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momof5blessings
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I've read on here for a few hours today. Between this site and the Living Like No One Else site, I've got a headache :)

Brief intro - married 22 years, mom to 5 (20, 12, 8, 6 & 5). Oldest is out on her own and we homeschool the younger 4. I'm a SAHM and run our online sales business and dh works 2.5 jobs. One is with our business, but he has a full time job somewhere else. He's the spender, I'm the nerd, but I love him like crazy.

I led a few FPU classes - some with DH, some without. I wanted gazelle intensity and he was not on the same page, so I had to give it up since it was tearing us up. We were on the debt free road when we built a house (with our own sweat and blood) then started a business to help pay for the over budget house.

We owe over 100,000 to 11 credit cards. The downhill slide started when our business (started in 2004) started going downhill fast in Oct 2005. We hung on and were current with everyone until March 2006. We had agreements with some, but we've had to drop all payments to all credit cards. In the beginning, I answered every call. Most people were nice, but I got the occasional nasty person - especially with Discovercard. We cannot pay them right now. We're finally current with all our monthly expenses and my dh is picking up some more service work to make more $$. Right now, I've done a budget and our income equals our outgo just for our monthly living expenses (plus mortgage and 1 car pmt) We're hoping to get more from the business and from his service work and start working on the huge debt we have.

Here's my question:

Is there anything I can do to get them to stop calling?? 3 have been charged off and at least two are in collections, but I think they're within the original cc agency - not a separate collection agency.

We get between 20-30 calls a day. Most are from Discover - some from Chase and a few from Citicards. We do owe the, but we don't have the money any more. We've also accumulated about 20K in late fees and interest over the last several months.

Talking to them doesn't stop the calls unless I make a promise to pay. I can't do that right now.

Is there anything I can do???

Thanks for any help. I'm sure I'll be here more often as we work on repairing our credit once we get out of this mess.

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Welcome...we'll all help if we can...

How can you get them to stop calling? You can't. But, most local phone services have a thing called "call blocker" or something of the sort. It basically doesn't let any calls through to your phone that aren't identified with a caller id, and even those that are, you're given a choice as to whether to answer or not. Cost is minimal...

Of course, if you do stop talking to them, they might take it to the next level...

With 100k in CC debt, have you thought about BK? It would probably be a chapter 13, since you do have some income, but it might be the only way out.

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If these debts are over three years old you are out of the SOL for SC.. also when they call you tell then ONCE... mail me what you have.. take the bills you do have and send them a C&D letter if they are out of SOL... or a DV letter if they are not...

also have you tried an unlisted number? its a pain but maybe worth it

also paying on these at this point may do more damage then good.. you will end up starting your SOL all over again.... in short. hang up.. stay off the phone and promise nothing...:) welcome!

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Welcome...we'll all help if we can...

How can you get them to stop calling? You can't. But, most local phone services have a thing called "call blocker" or something of the sort. It basically doesn't let any calls through to your phone that aren't identified with a caller id, and even those that are, you're given a choice as to whether to answer or not. Cost is minimal...

Of course, if you do stop talking to them, they might take it to the next level...

With 100k in CC debt, have you thought about BK? It would probably be a chapter 13, since you do have some income, but it might be the only way out.

Thanks for your reply. I was afraid that would be the answer. We have caller ID and I don't answer unless it's someone I know I want to talk to. If not, I just let the answering machine get it. It just wears on me.

We have thought of BK. I'm actually for it, but dh is not. He wants to wait and see what we can do. We also have equity in the house. Selling it is not an option for him as we built it ourselves. I also don't think we'd get as much for it since we still haven't finished it. We've lived here 3 yrs now, but still have alot undone.

If these debts are over three years old you are out of the SOL for SC.. also when they call you tell then ONCE... mail me what you have.. take the bills you do have and send them a C&D letter if they are out of SOL... or a DV letter if they are not...

also have you tried an unlisted number? its a pain but maybe worth it

also paying on these at this point may do more damage then good.. you will end up starting your SOL all over again.... in short. hang up.. stay off the phone and promise nothing... welcome!

