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LegalKnowledge, Attorney
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We had an AE card that was closed over 10 years ago. We were

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We had an AE card that was closed over 10 years ago. We were turned over to a collection agency & made an agreement for payment We paid every month for 8 years & finally received a letter stating due to the age of the debt it could not be reported. We opted to stop making payments as we had paid 2/3 of the balance & are struggling to keep afloat as we are seniors Now they are threatening us again What are our options
Hi! I will be the professional that will be helping you today. I look forward to providing you with information to help solve your problem.

Good morning. I certainly understand the situation and your concern. While the debt may no longer be reported, it does not prevent them from suing you, if you breached the agreement for payment with them. With that being said, your first option is to try and negotiate with them again, for an amount then is less then what is currently owed, to settle the debt in full. You want to ask them to discount the debt or make them an offer to settle, if you can make a lump sum payment. If not, you can see if they will agree to an amount and allow you to pay it off. If you fail to pay or work out an agreement, then they may sue you. It would be at that time that you can raise any defenses that you may have and make them prove that you owe the debt and did that you did not breach the agreement. If they sue and obtain a judgment, you would need to pay. If you are unable to pay, they would have to enforce the judgment and go after any money or assets you may have. If not have none, then their judgment would only be as good as the paper it is written on, since you have nothing for them to go after, to satisfy the judgment.

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Customer: replied 3 years ago.

The card was co signed by my elderly aunt to whom they are now threatening to lein her home since we were the only sighners on the card& made all payments can they go after her

If she co-signed, she could be liable since she guaranteed payment on the card. They would have to name her and include her in the lawsuit.
Hi David, I wanted to follow up in regard to the bad service rating you gave me and see if there is anything else I can answer or clarify. The negative rating does have an effect on me, so if you can share what the problem was, I would be happy to respond.

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