# Credit Card Help needed.



## whatrset (Apr 13, 2010)

I am posting this because I am looking for options dealing with a credit card company and I have little experience in the getting rid of them department. I will give you as much information as I can and will welcome any factual information. Please try to hold this thread to your experiences dealing with companies and not let it go to what THEY should have done. We all know they are snakes, so there is little good to come from expecting them to play fair.

1. My finances: 
a) I am on a fixed income and my wife lost her at home income last year due to a loss of customers for our miniature dachshund business. 2 hurricanes hit our primary sales locations and we were unable to recover.
b) I currently owe over 44k in CC debt, to 4 different cards: Citibank: $5,300; Am Ex: $3,800,: Capital One: $16,850; and Chase: $18,387.25 
c)After the loss of the dachund business, we had to negociate a lower payment with Chase and Cap one, and those lower payments lasted for 1 year, but now they are expecting me to be able to bleed money and pay 3x the $100 rate that i was paying to put the account on hold. NOW: Capital one is threatening legal action if we do not pay more. But, THere is little more that I can pay (Altho I have been pigeon holing a bit to try to pay them off and be done with them, while they were on reduced pay status.
d) I have about $2500 in a Credit union account saved up toward paying CC bills, and about 7500 in a 403B that would translate into about 5K after taxes and penalties.

2. Questions: 
a) Has anyone had any luck with setting for less than owed with any of these companies?
b) Does anyone have experience with Capital One specifically?
C) any ideas based on what I have told you and your experiences will be greatfully appreciated.

**NOTE: I do not trust credit counseling services or any of those kind of places to be honest with me, and I expect to do this on my own!


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## whatrset (Apr 13, 2010)

No one has any help to offer?


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## thaiblue12 (Feb 14, 2007)

You posted in Work at home, you would do better to post in homesteading or countryside families. More populated and your question is better suited there. 

I am going to court with Capital One tomorrow. My card was lost/stolen, they refused to cancel it let them keep charging. Cap One illegally took payments from my account. I paid them $60 and within days they would withdraw another $100 to $800 without permission. So we'll see what happens. 
I think they are an awful company, poor customer service and I would never do business with them again.


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## whatrset (Apr 13, 2010)

Ty THai,
Good luck on your suit.

Can a mod move a thread on this site, I wasnt sure where to post it.


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## beewench (Mar 5, 2010)

Your $2500 is notgoing to be very appealing for the cc with the 16k and 18k balances. You may be able to settle the others for it but it would probably be many months of them harassing you before they agree to it. You could call and offer to settle, if they don't agree then move on to the next card.

On a side note, please go check out Dave Ramsey ornpick up his Total Money Makeover book at the library. Dave is not a gimmick or a CCC service. His principles are lifechanging and realistic. You can also search on this forum for Dave Ramsey as there have been a couple of discussions about him.

Regardless, good luck with all this and I will add you to my prayers to help you.

-=Sarah
www.beewench.blogspot.com


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## Wylie Kyote (Dec 1, 2009)

Hi whatrset. I would be looking at consolidating all my debts into one with a lower repayment plan. If you have obtained that much credit in the past without problems you should have no problem in obtaining a consolidation loan. Try your bank or one of the "reputable" CC companies. Good luck, Wylie.


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## Beaners (Feb 23, 2005)

Be careful consolidating things. Normal credit cards are unsecured, meaning that they aren't linked to any assets. If you are unable to pay they can threaten you with legal action but they can't actually take anything from you. They might be able to get a court judgment saying that you owe them a certain amount but I've yet to hear of any of those that have any teeth to them. They just say that you owe them the money, which you already know. With your current income situation most banks or credit unions might require you to put something up against the debt, which they could take if you are unable to pay. Also make sure that you don't get behind on any other accounts you may have associated with a bank or credit union you have money in. They can empty your account in their attempt to settle the debt.

I know that my husband was offered a lower payment to close an AmEx account that he had abandoned before we got married. They offered that though, we didn't approach them. That was also a few years ago. I'm not sure what they do currently.

