I AM IN DEBT AND HAVE CREDITORS AND LAW FIRMS CALLING AND SENDING LETTER. WHAT IS THE BEST WAY TO HANDLE THIS?

I am in debt as well as do not unequivocally have any money. What would occur if we do not reply to this or what is a most appropriate approach to try as well as get out of this situation?

Related posts:

  1. CAN I SEND A CEASE AND DESIST LETTER TO A LAW FIRM DEBT COLLECTOR?
  2. HELP!! GOT IN A CAR ACCIDENT, SENDING BILLS TO LAWYER BUT GOT A LETTER FROM COLLECTIONS TODAY??
  3. CAN A LAW FIRM WHO IS COLLECTING A DEBT CALL AND INDICATE IT’S PERTAINING TO SOCIAL SECURITY FRAUD?
  4. DOES ANYONE KNOW A GOOD DEBT RESOLUTION LAW FIRM IN THE SAN FRANCISCO AREA?
  5. CAN A LAW FIRM ASK FOR BANK ACCOUNT INFORMATION FOR NON PAYMENT OF DEBT?

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4 Comments

  1. Anthony C
    Posted September 6, 2010 at 12:59 pm | Permalink

    If you owe the debt, you can’t get out of it, short of filing for bankruptcy. However, bankruptcy has gotten much more difficult in wake of new federal legislation. Go to a credit counseling agency (not a credit repair agency!!) and see if they can help you work through this.

  2. ggirlgail89
    Posted September 6, 2010 at 1:41 pm | Permalink

    This happened to my husband with a college debt he owed. He had a lawyer call and scare him one day. The best thing to do is to set up payment arrangements. We pay fifty dollars a month. A lot of times creditors will lie and say that they have a minimum that you must pay and can’t accept less. The truth is that they must accept anything that you send them. If you cant do payment arrangements, send them what you can each month. They are going to stay on your tail though until you start paying on a regular basis. The only way out without paying is chapter 13 and that is for the most desparate situations because it will take a while for you credit to recover. Go and see a credit counselor for advice. Also, each year when you get your taxes, if you get a good amount back I would put that towards your debt. Me and my husband did it and it helped out a lot with our credit.

  3. Adam B
    Posted September 6, 2010 at 1:56 pm | Permalink

    Well it all depends on if you want to save your credit. Chances are if you’re already getting calls from lawyers, your credit is tanked. When I was in my early 20’s (2001) I had decent credit, and had 7 credit cards, 2 loans, and a car payment. I got divorced and lost my job in the same year. By 2003 6 credit card accounts were maxed out/closed/charged off/and I had lawyers and collection agencies coming after me. I did pay off one loan, but defaultedon the other, and they sued me. So now I have a judgement on my credit report. And they repoed my car, which also spurred the calls from collection agencies.
    Most of the time, letters that I got from lawyers were just a collection tactic. Take it from me-I recieved letters from lawyers on at least 5 of those acocunts, and nothing happened, except the collection showed up on my credit report. The time I got sued by the loan company-they just flat out served me papers. Most of the letters you’re getting are probably the same one’s I got—-Yes they are from “The Office of….” and it look’s very official, but it’s just a scare tactic.
    Ask these lawyers to do this: Demand that they send itimized billing of each charge they’re going after-down to the date and time it occoured, and what it was for. Say that if you don’t get a complete list itimized down to the penny you won’t pay. 90% of the time this will get rid of the “lawyer” for good. And these “lawyers” can’t put anything on your credit report. beieve me-personal experience.

  4. reneem1954_2000
    Posted September 6, 2010 at 2:38 pm | Permalink

    I just called our lawyer and he advised not to. He has taken on two cases this week were the credit card companies refused to accept the money and sent the people to bankruptcy court anyway. I almost got caught in one. If you do get in one, check them out with BBB.
    http://www.bbb.org/
    He said they may work if you have small debt like 3000 and under.
    A lawyer doesnt cost as much as you think. many will let you make payments too. Check around.