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Settling old debt - what stress!

April 4th, 2008 at 01:35 am

Alright, we'll soon start the process to settle the old debts we have. I'm very nervous about it, no..I'm downright scared. I have this fear that we'll wake the sleeping bears and they'll all come after us full force. I don't know that I can handle the stress of that right now. DH says he'll deal with them, though. He's much braver than I am in just about every way and I think he'd be able to handle it better.

At any rate, there's about $16,000 in old debt to tend to. I'm still trying to figure out the best way to approach this but I think I need to send them all VODs and go from there.

Wish us luck!

6 Responses to “Settling old debt - what stress!”

  1. sillyoleme Says:

    Good luck! Smile

  2. miclason Says:

    Good luck! Smile Remember: we are here, on YOUR side!

  3. Broken Arrow Says:

    Well, the good news is I think they kind of ease up when you start paying them. Sounds like progress though!

    Good words to remember by in your left column, by the way.

  4. merch Says:

    My advice is to start by calling just the largest and say look this is what I have. Tell them if they don't take that then you'll go to the next one and so on.

    I am a big believer in that people pay what they owe, but I do understand that the CC charge unheard of interest (BofA 29.9%) and charge high fees to jack up the paper they sell to collection agencies.

    So I guess I understand your position as long as you aren't taking advantage of it. Everyone deserves one mulligan.

    Well, good luck.

  5. nance Says:

    What does Dave Ramsey advise on this subject?

  6. DeniseNTexas Says:

    BA, most of them haven't contacted us in years which is why I'm so scared. It's been quiet and we're going to waken them!

    Merch, we'll start with the smallest and go up from there.

    Nance, Dave says basically to handle old debt like other debt. Just call and say something like "I have this much to give you for settlement. Send it in writing." and if they don't take it, move on to the next one.

    Ugh, it's very worrisome!

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