If they are harassing you on the phone it is possible to send them something that only permits them to contact you in writing. I don't have any great advice if you can't even afford the minimums on the total debt. About the only option I can see is to focus on whichever you consider the highest priority and hope that by the time you have taken care of that your finances are either in a better position or the other companies are willing to settle for something lower. A consolidated loan might lower your minimum due slightly but if it's still more than your income that doesn't help. Also keep in mind that you may need to pay a "service fee" of some sort if you are considering the consolidation or "zero APR introductory rate" juggling credit card routes. I hope you can find a workable solution.

Kayleigh


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## whatrset (Apr 13, 2010)

I want to than you guys fgor your ideas.
*******, I think you are on to something. I have already settled all my outstanding debt with the credit union and the bank with my last years tax return. I was actually hoping that I would be in a better position before they started harrassing me too much. 
If it wasnt for my wife being in school and being trapped all day here at home, I would definitly rock the boat a lil more. THe idea about forcing them to corresponding in writing is a good one too.


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## Riverdale (Jan 20, 2008)

******* said:


> Normal credit cards are unsecured, meaning that they aren't linked to any assets. If you are unable to pay they can threaten you with legal action but they can't actually take anything from you. They might be able to get a court judgment saying that you owe them a certain amount but I've yet to hear of any of those that have any teeth to them.
> 
> 
> Kayleigh


They 'USUALLY' sell those to bottom-feeding law firms for 10 cents on the dollar.

The those bottom-feeders sue.

They CAN attach state income tax refunds (but not federal).

I learned, the hard way.


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## Beaners (Feb 23, 2005)

Riverdale, I'd never heard of that before so I looked into a little bit. Michigan is one of the few states where they can do that. In most states they can only do that for things like student loans or child support that are affiliated with the government. I've gone over Louisiana's Dept of Revenue site a few times now and see nothing about allowing state tax refunds to be claimed in a judgment. I'd ask a lawyer or someone who does taxes to be sure, but I don't believe that they can do that in Louisiana.

Kayleigh


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## Terri (May 10, 2002)

I was able to get 2 CC companies to settle for less than what my MIL owed. The deal was the lower (renegotiated) amount would be paid in full within a few days. This was arranged through the collections department. This might be a usefull thing to do with your $2500: it MIGHT pay off one of the smaller debts.

At the end of the year she had to count the amount the CC wrote off as income on her taxes, but it was still a pretty good thing to do.

I was also able to negotiate lower interest rates for her.

If you were able to squirrel away 2500 in 12 months, then that means you were able to set aside $150 a month over your living expenses. You might TRY to see if one of the smaller debts can be settled for $2500, though I think that that might be too big a write-off for them to accept. But you can ask.

You can ALWAYS ask. 

While you are at it, ask if the interest rates might be dropped.

I am sorry to hear that your wife's puppies are no longer selling. You might think about re-homing some of the breeding stock, if you haven't already. A dollar saved is $1.25 earned. I am not saying you should not keep one or two as a pet: I am saying that perhaps you should not keep them all? Then that might free up a run or two so that you can board dogs while their owners are on vacation. 

You implied that the new minimum payment would be $300? Is that for each of the big CCs? Theny you will need $400 a month MORE than what you have been paying.

You have perhaps $150 a month you can use, as that is what you have been putting away, AND if you do well on boarding dogs that MIGHT bring in another $160 profit, but that is not yet enough. 

That is all I can think of now. We WERE able to get 2 of MIL's CC companies to take the reduced amount, though they wanted the money within a couple of weeks, and we did it through the collections department.

With one of the little debts gone, that would add perhaps another $25? per month to the kitty, and give you one less company to be dealing with besides.

Terri


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## whatrset (Apr 13, 2010)

We found homes for all the dogs and I declared a total loss on last years Fed Income tax. I actually built up the 2500 in 5 months, so the more I think about it the $300 is doable but #$%#$ me off because it was not the arrangement that we agreed upon 3 months ago. It was supposed to be $100 for year, to service the interest (while unbeknownst to them I snowballed the lower cards). THey are just trying to throw me off of my game, and I paniced.

I am seeing the right tunnel ahead and I than everyone on this forum, and another for tossing ideas to me because they are lifelines. It is nice to have options and not feel trapped.


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## Terri (May 10, 2002)

whatrset said:


> I actually built up the 2500 in 5 months, so the more I think about it the $300 is doable but #$%#$ me off because it was not the arrangement that we agreed upon 3 months ago. It was supposed to be $100 for year, to service the interest .


