After a bout of personal problems, all of my credit card accounts have been in default for over two years. A couple have balances of 8 to 10 thousand dollars. I have been "laying low" so to speak because I don't have the money to pay. I sent cease and decist letters to all companies and they have basically stopped contacting me at all. I know that they are waiting and lurking out there, but my question is regarding new visa/mastercard offers that I am receiving in the mail. The banks are aware of my credit problems and are offering "low limit" credit cards (no deposit required) to help reestablish my credit. If I should accept one of these offers, will this provide a red flag to my overdue account collectors? Will they start coming after me all over again? Any advice is appreciated.
Any advise huh? Well I would seriously turn around and face the debt you ALREADY have instead of trying to take on more. I hope you can see that. What you don't need right now is opportunities to take on even more debt. Good Luck.
Yes, in my experience, if you accept any of these offers the rest are going to come after you. I accepted an offer from a sub prime card in 2001 and started getting a collection letter from an account in 97. Then when I checked my CR for the first time this past October, I had several new accounts showing being opened in 2001....they were CA's for 97/98 debts. Two single debts had two CA's reporting for them! My reports are a mess of inaccuracies.....a mess period! If I just hadn't accepted that offer.......... ;-) NuB
