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Miracle in the Making
Posts: 4013
| my son talked to the lad got lab work reduced from 750.00 to 35,00
hmm the reason health is so high is people that use er like dr office walk away from bills
i broke my neck 2001 bills over 100,000 my part 20000 plus i know longer could really work like i di for a few yrs. it took yrs but we paid them back
i hate deadbeats i wish we would have no welfare no food stamps nothing but from church |
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  Ms. Manners
Posts: 1820
  
Location: Oklahoma | Lucy's Mom - 2014-02-05 4:39 PM I went through this in 2010 with a medical/credit card debt. $17,000 was my total debt. I was making payments every month but was still sent to collections, went through a debt relief company. The best thing I did was go talk to a bankruptcy lawyer, I explained my situation and it was decided that I should file bankruptcy. Now four years later my credit score is 100 points higher and my husband and I were able to get pre approved for a home loan. Now if we could just find something that fits in our budget without costing us a ton to repair. Your friend should go talk to a bankruptcy lawyer most of them offer free consultation.
Quite a few years ago, I went and spoke with a credit counselor who helped map out a plan for repayment and get in touch with all the creditors . . . my credit score went up 100 points in 6 months and after 13 months was 280 points higher than when I visited the advisor. Just because I was irresponsible with my credit when I was young doesn't mean I can chalk it up to being "young and dumb" and let bankruptcy clear my record. Bankruptcy stays on your credit a whole lot longer than actually repaying debt.
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Extreme Veteran
Posts: 465
Location: Arkansas | I'll probably get ripped for this, but, IMO, not paying a debt is akin to stealing. You received an item, service, whatever for which there was a price & did not pay for it. |
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 Expert
Posts: 1286
Location: Mississippi | I have worked for a debt buyer for 13 years and I can promise you that it doesn't just go away. Even debt that is out of statute is fair game in most states. My personal suggestion would be that he call the collection agencies and try to work out a payment arrangement or settlement. Our company usually sends a debt to at least 2 different collection groups before it goes into litigation. Once it goes to an attorney, the balance goes up quick with court costs and fees. |
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Ms. Manners
Posts: 1820
Location: Oklahoma | Ask him how he'll feel checking the box "have you filed for bankruptcy in the last . . . " on every credit application and many job applications. |
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 Elite Veteran
Posts: 929
| I have a question...back when I went to college (which was a while ago) you didn't have to start paying your loans back until you were out of school so that while you were there all you had to focus on were classes, and then when you were done and working, you could pay back some debt. Do they still do this or was my class just lucky? (I didn't need a loan, but others in my class did and said they weren't expected to pay their loans back until graduation.) |
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Elite Veteran
Posts: 733
| Just a thought but maybe he should take a break from school and go get a real job untill he pays down his debt. That is what I had to do, I get really sick of the "I am in school, so I don't have to pay it" philosophy. Going to school is a choice, and when you get out of school life is no more covered with roses than when you started. |
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 Tough Patooty
Posts: 2615
Location: Sperry, OK | I don't know how people can just not pay for debt they have incurred. I had a credit score of 780, worked hard to bring my husbands up from the 500's. Had his to the upper 600's when I lost my job. I went a couple of years without a steady job, worked some temp stuff and sometimes didn't have a job at all. I worked my tail off to keep my bills paid... yes they got behind, but I never "didn't pay" or "walked away". I robbed Peter to pay Paul, I flipped and flopped more money than I could keep up with. The end result is my credit now sucks from "late payments", but everything is caught up (as I am working full time again), now I just have to play the "no late payments for a year" to start to see my credit go back up. I will tell you this, I am a very proud person and it kills my soul to know my credit score sucks!!!
The other thing we all need to know/remember is .... it takes 2x the money to get out of debt.. so if you are $100 dollars behind, it will take $200 to get back even. He might think about this with his current debt at $15,000... if he doesn't pay it it will take $30,000 plus for him to get out of it and back even! (hence why it has taken me a year and a half to get caught up, and I am caught up on my bills, but still behind on savings and struggling with extras for groceries and gas... I am not even yet, still!!!)
Edited by ACEINTHEHOLE 2014-02-07 12:28 PM
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 Do You Feel Lucky Punk?
Posts: 3156
Location: NM...the Land of Manana | If you call the credit card company and ask to speak to someone in the "hardship" department, sometimes they will lower your interest to a really low rate and cancel the card and allow you to pay it off over time.
Edited by Lightfoot 2014-02-07 1:29 PM
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