Purchase of bank judgement
My husband and I live in Southern Nevada. My husband received a letter dated June 29, 2010 from a debt collector informing him that they had recently purchased a bank judgment account against him totalling $16,064.68 from the original creditor. He fell behind on this credit card bill 4 years ago when we were living in California. The original judgment garnished whatever was left in our bank account (around $3,000) 3 years ago. Nothing was garnished ever since because our bank account now only has enough money for daily expenses. The truth is, we longer have any assets left. Our home went into foreclosure 3 years ago. We moved to Nevada in 2007, my husband is retired and I am unemployed. We are living with relatives for now because we cannot afford to pay rent. We now have a bad credit history because of our difficult financial situation. We are left with a small fixed income from my husband's social security and meager private pension retirement benefit. We cannot even afford a bankruptcy attorney, so we are just hoping the statute of limitations will run out for all our debts. Should we write the debt collector to inform them of the reasons why we cannot pay this debt? If so, will contacting them by letter renew the debt or reactivate the statute of limitations? Please advise us on how to deal with this problem. We are feeling really desperate!