Quote:
Originally Posted by jimmycooper
Here's what you need to do. Send the collection agency a certified letter explaining that you have absolutely no intent on paying them and that, should they ever feel the need to contact you at some point, they must do so in writing. It sucks to be in this situation, but you are where you are and you have to do what you have to do. The debts that you defaulted on will start coming off your credit reports in about 5-7 years. You can start rebuilding your credit with prepaid cards and other various tactics in 3 or so years. If the decision to not pay debt collectors continues to weigh on your conscious after you get back on your feet, give the $4K to charity.
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That will keep them from harassing him, but it doesn't mean that they can't get a judgment against him and a lien against whatever property he may have.
My mom passed in December, and it's since come to light that she...who was a financial nutcase...neglected to pay some piddling ass unsecured credit card, who turned it over to collections, who in turn took her to court. She didn't show, the judgment was in their favor, and a lien against her property was issued. So when she died, the small amount of property she had and the residence on it will now go to some company to pay off a credit card that probably had a $1k balance on it. Just a cautionary tale of stupidity run amok. Don't be overly confident thinking that because all you have right now is some old car that they won't go after that, because they may.