75K_CCdebt Posted November 2, 2008 Report Share Posted November 2, 2008 We have stopped making payments on our 4 credit cards and the calls have begun,we are making a plan in this time.Is there any do's or dont's we should be advised of before we can make a payment settlement with the companies that are calling?Ive just been saying we are broke and and cant pay the cards right now and I'll be getting back to them.thank you Link to comment Share on other sites More sharing options...
75K_CCdebt Posted November 2, 2008 Author Report Share Posted November 2, 2008 BTW, we closed the card accounts 3 months ago.Any and all suggestions will help,I have lots to learn as this is gonna be a long process. Link to comment Share on other sites More sharing options...
red1gtrubodsm Posted November 3, 2008 Report Share Posted November 3, 2008 Are these 4 accounts still with the OC? I would try to work something out with the OC before it goes to a CA or JDB Link to comment Share on other sites More sharing options...
legal_loansharking Posted November 3, 2008 Report Share Posted November 3, 2008 I guess it depends on what you are tying to accomplish and what your situation really is, we do not need to know your situation, but there are some options1)File for bankruptcy.2) If you cannot afford to pay anything for the forseeable future, stop paying and walk away from the debts, let them charge off. Once you make a payment you reset the statute of limitations. 3) If option 2 is used, buy a small casette recorder and blank tapes to record the messages left by the collectors. Collectors, especially JDB's will leave messages using illegal tactics to try to get you to pay. Read up on what they can and cannot say. Make sure the voice mail date and time is accurate, you will need to also have the date and time on the recordings for court if necessary. NEVER ANSWER A COLLECTION CALL.....First off, you are not prepared for an off the cuff call. Nobody really is. The feel as though they have power over you and will say things and say they can do things which they legally cannot to try to force a payment out of you. NEVER GIVE THEM BANK ACCT INFO or DEBT CARD INFOLet them leave a message. If you want to talk to them, you call them when you are ready for it. You control the situation. If they start their nonsense, hang up, you do not have to say goodbye or anything like that. Just hang up. You called them, you are in control of this conversation.You can use a cease communication letter to get them to stop calling. I didn't use this, I let them hang themselves in voice mail messages in the event I had to use it against them via countersuit against them if they sued me for the debt.THERE IS NO JAIL FOR PEOPLE WHO CANNOT PAY THIER BILLSThey will lead you to believe you can be arrested, they will repo your tv all kinds of tactics, its all BS.All of the info above is my opinion. Not to be construed as legal advice, if you really need legal advice, seek the help of a lawyer. Link to comment Share on other sites More sharing options...
Recommended Posts