I have an old credit card acct purchased by NCO. It has basically doubled in the amount owed at a 29% interest clip. Is this legal? I have been getting letters about every 2 months from them offering to settle etc. I just got a letter telling me that they plan on passing it on to a lawyer in my jurisdiction who will possibly sue. I know the game, as I have been sued before. The issue is I am getting married soon. My question is this, when you get married do the debts remain yours since they were incurred before you married or can they go after your spouse also? I am about 70k in the hole , have no stable income and would like to clear this up. I have about 3k (which is about 25%) to clear it up. Another question. Has anyone ever called up a BK attorney and paid them to act as a negotiator on my behalf seeing if he can get the CA to accept a small settlement amount. I have no fear in being sued for my sake since once you get to court and they see you have showed up they will take the hint and settle. But I do not want the future spouse to be tortured with this. I know this is long winded but any help would be appreciated. Thanks.
If the debt was created before you were married they can not go after the future spouse. Pay the settlement.
Very good to know as now I dont have to worry about settling before I get married. I will settle at some point, is it legal though for these collection agencies to tack on 29% interest rates.
They are allowed to charge whatever the original contract allowed for the default rate, and it will continue to accrue until paid.
