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Thomas Swartz
Thomas Swartz, Attorney
Category: Legal
Satisfied Customers: 3175
Experience:  Twenty one years experience as a lawyer in New York and New Jersey. Former Appellate Law Clerk.
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Being in debt to the tune of about $30,000, both in taxes and

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Being in debt to the tune of about $30,000, both in taxes and credit cards, and on the advice of several attorneys and from reading, I've chosen the 'do nothing' strategy. I'm living on social security alone, have had chronic fatigue for 20 years, having received disability for the last 7 years before retirement; now that's social security. I'm 67 and have been told I'm "judgment proof," since I live only on Social security, and have modest possessions. Question: I've been submitting an explanatory letter with each zero I add as I travel towards default. Is here any reason why I shouldn't be submitting such a letter? It acknowledges that I'm unable to pay the current payment, reviews my history of medical and financial difficulties, and asks that they consider forgiving my debt.
Submitted: 7 years ago.
Category: Legal
Expert:  Thomas Swartz replied 7 years ago.

Writing such letters probably won't do any substantial harm. But by writing such letters you could be acknowledging the debt, which could potentially be used against you if they did decide to take you to court. It is also conceivable that by acknowledging the debt, you could be extending the statute of limitations (the time they have to commence a legal action against you).

Customer: replied 7 years ago.

Hi Thomas,


Thanks for your reply. It sounds as though my letters, though well intentioned, were probably unnecessary, if not an outright mistake. Am I reading you correctly? More specifically, what are the odds that such outcomes as you suggest might actually occur, or is this too hypothetical to guess at.

Expert:  Thomas Swartz replied 7 years ago.
It is too hypothetical. It may not have been a mistake. Who knows they may forgive the debt. If the debt is small, it may not be worth it to them to pursue you.

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