Open Forum → Re: What happens when someone has a negative bank account?

said by nonymous:

Can you clean up your credit report as easily. Plus maybe you can stop them calling can you stop them from getting a court judgement against you with one letter.

One letter may stop harassment but it will not stop the process.
Plus line said will one letter clean your credit allowing you to have decent credit again. Guess if you never have to use credit again you are fine.
Your insurance is usually more and if you move lights and phone or cable require deposits. It will still affect you in many ways. Some employers even use credit checks when hiring new workers.

said by 40757180:

Any debt is only on report for 7 years. It's illegal for debt collector to post date debt so it can only be on your report once. Regarding lawsuit, they need evidence that you owe money, often time being it got sold couple of times before lawsuit is filed, the evidence is lost.

said by guppy_fish:

A judgment is good for 7 years, at which time it can be extended again and again if one so chooses to have the court re-affirm the judgment, done all the time.

said by 40757180:

Any debt is only on report for 7 years. It's illegal for debt collector to post date debt so it can only be on your report once. Regarding lawsuit, they need evidence that you owe money, often time being it got sold couple of times before lawsuit is filed, the evidence is lost.