I am new to this forum, and have been reading and reading posts. I still have some questions and it is going to take me forever at this rate to find my answers. SO here goes.... I have debts owed to B of A, Cap one,Citi Bank, and Chevorn. Due to loss in pay I have been staying current on my Mortgage, but none of these credit cards. Some of them have been 12 months since I last paid, others 6 months. They have been turned over to collection agencies, some of them a couple of times. I don't have the money right now to pay them off or I would be. I am just now starting to get more money coming in, so will have alittle extra money each month to put towards one of them but can't do all of them. The credit company who just got the larger B of A one is telling me that they are going to go after my husband (we are seperated) all of this is just in my name and SS#. Do I need to be worried about them contacting him about this debt? (he will go nuts on me, he has no idea what is going on) Will they come after the house that is in both of our names? Any advice would be great. Thank you
Do you live in a community property state? Find that out first. If you do, your spouse can technically be held responsible if the debt was incurred during marriage and your creditor gets a judgment against you, even if they were not joint accounts. Then they could come after the house, since it would be considered community property.
Yes we live in a community property state. I just received a letter from Creditors Interchange in Buffalo, NY they are the ones who told me they were going to go after my husband. Is B of A the one who will be sueing me, or will it be the Collection Agency? IF I am able to do a settlement, would I deal with B of A directly, even though they have sent it to an Agency? Thanks
BOA likely sold the debt to Creditors Interchange, so BOA no longer owns the debt and you won't be dealing directly with them. You'll need to send a debt validation letter to the CA and keep all your communication in writing from this point forward.
There is no way to know that they sold the debt, from what is in this thread. Dumb Bob thinks she should find out who owns the various debts, keeping in mind that contacting those you owe money can "wake the sleeping beast". Since she isn't yet being sued, one possible course of action is to pile in a heap the cash that she has to deal with this and find a card that is perhaps 20% more than that amount. Then make them an offer. If she can reduce the number of cards that are a problem before her [ex]husband finds out, this probably would seem arguably a mitigating factor. Since it seems he's on the hook for this debt, however, just going on and on without informing him seems pretty unfair.
Yes I agree, it is unfair for my ex to not know about my outstanding debt. BUT I have no idea (well a little) of what debts he has. Our money was always seperate. His money, My Money. We split the Mortgage and Utilities 50/50 each month.
Bob is right, the CA might have been assigned by BOA to collect the debt; however, I said "likely" because Creditors Interchange is well-known for working with BOA and buying large portfolios of debt. Sending them a DV letter CMRR and pulling your credit reports should answer any questions you have about who now owns your debts, including this one. If you find any discrepancies, dispute them through the credit bureaus.
