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bluesealuvr wrote:
I have a CC for a catalog clothing company that went to collections. According to my credit report, it has been discharged. A CA is now contacting me for payoff and every month the amount due is increasing because of interest. I do not have the money to pay it off. Can the CA sue me? And, will this stay on my account from the date of the discharge or continue now that it has been given to a CA? I don't know where to start since I can't pay it off. ANY advice would be appreciated. .
bluesealuvr wrote:
I checked my CR and this is what it states:
The CC is listed as "charged off as bad debt" and closed 2003. (My mistake, it does not say 'discharged').
The CA info on the CR states original balance of $3,611 with current balance of $5,721 and states will be removed on 5/2010.
I see no other info on my CR re this account. Thank you for your help as it is appreciated. I am in the beginning process of trying to clean up my credit and correct past mistakes.
I am nervous to contact the CA as I don't have the money to pay off the debt but also nervous about being sued. I live in CA.
I have a few other CC's but am current on them but only able to make minimum payment and get by with my financial situation at the moment.
bluesealuvr wrote:
Thank you for your help! I am looking up acronyms as I read your reply. By DOLA, do you mean the last date reported? The last updated activity by the CA is 7/2008. The CC states 3/2003 as "account closed" with $0 balance and "collateral--sold to another lender", which I assume is the CA. Thank you for your patience as I lean my way around the terminology.