2 year old debt
Like most college kids, I got signed up for a shiny new credit card when i turned 18. I ended up maxing it ($1,000) due to some financial issues, but I was good about always making my payments, and throwing money at it when I had some extra. I didn't make much progress, but I kept it under limit, by a few dollars at least.
About a year and a half after opening the card, I lost my job, couldn't pay, and b/c I was freaked out, never answered my phone when the credit card people called. Now, (two years later), I get a call from my Dad to let me know he has two fat envelopes from lawyers, and the sheriff just came by with a summons.
So what can i expect? Dad's agreed to help me pay it back. Obviously my credit is shot, but will I have to go to jail or have a criminal record of any kind?
1 Answer from Attorneys
Re: 2 year old debt
Depends on how much total balance is, might be worth having me make a call. I often get 40-80 % written off with a lump sum payment proposal. You won;t go to jail. This is purely civil, and they are used to hearing about bankruptcy, fraud, and ID theft. Having a live customer offer cash to settle is a breath of fresh air for them.
Related Questions & Answers
Bill collectors About a year ago I took out a pay day loan on line. I was getting... Asked 5/08/07, 9:26 am in United States Nebraska Credit, Debt and Collections Law
Friendly Fraud My roommate took out a credit card in his dads name and charged... Asked 4/28/07, 1:10 pm in United States Nebraska Credit, Debt and Collections Law
Summons past the statute of limitations in Nebraska I received a summons that I am... Asked 3/22/07, 8:35 pm in United States Nebraska Credit, Debt and Collections Law
Garnishment, collections, seize personal property In Nebraska, what personal... Asked 3/07/07, 7:31 pm in United States Nebraska Credit, Debt and Collections Law
Loan payments If a loan was made in 1990 and has not had a payment is there any... Asked 3/01/07, 1:19 pm in United States Nebraska Credit, Debt and Collections Law