I contacted one of my creditors, explained my situation, and they've agreed to waive the $5000 extra in interest fees, and will accept a montly payment on the principle amount without adding additional interest. So every penny I send will go to the amount owed. Is there anything I should know before signing the papers agreeing to this arrangement? Can the collector later require that I pay the $5000 of extra interest fees and more? According to the collector, as long as I make monthly payments as scheduled on the principle amount, they will not take me to court for a judgement, or interest fees? Has anyone else been offered this type of arrangement? According to the collector, since I don't have any assets and I'm on a fixed income, they'd rather work with me, than take this to court. Thanks
2006-12-12
06:39:42
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7 answers
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asked by
Anonymous