The oldest was last paid one year ago. About half were paid within the last few months. I just pulled one of my credit reports since some of the cc's are in my name. Do I send the DV letter even if it's the original creditor? Will that restart the SOL? I was pleased to learn the SOL is 3 years and that they can't garnish his wages. We do want to pay what we owe, but it's ridiculous what they've added on. Some went from 6% to 32.5% interest after just one missed payment.

I was actually going to send everyone a letter stating that we did intend to pay when we could, but that we didn't have any money to send them at this time. I'm glad I procrastinated and didn't get that done. I won't be sending that now.

If I change my phone number, will they be able to get our new unlisted number?

Thanks for the help!

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do NOT send them an intend to pay letter.. that could restart your SOL.. you DV the person agency that has your account when you get the first dunning letter..also a DV does not restart your SOL.. you are just asking them to prove the account is yours... '

and honestly paying some of these at this point can hurt your credit even more..... you send a VD and also tell them not to contact you except by USPS

the ONLY way they can get your new number is if you give it to them... so get it changed.. give it to familly and friends with the EXPRESS condition it is NOT to be given out if they are contacted... the only way they will get it is if someone hands it over.. call the phone company tomorrow by this time tomorrow you can have a new number.. and make sure the old one says disconnected or not in service and doesnt leave your NEW number on the recording for people calling the old one

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You realy need to get DH in line with the facts.

100k @ a average of 25% interest will double this debt very fast, I understand BK is not a good thing , but it will get you releif fast, and it will stop the hemorage of your funds.

You will be able to keep your house and car under chpt 13 , you will not lose anything but your CC's and that is not a bad thing.

Who knows, you just might find that you can finish your house with the savings a BK 13 will bring.

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Since most of the accounts are with the OC, it seems redundant sending a DV. However, I am new to all this so I'm very ignorant. I haven't received a letter from any one yet. Only calls from numbers that I google and can see they're a collection agency for one of my debts. I'll talk with DH about getting our number changed. I've never even brought that up with him.

Right now, he doesn't want to think BK because he thinks he can pull us out of this. Me thinks he's a dreamer :mrgreen: He's adding some service work that can "potentionally" bring in 500-1000 a weekend. He's had a few jobs so far and the "potential" is there, but I can't agree to a settlement with anyone on "potential"

If I can convince him to speak to a BK lawyer, how would we go about finding one? I don't really want to just open the yellow pages. I used to work in the State Attorney's Office in FL and I know how varied lawyers can be.

Thanks for the help, I'm going to sleep now since I don't think I can read anymore. This site has been very informative. I had really given up on us having good credit ever again. Now I have hope. I know it will take time, but I'm actually encouraged to see some with cc balances like ours.

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One thing you need to take into consideration is that if any of your CC debt is "business related", you are NOT covered by the FDCPA.

If the cards were opened in the name of the business, and the business is incorporated, and you DID NOT personally gurantee the accounts...then you could BK the business and it would not affect you personally.

On the other hand, if the business is not incorporated, or you did personally gurantee the accounts, then they'll come after you personally...and, like I said, if the CC even think they were used for business purposes, the FDCPA doesn't apply. What that means is that the DV process is pretty much useless...although we did have some success scaring away some CAs by claiming that once they put a business debt on our personal CRs, it did become subject to the FDCPA (I'm not sure that would stand up in court, but the CAs weren't either, so they left us alone).

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These 30% (or even higher) default rates are insane. You can get a better rate from the mob.

Amen to that.. I have had more then a few I couldnt settle.. because the rates and fees were so out of whack with reality that is wasn't possible.. what gets me these are NOT the OC.. but JDB, or CA who has NO investment except the 14 cents they paid for the debt.. . no wonder they are billion dollar companies its pure profit.

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Alot of it was business debt, but I would have to research into it to find out just how much. We did not incorporate and only 1 cc is in the business name. BOA for about 3k, one of our smallest debts.

What's going to happen if we just ignore these until we have the money? It could be soon, or it could be in a few years. It all depends on how the business and the service work turn out. For awhile, we were making alot of money in the business. Then we made some poor purchasing decisions and the economy went south and folks quit buying what we sell.

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Alot of it was business debt, but I would have to research into it to find out just how much. We did not incorporate and only 1 cc is in the business name. BOA for about 3k, one of our smallest debts.

