Bankruptcy Law/Debt in Collections
I have credit cards in collections, fall off dates are Fall of 2014 according to my recent credit reports. I was denied an apartment because of these collections. It was suggested to me to file bankruptcy , but I feel I should wait it out. I have been contacted sporadically over the past few years but no hard core letters or even phone calls,...
Wouldn't it make better sense to wait another year and 1/2 then to file bankruptcy? I am on SSI only ...and receive $710.00 a month,and food stamps... no extra help, cash or otherwise. From my understanding the SOL has expired on my 6 year old debts, so I can not be brought to court ? Is that correct? So what other way do they attempt to collect? The tricky way? By calling you and somehow you inadvertently acknowledge the debt and agree to a payment and the 7 years start over, is that the only way they can still collect/ They cant bring me to court after 6 years, when SOL in NH is 3 years for my type of debt. I think I have actually asked a few questions in this jumble of words, most importantly would be : Bankruptcy vs waiting for the Fall Off in 2014.
If SOL in NH is 3 years on credit cards (I'm not a NH attorney, so I do not know the SOL in that state), then basically you cannot be sued successfully. If they did sue, you would have to answer and assert the statute of limitations, however. Yes, if you made an agreement to pay and started to pay, the SOL would start over. But if you do nothing, that should be the end of it.
The "fall off dates" on your credit report has nothing to do with the ability of the creditor to collect, and it would be pointless to file a bankruptcy relative to the credit reports.
Furthermore, since you have so little income, I don't think that the creditor would get much out of you even if it received a judgment.
Even if the SOL limit had not passed, I would normally suggest that you wait until anyone tries to sue before filing a bankruptcy.