You are here:
- Home
- Business
- Corporate Law
- Collections Law
- Judgement against credit
Collections Law/Judgement against credit
Advertisement
Question
I have a question about what to do regarding a judgement obtained against my credit in late 2006, due to a defaulted credit card. I did not go to court (I had a small infant at the time and probably could have got an extension, but I didn't- stupid, I know). The judgement is for $3500 owed to Discover card, originally about a $1500 debt that attained interest, late fees, etc. The original debt was in 2000-2001, when I was very young, in college. I moved out of the country for some time and have just returned- I have no assets at this time, 2 young children, living with my parents and my husband is not in the country. The lawyers office calls and leaves a (usually automated) message daily but I haven't spoken to them because I don't know what to do/say. Honestly, with what little money I do have I would like to do my best to pay this off, so that I can otherwise get on my feet. My question is, how do I handle this? Will the creditor settle for less? How would I negotiate that? Am I better off saving up and offering them a lump sum or arranging payments?
Please help- any advice would be much appreciated. I hate that I am in this situation and really think there should be more laws concerning giving young people credit.
Shannon,
It sounds like your in a little over your head. Your doing the best you can do with 2 small children. I commend you!
Contact me so we can speak about this current situation. We'll go over the details privately.
Michael Moore
Sr. Arbitrator
Ontrack Financial Group
Mike.Moore@ONTFG.com
Related Articles
- Why Advertising Is So Effective - Addiction and Recovery
- Should Teens and College Students Have Credit Cards - Staying Out of Debt
- Credit CARD Act - Limits on Credit Cards for Young Adults
- Bank of America Student Platinum Plus Visa Card Credit Card Review - Student Credit Card Reviews
- Travel Reward Credit Cards - Credit Card Questions to Ask
Answers by Expert:
Ontrack Financial Group llc
Expertise
With the credit market on a brink of collapse, the future of having good credit will be paramount. Loans will be near impossible to obtain with strict lending practices around the corner. Debt collectors and Law offices will use even stronger tactics to recover more of your hard earned money. Protecting you and your credit has to be a top priority. In 2000 Ontrack Financial Group llc founded the credit arbitration movement. More and more companies entered into the arena and new business models joined old ones. Only one company has the attitude and aptitude to truly assist our clients. Ontrack Financial Group llc is that company! With our proven credit arbitration solution, you can become Charged Off Debt free within three years or less. Our clients have eliminated their Charged Off Debts with our service and avoided communication with collection agencies and law offices in the process. Since the inception of Ontrack Financial Group™, we have continued assisting our nation-wide clientele with their burdensome unsecured debt and has enrolled thousands clients in its programs, managing millions of debt for its clients without one complaint. Ontrack Financial Group™ is a for-profit, private company and is not affiliated with the credit bureaus or the credit industry. As a result, our services are unbiased and independent, which allows us to better serve the consumer.
Experience
Please read about us at Https://www.OntrackFinancialGroup.com
Education/Credentials
Banking & Finance
©2012 About.com, a part of The New York Times Company. All rights reserved.