Telling lies to creditors -- did I just dig myself in deeper?

[NowImDownInIt]

When I had CA's calling me, I set up my voicemail through ATT (SBC at the time, the home phone service) and left my home phone on silent. I never checked the voicemail or ever heard the phone ring, but made sure the voicemail made it clear that it was me. I just couldn't deal with them. All my family and friends called my cell anyway because the number was local to them and I just used my home phone for outgoing.

[cityish]

I am seriously leaning toward getting a second phone line just for creditors. I don't want to spend the money on it. But the constant calls from creditors are out of control and it is depressing.

I am not even in collections yet -- except with my mortgage and HELOC -- so I can only imagine how the calls will worsen once I go into charge-off on my credit cards.

It's gotten to the point where I keep my cell phone turned off all the time because it's depressing to listen to "ring, ring, ringgggg" every 10 minutes only to see Capital One on the caller ID again.

With the cell phone turned off all the time, I'm missing calls from family and friends.

I think what I will do is change my cell phone number to a new number entirely and keep it private only for family and friends.

Then get a separate phone line and automated voice mail. Then I will distribute that one to all the creditors. Then they can call all they want and leave all the messages they want (which I will rarely check or respond to). And hopefully if they hear my full name on the voicemail they won't try to track down my business or family.

Does anyone know the cheapest way I can get a second phone line just for creditors? I could get a land line for about $18/month but I need voicemail on it. I thought I saw an ad on TV for some kind of phone service that was $10 a month but I can't remember the company or what it included.

[BigJohn]

Why not assign your cell phone to vibrate or not ring at all when a creditor or collection agency calls?

For friends and family, have your cell phone play a cheerful tune.

[cityish]

Why not assign your cell phone to vibrate or not ring at all when a creditor or collection agency calls?

For friends and family, have your cell phone play a cheerful tune.

I didn't know you could do that!

Time to pull out the user's manual!

[GoingDown]

I am seriously leaning toward getting a second phone line just for creditors. I don't want to spend the money on it. But the constant calls from creditors are out of control and it is depressing.

I am not even in collections yet -- except with my mortgage and HELOC -- so I can only imagine how the calls will worsen once I go into charge-off on my credit cards.

It's gotten to the point where I keep my cell phone turned off all the time because it's depressing to listen to "ring, ring, ringgggg" every 10 minutes only to see Capital One on the caller ID again.

With the cell phone turned off all the time, I'm missing calls from family and friends.

I think what I will do is change my cell phone number to a new number entirely and keep it private only for family and friends.

Then get a separate phone line and automated voice mail. Then I will distribute that one to all the creditors. Then they can call all they want and leave all the messages they want (which I will rarely check or respond to). And hopefully if they hear my full name on the voicemail they won't try to track down my business or family.

Does anyone know the cheapest way I can get a second phone line just for creditors? I could get a land line for about $18/month but I need voicemail on it. I thought I saw an ad on TV for some kind of phone service that was $10 a month but I can't remember the company or what it included.

Go to Wal-Mart, RadioShack, etc., and get a Net10 pay as you go cell phone. It costs about $15 per month if you don't use it much and it has voice mail included. I use it for my family and friends and important associates because Creditors can't find my phone number. Then I can answer my phone and know I'm not going to have to talk to a debt collector.

Or you could just use the new pay as you go cell phone number for your creditors and then let the number go after you file BK.

You should realize that any landline, even unlisted phone numbers, and cell phone numbers from carriers who require a contract (with monthly billing) can all be found out by creditors. The only thing they can't find are pay as you go cell phones because there is no credit check, and when you activate the phone if you are a little tricky about the information you give them (for example, don't give them your real name and address, etc.), there's no way for them to figure it out.

[cityish]

You should realize that any landline, even unlisted phone numbers, and cell phone numbers from carriers who require a contract (with monthly billing) can all be found out by creditors. The only thing they can't find are pay as you go cell phones because there is no credit check, and when you activate the phone if you are a little tricky about the information you give them (for example, don't give them your real name and address, etc.), there's no way for them to figure it out.

I did not know that.

I am learning a lot of things these days that I never imagined.



I will keep the tip in mind, thanks for passing it along!

[getmeoutofhere]

BigBoy...sounds like you and I are in the same boat...I had to bail on a ton of cc debt. About 150K of it Amex. I has 6 cards. Quit paying 2 in nov 07. Both charged off and gone. No calls anymore. 2 Others bailed in February. In collections now. Offers to settle for half. 2 others bailed in July. Still with OC to collect. In total, I had to quit on 22 cards. I get anywhere from 2-20 calls per day on me cell. I have probably 50 numbers stored in my cell. I program each one to silent else my phone would ring all day long. At the end of the day...I have a ton of "missed calls"..but guess what? Not one voice mail..These guys NEVER LEAVE A MESSAGE!

