CHARGED OFF DEBT, WHAT SHOULD I DO ?

[stincz]

What would you do if you was me ?

 

I'm young, 21. I just landed a full time job.

 

I have $12-15k debt is from different accounts,all of them are charged off and no longer owned by credit companies but are now owned and sold and resold to different collection agencies. It is not 1 account, its like 10-15 accounts. As for bankruptcy, I do not think I want to go towards that step. I already put myself in a situation where they see that its hopeless to collect full balance unless they can find that I'm working full time now by me being on the payroll. I am currently working F/T now and can make some payments a month however I am not sure what to do ? should I contact each and indiviually do a settlement ?

 

Thanks

[breeze]

When did you stop paying on these?

[stincz]

about 1-2 years ago

[breeze]

The first thing to do is find out exactly who has the legal right to collect the money. Make a list of the collection agencies and the amounts owed, and send validation letters. This is not to get out of the debt, it is to find out who to pay, and exactly how much you owe. You don't want to pay one, and then, this time next year, have some other CA contact you, saying you owe the money to them, not to the one you already paid. Happens all the time.