Jump to content

validating debts previously paid on


Recommended Posts

I searched and could not find an answer.

My situation is thus:

I was in a debt management program on a 4 year plan. I made it through 2.5 years when I took a cut in pay and increase in expenses so I dropped the program as I no longer can afford to pay off these bills.

Would I send a VOD letter to my remaining creditors or is it pointless as I have been paying them for the last 2.5 years?

I am not sure how to proceed as I no longer have the cash flow to pay them. I am sort of hoping they will be happy with what they have (they all seem to be junk debt collectors) and go away.

Link to comment
Share on other sites

By getting a 3rd party involved, you gave up your rights to DV under the FDCPA. At this point, I'd suggest you research your crredit reports to find out who really owns the debts...if they're all JDBs, they may just go away, but don't count on it.

Have you thought about BK?

Even though we are no longer involved with the debt management program?

We talked with an attorney about BK. Two attorneys. One said it was not worth it, just ignore them and let them get judgements. He did not think they would get judgements. The other wanted to file, but when we looked at what we would end up paying back, it was almost 100%. And some of the bills were padded by huge interest and fees.

Link to comment
Share on other sites

If you were to end up in a BK13, you can always offer your unsecured creditors 0%...just a thought.

My wife and I went from 20 creditors to 4 in the debt management program. Now we can no longer afford to pay the last 4, and we were so close.

Link to comment
Share on other sites

Even though we are no longer involved with the debt management program?
I'm not certain, but guess is it carries over.

On the other hand, once you stop paying, they'll probably send you dunning letters...and you can DV those as though it was "first communication". If it goes to court, they may try to use the 3rd party against you, but if the debts are now owned by JDBs, you can probably fight them off.

Link to comment
Share on other sites

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.