Down to last debt in BS2 and

**ansley** · 03-28-2011, 01:52 PM

DH wants to skip it. It is a sleeping debt that he got before we were married. He wants to let it sleep and work on BS3. I want to get out of debt ASAP. What do you think is a good compromise?

TIA

**Greebo** · 03-28-2011, 02:28 PM

How old is it?
How much is it?
What's it for?

**ansley** · 03-28-2011, 02:42 PM

1)It is over 10yrs old. Last contact was 3yrs ago when the local branch closed. It is a law office not a bank.

2)I think about 15,000. Not sure how much it is because DH paid a little here and there when they would send him a letter. He hasn't refused but he will not pull his credit report.

3)He was in an auto accident and had to pay for the other guy's car and med bills.

Thanks.

**Greebo** · 03-28-2011, 03:06 PM

Originally Posted by ansley

1)It is over 10yrs old. Last contact was 3yrs ago when the local branch closed. It is a law office not a bank.

Interesting - I'd be looking into Statute of Limitations - though from #3 if this is a judgment, it may have no expiration.

And just cause the SoL may have passed doesn't mean you don't necessarily avoid moral responsibility for the debt...

2)I think about 15,000. Not sure how much it is because DH paid a little here and there when they would send him a letter. He hasn't refused but he will not pull his credit report.

Uh.

Wtf? Why?

**ansley** · 03-28-2011, 03:27 PM

It isn't a judgment yet. I think he went to the other guy's insurance when it happened and they set it all up. I'm not real sure.

Morally we owe the debt and I am not looking to get out of it. I want to put it in BS2 like it should be. He says pay as little as we can until we are forced to do something else. I worry it will turn into a judgment.

I think he is afraid to look at his credit report or he is afraid for me to see it.

**Greebo** · 03-28-2011, 03:37 PM

Message to DH: Grow a pair and read the damn credit report WITH YOUR WIFE. Avoiding reality won't make it less real it just makes you self-deluded.

(You may wish to cushion that message more gently than I did.

)

You're right - sleeping dogs go in BS2. Accumulate a pile of $$$ before you wake the dog so you can make a decent settlement offer.

**ansley** · 03-28-2011, 03:45 PM

Originally Posted by Greebo

Accumulate a pile of $$$ before you wake the dog so you can make a decent settlement offer.

That is kind of what he was saying. If they wake up, just give them what we have in BS3 then make payments on the rest.

**Greebo** · 03-28-2011, 03:49 PM

I wouldn't start thinking of money earmarked for the sleeping dog as EF money or you'll psychologically have a hard time letting go of it if they DO wake up.

Pulling the Credit Report won't wake them up - but it WILL open your eyes as to your REAL situation as to the one he thinks he remembers.

**cottageliving** · 03-28-2011, 11:31 PM

Good luck on this --nothing to add just wanted to let you know I was thinking of you.

I'd bet that his credit report is probably better than he is imagining anyway.

**MsMarieH** · 03-29-2011, 07:55 AM

What does "last contact was three years ago" mean? That's the last time they contacted him or that's the last time he sent a payment? If he sent a payment three years ago that would have been when the SOL would have restarted. It wouldn't fall off his credit report until 7-10 years from that date.

I agree with the comment to pull his credit report. Sit down with him and make him do it with you.

I also agree to set the money aside to build up a potential settlement offer (separate from your emergency fund).

**jenloveschip2001** · 03-29-2011, 09:59 AM

I have a friend that was in a car wreck that was her fault and she didn't have car insurance. This is in the state of KY where car insurance is required. The other guys insurance comapy didn't do anything right off they let it set for a couple of years and then came after her. She thought she could ignore it and next thing she knows they took her drivers licences away and she couldn't have them reinstated until she sat up a payment plan with the insurance co. If she missed even one payment they could take her licences away again. She eventually ended up filling Bankruptcy on it. I don't know the situation of why you owe the money but I would be very careful and get this taken care of, don't put it off until later.

**ansley** · 03-29-2011, 10:20 AM

Originally Posted by MsMarieH

What does "last contact was three years ago" mean? That's the last time they contacted him or that's the last time he sent a payment? If he sent a payment three years ago that would have been when the SOL would have restarted. It wouldn't fall off his credit report until 7-10 years from that date.

3yrs ago the law office sent us a letter stating that the local branch was closing and we would need to send any payments to the main office. I do not know when he sent the last payment but it was months before that. I kept the last letter for the address but he didn't keep any of the ones prior to that.

The accident was in Dec and the law requiring auto ins didn't go into effect until Jan of the next yr.

He wants to skip this and jump to BS3. If we keep it separate we are not skipping to BS3. I thought at least 1/2 to each. He says at most 1/5 to BS2 and 4/5 to BS3.

My mom may get the kids this weekend. If she does I will try to talk to him about it again. Spring and fall I might as well be a single mom. He will be tired and I will need to be very careful.

Thanks everyone.

**NikoSan999** · 03-29-2011, 10:27 AM

Every time a payment is made the statute of limitations start over. Ms is right. The time is different from state to state. If this is 10 years old tho it has been written off from the original owners of the debt. The lawyers either bought the debt or working for whoever did. Also a lot of the so called "lawyers" AREN'T. We've ran into this. Be very careful before you wake these pit bulls up. They ALL want access to your checking or savings account and you can deny them that but at the point you contact them they will start hounding you with the phone calls. You can say no, you can't have it, I will send a money order but they aren't going to accept that.

If it has been 3 years since a payment has been made you could be very close to the limitation statues. Alot of states are 4 years.

If you insist on paying them have at least 50% of the money up front. And DON'T tell them that you saved for it. It's borrowed money otherwise they will assume you can come up with more.

One more thing. You want to pay this money because it's owed right? The money is actually OWED to the hospital or the person whose car it was. If/when you pay this the money isn't going to who it should...it's going to a company that bought the debt. The hospital has written it off years ago and the insurance company probably has also.

Contact the courthouse and find out if there is a judgement against him...it's public record for anyone to view. You don't need his permission. See if there's any liens against your/his house, car etc. Betting there isn't because they didn't get a judgement.

**NikoSan999** · 03-29-2011, 10:33 AM

Originally Posted by ansley

3yrs ago the law office sent us a letter stating that the local branch was closing and we would need to send any payments to the main office.

A law office that's a chain...hmmm...are you sure. Google the company name and see what comes up. I seriously doubt this is an actual law firm. Again, we had a pretender also. They lead you to believe they are in every way but it boils down to a regular old collection agency.
If you take the time to Google read more than 1 or 2 that come up.

**gmarie** · 03-29-2011, 11:10 AM

I would be concerned about him not wanting to check his credit. Have you ever seen his credit report? If not, how can you be sure there are no other debts you need to pay off in BS2?