Comments on: Congratulations, Your Account is in Collections! http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/ For the Up To Date News Fri, 20 Nov 2009 15:08:53 -0700 http://wordpress.org/?v=abc hourly 1 By: Ian http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/comment-page-2/#comment-2899 Ian Wed, 30 Sep 2009 00:06:42 +0000 http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/#comment-2899 Hello all, A year ago I was flying high, my investments were paying the rent, and I used my 6 credit cards until the rates doubled, then I lost my nest egg (Lehman Bros. + other unlucky stocks) Now I've got $50K in credit card debt and am starting to get the calls threatening to go to collections. I work for my Father's small business, and have to move into that shop now to live since I have run out of cash. My income there barely pays my portion of the rent. I have no real assets other than a rusty Fiat and a camera. Should I file Bankruptcy or just let it go to collections/judgement? I cannot make the minimum payments anymore. Feeling very worried and stupid right now. Thanks to anyone that can offer advice.... Hello all, A year ago I was flying high, my investments were paying the rent, and I used my 6 credit cards until the rates doubled, then I lost my nest egg (Lehman Bros. + other unlucky stocks) Now I’ve got $50K in credit card debt and am starting to get the calls threatening to go to collections. I work for my Father’s small business, and have to move into that shop now to live since I have run out of cash. My income there barely pays my portion of the rent. I have no real assets other than a rusty Fiat and a camera. Should I file Bankruptcy or just let it go to collections/judgement? I cannot make the minimum payments anymore. Feeling very worried and stupid right now. Thanks to anyone that can offer advice….

]]> By: Wendy http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/comment-page-2/#comment-2710 Wendy Tue, 08 Sep 2009 01:02:36 +0000 http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/#comment-2710 When is the best time to request a documentation & validation of a credit card debt? Is it by phone with the collection agency or better to get a letter from them first? Thank you. When is the best time to request a documentation & validation of a credit card debt? Is it by phone with the collection agency or better to get a letter from them first? Thank you.

]]> By: Tony http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/comment-page-2/#comment-2408 Tony Tue, 04 Aug 2009 18:25:28 +0000 http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/#comment-2408 Credit card companies don"t "decide" to charge off the debt because of non-payment. They have too charge it off, due to federal laws that are in place to protect consumers. Credit card companies don”t “decide” to charge off the debt because of non-payment.

They have too charge it off, due to federal laws that are in place to protect consumers.

]]> By: Kristy http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/comment-page-2/#comment-2394 Kristy Mon, 03 Aug 2009 13:58:30 +0000 http://www.creditinfocenter.com/wordpress/2008/07/29/congratulations-your-account-is-in-collections/#comment-2394 Stepha, thanks for the kind words. Unfortunately, the only remedy is to take them to court. Stepha, thanks for the kind words. Unfortunately, the only remedy is to take them to court.

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