collectors are people who don't pay their debts
I pay my debts and have a huge problem with debt collectors. More a problem with how debt collectors operate. They are scumbags and prey on the uninformed.
Sure, those they are going after may be scumbags as well, but I side with the little man in this fight.
Posted on 10/5/15 at 3:20 pm to b-rab2
A couple more points to the OP.
First, as debt gets older it has less of a hit to your credit. As a few have mentioned, after the seventh year it comes off completely.
So, negotiating now could have a SERIOUS IMMEDIATE negative impact on your current credit.
Second, the SCUMBAG scavenger debt collectors buy millions of bad debts for pennies on the dollars - often in an auction-type environment. In many instances, they don't get any of the paper work.
Therefore, the first thing you should do is challenge the debt with all three credit agencies. The debt collectors have a certain number of days (30 or 45, I forget) to prove the debt. There are forms on-line you can find with a simple Google search. Because these scumbags don't have the paper work they have nothing to verify the debt. Many times, they don't even respond and it comes off your credit immediately and can't come back UNLESS you acknowledge the debt or engage in negotiations.
Good luck. And, don't listen to any of these scumbag debt collectors who couldn't get jobs doing anything else.
First, as debt gets older it has less of a hit to your credit. As a few have mentioned, after the seventh year it comes off completely.
So, negotiating now could have a SERIOUS IMMEDIATE negative impact on your current credit.
Second, the SCUMBAG scavenger debt collectors buy millions of bad debts for pennies on the dollars - often in an auction-type environment. In many instances, they don't get any of the paper work.
Therefore, the first thing you should do is challenge the debt with all three credit agencies. The debt collectors have a certain number of days (30 or 45, I forget) to prove the debt. There are forms on-line you can find with a simple Google search. Because these scumbags don't have the paper work they have nothing to verify the debt. Many times, they don't even respond and it comes off your credit immediately and can't come back UNLESS you acknowledge the debt or engage in negotiations.
Good luck. And, don't listen to any of these scumbag debt collectors who couldn't get jobs doing anything else.
This post was edited on 10/5/15 at 3:23 pm
Posted on 10/5/15 at 3:44 pm to MMauler
How much did you borrow and how much did you renege on? You've got some anger boiling up from a personal experience, it sounds like. So, credit card companies "prey" on college students? I didn't realize. 
And, by the way, I am old, probably in the same age range as your parents, so take it easy....calm down.
And, by the way, I am old, probably in the same age range as your parents, so take it easy....calm down.
Posted on 10/5/15 at 6:49 pm to MMauler
quote:
Spoken like a filthy f*cking debt collector.
Yeah, it's filthy to expect to get paid back.
If you can't afford to borrow in the first place, don't do it. Pretty simple. quote:
It's you debt collecting a$$holes who are bringing up "moral responsibility" to pay off a lowly, scumbag, filthy f*cking debt collector.
You obviously didn't read my posts. I suggested ignoring it for two years and letting it fall off the credit report.
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