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I have an old debt - 6-7 years old, I never paid on it that I can recall. Daniel N. Gordon, P.C. office is now contacting me about this debt. Started with Care credit (medical bill) then to Midland Then GE Money, now Daniel N. Gordon, P.C. . Before I started reading all about debt and how best to manage and educate myself, I made a payment to them on this old debt, starting to wonder if that was a bad idea. Now I am not sure how to handle it as I made payment arrangements. The debt is 3 times what it was when i first obtained it and I have read this office like to sue a lot. 1. I do not know how to tell how old the account is (not the date it was opened but what date do I go by for the SOL? 2. Should I continue to make payment arrangements and payments? 3. Is it worth settling on? 4. Can I get it removed from credit if it was opened 7 years ago? 5. Can and will they sue me for this bill? Balance is now almost 4,000; original bil was for 1100 ish Love any tips, info or advice~
Okay, I've been slowing getting my personal credit together and I have a few of curious ones. 1) I have a rather large judgmeent for $9000 (with interest its probably almost 12000 now) that I got in 2011. I do owe it and all the service and everything was proper. I set up a payment plan for $200/month that's documented on the docket with the courts that both the attorney and myself agreed to it. I can comfortably pay the payment plan but with the size of the judgement and the interest on the judgement, it would take me almost 15 years to pay it back and I would pay $16,000 in interest alone!! I don't want that, I'd like to buy a house in a couple years. I don't have enough to pay off the entire balance but I could probably pay around $5000 in a lump sum. I should clarify that this debt is out of my current state of residence and they are unaware of my employment or bank accounts (not sure that matters?). My question for this one is would they have any incentive to take a settlement of less than is owed at this point? Should I even pursue a settlement? My take is I figure since I'm abiding by the payment terms anyway, I can't really lose. Any thoughts? 2) I have another judgement (I only have 2, I swear lol) This one is smaller and older. Only $1000 and granted in 2007 from Capital One and it was done properly. Also out of my current state and unaware of my employment and bank accounts. With interest this one is probably around $1300, which I could probably handle. I don't have a payment argeement with them but I wanted to try and settle for around $600. I'm not sure if that's enough but they havent been able to collect for almost 6 years so maybe, right? Again, any thoughts on likelihood of them to accept a settlement? How should I approach them about a settlement? Call? Write? 3) This one makes me angry. I have a collection account on my credit reports from some CA. They do not own the debt and its collecting on behalf of an apartment complex. It's from 2007 and apparently from an apartment complex I used to stay in. I did stay in the aparatment complex but when I left, I didn't owe anything as far as I know and never got any paperwork for past due owed. It's for about $4000. By the credit report dates, it will drop off my report next year in August. By the state SOL, it will be past the SOL in August of this year. Also out of my current state, unaware of employer/bank accounts...for now I guess. I called the CA and asked them to send me some verification of the debt. Or some documentation that I owed it. They said they did send out info in 2007 (to some address I didn't recognize) and they would not send out anymore paperwork to validate the debt. WTH? Well, Im not paying a debt they won't even send any documentation for. So how do I proceed with this one? Just let it roll off in 2007? If they decide to sue in these last few months they are able, will they have to sue me in my current state or will I have to travel all the way back to the state the apartment complex was in? And will they have to find me first? Maybe I'm worrying too much about it but my plan was to let the SOL pass and then contact the CRA and see if I can get it removed. Also they told me a payment was made on the account in 2009, I didn't make it, does that matter? I've heard it can reset the SOL? Thoughts? Any feedback or comments are appreciated. Also would like to hear from anyone who has ever settled a judgment for less than is owed. What did you settle for (percentage) and what were circumstances (old debt, garnishing wages, etc.), get it in writing?