I had one credit card. Good credit. Lost job. Consolidated old car loan into credit card and owed $12,000. Placed on hardship plan at $170 a month. Could not manage an exact day per month to pay the $170 and was dropped for beiing late too often. Chase Bank willing to settle for $7000. Did not have it. Fees and interest compiled and they sold to a collection agency. Debt reported at $18,000 now. Collection agency has called as representatives of agency lawyers. I have not returned one call or responded to letters sent to me. I live in Massachusetts.
Does anyone know what my consumer rights may be, if any?
What can the collection agency do to me? What can I expect? Do I have any recourse?
I have only my home with equity left over. However, I cannot possibly pay more per month on a mortgage. I am at 4.6% now and the % rate would only be greater. I have an old car and truck. No toys. I am rather frugal and broke!
Can anyone help?