Results 1 to 6 of 6

Thread: Bankruptcy, Foreclosure and credit scores Florida

  1. #1
    Junior Member
    Join Date
    Jan 2011
    Posts
    11

    Default Bankruptcy, Foreclosure and credit scores Florida

    Hello,
    Back in the beginning of 2010 we retained a bankruptcy attorney. We have close to 100000 in credit card debt and car loan debt. We have not paid our mortage for a year and a half. However, we are negotiating with a non profit to refinance our mortage and reduce the loan. Our attorney says we need to wait until that is finalized before filing. My questions are these. It has been two years since these cc debts were charged off. Won't they just "go away" after seven years from my file?
    And...
    The auto loan people have been given the attorneys name and yet repeatedly call seven, eight nine times a week. They said they are allowed to do this until they have a case number. Isn't this illegal? I have an attorney. Can they do this? This was also charged off. Is any off this worth a bankruptcy?

  2. #2
    Super Moderator
    Join Date
    Apr 2007
    Location
    Il.(near STL,Mo.)
    Posts
    15,010

    Default

    Since you have an attorney, you really should ask him/her all of your questions. He/she
    has all you info - we don't. They should know if filing bk is the best thing for you to do.

    The charging or writing off of a debt is only a (required) accounting entry by the creditor. It does not effect you, or change the amount you owe, or that you owe it.
    It does not change any of the legal methods to force collection that were available before making the entry.
    If your credit report reports that you have a bad debt write-off, then it means that the original creditor has written off the debt, but they can still sell the rights to the debt to a collection agency and they can contact you and take legal action if the SOL for collection has not elapsed. (Even if the SOL
    has elapsed for collection of the debt, it is still a debt that you owe/never paid. They just can't collect it.)

    Charge offs can show on your credit report for seven years + 180 days from the date reported to the credit bureau.

    Talk to your attorney.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

  3. #3
    Junior Member
    Join Date
    Jan 2011
    Posts
    11

    Default law

    But what is the law about the auto loan bank calling incessantly...

  4. #4
    Super Moderator
    Join Date
    Apr 2007
    Location
    Il.(near STL,Mo.)
    Posts
    15,010

    Default

    Even if they charged it off on their books, they can still try to collect it. Talk
    to your attorney who has all your info.
    Last edited by Betty3; 01-09-2011 at 03:27 PM.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

  5. #5
    Junior Member
    Join Date
    Sep 2011
    Posts
    6

    Default

    I know this thread is a little older, but I have been going through something similar of late with the Credit Debt in collections. Seven years and the charges WILL disappear, but your credit is going to be absolutely crushed until you deal with it. Take it for what it is worth....

  6. #6
    Super Moderator
    Join Date
    Apr 2007
    Location
    Il.(near STL,Mo.)
    Posts
    15,010

    Default

    tempguy, please do not reply to old threads - Thanks.
    Too often we underestimate the power of a touch, a smile, a kind word, a listening ear, an honest compliment, or the smallest act of caring, all of which have the potential to turn a life around. Leo Buscaglia

    Live in peace with animals. Animals bring love to our hearts and warmth to our souls.

Similar Threads

  1. Credit Scores Colorado
    By DutchRudder in forum Personal Debt
    Replies: 1
    Last Post: 08-03-2009, 03:59 PM
  2. How long will my bankruptcy show on my credit record? Florida
    By qacrawler in forum Idaho Bankruptcy Law
    Replies: 0
    Last Post: 06-24-2006, 12:02 AM
  3. Replies: 0
    Last Post: 06-23-2006, 11:33 PM
  4. Bankruptcy Risk Scores
    By coolrobot in forum Bankruptcy Law
    Replies: 0
    Last Post: 04-08-2006, 01:06 PM
  5. Rebuilding Credit / Also, FICO Scores
    By warren in forum Bankruptcy Law
    Replies: 0
    Last Post: 10-12-2005, 06:16 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •