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Greets,
Here's the story. Back when I was in my early twenties and in school, I--to put it frankly--bombed my credit. This was approximately about 2002-2003
Since then, I've continued to pay my student loans, payed off my car loan and school loans but admittedly I never paid a couple of credit cards I had back when I was in school. The amount I owed was around 1000 dollars for each (without interest)
Fast-forward to today:
Lately I have been receiving calls about a personal loan which was supposedly taken out by me in 2007, but I know for a fact that I did not. I've checked my credit report, there is no such activity about any personal loan taken out etc.
To put it simply, the reason I know I did not take out a loan is that after I bombed my credit, I vowed to never use credit anymore, and I did a pretty good job of it, not buying things I couldn't readily pay for with cash. This is true even today (I don't own any credit cards and don't even have a true checking account instead opting for agencies to pay me with a payroll card or by check)
But anyway, the collection agency claims this personal loan taken out in 2007 was through GE Money Bank [?] in the amount a little over 1000 dollars.
I've asked for a confirmation letter, but the details they have sent are scant (likely purposeful) and did not include the original lender phone number. location the loan was taken out, or any other useful details for which to verify the validity.
My question is, what can I do? Do I need to hire an attorney? I understand with the economy being what it is, companies are getting very sly about making money appear from SOMEWHERE
Regarding my past couple of unpaid credit cards, although I feel bad about it, I do understand there is a statute of limitations for the time that company can collect or act legally on the debt. While technically still owed, in other words, it can no longer be reported on the credit report etc. Please correct me if I'm wrong....
Also, perhaps when my situation is better, I will pay those cards outright however at present it is not possible.
If anyone has any advice or suggestions, it would be appreciated. Mainly I want to know if it's worth hiring an attorney to deal with these people or if there's anything I can do.
Regards
Here's the story. Back when I was in my early twenties and in school, I--to put it frankly--bombed my credit. This was approximately about 2002-2003
Since then, I've continued to pay my student loans, payed off my car loan and school loans but admittedly I never paid a couple of credit cards I had back when I was in school. The amount I owed was around 1000 dollars for each (without interest)
Fast-forward to today:
Lately I have been receiving calls about a personal loan which was supposedly taken out by me in 2007, but I know for a fact that I did not. I've checked my credit report, there is no such activity about any personal loan taken out etc.
To put it simply, the reason I know I did not take out a loan is that after I bombed my credit, I vowed to never use credit anymore, and I did a pretty good job of it, not buying things I couldn't readily pay for with cash. This is true even today (I don't own any credit cards and don't even have a true checking account instead opting for agencies to pay me with a payroll card or by check)
But anyway, the collection agency claims this personal loan taken out in 2007 was through GE Money Bank [?] in the amount a little over 1000 dollars.
I've asked for a confirmation letter, but the details they have sent are scant (likely purposeful) and did not include the original lender phone number. location the loan was taken out, or any other useful details for which to verify the validity.
My question is, what can I do? Do I need to hire an attorney? I understand with the economy being what it is, companies are getting very sly about making money appear from SOMEWHERE
Regarding my past couple of unpaid credit cards, although I feel bad about it, I do understand there is a statute of limitations for the time that company can collect or act legally on the debt. While technically still owed, in other words, it can no longer be reported on the credit report etc. Please correct me if I'm wrong....
Also, perhaps when my situation is better, I will pay those cards outright however at present it is not possible.
If anyone has any advice or suggestions, it would be appreciated. Mainly I want to know if it's worth hiring an attorney to deal with these people or if there's anything I can do.
Regards
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