In Debt and Dont Know What To Do

[JackRussell101]

Married, Children, Husband active duty military.

 

I have, on my own, incurred a large debt and I want to correct it. I have gone over my credit report, disputed the ones that were not valid, and contacted the ones that were, and have been making payments. I read where someone had posted the importance of validation letters. I read thru that file and am not sure which apply to me. What I am wanting is for them to verify whom I am paying and what amount, in case the account is sold to another company in the future, I want to protect myself from having to pay again. Any ideas? Wording?

 

Now here is my BIG problem.

 

2004, While living in the state of Maine I purchased a small piece of land in Texas. (not one of my best decisions) I made payments on it for about a year. We moved to Texas but I had never seen nor stepped foot on the land. After a year I got very sick and stopped paying. 2006, I was sent to collections for $6000.00 The CA is Rickenbacker, they are just awful. Most agents I can hardly understand. I called them and told them that I wanted to make good on this, asking for help in coming up with a payment plan. The agent refused to accept what I could pay. I asked for an address to send a payment, I was told that there wasnt one. I asked for a way to make payments online, I was told that there wasnt one. I was told twice that the only way that they accept payment was over the phone via credit card (yeah like i want to get into more debt) and check over the phone. My husband has said NO to that option. The interest on this account is huge and as of now, I owe $10,000. I would happily make payments to them every month but I am afraid to contact them. Afraid to start the harrassment all over again. And I just learned about the SOL. I dont want that to start all over again. (SOL=would that be the state I live in or state i lived in when i was sent to collections, or where i was when i originally made the agreement?)

 

I am scared to death that they will try and take me to court, or garnish wages.

 

Any ideas would be appreciated.

[clutchmastercory]

Now here is my BIG problem.

 

2004, While living in the state of Maine I purchased a small piece of land in Texas. (not one of my best decisions) I made payments on it for about a year. We moved to Texas but I had never seen nor stepped foot on the land. After a year I got very sick and stopped paying. 2006, I was sent to collections for $6000.00 The CA is Rickenbacker, they are just awful. Most agents I can hardly understand. I called them and told them that I wanted to make good on this, asking for help in coming up with a payment plan. The agent refused to accept what I could pay. I asked for an address to send a payment, I was told that there wasnt one. I asked for a way to make payments online, I was told that there wasnt one. I was told twice that the only way that they accept payment was over the phone via credit card (yeah like i want to get into more debt) and check over the phone. My husband has said NO to that option. The interest on this account is huge and as of now, I owe $10,000. I would happily make payments to them every month but I am afraid to contact them. Afraid to start the harrassment all over again. And I just learned about the SOL. I dont want that to start all over again. (SOL=would that be the state I live in or state i lived in when i was sent to collections, or where i was when i originally made the agreement?)

 

I am scared to death that they will try and take me to court, or garnish wages.

 

Any ideas would be appreciated.

 

A) Texas is your friend!

read more on texas law

C) never give a CA personal information unless you have exhausted all other options and PFD

D) Check out the sample letter section and read the noobie section

E) DV is everyones friend!

F) DON'T DO ANYTHING TIL YOU KNOW YOUR RIGHTS!

 

 

Now the people with Texas knowledge step in. I understand Tx is awesome

[jtoast]

google "why chats credit confusion" for SOL info.

[76Chick]

If it's land... why don't they just take the deed back? Or is the 6K for the fees.

[jtoast]

Thinking timeshare? Is your husband on the loan? If so take a look at the Soldiers and Sailors Relief Act.

[devious9191]

With the land, have you been paying the taxes on it?

[improper_validation]

Hello, fellow Mainer here. Maine is your friend as well... www.credit.maine.gov

 

Do not think you owe what a collection agency tells you, and don't pay a collection agency without proper validation and a VERY good settlement offer.

Edited November 20, 2009 by improper_validation

[JackRussell101]

omg. i never even thought about taxes. uh oh.

 

i have been "assuming" this whole time that the OC essentially "took the land back" and i was to pay out the amount of the original purchase. lord. i have no idea how to find out the details without contacting the OC or DA. i am an salamander.

 

i'll be honest, i have pretty much buried my head in the sand about this for 2 years now. i have an anxiety disorder and for a while, this was more than i could even consider thinking about.

[JackRussell101]

1) i have "opted out"...now to remove my old addresses from CR, do i need to cal/writel or can that be done online?

 

2) obviously dealing with the CA isnt a good idea. should i try to contact OC?