| Question about debt collection |
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| What to do.. |
| Sue |
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50% |
[ 1 ] |
| Settle |
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0% |
[ 0 ] |
| Ignore debt |
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50% |
[ 1 ] |
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| Total Votes : 2 |
imonaboatmfs
First Time Poster
Cash: $ 0.25
Posts: 1
Joined: 07 Feb 2016
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| Question about debt collection |
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If I pay a rent debt to collections, five years old, for which I cosigned with one other, pay the settled amount, in full; can it be noted on each credit report that one party paid in full, or have record extinguished, and the other marked that they could not/paid nothing? Is that a reasonable request? Or however unreasonable, can it be done?
I assume there has to be a consequence for someone avoiding paying their half of an old, joint debt. I can likely settle for much less than we owe. I believe this is the best angle. I am trying my best not to have to sue. I would have to sue for representation costs as well. I am nearly positive I would be granted her payment, but I dont want to take the chance if I don't have to.
Statue of limitations may be up. I may need a professional to look in to it. I am very curious about the answer to my question regardless. Thanks.
Needs options
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Sun Feb 07, 2016 2:40 am |
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global
Full Member
Cash: $ 13.85
Posts: 64
Joined: 26 Jan 2016
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| Oops |
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Lol, the poll came up with no title. It only gave 3 options:
Sue
Settle
and something else
Naturally I picked sue, because it is cool. Then I got redirected to this thread. I was loling at the fact that there was a question not at your situation. Your situation sucks.
I actually think you should whine/complain to her. Make her pay up. If she doesn't threaten to sue even if you can't. If she persists then sue her ass. Sue! Sue! Sue! Check the original contract and sue her!!!! Yeah!
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Thu Feb 11, 2016 3:22 pm |
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oldguy
Senior Member
Cash: $ 751.85
Posts: 3656
Joined: 21 May 2006
Location: arizona
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quote:
can it be noted on each credit report that one party paid in full, or have record extinguished, and the other marked that they could not/paid nothing?
No, you co-borrowed the amount, both are equally responsible.
quote:
I assume there has to be a consequence for someone avoiding paying their half of an old, joint debt. I can likely settle for much less than we owe.
Well, I hope not. "we owe" is the key phrase, the rest of us do not wish to pay it for you, isn't that kinda selfish of you?
The statute runs from 3 years (Alaska, CO, and a half dozen others) to 10 years. But again, if you stiff your lender, the rest of have to pick up the slack. Lenders have only one place to go to receive money and that's the customers. So they have to raise their fees and interest rates to cover the slackers and 'write offs'.
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Thu Feb 11, 2016 9:17 pm |
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Monika555
Preferred Member
Cash: $ 35.45
Posts: 171
Joined: 26 Oct 2017
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I think this is a good idea. I had a big debt on my credit card, it was hard to pay it off. So, I decided to try refinancing. I took out another loan with lower interest rates (here loan payments calculator helped me a lot), repaid the card debt, and then paid off the second loan. It allowed me to get rid of debt in a few months.
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Mon Nov 30, 2020 10:47 am |
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