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Hi all,

I've been reading this site and the information is very helpful. I am still not

sure where to start considering the specifics of the situation.

I am currently trying to figure out the debt situation of my boyfriend. His

financial situation has not been good for about 3 years, he was without a

job for over 1 year, in depression for years and bad marriage for a long

time. Throughout the marriage he has given full access to his wife and has

no idea of the financial dealings that happened in his name. He also left the

marital house 3 years ago but his mail was still going there and she has

never told him anything about collection letters etc.

Bottom line we do not know if he received notices from the original creditors

or the collection agencies with the exception of 2 agencies (one of them

doesn't even appear on the credit report). The 30 days have expired for one

but that is not the case for the second one.

He now has a job, which is going to take us overseas during the next 2

months until the end of the year. He is also going through the divorce

procedures that will be done within the next month. So my first question is

this the right time to start dealing with the collection agencies or should we

wait until we come back from overseas?

The second question is where do we start considering that we don’t know if

the creditors information is accurate, he doesn’t have any records from the

last 6 years, and we do not know if any agency has previously tried to get in

touch with him.

- The type of debts are bank and retail store credit cards (From what I can

understand based on the 3 agencies credit reports)

- All account from original creditors are charge off or collection

- Some of them reappear with collection agencies on them, others don’t

- One bank is reporting 3 different credit card accounts??

- The accounts have last reported dates of 2003 and 2002 but he is sure he

has not used any credit card in 2002, He isn’t sure about 2000 and early


- When late payments history is available, I can see that most of them have

started in 2000.

- The accounts open dates under the original creditors are before 99.

- All account have individual in the responsibility field.

I am including all the details I have since I don’t know which one is actually

relevant. I read a lot about SOL but I can’t figure out the SOL from the report

since there is no last activity date field and even if there was one, How do

we verify it since we don’t have the original creditors contracts, statements

or anything like it.

Please help


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Well, I'm not a veteran at this but my situation sucks just about as much as yours (no divorce or anything but lots of student loans.) First of all, congratulations on your boyfriend's new job! I was out of work for 11 months so I know what it's like. Here's the steps that I'm taking,

1. take a deep breath. It's not as bad as you think.

2. Order all three credit reports. You can do it online, the addresses are on this site somewhere. It'll cost you about $9 each depending on what state you live in.

3. Somewhere on this site is a section on understanding your credit report. Go over your credit reports with a fine tooth comb and mark what's bad and what's good. It might even be better than you think.

4. Deal with collection agencies as they come. Send them Debt Validation letters and don't pay them until they validate the debt completely. Otherwise tell them to go away. There's instructions for debt validation on this site. If and when they validate completely, negotiate a settlement. Read the section on this site about settling your debts. Accept nothing less than removal from your credit report.

5. For any open accounts, deal with the original creditors directly. They can help you set up payments you can live with to get you current.

6. Dispute all the bad info on your credit report. Just say you have no knowledge of the account to start with. Some people do 1 dispute at a time, some do all of them at once. I'm still on my first round so I don't know what will work best for me but I did half.

7. Repeat steps 1-6 until your credit is clean.

8. Rebuild and don't repeat your mistakes of the past.

Good luck!

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Keep in mind that when the 30 days are up that essentially means nothing. You can validate an account that is 20 years old and they must respond or cease collection. If they are not bothering you now then I would wait until your come back from overseaas and finalize the divorce. Then come back here and post some info such as your state, the debts that include chargeoff date, type of debt,ect. Then we can help. Heck, maybe the SOLs are over.

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Open Acct.: 3

Written Contract: 5

Domestic Judgment: 5 renewable

Foreign Judgment: 3

You are in a tiny SOL state. Credit cards are open accounts just for your information. Look how tiny those judgement SOLS are LOL. My state has a 21 year sol that is renewable. ewwww.

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Thanks picantel and techgoddess!

I am thinking of waiting until we come back from overseas; worried that giving

an overseas address might get court procedures going and we won't be able

to attend.

There is one account that seemed to have gone through some kind of court

judgment. My boyfriend says he had to appear in court sometimes in 2000

and was suppose to be making payments that of course never happened.

Now I am worried that this might turn into some kind of garnishment... this was

for a credit card. Is this possible since there was a judgement and payment

were never made?

Thanks again.

[Edit by LG on Monday, April 21, 2003 @ 12:45 PM]

[Edit by LG on Monday, April 21, 2003 @ 02:35 PM]

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