I had a car repoed in September, 2002. On my credit report it said charge off. A law office bought my debt. Now they have increased the amount from 8,000 to 21,000. I have paid almost two thousand dollars and the amount has only gone up. What can I do?
Answer by Liddel
You owe the money. I'm sure they would settle for the original balance. See if you can come up with it.
Decisions have consequences. You buying a car you couldn't afford got you to this point. Pay your debt.
lp
Answer by RedMan
let them have it, and get a new car, or talk to your finance company and work something out
Answer by jjt
until i see more info, can't really comment on this,
Answer by rickinnocal
"What can I do?"
Pay it.
Try to negotiate a reduced amount for a quick payment.
That's it.
Richard
Answer by LadyCatherine
TELL them that you will ONLY pay the original amount and if they don't accept that, then you will STOP paying them at all.. those are finance and late fee's.
do you have enough to pay the original balance off,? call them and tell that you will pay that amount if and only if they write off the rest..
remember YOU are in charge, NOT them..
Answer by Toodeemo
Car deficiency debt is subject to relevant statute of limitations. I don't know what state is involved, but USUALLY the statute is 4-6 years. What that means is if you have not made a payment on this account for over that time, they can not sue you for it. If you did make a payment, you started a new statute of limitation. For example, if the statute is four years, and you made a payment two years ago, they can sue you for two more years.
Now if they have already sued you and they have a judgment, there is a different statute that applies. Typically, it's ten years from the date of judgment. If they do not collect during that time, they have to refile a lien or abstract of judgment for another ten years. Typically that does not happen.
As far as other issues, write a "Cease and Desist" letter to the law firm. They MUST stop contacting you when you do this. It's a simple letter that says "According to the Fair Debt Collections Practices Act (FDCPA) you are hereby on notice that you may not contact me with respect to (identify the debt) either by phone or by mail."
The law prohibits them from contacting you again. They MAY send you a letter to tell you they are going to take an action of some sort, but they may not call and harrass you in any way.
The second issue is your credit report. The bad debt must be removed from your credit report seven years after the date of the ORIGINAL DELINQUENCY. That means if they repod the car eight years ago, and the account went delinquent nine years ago, this can NOT be on your credit report.
A judgment can stay on your report as long as ten years.
So in short, tell the law office to F(** Off. And do NOT make any payments unless it is to your advantage to. Settle for less than balance, get an agreement from them to clear your credit. If you can't do that, tell them to pound sand.
EDIT: I'm with you Citicop!!!
Answer by Citicop
A bad debt will show up on your credit report for only seven years.
Unfortunately, every time you make a payment, you reset the clock. I don't know if it's too late to dispute the debt or not, but I would start there. The odds that the company has any original documents to prove you owe any money are slim, and if they can't produce them, they have to go away.
I hate debt collectors.
Answer by professorcactus
Hi crystal. Start saving all their letters and buy a plastic organizer....
why would they have raised it from 8000 to 21000?
If it was in 2002 7 years passed already and it should just clear from your credit report.
Get a new copy of all your 3 credit reports... it will cost you 45 dollars or get one of those 3 scores monitoring services for 79 a year and double check it often.
Go to the court where the judgement is and request a copy of it.
Find out in your credit report until when will this debt show in your credit report.
Ask for an investigation from the credit report Regarding that account.
DISPUTE IT BASED ON THE AMOUNT OF TIME THAT HAS PASSED. wait the next year or two and it should be removed legally. DO not pay it. that will be worse than not paying it at this time.
email me
it may take a while but it should be removed. Dont make payments to that law firm.
Too much time has passed. Just manage all your letters and their letters and if you send them something. Have it done via CERTIFIED MAIL.
Do not ever give anyone bank info or account payments by phone.... all these companies are rip offs.
You can write this law firm and ask them to show you proof that you owe that. ALL In writing..
professorcactus at yahoo is my email
Update me and email me. I am also going thru something similar.
Take care
Answer by Stonefox
File bankruptcy?
What do you think? Answer below!
Orignal From: How can I get an old car repo to go away and have the law office leave me ALONE!?
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