Re: Question about old debt

Write to the credit bureaus – each of the big three and ask them to remove it in 2 months. Document everything and make them sign for your written request.

The collection agency can not start the clock again. The Fair Debt Collection practice does stop that. They have to deal with the original date.

Ive appreciated so much of the advice Ive read for the past few months. So thanks to all of you! Now my question…

I recently received a collection letter in the mail for an unpaid balance I owe to Book of the Month club,which is supposedly from 2004! So Im wondering why they have waited 4 years to pursue this and if I should be concerned about it affecting my credit report.

They are offering a payoff amount and its only about $40. I’m tryin to get my credit cleaned up so Id hate for something this small to affect that.. its just the fact that its from 2004 that is making me wonder a bit. Can anyone shed any light on why this would come up now? I am a member of the book club currently and in good standing,which also makes me wonder why they didnt mention any of this when I signed up 2 yrs ago. hmm?

I would call the club’s CS AND ask them. Don’t send anything to them untill you get a response about this. If you’ve been a member all this time, under the same member number, something’s fishy…. Err ‘Phishy’…!

Does Debt Consolidation/Debt Settlement Even Work?

Came across a site offering this, does it even work? Trying to get out of debt but there are so many scams out there I don’t know what’s what. Thanks in advance.

My husband & I contacted a debt relief company last week. I did a background check on them & they have been with the BB for 5 years. Here is a small background of our situation:

We owed a whopping $90,000.00 in unsecured debt. We did a lot of home improvements, especially our driveway, it was nothing but pebbles. We redid the main bathroom, etc., etc. Then we took a bunch of vacations to Europe throughout the years. So needless to say we were drowning in debt. I got low interest rates, consolidated loans & we were still drowning. The CC companies kept raising the minimum payments higher & higher.

We signed on the dotted line. I have never felt so relieved. No more interest, stress, just pure relief. They told us to keep one CC for emergencies & believe it or not we had a card with a ZERO balance.

Granted you have to pay them a fee… but what we were paying in interest fees, this fee doesn’t hold a candle to what I would be paying for years to come.

It was a pleasure to sit down the other day & cut up all my CC cards into little shreds… Yippie, we are headed to be debt free for the rest of our lives. The process takes between two to three years.

So what happens today, our washing machine bit the dust. But since we didn’t have to pay our CC’s this month we could pay cash. What a great feeling.

Also, answering your question – It works as long as you change your behaviors moving forward….Congratulations on attacking the debt and good luck!!!