U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Economics
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 02-09-2019, 12:19 PM
 
8,093 posts, read 2,020,394 times
Reputation: 5661

Advertisements

Quote:
Originally Posted by TaxPhd View Post
Has it been determined if this debt is actually legitimate? If it is legitimate, do believe that your ex should pay it, or not?
I personally do not know if its legitimate, I do know she was using payday loan places for awhile back then, before we got divorced, but when I found out, she said they were all paid off.


I also know the payday loans she did get, none was over $500, most were around $100-300.


At this point though, 10 yrs after, even if it is legitimate, ultimately the original debt was settled, bought by a debt collection agency that buys 'old debt'...so any money she would pay, would not even go to the people that made the loan (since it was sold/settled). Ive read some articles on 'buying of old debt' and it seems very shady and sketchy from a legal standpoint...in that, the original debt, has already been settled/paid/sold off....so whether there is actually any debt is kind of grey. The articles painted the 'old debt' agencies as scavengers, bottom feeders, trying to get pennies on the dollar.


They claim the debt is $3000, but I really think if she offered to pay $200. they would probably agree right away!
Reply With Quote Quick reply to this message

 
Old 02-09-2019, 12:27 PM
 
Location: Northern panhandle WV
2,913 posts, read 1,995,895 times
Reputation: 6243
Tell her to ignore it completely. Never respond to a debt collector.
Reply With Quote Quick reply to this message
 
Old Today, 07:12 AM
 
Location: Boston
5,984 posts, read 1,768,085 times
Reputation: 4387
who knows how long they've been trying to collect this debt? Yes it could be $3000 now. Her credit rating must suck, your may suck soon too. Do you have anything of value that could have a lien placed against it? Good luck.
Reply With Quote Quick reply to this message
 
Old Today, 08:54 AM
 
Location: Forests of Maine
30,192 posts, read 48,344,722 times
Reputation: 18350
Quote:
Originally Posted by skeddy View Post
who knows how long they've been trying to collect this debt? Yes it could be $3000 now. Her credit rating must suck, your may suck soon too. Do you have anything of value that could have a lien placed against it? Good luck.
It does not automatically follow that your credit rating would drop, from one debt collector.

If the debt collector is local, I can see a slightly higher chance that they might try to research whether you have a property that they could put a lien against. But if the debt collector is based in some other state, dont sweat it.

If a debt collector reports an outstanding debt to a credit reporting agency, they have to notify you. You have the opportunity to file a counter-argument to their claim. So it might look like a 'bad thing' or it might not.
Reply With Quote Quick reply to this message
 
Old Today, 08:59 AM
 
Location: NJ
23,274 posts, read 29,288,960 times
Reputation: 15170
Quote:
Originally Posted by rstevens62 View Post
I
I also know the payday loans she did get, none was over $500, most were around $100-300.
not really important but you are saying you didnt know she was taking out the loans but you do know that none were over 500. how can you be so sure?

i cant believe she was about to just pay it.
Reply With Quote Quick reply to this message
 
Old Today, 12:21 PM
 
8,093 posts, read 2,020,394 times
Reputation: 5661
Quote:
Originally Posted by CaptainNJ View Post
not really important but you are saying you didnt know she was taking out the loans but you do know that none were over 500. how can you be so sure?

i cant believe she was about to just pay it.
She had been doing these for awhile before I found out about it, I saw some of the paperwork/ contracts she had, (from previous ones), most were between $100-300.


From what i saw of the paperwork, it looks like they based the charge on how much of an advance she requested, when she asked for a $100 pay check advance, it would cost her about $70.!! She could have borrowed money from the mafia at a better rate!!
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Economics
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top