What Could Happend if I dont paid these debts?

Dear sirs:
I have been receieving Collection letters for the last few month due to several debts my wife had. These letters began after I decided to stop the payment program we had through one of these consolidation firms that advertise their services. I spend two years paying $568.00 a month, I stop when I have to decide between eat or pay. The collection phone call and letter never stop. I want to know what can I do to fight these if I can or if I simply wait until the time pass and the statute of limitation work in my favor. How many years do I have to wait? What can they do agains my wife? How can I defend my self from one of those debts in one credit card that My ss was also included? All those debts are in my wife name not mine.
vferia
Asked Dec 21, 2012
It depends on the state where you live. Most states have laws that control what collection agencies can and cannot do. Most often the authority rests with the state attorney general's office. Your first step is to find out what the law is in your state. Information: http://www.bills.com/collection-laws/

They can sue you for the money but collection agencies seldom do that. They buy the debt from the lender at a steep discount and try to hassle you for the money.

You have the legal right to see what credit agencies are reporting and to include your side of the story. I would suggest you exercise that right also.



Rob
Answered Dec 21, 2012
The Fair Debt Collection Practices Act (FDCPA) is a set of federal guidelines that governs when and how debt collectors can contact you. Here's some info on what they can and can't do:
http://credit.about.com/od/debtcollection/bb/debtcollector.htm

You could mail them a Cease and Desist letter (via certified mail) to make them stop calling you pursuant to your rights under federal debt collection laws.

Sample letter:
http://credit.about.com/od/debtcollection/a/ceaseanddesist.htm

How to send the letter and what happens afterwards:
http://credit.about.com/od/debtcollection/a/stopcollectors.htm

There's also some good info in that section about how to deal with collectors, etc. when you are ready to pay up.
skyDancer
Answered Dec 21, 2012
Statute of limitations on debt by state:
http://credit.about.com/od/statuteoflimitations/a/entirestatesol.htm
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aliyahwestling
Answered Sep 03, 2014
yes I agree with aliyawestling, many people were frightened to go bankrupt for some reasons.Filing for bankruptcy was indeed a difficult decision to make.For that case consult for an experts for they will help you get back on your feet.
samanthainglis
Answered Dec 12, 2014
If you don't pay it, you will be in real trouble.
SimonAndrews
Answered Dec 24, 2014
In your case, you must consult an expert to help you.
bekalgoorlie
Answered Dec 26, 2014
If you are not going to pay your debts the company can file a case against you and you will get into prison specially if large amount of money involve.http://tldr.me/2v18irrp
katerichards
Answered Jan 17, 2015

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