This is pretty difficult to type succinctly, but I

This is pretty difficult to type succinctly, but I will try. About 5 years ago, I stupidly used up a couple credit cards to the max (total of about $3600), and have been so embarrassed about it that I haven't really followed up on it. These cards have since been charged off. I'm wondering what the best course of action is. I recently got married last year, and we want to buy a house eventually, but we never will with this adversely hanging in the balance. Thank you!

3 Answers

The accounts have already been charged off. Now, your best course of action will be to contact the CA and settle the account. You can also try for a pay for a delete agreement.


Check your credit report and try to find out whether or not these debts have been assigned to the collection agencies. If yes, then contact with the collection agencies and try to set up a payment arrangement with them.


What state are you in??  If you havent made any payments in the past 5 years, it is possible it will drop off your credit report in the next couple of years.  It is also possible it is out of SOL already.

How to Deal with Illegal Loans..OhioGal's Primer
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.

SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html

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