Debt collection - almost 4 years
As I understand it, the statue of limitations in Texas is 4 years for credit card debt. I charged off a credit card in July 1999, and was contacted today by an attorney for payment. I was not given an option to make payment arrangements, only to pay in full today. The attorney told me I would be contacted in writing by an attorney in my area.
At this point what are my options? I own nothing and can not pay in full. I am willing to make payment arrangements if offered. Also, since we live paycheck to paycheck (literally), can they garnish the few dollars we have in our checking account? If so, do they have to notify us of this in advance?