There is no way I can pay this. I am on food stamps right now because he left me with such a mess. I have a very low paying job and will not graduate from college for 2 more years. So it will be a while before I can start even sending a little bit in every month.
I am scared to death over what to do here and how to handle this. I hate court. I've never owed anyone money before and I don't know how to handle this.
Has anyone been through this? How did you handle it and what happened?
I'm sorry you are going through this!
Bankruptcy was made for situations like this. I"m sorry that you're dealing with this.
"In life, unlike chess, the game continues after checkmate." - Asimov
"Be patient and tough; someday this pain will be useful to you." - Ovid
I know my advocate told me that many collection companies will settle for a lot less than the original debt and that helps keep your credit score salvageable, but I can't even settle right now. I used to have an 830 credit score! I had impeccable credit (I paid cash for my first house!) I can't believe one loser can come in and do so much damage and I can't believe I let him.
I had this happen recently because of my wxh (we've been D for 6 years, but we had a jointly owned business).
I was able to negotiate for a much lower settlement.
I think bankruptcy is your answer. They won't be able to come throw you in jail - they'll just verbally harass you. Stop answering your phone.
Hang in there - you're in my thoughts.
They won't be able to come throw you in jail - they'll just verbally harass you. Stop answering your phone.
I feel like a criminal.....
Above all, educate yourself about the Fair Debt Collection Practices Act as that spells out what they can/cannot do legally to collect a debt and you will be better equipped to deal with them (see http://www.ftc.gov/enforcement/rules/rulemaking-regulatory-reform-proceedings/fair-debt-collection-practices-act-text).
beingmiranda, thanks also. That sounds hopeful to me....and 3 years isn't terribly long, since right now I have to pay cash for everything anyway since he already ruined my credit since I have been sent to collections for all his debt.
What is killing me is that he ran my credit card up while he was down south partying it up (on my credit). He was supposed to use the card only for his business expenses but instead it went for cable porn, booze for "clothes optional" parties, and other lovely expenses.