being sued for sears debt
What is the name of your state? Iowa
I am being sued for a credit card debt. the original line of credit was through sears and i believe it was $1000. due to some unfortunate circumstances involving the untimely loss of a younger brother i neglected to pay on this account. meanwhile i went to college and several years later i find out that sears had been piling on interest and charges to the sum of over $3000. after failing to contact me they turned it over to a law firm who is now suing me for a total of $5100 and some change. i am more than willing to make payments on a settlement but i'm worried because they are asking for an additional 19.8% interest on the settlement after a ruling. i don't make much money and will soon be facing student loan payments also. my questions are; can i negotiate with the law firm about the settlement amount and the interest rate? also, who will determine what kind of payments will be made and what criteria will be used to set that amount? I would like to get this taken care of but i don't want to be paying on this forever. also, how will all of this effect my future credit? am i screwed for life?
how do i find out when it was considered default?
ok to answer- i went to school in iowa, never left.
the sol defense seems good but how do i find out the official start/end of the sol in my particular case? the papers i have recieved and transcribed earlier (more info) refer to a date of august 18, 2001. are they implying that 2001 was the beginning of the default period and thus the beginning of the sol? because i believe that date refers to when Great Seneca Financial Corp. took over the collections on this account. furthermore the fact that the amount of 3269.99 is 3 times the original line of credit would imply that the account had been default for a long time wouldn't it? i just want to make sure that the sol is up before i claim that it is.
being sued for sears debt
state : florida
I am currently being sued for a sears debt also, and the actt was closed in 97 but a lawyers office took over the act and took it to court and was awarded a judgement in august of last year,they also got a court order to seize funds in my banking actt ,in august of last year ,now they have sent me a questionare about current earnings and property holdings i or my spouse may hold.is there anything i can do about this ? is there also a sol in florida concerning this type of debt,what should i do? any help would be appreciated since i currently cant afford to pay them what their demanding.