I have been dealing with Household Bank. I had a credit card with them a long time ago, then out of the blue, they closed the account. I continued paying on it until I ran into all the trouble before I moved here. They have made many different offers, keeping up with my current address. They now have me on what I am told is a hardship plan. I pay $28.00 a month, but keep getting billed and notices that my account is over due. Should I have them put this in writing for me and send it to my PO Box. They have been taking the money directly out of my checking account. Also, I got a settlement letter from Montgomery Ward, saying they would settle for $251.00 on a balance of $1136.60. This dept is well over 10 years old. They have given me options to pay in installments and gave a toll free number to call. The CA is in Illinois. I know I have made some major $crew ups with my credit both past and present, but I thought that if the debt was over 7 years old it couldn't be reported and was essentially wiped clean. There are times when I feel like I am sinking into the debt hole from all my mistakes and don't see a way out, other than BK. If I were to pay each of my creditors (medical included) even 5.00 a month I wouldn't be able to pay rent or car payment or even buy food. Once again, thank you for your time and feedback. Em
Go see a bankruptcy attorney. Stop letting Household take money out of your bank account. Go to your bank and have them stop the transfers. If anyone else is doing automatic transfers from your account, stop them too.
I did call a BK attorney and was told they would need 600.00 up front. I don't have that right now. I won't have that much extra, for quite some time. Were they asking for too much? I was told to only do the BK if that were my only choice. It very well may be my only choice at this point, but I want to understand what is going to happen as far as future credit is concerned. I use to live with an attorney who told me not to file unless I had at least 90,000.00 or more. He also made a statement to the effect that some people veiw you as a better credit risk as you can't claim BK again for 7 years. On the whole he was against it though. Thanks! Em
From the sounds of your post, the debts are affecting your life in a negative way. It's not worth worrying about your debts if you can't buy food and pay other essential bills. The $90,000 comment from the attorney is just plain wrong. Bankruptcy is a tool that can help you get relief from debt that you cannot repay. The amount of the debt is irrelevant...if you cannot pay it, and it is affecting your life in a negative way (stress, creditor harassment, etc), you are a bankruptcy candidate. If you go to Amazon.com, you can find a book on how to file bankruptcy yourself. The whole process, including the book, will cost less than $300. You can do it yourself with ease. There's no need to pay an attorney all that money for something that's quite simple to accomplish.
1* Also, I got a settlement letter from Montgomery Ward, saying they would settle for $251.00 on a balance of $1136.60. This dept is well over 10 years old 2*The CA is in Illinois. 3*I thought that if the debt was over 7 years old it couldn't be reported 4*and was essentially wiped clean. emma78 =================== 1*Why would you even think of paying something this old? 2*You need to send the CA the validation at the link below. 3*So why did you let The ca change your mind? 4*Again why did you let The ca change your mind? THE END ** *** ** LB 59 SUV Drivers' Licenses http://member.compuserve.com/autos/package.jsp?name=autos/suv_license1 """""""""```~~~```'"""""""""
I guess I have a lot to learn about this board and how it works as well as dealing with past and present debt.
Re: Re: More Probs Household % Mont Wards Emma-- The Montgomery Ward debt (by the way aren't they bankrupt and out of business now?) is probably barred by the statute of limitations. You should find out before you pay a dime. As to the $90,000 threshhold for filing bankruptcy, I think the attorney's "one size fits all" reasoning is ridiculous. I used to do alot of bankruptcy work and once filed a Chapter 7 for a terminally-ill woman who was being hounded by a CA for a $1200 debt. That was the only debt she had and I felt good that she got some peace from those *******s who knew about her condition but didn't care. I was so outraged that I did the case for free and got a waiver of the filing fee.
Re: Re: Re: More Probs Household % Mont Wards NO MCCBG took the accounts and issued WAL*MART store cards...(for the GOOD accounts and continued to collect if they could for the BAD accounts)
