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.
I'm sure I will get slammed for this but I need some honest advice. I opened an Arriva Credit Card in 2006 at the request of my boyfriend at the time who was trying to become a professional poker player. Arriva issued me a $10,000 limit (had excellent credit at the time).
The card was maxed out in two years (with no delinquent payments) and the relationship ended around the same time. (Obviously he didn't make it as a professional poker player).
Because the card was in my name and we had never made any agreements, I was left with the payment which eventually became too much. I stopped making payments in the summer of 2008 only to begin repayments with a dept repayment program after being 120 days delinquent. Arriva agreed to the debt repayment program, however they never issued me new statements showing reduced balances as Arriva credit card had been shut down. I stopped making payments in late 2010 and I have not heard from them since 2008.
Arriva still shows on all three of my credit reports with a 10k balance and the last action shows as of 2008. I have paid over 50% of this. I don't know what steps to take next. Their number does to a voicemail and their website is no longer active. Should I try to update my credit reports to the new amount? Should I leave this alone for it age off of my report in 4 years? What would you do?
Let this be a lesson learned. Don't ever do anything like that again. Don't co-sign for anyone, don't get a cell phone for anyone, and don't get a credit card for someone.
Be careful what you do, because the statute of limitations on debt collection in your state seems like it might play out in your favor. If you inadvertently reset the clock on any collection activity, you'll regret it.
Post your question on credit boards, ask about statute of limitations, and when you're past it (a good ways) fire off your dispute letters to the credit reporting agencies.
PS - wanna lend me $10,000? I have a hot stock tip....
also, is there any chance you have any documentation about giving the ex the money? you may be able to take him to small claims court if you do, and it may be worth the effort. otherwise, like the others said, just let it go and let the statute of limitations work for you.
lesson learned. and in the grand scheme of things, $10,000 is probably not such a terrible lesson, given how deep some people get.
I personally am not in favor of stiffing the credit card company, however, it is obvious that you never will be able to repay the debt, so, let it run. Let sleeping dogs lie.
Hopefully, you have learned your lesson, and,as is said...love is blind. Do you now see the light?
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.
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.
