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Confused Debtor Trying To Get Her Life Back

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Anonymous
Not applicable

Confused Debtor Trying To Get Her Life Back

Hello!

 

Thank you in advance to anyone reading this. I am a young woman from Oregon who has finally had it with running from her bad choices and wants some direction in fixing all the bad credit reports on her file.

 

Due to many personal issues (none of which excuse my behavior, but that is a regret I live with and understand) I racked up some hefty debt for someone my age. I have 2 student loans totalling in about $4,500 that are 120 days delinquent, and 2 credit card type debts totally about $1,600 (about $800 each) that are charged off.

 

Several times I have recieved calls from random LLC's or Collection agencies. I have not answered any of these phone calls, being a 19 - 20 year old I didn't know how to respond and figured that when I found out more about how to pay these bills I would discuss it with them civilly and proffesionally. That has lasted for roughly a year now, and now I'm not even sure who holds my credit on any of these accounts. I know that the student loans are still in OC's hands, but the other two, the credit cards, seem to have changed hands several times, with several groups calling me, never addressing who the credit debt is from.

 

I have taken my free credit report and checked the items on it. The only card that seems to show is the one from 1st Financial Bank USA. The other credit card (not really a card) is a pay pal buyer credit account and it is not showing up negatively on my account, even though I am pretty sure I have recieved calls on it and it is very delinquent.

 

After awhile I got used to ignoring the calls, and when I got my own phone (no longer on parents phone plan) I realized that they werent calling anymore. Since then they have started calling my parents and my grandmother, and have adhered to not discussing the debt with them, which I appreciate. But my problem is this:

 

I am and have been in a very tight situation, I lost my full time job and have been unable to pay any more than my utilities and rent and a little food with the part time job I was able to get. I had to stop going to school because I couldn't pay for books (where the credit card debt came from) and am now trying to move back in with my grandmother so I can have a chance to pay my debts and go back to school. I currently have NO money, but

I do not want these calls to continue. I am fairly certain that these debts are legitimate, as I do know my mistakes and will admit to them fully. I just have no way of PIF currently... Though I do want to pay.

 

Is it better or worse to contact them now? Do I continue to wait until I have saved up the full amount? I am going to begin paying the Student Loans off ASAP as I will be in a place where my money will not have to go to rent or other bills, but the other debt I fear will take a little longer to pay off. I am embarrassed by the calls to my parents but understand that it is MY FAULT that they are occuring and I am not expecting they stop. Is there anything I can do to stop the calls to my parents and grandmother without having the creditors demand payment in full right now, when I can't do so and end up with litigations against me? I have no money, no home and a car worth barely $200 bucks, and I don't see any way for them to squeeze money out of me any other way, but I would prefer to pay off the student loans and get a new full time job so I can start paying of the credit cards rather than the other way around and end up with another very negative mark on my CR.

 

I can give you any other info you need if you can help me walk through fixing all this, I have thought about going to one of those debt help or debt solution groups... are they worth it?

 

Thank you,

 

Ally

Message 1 of 4
3 REPLIES 3
Schoolbuskid
Valued Contributor

Re: Confused Debtor Trying To Get Her Life Back


@Anonymous wrote:

Hello!

 

Thank you in advance to anyone reading this. I am a young woman from Oregon who has finally had it with running from her bad choices and wants some direction in fixing all the bad credit reports on her file.

 

Due to many personal issues (none of which excuse my behavior, but that is a regret I live with and understand) I racked up some hefty debt for someone my age. I have 2 student loans totalling in about $4,500 that are 120 days delinquent, and 2 credit card type debts totally about $1,600 (about $800 each) that are charged off. Does the OC still own these debts? or Collection Agencies?

 

 

I have taken my free credit report and checked the items on it. The only card that seems to show is the one from 1st Financial Bank USA. The other credit card (not really a card) is a pay pal buyer credit account and it is not showing up negatively on my account, even though I am pretty sure I have recieved calls on it and it is very delinquent. (Are you saying it doesnt show as negative on your credit report?)

 

 

 

 

I can give you any other info you need if you can help me walk through fixing all this, I have thought about going to one of those debt help or debt solution groups... are they worth it?

 

Thank you,

 

Ally


So you only have the student loans and two credit chargeoffs that are hurting you? If you are in no position to pay then, really all you can do is just wait, until you do have the money, but in the meantime send them the "cease and desist" letter, and that should keep them from calling.  I probably forgot something if you have anymore questions let us know!

 

Good LucK!

Message Edited by Schoolbuskid on 04-10-2009 09:17 PM
Rebuilding and Reducing Debt, is my game plan.
Message 2 of 4
Anonymous
Not applicable

Re: Confused Debtor Trying To Get Her Life Back

Are these federal student loans or private student loans?

 

Call whoever has your SL and ask about your options, explain your situation. I know some have rehab programs and when you complete it, they will remove all the negatives. Also, ask about forbearance and deferment.

 

What is the DOFD on the CC debt? From what you've stated, it almost sounds like you are within SOL.

 

IMO, if you are within SOL and you can not PIF-- do NOT send a cease and desist. If you do, this means they can't contact you to attempt collection. The are left with 2 choices-- not collect the debt or file suit. What do you think they will do?

 

Your parents and grandparents can ask them to stop calling and/or send them a letter to not call them anymore.

 

After talking to the SL and seeing about getting it put off until you obtain full time employment, then figure out what you can pay on the CC debt.

 

If you got your free annual reports.....is there a balance reported by the OC? Are there any collection agencies reporting?

 

 

Message Edited by sidewinder on 04-10-2009 09:21 PM
Message 3 of 4
Schoolbuskid
Valued Contributor

Re: Confused Debtor Trying To Get Her Life Back

As you can see i am still learning, i strongly advise you to follow sidewinders advice! Good lucK!
Rebuilding and Reducing Debt, is my game plan.
Message 4 of 4
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