Oh, OK.

NOW you call them and ask for a supervisor. You had an arrangement and now the CC company is trying to change it. 

If you do not get satisfaction then ask to speak to HIS supervisor. They expect you to abide by the deal but then they MUST also.


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## whatrset (Apr 13, 2010)

I plan to do that, but I want to shake the $$$ loose just in case it was one of those never recorded never happened type deals. I do not recall getting a written confirmation after my wife set it up.


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## Terri (May 10, 2002)

whatrset said:


> I plan to do that, but I want to shake the $$$ loose just in case it was one of those never recorded never happened type deals. I do not recall getting a written confirmation after my wife set it up.


Was your wife given either a name or a confirmation number?


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## countrygurl (Dec 23, 2002)

sent you a pm, sorry for any typo's i was typing in the dark only using the light from my lap top.


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## farmergirl (Aug 2, 2005)

I have found that credit card companies in general become FAR easier to deal with when you simply stop paying them. Sure, they'll call and bug you, but if you wait long enough (like 2 or 3 missed payments) they will offer to work with you. The thing is, no cc company will offer any sort of help to someone who is making their payments on time, even if you are scraping by without food to do so. 
CC companies are operating on the belief that you keeping a "good credit score" matters to you. If you don't care about your credit score, their threats become quite hollow.

I had a very hard time financially after being diagnosed with a chronic and debilitating illness. I finally was able to work with the two cc's I have to set up affordable payments. Both are closed accounts, as I have no intention of ever using a credit card again. 

Best of luck to you. Don't let them intimidate you. Scare tactics are just that. Be smart, be educated about your rights, but don't you ever be scared when dealing with a cc company.


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## whatrset (Apr 13, 2010)

Terri said:


> Was your wife given either a name or a confirmation number?


Not that I know of now that you mention it. IT will be something I push for in the future.


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## sunflower-n-ks (Aug 7, 2006)

This is where a dedicated note book and writing down EVERYTHING they say in it as well as dates and confirmation numbers, etc. Also any payments made, and to whom. Make sure to get names of the people that you speak to and maybe even the position they hold in the company.


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## thaiblue12 (Feb 14, 2007)

I won in court!  Just with the evidence *they* had provided. I proved my card was stolen, they allowed them to keep charging over my limit and credit me on one day and allowed them to KEEP charging days later! I also proved they illegally withdrew funds within days of me making a payment. But my situation was different than yours. 

Tell them when they call to only contact you in writing, via letter and/or email, they in most states have to follow that. If they harass you in writing you have proof. If they call you anyway tell them you are recording the conversation, they will behave better and remind them again contact is through writing then hang up. 

Since you have 3 high balances, debt consolidation is probably the way to go. While they will settle for less in court they will not eat 75% of the debt. I had to wait for a letter from the court so I can give it to the collection agencies to remove the false negatives applied to me, so I heard a few cases and while they will settle it was not for that much lower. If you can pay that day it is closed with predjudice, meaning they can never come after you for the money again. 
If they do sue you, provide the evidence and answer during the allotted time. One couple did not and their outcome was not great. Another man did not show up at all and they of course ruled against him, with interest of 19%. 

A friend of mine did debt consolidation. It was a 3 year process, she paid monthly and was not harassed during that time. It was a lower amount with a lower interest rate. She liked the outcome and had less stress. Yes it dinged her credit but not more so than racking up late after late. 

Good Luck.


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## Terri (May 10, 2002)

Thaiblue! CONGRATS!!!!!!!!!!!!!!!!


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## whatrset (Apr 13, 2010)

Congrats Thai!

Well, I think I am going to take my pennies and try to settle with one of my smaller cards which will make the 300 feasble on my meager income. Then, while I have the lady on the phone from Cap One, I will agree to 300 only on condition that 1) the rate is good for at least 1 year; 2) No more late fees are attached to my account; and 3) I get a written record of our agreement. If she cant meet those three conditions, then she will continue to get 100/month as a good faith payment for the next year, and we will try this again in one year unless I am harrassed about it, then she can get ZIP, ZERO, NADA and I'll use the cash she would have gotten to snowball the other debt.

