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<blockquote data-quote="DaisyFace" data-source="post: 338328" data-attributes="member: 6546"><p>K--</p><p> </p><p>I know it's a little late on this but...here it is:</p><p> </p><p>By law, CC companies MUST dump bad accounts after six months. The end.</p><p> </p><p>They often will call at the last minute and try to negotiate a settlement offer. They usually offer a pretty good deal at this point (really low interest, forgiveness of a portion of the debt, low montly payments etc). Yes, they will require your checking account info in ordet Occupational Therapist (OT) set up a regular draft for the payments.</p><p> </p><p>If you do not take the deal, the account is sold to a collection agency....who will probably immediately begin harassing the heck out of you for the full amount plus interest.</p><p> </p><p>A bankruptcy filing will make either of these (the CC co or the collection Agency) go away.</p><p> </p><p>by the way--You are not always liable for taxes on any amount forgiven. It depends upon several factors.</p><p> </p><p>--DaisyFace</p></blockquote><p></p>
[QUOTE="DaisyFace, post: 338328, member: 6546"] K-- I know it's a little late on this but...here it is: By law, CC companies MUST dump bad accounts after six months. The end. They often will call at the last minute and try to negotiate a settlement offer. They usually offer a pretty good deal at this point (really low interest, forgiveness of a portion of the debt, low montly payments etc). Yes, they will require your checking account info in ordet Occupational Therapist (OT) set up a regular draft for the payments. If you do not take the deal, the account is sold to a collection agency....who will probably immediately begin harassing the heck out of you for the full amount plus interest. A bankruptcy filing will make either of these (the CC co or the collection Agency) go away. by the way--You are not always liable for taxes on any amount forgiven. It depends upon several factors. --DaisyFace [/QUOTE]
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