Posted on
June 22, 2009
at
11:06 pm
hope someone can aswer this. thanks
Posted on
June 23, 2009
at
3:17 am
Four years for a written contract, two years for an oral one, and four years also for promissory notes.
Posted on
June 23, 2009
at
5:29 am
Open accounts (such as credit cards) also take four years. Debt collection also takes the same amount of time. Judgments, on the other hand, take ten years.
Posted on
June 23, 2009
at
5:43 am
Sorry for the double post--just to let you know, the SOL starts on the day that the debt, or a payment on the debt, was due. Some debt collectors might scare you and claim that the statute's period begins when they bought the debt. That's why it's important for you to obtain documentation in order to back up your defense against them, in the event that they still attempt to collect the debt from you.
Posted on
June 23, 2009
at
5:48 am
thanks much, i was wondering if you can help me, too. i'm a waitress and have a lot of debt. like $35,000 in credit cards. i don't want to lose my job that's why i've been working extra hours. but it seems like what i'm making isnt enough. what do you suggest i do??
Posted on
June 23, 2009
at
6:18 am
With your debt amount I suggest go for debt settlement. You can do it by yourself, or ask for the services of a debt settlement company. Most debt settlement companies can negotiate with your creditors for a lower payment and slash off at least 40-60% off of your balance. They also don't really ask for a hefty payment amount up front--it's around 15-25% of the loan, and you'll be asked to pay for it on a specific time period.
Posted on
June 23, 2009
at
6:30 am
Debt settlement is also a good option for you given that you have a steady source of income. If you would choose to do it on your own, on the other hand, you'll need to personally negotiate with your creditor and ask for specific terms of payment from them. They have a tendency to be tough and ask for more than what you might be able to afford.Either way, by settling the debt you're better able to get back on your feet and have less to worry about.What you can also try to do is fill out a form on DestroyDebt.com. It's free, and you'll be matched up with a qualified and competent provider.
