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Originally Posted by bigdirty
First off not a loan it was credit card debt.second I know why penalties are there.I was hoping that if anybody knew if there was some sort of loophole that could help me. I was asking for help not a leacture. DAD.
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Credit card debt is a loan.
The only help I can give is this: If you were found in a court of law to owe the money, and the creditor won a default judgement against you, I don't think there's much you can do. If there is no judgement against you, you need to find out when the last time you paid any money on the debt. If it was more then 4 or 6 years ago, it should be past the statute of limitations (SOL). To find out what the SOL is in your state, do a quick search online and you should be able to find it. If you are past the SOL from the last payment you made (this includes garnished wages), then you should be able to tell them to kiss your butt. If you're still within the SOL, well, you're SOL.