I hate these people, and I want them to go to the 9th ring, of the lowest putrid inferno.


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## Nevada (Sep 9, 2004)

whatrset said:


> 2. Questions:
> a) Has anyone had any luck with setting for less than owed with any of these companies?
> b) Does anyone have experience with Capital One specifically?
> C) any ideas based on what I have told you and your experiences will be greatfully appreciated.
> ...


A quick note before I start. I've said these things before and was flamed for being a bad person. I'm not a bad person and don't advocate ducking your debts. I only give you the facts that the credit card companies are already armed with. I'm just trying to level the playing field with information.

I want you to understand that *you don't have to pay unsecured credit card debt*, which is what you're talking about. You don't need to declare bankruptcy either. If you want to wipe-out your credit card debt then all you have to do is to not pay it for a few years until the statute of limitations in your state expire. In your state (Louisiana) it's 3 years from the date of the last payment. Just hold them off for three years and it's over.

The first thing you need to do is to tell them that you don't want to talk to them. I recommend that you still communicate with them by letter, so you always know what's going on and you stay in control. To do that you need to write them a letter. Specifically, you need to make a cease communication demand; demanding that they not contact you by phone but may contact you in writing. You can reference 15 U.SC. 1692c as the federal statute which makes it illegal for them to contact you after the demand. Here are some sample letters:

http://www.google.com/#hl=en&safe=o...l=&oq=cease+comm&gs_rfai=&fp=b8a3d25e1efe4b25

In the cease communication letter you should also ask for verification of the debt (search Google for debt verification sample letters). This sounds redundant, since you probably really do owe the money, but this will get you off the hook 50% of the time. They will probably send you a bogus affidavit saying that you owe the money, with some collection officer having signed and notarized it. That doesn't meet the law, since they need to provide a contract that you signed.

Never answer a letter right away. You have 30 days, so use it. Remember, you're trying to run the clock out. If they give you anything short of a signed contract for verification of debt, answer in 3 or 4 weeks explaining that it doesn't satisfy the Fair Debt Collection Practices Act (FDCPA).

If they provide legitimate verification, then start excuses. Say that your wife signed the contract against your express wishes, so she wasn't acting on behalf of the marital community. Make up any lame excuse you want, but keep the excuses coming. I even know someone who delayed a collector for a few months by writing "deceased" on a letter and putting it back in the mail. The idea is to confound and frustrate the credit card company into giving up the effort.

Eventually the credit card company will sell your account to a junk debt buyer, so the trail to the debt verification will be broken. They won't be able to provide you with a signed contract because they don't have it. The inability to verify the debt, along with your cease communication letter, will doom the account to expire along with the statute of limitations.

*It is very important that you don't make even the smallest token payment, since that will start the statute of limitations aver again.*

I haven't dealt with Am. Ex., but I've dealt with Citibank, CapOne, and Chase. Chase is difficult. They use a collection company named Mann Bracken. Their MO is to send the account to arbitration to get a legal judgment against you using their own "bought and paid for" arbitrator (guess who always wins). The purpose is to get a judgment that has a statute of limitations of 10 years, and also gives them some teeth to lien property. While you probably already agreed to arbitration in the contract, you must be very insistive that you will not accept arbitration. You should threaten to show the letter trail to a "real" judge, or your state attorney general.

There are some books you can get on this subject. Look at Eden Press in this category.

http://www.edenpress.com/category.asp?index=2

The process seldom lasts the full term of the statute of limitations. If they don't get anything out of you in about 1 to 1 1/2 years they'll move on to softer targets.


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## Terri (May 10, 2002)

whatrset said:


> Congrats Thai!
> 
> Well, I think I am going to take my pennies and try to settle with one of my smaller cards which will make the 300 feasble on my meager income. Then, while I have the lady on the phone from Cap One, I will agree to 300 only on condition that 1) the rate is good for at least 1 year; 2) No more late fees are attached to my account; and 3) I get a written record of our agreement. If she cant meet those three conditions, then she will continue to get 100/month as a good faith payment for the next year, and we will try this again in one year unless I am harrassed about it, then she can get ZIP, ZERO, NADA


Why don't you insist that they do the $100? And, THEN, pay the $300 if you can.

