Three years ago my husband lost his job. His MBNA America CC went into default. The credit limit on that card was 14,100.00. The card was no where near maxed out.
Fast forward to July. My husband gets a letter from an attorneys office. They say they represent Cavalry Portfolio. The attorneys office won't even talk settlement. They only want a payment. Yeah right. We don't have STUPID written across our foreheads. At least not in bold caps!
In August the sheriff rolls up. He has a summons. The summons claims my husband owes almost 18,000.00. I inform him my husband now lives in North Carolina. He leaves the summons anyway.
My husband comes into town to visit our son. I update him on everything and he calls the attorney. The attorney says now my husband owes over 26,000.00. However, in an unprecedented act of human kindness they will settle for ONLY 80%. They are good people aren't they?
I get on the 'net and find out the statuate of limitations in NC for credit card debt is three years. Do you think the bottom feeders at Cavalry care? My husband is meeting with an attorney next week.
Beware of Cavalry. However, they are good at growing things. They took a credit card debt of around 10,000.00 and nutured it until it almost TRIPLED in size. Here's to Cavalry's green thumb.
I will also be posting about our experience with MBNA that story rivals this one for dirty tricks.
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