Getting into debt seems like one of the easiest things you can do. Most credit card companies make it too easy to get more credit and thus further into debt you go. If you are like so many other people and use credit cards a lot then you know how easy it is to become overwhelmed with debt. Getting out of debt should be your number one priority. Make a plan so that you are always working towards paying of your debt. Changing the way you use your credit cards can help you to avoid staying into debt.
In the case that they claim it’s not an old debt, you are still protected against many debt collection tactics by The Fair Debt Collection Practices Act (FDCPA). This law requires many procedures to be followed by Debt collection companies, and it seems that the company, which called you, violated this law immediately.
It’s far worse too if there has been some mistake. The debt collectors say they rarely make mistakes but that is not my experience. They easily could have the wrong person or the wrong amount as they tack on all sorts of fees. They can also easily fail to serve a person the lawsuit so the jailed person may have no warning of what is coming.
The truth of the matter is that many of the credit accounts that go delinquent do not result in immediate lawsuits. What happens in many cases is that the original creditor, whether it is a department store or a financial institution, sells the delinquent account to a collection agency or junk debt buyer. Buying and selling debt is a very large business.
When the lawyers representing LVNV funding or its associates come to court, they bring bogus affidavits and in house made documents. So make sure you take a recent copy of your credit report with you is you go to court.
Alcohol sales: People are depressed and looking to drown their sorrows. This is not something that I actually condone, but it is a fact of life. Why else would alcohol be the best seller in depressed neighborhoods? People also purchase alcohol to entertain at home because it is far less expensive than spending an evening at a bar. I noticed just a few weeks ago my supermarket has moved around a few shelves. Under closer inspection, it turned out that they had eliminated about half of the housewares aisle, but back on baby food, and added another aisle of alcohol. If that’s not a sign of where the money is, I don’t know what is.
Beyond the statute of limitations, other than wanting to be an honest person and pay your debts, there is really no real reason why you should pay anything. It doesn’t even affect your credit anymore. Sometimes, they try to trick you by telling you that you only have to pay a small part of what you owe and they’ll let you go. If you do this though, this restarts the statute of limitations all over again and you’ll find yourself owing everything.