The reason is, cars DO break, roofs DO leak, and they REALLY! need to follow through on their agreements!


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## thaiblue12 (Feb 14, 2007)

My issues with Capital one went on for almost 2 years. They did not give up after a year and a half even though they were in the wrong. 
I also wonder if the 3 years is valid. Seems like if they give it to a new agency they can start the clock all over again. 
If you spent it you should pay it. Not paying it is the same as shoplifting, and it raises the prices just the same. They do have to make up the money somewhere. Not flaming you, just stating my opinion 

whatrset before you talk to Capital One (who in my opinion are scum), talk to the credit counselors. If you can spend $300 a month, they can probably make you a deal for that amount per month for all the debt. They will get you a lower owed amount, lower interest rate and no more calls, letters and etc and you get all four off your back at once. 

Thanks for the congrats, feels good to win for a change


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## Nevada (Sep 9, 2004)

thaiblue12 said:


> My issues with Capital one went on for almost 2 years. They did not give up after a year and a half even though they were in the wrong.


Whether you are in the right is not relevant to a collection agent. They are trained to collect, and they hear excuses all day. You aren't going to win by using reason. Besides, the collection agent almost certainly isn't authorized to discharge the debt even if he believed you.



thaiblue12 said:


> I also wonder if the 3 years is valid.


It varies by state. Look in your state for "open accounts".

http://www.fair-debt-collection.com/SOL-by-State.html



thaiblue12 said:


> Seems like if they give it to a new agency they can start the clock all over again.


No, the statute of limitations is from the last payment. However, if they hand it to a new agency you have to send a new cease communication letter.



thaiblue12 said:


> If you spent it you should pay it. Not paying it is the same as shoplifting, and it raises the prices just the same. They do have to make up the money somewhere. Not flaming you, just stating my opinion


Okay, fair enough. But many people don't have a choice in this economy. They can't pay no matter what. Those people shouldn't have to be harassed on the phone just because they don't know the rules. All I'm doing is arming people with the same information that the collection agents have.


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## whatrset (Apr 13, 2010)

THai, I feel your pain and agree that not paying makes me less than the responsible person that I would like to think I am. I understand the ramifications on the finanial systen as a whole, and while I hated TARP, I didn't get as bale out as I am sure you didnt either.

Overall, Cap One is the only one that is trying to be a bully. The others have been very helpful and Chase even offered to settle for 50% at anytime that I can raise the funds. (Anyone have 9k in their pocket?)

I know it has taken a while to get in the debt, and I know most of it was based on stuff that I spent (Food, shelter, Clothes, Hurricane funds (RITA in '05) Travel (Son in a NICU 200 miles from home also in '05) . I swaer my financial life reads like a stinking country son, and frankly it irritates me to have this stupid tax that I need to clear.

I will plan to call for credit counseling early this next week to get things started.


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## whatrset (Apr 13, 2010)

Terri, 
Than you for reminding me to keep enough money around to cover those things. I definitely need to review the budget and make sure every dollar is put to good use. Bt that is a REAL chore on it's own as I have a hard time knowing exactly where money needs to go ahead of time. I need to get my truck fixed... You know how hard it is to homestead in a car? lol << On that note, I informed my wife that this car I currently have will likely be my last. I NEED a truck. A car will get you from point A to Point B, but a TRUCK will get you and all your crap there too. >>Just my insanity kicking in I think. lol


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## Nevada (Sep 9, 2004)

whatrset said:


> I will plan to call for credit counseling early this next week to get things started.


Most are rip-offs. If they offer advice then fine, but if they want a fee then don't do it.


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## whatrset (Apr 13, 2010)

Nevada, mind if I ask how you know all of this? I am not saying that you are wrong, I know that there are many paths that can play out in this cat and mouse game of finace, but what credentials is this arguement based on?


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## whatrset (Apr 13, 2010)

Nevada said:


> Most are rip-offs. If they offer advice then fine, but if they want a fee then don't do it.


I have no intention of contracting with any agency that will cost me. I can kill my credit score on my own thank you.


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## Nevada (Sep 9, 2004)

whatrset said:


> Nevada, mind if I ask how you know all of this? I am not saying that you are wrong, I know that there are many paths that can play out in this cat and mouse game of finace, but what credentials is this arguement based on?


