[Show all top banners]

basebook
Replies to this thread:

More by basebook
What people are reading
Subscribers
:: Subscribe
Back to: Kurakani General Refresh page to view new replies
 Credit debt help
[VIEWED 4942 TIMES]
SAVE! for ease of future access.
Posted on 08-04-15 12:07 PM     [Snapshot: 18]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Since its been that long and its collection agency, so no worries so far. But some of the banks will take you to court namely Bank of America, depending on the amount of debt.
 
Posted on 08-04-15 12:10 PM     [Snapshot: 33]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Better pay off that debt if he doesn't want to spend a long time in Jail.
 
Posted on 08-04-15 12:11 PM     [Snapshot: 35]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

takes eight years for the credit to fall of the records from the last payment. If he acknowledges the debt, the cycle will start again. But if he wants to get a credit card or some loan he will be SOL because the credit will be messed up
 
Posted on 08-04-15 12:13 PM     [Snapshot: 37]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

I don't think banks can put you in jail just because you don't pay our debt. But his credit score will be trashed. That means he won't get any decent job, loan, mortgage, cellphone and list goes on.
In short his life will be miserable!
 
Posted on 08-04-15 12:15 PM     [Snapshot: 28]     Reply [Subscribe]
Login in to Rate this Post:     1       ?     Liked by
 

"Your Friend" has couple of options
1. If you can show them you were out of the country because of hardship or other circumstances they might be able to work something out with you
2. Since its already with collection agency, "your friend" can negotiate the balance and pay it off
3. File bankruptcy
Hope this will help "your friend"

 
Posted on 08-04-15 12:21 PM     [Snapshot: 68]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

you should be able to negotiate with the collectors for 1/10th of the amount,
if they don't agree wait a few months and negotiate again until you can come up to an amount what will consolidate the account.
-Source a friend
 
Posted on 08-04-15 1:32 PM     [Snapshot: 139]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Since your friend intentionally did this, option here is to keep quiet and just keep track of the letters from the collection agency. If he gets court order to appear in court, then he should contact the lawyer representing the bank and negotiate with them. Keep in mind they will be very stern in this negotiation.
 
Posted on 08-04-15 1:59 PM     [Snapshot: 183]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Jahbless. You typed my response verbatim (including, "your friend.")
 
Posted on 08-04-15 2:56 PM     [Snapshot: 264]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Also if paying the collection agency , get it in writing that the derogatory remarks will be taken of credit report completely. No payment before that.
 
Posted on 08-04-15 4:37 PM     [Snapshot: 335]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Best way is to directly deal with the Bank rather than collection agency. First, fix things with Bank, and then call collection agency and let them know that you have fixed your problems through the bank. His credit history is gone (dead) for 7,8 years. If he can, he should negotiate and pay all the debt.
 
Posted on 08-05-15 7:14 AM     [Snapshot: 483]     Reply [Subscribe]
Login in to Rate this Post:     0       ?    
 

Thank you all for your valuable suggestions. I think negotiate and pay the debt will be best solution. Thank ya all once again.
 


Please Log in! to be able to reply! If you don't have a login, please register here.

YOU CAN ALSO



IN ORDER TO POST!




Within last 7 days
Recommended Popular Threads Controvertial Threads
ChatSansar.com Naya Nepal Chat
साझाका लेखाईले आतंकित बनाउछ
##केटा हो ,*Monthly* कती *SAVE* हुन्छ ? ##
Saroj Sai - Cover Songs - Music
My parents are visiting me in usa , i need to take them to canada so what is the process can someone help me please?
Tito Patey Benefits
" म किन हिन्दु होईन" पढ्नु भएको छ ? Must read and know about Hinduism
with conservative US Supreme Court, do you think TPS gonna be extended ?
Advance Parole
सालीको पेन्टी
NOTE: The opinions here represent the opinions of the individual posters, and not of Sajha.com. It is not possible for sajha.com to monitor all the postings, since sajha.com merely seeks to provide a cyber location for discussing ideas and concerns related to Nepal and the Nepalis. Please send an email to admin@sajha.com using a valid email address if you want any posting to be considered for deletion. Your request will be handled on a one to one basis. Sajha.com is a service please don't abuse it. - Thanks.

Sajha.com Privacy Policy

Like us in Facebook!

↑ Back to Top
free counters