Got first dunning letter, what should I do?
I recently received a demand letter from NCO for a very overdue credit card balance of $18,000 (their amount) to Chase bank. I was paying regularly until I lost my job last April. Since that time I also lost my home and am currently living in my car with no income.
This past week they have been calling my relatives and leaving messages on their machines. My mother is elderly and in poor health and they were asking her questions about me.
I want to pay the debt since it is mine but I'm in no position currently to pay it or to be harassed by these collectors. I don't want to declare bankruptcy.
I was thinking of responding to their letter by sending them a certified one, stating the facts, being honest, and just seeing what happens next.
Any thoughts, ideas, stradegies would be appreciated.