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Originally posted by Extralien
You are correct of course.
Here it is..
Make a payment through the post or deliver a sealed envelope with the payment inside. With this payment you write a simple basic letter stating that this is the full and final payment.
If they credit your account with the payment , that's it, all clear, they've accepted your payment as full an final payment. No more debt.
If they take you to court over it, you've got a copy of your letter which includes the payment details and date and account number etc. plus your latest statement showing the payment was accepted..
They've not got a leg to stand on.
They were able to keep afloat due to plentiful low interest offerings and bankrupcy laws that were very generous to consumers. As the economy headed toward a long-predicted recession and bankruptcy laws changed, interest rates went up to correspond with increasing risks.
The reality of course is that most people who are incapable of controlling their spending do not bother with actually getting their balances on 0% or other low rates offers.
You made the foolish mistake of not being able to understand bankruptcy laws. I am sorry you are incapable of doing that.
...and now that its harder many people don't even bother trying, so they just go ahead and enter into long term default.