Renegotiating Old Bills

What to Do About Old Bills

I am so overwhelmed by bills.

I became critically ill in 1999 and during 2000 and 2001, I was unable to meet my credit obligations.

To add to the problem, I was terrified about my health and kept putting off dealing with the credit once it became critical. I am now well, working again, and I wish to take care of all my debts, despite their age of 5-6 years.

Should I write to the creditors and negotiate a repayment? Bankruptcy is not an option. The debts are mostly utilities, credit card and medical bills.

Pam

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I don’t know what state you live in, but it sounds as if the Statute of Limitations - the period during which you can be sued for non-payment of the debt - on your debt is almost expired. It is generally no longer than six years and is sometimes shorter.

It sounds like your creditors are not bothering you right now. I would consult with a lawyer and go over your debts. See what you still legally owe and what is now too old to be collected.

I would hire the lawyer to negotiate with your creditors. He will have a lot more success than you will and he is unlikely to say something that re-establishes an expired debt. See Debt Negotiation for reasons why it is best to have a professional renegotiate debts on your behalf.

Call your local bar association’s Lawyer Referral Service and ask for lawyers who specialize in consumer debt issues. They will give you the names of two or three lawyers, who will be willing to give you a free consultation.

I admire you determination to try to do the right thing. I hope it works out well for you.

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