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Everything posted by Galaxabenu6

  1. Thank you so much for this information. I'm researching everything and trying to comprehend what everything means. A little overwhelming. So, what I'm gathering is that starting an arbitration with Discover is basically a hit or miss. I may get lucky and they drop it, or I may get reamed and end up in worse shape. I'm not sure I'm at an advantage to attempt fighting them especially if I lose and end up having to pay more. I'm wondering if bankruptcy then would be the better option for me since I also have medical bills in collection as well. Might be able to tackle all debt at once. My ex-husband and I filed chapter 7 back in early 2004 but the chapter 7 laws were much different back then. I really dislike the idea of possibly filing again but it may be a fit for me at the present time. *Sigh*
  2. @LawKitty may I PM you to inquire further about this option?
  3. I don't mind settling the debt, I just can't do that right now and I know they don't care about my situation as their end game is to collect their debt, so I know making promises to pay once I get my degree and a good paying job will fall upon deaf ears. They want their money back asap and that's it. But will doing an arbitration help buy me time and then when I go to court, explain my situation to the judge in good faith? I don't know how that works. It would be great to wipe the debt away but I'd prefer to do it morally as I know it is my debt, I've just fallen on difficult times. I know there's nothing they can take from me as I have no income, the home I reside is in my boyfriends name and I have 1 financed vehicle in my name that he uses and pays for while I'm in college. So I'm not sure what they can get out of me other than a verbal promise for right now. I also have medical bills that have gone into collection which I can't do anything about either but Discover is the only creditor I'm worried about at the present moment since they're threatening judgment.
  4. Good evening, I'm so glad I found this forum and hoping I can get some insight on how to handle this legal issue. I just received a priority letter (attached) from Discover stating that if I do not contact them by April 30th, they will obtain a lawyer to collect. The $3,000 debt has incurred fees and is now sitting at $3,600. Last year prior to having no choice but to let the debt go, I had an automatic payment plan setup for $60/month which was fine for a little over a year until I had medical problems. I knew that would be out of work soon so I picked my poisons and decided to pay off my smaller debt credit cards which are now in perfect standing, and let the larger Discover card debt go. Here it is a year later and I'm unemployed but going to college full-time. I have zero income and will need to take a student loan next semester to finish paying for my degree. My question is, I've read a little bit on here about arbitration and curious what that is, how it could help and if it's a good option for me. If so, how do I begin that process? My next question is, I've read about them possibly garnishing my bank account for payment. Since I plan to take a student loan next semester (August), will they take my student loan money?? I really need to complete my degree so I can get back to work and earn income lol. Thank you in advance!
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