[fltoo]

Same here. All cc's have been charged off including second lien on house. Been one year and Countrywide, first lienholder, hasn't even foreclosed yet.

Chase has a judgment against me. I answered all calls, which surprisingly were not that many and told them I could not pay. I have not had a phone call in 4 months now.

BTW, BOA offered me a ten cents on the dollar settlement. Chase would not go below .80 cents.

[cityish]

My second mortgage charged it off and will issue a 1099C

I am so confused by this mortgage debt forgiveness act. I know that any home equity loan money that was spent to improve the property is exempt from taxes -- at least I think that's what I read --- but in my case, I refinanced the property so many times, it's going to be a pure nightmare to try to figure out what portion of the re-fi's were spent on home improvements vs. personal expenses.

If I was feeling frisky on some days I would turn my phone software off and answer the calls and mess with the collectors.

ROFL

I don't think I could pull that off so instead I'm going to go and get that MagiCall software!

[getmeoutofhere]

I am so confused by this mortgage debt forgiveness act.

What is the deal on this "act"? Is this something new? I have a second. Used to pay off all old credit card debt and bills a couple of years ago. Is there a way to get rid of it??????

[cityish]

What is the deal on this "act"? Is this something new? I have a second. Used to pay off all old credit card debt and bills a couple of years ago. Is there a way to get rid of it??????

I'm not sure but I think bankruptcy is the only way to get rid of it.

I am in a jam because I filed Chapter 7 six years ago. According to the new (2005) bankruptcy "reform" laws that were instigated by the credit card lobbyists, you have to wait at least eight years between Chapter 7 BKs. So that means my hands are tied for the next two years.

Of course six years ago I never in my wildest dreams imagined I would need another BK. But if I get hit with a huge tax bill on my HELOC 1099, or a wage garnishment, I may be forced to.

[fltoo]

What is the deal on this "act"? Is this something new? I have a second. Used to pay off all old credit card debt and bills a couple of years ago. Is there a way to get rid of it??????

We hijacked this thread. But, no, you can't get rid of a home equity loan. It is secured by your house. When you sell your house, it gets paid off.

If there is not enough money to pay all the mortgages on your property, as in a short sale, then the balance owed is forgiven as income with the new law. This is only on owner occupied houses right now.

[treehugger1]

I have a Citi account close to charge-off. They sent an offer of $.40 on the dollar. I have until the middle of next month to call them. They will accept payment plans on the remaining amount. This is essentially $3600 on a $9K cc account.

BOA offered $.20 but wanted it paid in six months. I couldn't afford that. It charged off and is now with a collections law firm out-of-state. I DV'd them and will answer any summons they send. The amount stated as owing is not even close to what I think it should be. I suspect this will move on down the road to some JDB.

I had 20 accounts. For a while I was working with just about everyone. Then I had some local folks file small claims. Two wound up with judgments, and my payment scenario evaporated. Of the 20 accounts, two will be paid in the next 35 - 40 days via wage garnishment, 4 are receiving payments through small claims mediation, 6 others have charged-off, and the remaining 8 are still in good standing. (Good standing means I'm trying to keep these manageable and keep them from charging off.)

Cap1 charged off 2 accounts and the other accounts I had with them are beginning to offer 50%. Unfortunately, the garnishment has me rethinking my plans.

The other issue is the tax/1099 issue. I'd be paying 28% fed + 9% state income tax on the forgiven amount. The sums are large, so I don't really see the benefit. At $.10 on the dollar, I'd probably bite.

I intend to keep working with those who are willing, let the garnishments peck away, and wait and see what the others do.

I get very few phone calls. As others mentioned, any calls that come into my phone "unknown," "private," or I've saved in the past as know creditors/collectors, have a ringtone of silent. I only see the calls, never hear them. I can store hundreds of numbers in my cell phone.

As BB2 stated, sometimes I'll answer just to see who it is. Chat with them as long as I can until they realize they just wasted 10 - 20 minutes of their time. I have several C&D letters out to collection agencies, and I like them to continue to play by the rules.

[ready2puke]

Sounds like you really have this down and am keeping a clear head..good for you. Please keep us posted as I am very interested in how the cc's work the settlement.

[treehugger1]

It would be easier if I was truely judgment proof, but I have a good salary. As I see it, there are a couple of options when your debt ship finally pulls up to port and you don't want to file BK:

1) You are completely judgment proof, which only implies there is nothing to get from you to satisfy the judgment.

2) You have no assets, but are a high wage earner that can survive garnishment.

Other than that, BK 7 or 13 is the only method I can see that will offer immediate relief and allow you to begin rebuilding your "credit" life.

However, I think in the next 12 - 36 months, the very idea of credit, how it is obtained, granted, and collected upon, is going to change dramatically.

In the meantime, I'll just move along and deal with whatever phone calls come up.