Should I wait for creditor to send to a collection agency ?

[head2toedebt]

I have many Credit Cards in default I sent dispute letters and have not received a response back. They are not with a Collection agency yet.

I have pulled my Credit Report none are reported correctly that they have been disputed.

Anyone have advice on what to do next.

Should I just wait until they send them to a collection agency?

[willingtocope]

If you've got some money to worik with...you might sit down and work out a budget. Figure how much you need for food, shelter, transportation...and then decidee how much is left. Divide that up among your creditors. Call them up...ask for the "hardship department". And see what you can work out. Don't agree to anything over the phone until you've had a chance to talk with them all...and you're sure you understand what you're agreeing to.

If you don't have money to work with...or if the creditors want more than you can give them...then bankruptcy is your next option. If you're working, it would probably be a BK 13...but at least it would start you moving in the right direction.

[someonesomewhere]

I have many Credit Cards in default I sent dispute letters and have not received a response back. They are not with a Collection agency yet.

From the call you received at work, it does sound like at least one is with a CA even if it has not yet been reported as such. Do you have Caller ID on your phone at work? If so, do you still have, or can you get, the phone number of the caller?

Here are a few ways to reverse lookup a phone number and find out the name of the business.

http://search.bbb.org/

http://www.google.com (just plug in the number)

http://www.freeality.com/finde.htm

If it is a CA, then DV it.

I have pulled my Credit Report none are reported correctly that they have been disputed.

Reported as disputed isn't going to help you, and even if it did it will not remain in disputed status forever.

Anyone have advice on what to do next.

Are there any you think you might be able to make payment arrangements to bring them current with the OC? If so, call the OC. If it has not yet gone to collection, then it's better to keep it outta collection if you can.

If not, then yes, wait for the cards and letters from the CAs. DV 'em when they come.

[head2toedebt]

willingtocope If you've got some money to worik with...you might sit down and work out a budget. Figure how much you need for food, shelter, transportation...and then decidee how much is left. Divide that up among your creditors. Call them up...ask for the "hardship department". And see what you can work out. Don't agree to anything over the phone until you've had a chance to talk with them all...and you're sure you understand what you're agreeing to.

If you don't have money to work with...or if the creditors want more than you can give them...then bankruptcy is your next option. If you're working, it would probably be a BK 13...but at least it would start you moving in the right direction.

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I'm about 30k in credit cards i was told you cant put credit cards in a bankruptcy.

I was told this law changed about 2 years ago.

How do i find out ?

[someonesomewhere]

Start reading here.

http://www.creditinfocenter.com/bankruptcy/

[willingtocope]

I'm about 30k in credit cards i was told you cant put credit cards in a bankruptcy.

I was told this law changed about 2 years ago.

How do i find out ?

Not true...was it a debt collector who told you that?

Yes...the law did change. There is now a "means test" that determines whether you would qualify for a BK 7 or BK 13. While a BK 7 would wipe out all your debts (CC's included), a BK 13 says you will pay your creditors back just maybe not 100% of what the want.

If you file a BK 13, you, your lawyers, and the courts work out a payment plan...its tough, but it is possible.

To find out what you quailfiy for, talk to some lawyers in your area. Most will give you a free consultation to help you decide what to do...