1. use low introductory rate (0.9%) offers to your advantage
2. ensure you set monthly payments to ‘automatic’ payment
3. use the credit available to pay-off ‘purposely created’ debt
4. pay ONLY the minimum amount
5. withdrawn from Bank ‘A’ line of credit, paid off thru Bank ‘B’ issued credit cards…
6. invest the withdrawn amount at Bank ‘C’ at 4.1 %

7. before the low rate offer expires, pay it off by withdrawing from your investment

You should offer a percentage of the debt. You should stipulate in the agreement – if they agree to take a percentage, after payment, they will agree that the debt is paid and no longer collectable.
Be sure to have the agreement in writing!!!

Be sure that when you come to an agreement and when you pay that both the agreement and the payment is filed in the case file !!!

If the estate doesn't have enough, then the entire inheritance is sold, given to the credit card companies, and then the rest of the debts are cancelled (the credit card company has no choice but to write it off.)

Which is why, even if the person has a perfect FICO score, that the banks are taking some risk when loaning money.

KITE the credit card companies before they get all absorbed (nationalized) therefore before government finds a way to pin you down to your debts for life

If you belong to a credit union or there's one that serves your office, they will be able to put you in touch with a reliable organization.

Here's a booklet that will help you:

http://www.consumerlaw.org/initiatives/credit_counseling/content/Cconsumerfactscreditcounselin.pdf

If the child purchases the house from them the seller needs to keep the money out of the banking system otherwise that money would now be the asset. But I'm sure you already know that.

Once the person is deceased the only thing the child needs to do is open the letters send a copy of the death cert. (it doesn't have to be certified unless they contact them and ask for one) and also include a note that says Deceased has no estate.

I've never after 2 1/2 yrs had any of my father in laws creditors write me again.

Glenn is correct – This all depends upon what you'll do with these newly cleaned up credit cards….. It's a falacy that people can get out of debt by placing all their credit card debt onto their house. They usually run up their cards again in a few years and are then worse off than before.

Put the money to the house. Start paying EXTRA to your credit cards. Start cutting up your credit cards. Then start sending extra to your house.

FREEDOM!!!!!!

The definition of a "written" contact is one where all of the payment issues are completely spelled out. The monthly payments, the timeframe, everything.

An "open" or "revolving" credit line does not fall into this catagory because the terms of the agreement change every month. One month you owe $200, and the next you owe $400…..and each month you have a varying amount of payment. You can pay it off, and then run it right back up again….that's why they call it a 'revolving" line of credit.

This is also clearly spelled out in the US UCC codes, and many states specifically label credit card debts as open accounts.

Georgia is one state that specifically labels credit cards as NOT being a written contract. Please refer to the link below.

Once again….poor answers with no source of information cause a lot of damage here on Yahoo. If they don't provide you with a source for further examination it's best not to believe it.

I was able to increase my $ 50,000 maximum credit available to a whooping $ 75,000 … used it to pay off ‘purposely created debt’..which I use to invest
a a high rate at another bank

Generally you would go by the state where you have set up residence – employment, utility bills, pay taxes, etc.

Though the creditor/collection agency can actually chose which state they want to file a suit in, if they chose to file.

Since you are out of the collecting SOL in both states, send a SOL letter that includes the fact you are out of the collecting SOL for "both" states.

You might go to the following link and read the SOL letter that is listed.
http://whychat.5u.com/nottoca.html

You can also scroll down to the bottom of that page and click on the home page.
Once on the home page, scroll down to near the bottom where the states are listed.
Click on both states. The statutes you would need for the SOL letter will be listed.

edit+++++
Anonymous -
As for that link you posted, I think Studly gave an excellent example by listing the FCRA statutes of the reporting SOL.
I really don't understand why you posted that link to begin with when the facts of the reporting SOL were posted in there.

As for the "proof" of collecting SOL for you (and for the OP)
If you would take the time to read the state statutes for both Texas and Missouri, you would see for yourself that there is indeed a collecting SOL, as there is in "every" state.

Texas statutes for the collecting SOL and the statutes to prohibit the re-aging of the collecting SOL
§ 16.004. Four-Year Limitations Period
(a) A person must bring suit on the following actions not later than four years after the day the cause of action accrues:
§ 16.065. Acknowledgment of Claim An acknowledgment of the justness of a claim that appears to be barred by limitations is not admissible in evidence to defeat the law of limitations if made after the time that the claim is due unless the acknowledgment is in writing and is signed by the party to be charged.

Missouri
§516.120. Within five years
And the statute that places credit cards in a 4 or 5 year SOL (the 4 year SOL would be the UCC. If the card is a store card claiming the UCC statutes is possible)
432.045: 2,3.

Anonymous, I don't want to get into a gripe match with you on this and I was not the one who gave you the negative vote. If I had, I wouldn't have seen your edit.