Any attorneys willing to give some advice

[TonyTank 0]

I'm being summoned to supplemenatry proceedings for a very old debt. Can you give me advice on what will happen, and what I should do? I've only ever gone to court for a parking ticket, and not sure what steps I should take. Will the judge lower the judegement, allow payments etc..

[Krip 2]

How old id the debt? How large?

We've read about some business folks buying old debts for pennies on the $1. Some of the loans are so old they aren't even legally collectable.

Warning I'm not a lawyer have you tried google there should be some news stories about this type of business.

[cocheese 0]

Ask for the skydiver discount.

[MrBrant 0]

Quote

Ask for the skydiver discount.

Is that a group rate on the court fees?

[Morrison79 0]

I AM NOT A LAWYER!!!

But I have had a lot of debt problems in my past.
Twice I have been taken to court and both times was able to settle for less than I owed.
How big is the debt they are trying to collect? What was it from?
If your talking about a small amount you may not need a lawyer but if it's in the thousand's than it's probably in your best interest to consult an attorney.
You never know what you are going to get when you go in front of a judge.
If your debt is old enough you may not be legally responsible. If I remember correct after 7 years they can't try to collect. If you pay anything on the debt though than they have 7 years from that date to try and collect.

[lawrocket 3]

Here's my intial advice:

http://www.dropzone.com/cgi-bin/forum/gforum.cgi?post=882788#882788

My second piece of advise: Rarely has a person EVER been upset with the value I have given him or her with a consultation. Drop a C-note on a consult and it may help you nicely.

My wife is hotter than your wife.

[TonyTank 0]

the debt is about 6 years old, and less that $3000. It's an old credit card which I had problems with (late fees charged when I payed a week before due date etc..) Eventually I was stupid and never paid them again after a few disputes. The original balance was about $1200 now over time they're looking for almost 3000. It's not the amount i owe so much, as it is I'm not sure what to expect, and how much I'm able (if i even am) to bring the amount down for pay off

[TonyTank 0]

lawrocket, I read your thread. You have great points for sure. I'm not looking so much for a plan of action though. More of a general "what's it like, and what should I expect." I judt don't have any experience with this.

[lawrocket 3]

If six years old, the odds are that the statute of limitations to collect has lapsed.

Unless it has proceeded to judgment. There are just too many uncertainties in your facts.

My wife is hotter than your wife.

[Krip 2]

Hi Tony

Good luck
Your honor per Tony Tank case law DZ.com

[kelpdiver 2]

Quote

If six years old, the odds are that the statute of limitations to collect has lapsed.

Unless it has proceeded to judgment. There are just too many uncertainties in your facts.

I've seen a few stories in the financial/money sections lately about the methods of debt collectors, including going after debts that the lender discharged. I recall some tricks to keep that clock restarting as well - new activity resets the limit in theory.

I have no idea what to expect, but the OP might find some good information in those articles about which debts are valid.

Add: if there is negotiation over an amount, keep an eye on how the event will be recorded in your credit files. In the worst case, a payoff now for this nearly extinguished (records go 7 years) debt will show up as a current event and slam your credit score.