I'm pretty sure that if any of the CC see anything in their charge records that would be related to the business, they'd claim that the entire balance was business. I would suggest, however, that you start out with the attitude that none of it was...let them try to prove otherwise. (Except, of course for the BOA account).

What's going to happen if we just ignore these until we have the money? It could be soon, or it could be in a few years.

They're not going to let you ignore them. First the OCs will be calling, then after a couple of months, the CAs will start. If neither of them get any money, then in 3-9 months, the lawyers will start.

If you haven't got money to pay them, and you won't look at BK, then read up on the debt validation (DV) process. It won't put them off forever, but it will buy you some time...maybe a year, if you're lucky...but eventually, you'll either have to pay them in full, settle for a lesser amount, or do a BK. Any of those 3 things will destroy your credit.

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The easiest way to stop the calls is to contact each creditor and ask for the FAX number for their internal collections or other office who oversees the calls. Then FAX them a letter asking them not to call anymore. It will sometimes take 24 hours minimum for the calls to stop. Even though the debts may be business related, as mentioned, thus, no liability under the FDCPA, all creditors are to honor the request of no calling.

Also, do realize that many creditors today use the random dialer. Then, when you answer, the next rep in line will answer and begin the usual BS. Plus, the rep may be from another country, such as with Chase, who uses this system. We got a call last year when we were 15 days late on our payment (thanks to our home flood), and when I asked, the rep said they lived in Panama. With Citimortgage you will speak to someone in India.

In your case, I would recommend you contact a BK attorney to get things started. As I understand the new BK laws, you must sign with a counselor for a period of at least 6 months before you can continue with your BK. Any others who know of something else, please jump in here. Basically what I'm saying is if you get things rolling, and the creditors have someone to work with, it may stop negative reporting of late and/or delinquents payments to your CR's. I say this also as when reading your posts, it appears your DH is hoping to see things change in the near future. This is all well and good, but, why screw up your credit more than is necessary. Do realize, by signing with a counselor, you are not obligated to continue with a BK if your status changes, such as what your DH is hoping for.

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If I ask them to stop the calls with a fax, will that speed up their suing us?

I definitely know it's the random dialer. I hated when I would answer and there would be a pause and then hear "hello....hello...." What's worse is when it would be a recorded message asking me to hold for a very important call. I hung up on that one every time.

You make a good point about getting the ball rolling. I read that part of your reply to my DH when we were on the phone earlier. He thinks it's still premature, but said he'll think about it.

Thanks for your input. I really appreciate it. I was so unsure about what we were able to do or not do.

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If I ask them to stop the calls with a fax, will that speed up their suing us?

Maybe...basically, you'd be giving them little other choice. And, as business creditors, they really don't have to stop calling. You might be able to put in a complaint with your local phone company about harasment...but, again, you'd be pushing the lawsuit thing.

IMHO, unless you've got money to work with...I'd suggest the call blocker thing. Their autodialer will keep dialing away, but the phone company will intercept the calls...you won't even here the phone ring. Of course, that won't work forever, but it will buy you another 3-4 months.

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I'll look into the call blocker. I have caller ID and I don't answer, but it really wears on me.

DH isn't crazy about changing our phone number and if we do and they can't call, it may also speed up their suing. We really need some time to sort things out.

Thanks for the help!

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A creditor of any type is to stop all calls when they are in receipt of a written notice to do so, even if you simply say it is inconvient. Remember, they do not want to get busted for harassment. Also, as I forgot to add in my other post, in your request you make it clear you are not severing all communication, you only want the calls to stop, and they may continue contacting you by US Mail.

As to speeding up their filing a suit, stop and think that they just might anyway since you do not answer their calls. In my research, I found that communicating keeps the suit at bay until all other avenues are gone, in most cases. Therefore, by your setting the parameters for communication, they should respect this and want to cooperate. They want to make money, not lose it.

To also assure them you want to resove this amicably, include in your letter of your intent, such as saying that right now you can only do this, and as soon as things change, you will remit more, or whatever fits the situation.

I still say you need to contact a BK attorney and get this started to stop all activity and give you a chance to catch up and get things handled. Most BK attorneys do not charge for the initial consultation.

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