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Question about debt collection

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Money Talk > The Green Room

What to do..
Sue
50%
 50%  [ 1 ]
Settle
0%
 0%  [ 0 ]
Ignore debt
50%
 50%  [ 1 ]
Total Votes : 2

Author Thread
imonaboatmfs
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Question about debt collection  Reply with quote  

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
Post Sun Feb 07, 2016 2:40 am
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global
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Oops  Reply with quote  

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!
Post Thu Feb 11, 2016 3:22 pm
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oldguy
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 Reply with quote  

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'.
Post Thu Feb 11, 2016 9:17 pm
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