Negotiate a Debt Settlement

I owed comapny card some money. The case has been forworded to General of Attorney office. What does it mean?

I owed chase credit card company around $5000 five years ago. Recently I checked my credit report and found they sold my debt to a debt collector. On the report, it stated the debt is $10K now. I would like to pay off my old debt, so I called the company. But they told me I should contact the State general of Attorney. What does it mean? Is means I lost my time for debt negotiation? I have been out of country for the past five years and I have not got any mail regarding my debt from the company. What should I do? I am in Michigan, but they told me the case has been forwarded to Iowa. Why is that? The statute of limitations in Michigan is 7 years. It should start from the date I have not paid for my bill or from the date the debt collector bought my debt from the company? I owed credit card company around five yars ago, but the debt collector listed on my credit report from last Nov. What should I do? Are they going to freeze my bank account?

Public Comments

1. a simular thing happen to me I joined a gym fell behind in paying $1200 behind a year later they send a bill through a collection ageny the bill had collected intrest now it was $2500 the collectors agreed if I paid the $1200 I would not have to pay the crazy intrest so I paid the 1200 up front for you keep trying to get in contact with the debt collector and try to work out a deal that is good for you
2. This is a scare tactic....the attorney general of any state is going to be too busy to deal with $5K on credit card debt.... Paying off old credit card debt that is > 5 years is always problematic....It will fall off your credit report anyway in 7 years....Paying it off won't result in a dramatic improvement in your credit score...Perhaps you should just sit back and let it slide? It's up to you...By contacting this debt collector, you might be needlessly opening yourself up to aggressive collection activity. If you make a payment on this debt or acknowledge it in writing....you will reset the statue of limitations.....