they can actually collect more than the original amount. once the ca owns the debt they can add on interest and costs incurred to collect the debt. i could be wrong about this. it's funny how all of the stuff one does in their reckless youth comes back to haunt you. just because you want to forget about something doesn't mean that it'll forget you. i've been where you are. and thankfully i was able to get out of the dark. and the sooner you're able to settle your debts the sooner you'll be able to get into the light. otherwise they are going to hang over you like an albatross. i don't mean to sound harsh or mean to sound like i'm crucifying you. but here's my advice. take it or leave it. i would not apply for anymore credit until you pay your debt. adding new debt before you repay your outstanding ones does not seem like the smartest thing to do. but that's just my opinion.
And it is a very good opinion too. In fact, adding new debt before reaching a final settlement on the old debts makes little sense at all unless that old debt is very old indeed. Furthermore one should be as certain as possible that the circumstances surrounding the old indebtedness isn't likely to recur because if it does then it is likely that the new credit will also be ruined sooner or later. Just getting rid of the old debt isn't enough. You also need to have the income to sustain that new debt because if you have not cured the income problems then it is likely to trip you up again.
Where can I find out if Asset Acceptance is licensed to collect in NJ - is there a web address where I can find out if a CA is licensed in NJ?