No credentials. I don't do this professionally. I've read a few books, dealt with a few of my own issues, and helped a lot of friends. This particular book is a real eye opener.

http://www.edenpress.com/[email protected]@B

The author is a little heavy handed, but he really understands how to confound bill collectors. Read the whole thing, then only do what you feel comfortable doing.

The important things are to know the law, know your rights, and take care of business on time.


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## whatrset (Apr 13, 2010)

I will look into it Nevada, Trust me if it was just me, I would likely play that particular chess match. However, My wife isn't as ballsy as I am at times when if come to dealing with these people.


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## Nevada (Sep 9, 2004)

whatrset said:


> I will look into it Nevada, Trust me if it was just me, I would likely play that particular chess match. However, My wife isn't as ballsy as I am at times when if come to dealing with these people.


It won't hurt to send a cease communication demand letter and request verification of the debt.

http://www.creditcards.com/credit-card-news/assets/Sample_letter_cease_communication.txt

http://www.creditcards.com/credit-card-news/assets/Sample_Letter_Verify_Debt_request.txt

If CapOne has harassed you in any way, you need to send one of these.

http://www.creditcards.com/credit-card-news/assets/Sample_letter_stop_harassment_no_acknowledge.txt


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## Navotifarm (Dec 16, 2009)

I stumbled into this thread because I spend most of my time in the hhomesteading and real estate forums. I have not been reading and posting on ht very long but there are several persons on here who particularly impress me as to their knowledge, ability and caring. Nevada is one of them. If I were you, I wouldn't just blow off what he says because his advice is correct and it's valuable. 
However, the question was as to experience with four named credit card companies, so I will simply relate some of mine. 
First, in the '80's, I borrowed some money from General Financial (I think it was) to attend a Tony Robbins seminar in Maryland. It was so terrific, I signed up for a second seminar, put on by the same franchise (never did see Tony) which was in Virginia. These were sort of Washington, DC affairs but just over the state lines. I signed what I was told was a second contract incorporating the first. Ha ha. That was a lie! The first contract in Maryland was valid. The second one socked me for the cost of both seminars, so it was a fraudulent doubling. I paid off the second one and got a letter of release. I was assured on the phone this released me from the first one. The first one was then sold to Capital One which dunned me for years. Dragged down my credit, made me miserable, etc. I did not pay one penny on that bogus debt, so Capital One sold it to somebody else. Here it is, almost 30 years later. Every once in awile I will get a scare letter from some other sucker who bought that fictitious debt. Meanwhile, Capital One fills my mail box with generous offers and enticements. I am sure that if I ever signed up for anything with Capital One, blammo, they would sock me with whatever amount they could cook up. 
There are usury laws. If I were you, I would look them upas a citizen you supposedly have a certain amount to live on. Since you live in Louisiana, you are under French law, right? Different from the rest of the country except where Federal law overides. 
With all the people in Louisiana who lost everything, you surely are not alone with your problems. I suggest you check out all the references Nevada was good enough to give you. From my point of view, paying back what you borrowed is one thing, but paying back appalling interest, penalties and deadbeat charges is quite another. Had you considered bankruptcy?
I don't know how to move a thread, but you did have the suggestion this should be on homesteading. Could you just rephrase your question and post it there? Whatever you do, I'll add you to my prayers! Good luck to you. Don't let yourself get yanked around too much!


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## Nevada (Sep 9, 2004)

Navotifarm said:


> I stumbled into this thread because I spend most of my time in the hhomesteading and real estate forums. I have not been reading and posting on ht very long but there are several persons on here who particularly impress me as to their knowledge, ability and caring. Nevada is one of them. If I were you, I wouldn't just blow off what he says because his advice is correct and it's valuable.


That's the nicest thing anyone has said about me in months. I didn't know anyone was even paying attention.


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## whatrset (Apr 13, 2010)

Navatifarm, 
I am not just blowing Nevada off, I have actually started looking into the sites that he sent. I am truely open to any path to being done with this debt, and I am greatful for all people who care enough about their neighbor to drop a line in! 

