Received a letter from Debt collector
Posted by Mchum2@reddit | studentloandefaulters | View on Reddit | 9 comments
I received a letter in the mail about my loans through William and fudge saying if I don’t respond in the next thirty days they will consider giving it to an attorney. How often do they send these letters out and should I be worried.
Mchum2@reddit (OP)
If I keep responding to the debt doesn’t that keep resetting the sol clock?
Blocked_U@reddit
Just by responding to them, there may be language within the letter that says if you respond, you are acknowledging this is a debt you owe so look at the letter very carefully before you respond. Also like others have said check to see how old this debt is. It might be past your states statute of limitations for them to sue you. If that’s the case, I would completely ignore them and not respond at all because there’s no way they can take you to court once it’s past the statute of limitations. If they are within the statute of limitations, then it is possible that they will eventually proceed with legal actions in that case like others have said contact them and negotiate with them. A lot of these companies pay pennies for your debt so even if you offer half they’ll still take it and set you up a nice payment plan. I’ve had companies garnished my wages in the past and it’s not cool them taking 25% of your paycheck. Not to mention embarrassment when HR notifies you that a garnishment has been issued. So find out your state statue limitations first, then proceeded from there.
SettleBankDebt@reddit
As a debt negotiator if you don't respond you should brace yourself for legal action. If a creditor or creditors agent places legal language in a letter they will follow through.
suzyswitters@reddit
So..my husband got sued by a credit card debt. I answered a few time of back and forth with the courts. The judgemental was, of course, for the plaintiff. BUT...it was also for a lower monthly payment with no interest that he paid off in less than a year. Bad/good.
Equivalent-Watch9744@reddit
Just dispute the debt over and over again. If you don’t do anything then they can send it to attorney
Usukidoll@reddit
I had to search up info about debt verification letter and when not to send one. If the debt is still with the original creditor or is getting close to the statute of limitations, it's not a good idea.
_night_cat@reddit
I ignored them and got sued. You need to send a response denying the debt ASAP so it doesn’t become a zombie loan. https://www.highradius.com/resources/Blog/collection-dispute-letter/
Usukidoll@reddit
Scare tactics .
brotatochip4u@reddit
Fuck them and the scare tactics! Wait until you receive a summons in court with a date, time, and location. Then, call them to negotiate 20-30% of debt with a lump sum payment. You might get lucky and they never do shit. Check your state for time limitations on collection of debt. Good luck!