There were precursors to this old debt such as attempts to collect payment from collection agencies and special offers to reduce the amount owed and the like. I was not able to repay the debt that was racked up by the games credit card companies play such as the over the limit fees and past due fees.
As it tunrs out I ended up owing more than I actually charged on this account. On my credit report it showed this debt as a "charge off" account and then low and behold I am served a summons to appear in magistrate court before the end of (30) thirty days or I would be forfeiting my right for dispute. This was in March. Of course I caved and we set up payment arrangements and I am still paying.
My question are: First, if I hadn't done what I did would I still have to be paying now? I know this debt was way past the statute of limitation according to New Mexico Law. Second, how can a law firm that is based in Colorado be able to cross state lines and prosecute or seek payments for a charge off account from someone who doesn't live in the state in which their offices are located? Third, where is the money I am paying going? Is the former creditor seeing this money or is it some third party or the attorneys? Fourth, why hasn't these attorneys sent me a summary of amounts paid instead of just letting me know they received my payment. I mean how will I know that I am close to being paid off. The amount I was notified I would have to pay varied greatly from the attorney's representative told me on the phone by almost $1,000! When I was notified by the court and its decision I was stuck with attorney fees, court cost, the original debt and 8.75% annum. If you ask me I got screwed! Fifth and last, is this all bogus? I mean what will happen if and when I stop paying? Will more amount be added in the course of paying them off? Will I ever be done payig them off? I need some advice.
Please help because if these attorneys or doing this because they can it needs to be dealt with especially since everything is in such a crunch. I know millions of people that owe their creditors thousands of dollars more than what I owed this creditor and I don't hear about them going after them. I mean what is a measly $2000 to a creditor hat makes Billions in revenue? Like I said please help.
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