I think I will also take up your advice and repost it to see if any new paths are shown to me. I am Not sure that I can fully take on Nevada's Stick it to 'em thru attrition due to certain in home circumstances, like my wife still being in school on borrowed money. As much as I hate to admit it, she still needs to borrow enuf to complete her last 6 months, there is NO WAY that I can pay that right now, and 3/4 of a degree is NO degree.


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## whatrset (Apr 13, 2010)

Oh, and to answer thebbankruptcy question, We have considered it, but it is definitely the least wise choice because if we were to go that route, she might have a hard time getting a job working with realtors under her new career path. In LA you cant be a realor if you have EVER declared a bankrupty. She has been thru the class and worked as one for a year. He liscense has lapsed but it is reattainable if she needed it to work in her field, which isn't unheard of as she is completing a degree in Interior Design.


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## whatrset (Apr 13, 2010)

BTW, what exact forum would this best be in?


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## Nevada (Sep 9, 2004)

whatrset said:


> Oh, and to answer thebbankruptcy question, We have considered it, but it is definitely the least wise choice because if we were to go that route, she might have a hard time getting a job working with realtors under her new career path.


The purpose of bankruptcy is to protect assets. That's not a consideration for unsecured debt, since they can't normally attach assets in the collection of unsecured debt. They would need to get a judgment to do that, but it will never come to that.


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## whatrset (Apr 13, 2010)

Nevada, the sad truth here is that I believe that your concept would work and is completely true, BUT I don't have the orbs to follow it all the way through. The financial attach on my Oh So Precious credit score doesn't scare me at all... <<< Just another number. However, I have to make sure my wife can exercise this degree that she is working hard for, and not be blocked by so buracratic BS.


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## whatrset (Apr 13, 2010)

Oh, I do thank you for the forms tho. I definitely want to restrict them to contacting me in writing only. THat may be the best thing that you have shown me!


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## Nevada (Sep 9, 2004)

whatrset said:


> The financial attach on my Oh So Precious credit score doesn't scare me at all... <<< Just another number. However, I have to make sure my wife can exercise this degree that she is working hard for, and not be blocked by so buracratic BS.


While I don't know the requirements for a real estate license in your state, what I suggest is not bankruptcy. I don't see why this would effect her eligibility. You should ask more about this in your state to be sure though.

Once you send the cease communication demand your wife won't have to deal with them. You can do it all through the mail yourself from then on. She doesn't need to be involved. It's easier than you think.

Anyway, do what you think is best.


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## whatrset (Apr 13, 2010)

"Anyway, do what you think is best."

Is there any less that I can do? I tend to have two minds, the one in my head and the one in my gut. THe one in my head says "Do the right thing, pay the bills in full b/c you owe them....regardless of the sacrifice ... yada yada yada); The one in my gut says "Save a little and Settle with them so you can sleep at night and be done with them and never look back." My gut tends to get me in less trouble. lol.


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## Nevada (Sep 9, 2004)

whatrset said:


> "Anyway, do what you think is best."
> 
> Is there any less that I can do? I tend to have two minds, the one in my head and the one in my gut. THe one in my head says "Do the right thing, pay the bills in full b/c you owe them....regardless of the sacrifice ... yada yada yada); The one in my gut says "Save a little and Settle with them so you can sleep at night and be done with them and never look back." My gut tends to get me in less trouble. lol.


If you start to pay it back, don't expect them to be nice to you.


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## whatrset (Apr 13, 2010)

I understand that too. Darnit.


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## thaiblue12 (Feb 14, 2007)

I am not saying you are not being responsible whatrset, I was just responding to the part Nevada said about not paying. 

If you skip paying that does ding your credit for 7 years. That is why I sat in court for that judgement so I can send it to all 3 reporting agencies. So quick to ding you but try to get it removed it another story. Sadly that number counts for too much nowadays. My son was turned down for a job because they did not like his credit score. That made me mad, since when does your credit count towards a job?!?!

Probably Countryside Families or the one above it can offer more advice, they have more visitors each day.



http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm


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## whatrset (Apr 13, 2010)

ty, already reposted.


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## Texasdirtdigger (Jan 17, 2010)

I have a?
Are the CCards in both your's and spouses name?
If only in your name...BK would not affect her in any way... it would discharge YOUR debt.


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