got myself into a hole and didnt make some payments for a while... now the credit is trashed... and the demands are ridiculous! trying to work out anything with the collectors! any advice??
2006-07-06 07:47:32 · 9 answers · asked by Melissa 1 in Business & Finance ➔ Credit
icsowesmemoney.... [quote] I would suggest talking to the collection agent with respect and kindness. That will get you alto farther than anything else [end quote]
Thanks for the laugh icsowesmemoney..........oh , hang on, still laughing.......
hang on.... still laughing
Ok...oops..... still laughing
Whew.. I think I'm finished laughing now.. almost lol.
yikes, figures that statement is from a collector
Maybe the collectors should try using respect and kindness themselves instead of threats, vulgar language and violations.
I do happen to agree (did I just say I agree with a collector?? lol) that using a full C&D while still within the statute of limitations is not the way to go.
I would suggest going to the site that I've listed. Learn your rights and use them. Learn to know if the collection agency is violating your rights and what to do about it. Learn how to deal with with collection agency's. What to do if you want to pay so they don't end up screwing you. Which they probably will even if they are paid.
lol Studly, yeah I was bad - hanging my head now (not in shame though, just don't want anyone to see I'm still laughing heh heh heh)
2006-07-06 17:35:04 · answer #1 · answered by echo 7 · 0⤊ 0⤋
I run into this problem all the time. I am a Mortgage Broker in Houston, Texas. The first thing to do is not to pay the collection agencies that have reported you delinquents to the creditors. The creditors have already written your debt off. That show a sign of fault and you really don't have the money. That's the problem in the first place. Stop using your credit cards. Only buy with the money that you have in your account. Continue to pay the bills that are current on time and pay the little ones off first. Then concentrate on the larger bills. Find a credit repair company to fight the past due bills. Then you will start restoring your credit.
2006-07-06 14:59:43 · answer #2 · answered by RG 2 · 0⤊ 0⤋
Echo...you so bad!
IC is right though. What you are trying to do is get the creditor to accept a ridiculous payment schedule, and once it's been accept they are legally stuck with it. Once that check is cashed that representes a legal contract.
In other words, you are trying to void the old contract with a volation (look it up in a legal dictionary).
Sorry, but you will find that unless done properly it won't work. And don't try sending a $5 check with (account paid in full) on it either. The cases I've read about didn't stand up very long before the judge.
All you will actually do is insult the creditor. If you owe $2000 , and expect to get away with paying $5 a month for the next 35 years? Nuh-uh....that turkey ain't gonna fly!
2006-07-07 19:25:36 · answer #3 · answered by Anonymous · 0⤊ 0⤋
"mail them am amount of $5 or more and continue that every month. If they cash your Money Order then they have agreed to the payment structure you have set and they can kiss your ***."
Sorry, that is absolute nonsense and totally untrue. There is no such restriction and no creditor or collector is obligated to accept anything other than what you agreed to pay in your credit card agreement.
Once an account goes to collections, the creditor will exercise it's 'acceleration' clause, which basically means the entire balance is due immediately - and collectors will certainly insist on exactly that.
Just trying to dispell some of the misconceptions people have !
2006-07-06 23:20:02 · answer #4 · answered by SciFiDiva 2 · 0⤊ 0⤋
MOM OF 7 is totally off her rocker.
A collection agency does not have to take your payments nor do they have to continue to take them.
I would suggest talking to the collection agent with respect and kindness. That will get you alto farther than anything else.
Try to work out a payment plan that is do able for both of you.
You could also try a credit counseling center to help you out.
Running will only incur more fees. Some one here will try to charm you with "Cease & Distist" letters. This will only bring lawsuits against you. If you send a c&d letter the only the a collector can do then is sue you. And if you are local and the amount is enough, they will do just that.
Good Luck!
2006-07-06 16:46:59 · answer #5 · answered by icsowesmemoney 3 · 0⤊ 0⤋
If you happen to settle any of the accounts for a lump sum not equal to what you actually owe and they accept it, make sure they put in writing that they will no longer attempt to collect the debt and that you have satisfied it with them. Because I did that with Cingular for a phone bill of like $680 and after like a year of them hounding me they sent me a settlement offer for half the amount, and I said ok, so I paid them and even kept copies of my paperwork as proof, then like less than a year later they called me and I still to this day get notices in the mail for the remaining amount. I HATE cingular, the my husband had run up that bill and then we split for other reasons and I refused to pay it and so did he, in any case I got screwed by both!
Good luck with it.
2006-07-06 14:53:50 · answer #6 · answered by Anonymous · 0⤊ 0⤋
first of all get your credit reports and dispute what you can. Call your creditors and try to work something out, if they say they can't work it out then ask for their supervisor. if you dispute it on the credit reports it buys you a little time to figure out how to solve the problem.
2006-07-06 14:52:12 · answer #7 · answered by notyours 5 · 0⤊ 0⤋
mail them am amount of $5 or more and continue that every month. If they cash your Money Order then they have agreed to the payment structure you have set and they can kiss your ***.
But if you have no intention of following thru, then file for bankruptcy.
2006-07-06 14:52:31 · answer #8 · answered by Mom_of_7 2 · 0⤊ 0⤋
CHECK OUT www.jicinvestments.com FOR MORE INFO. IT REALLY WORKS.
2006-07-09 01:45:39 · answer #9 · answered by Anonymous · 0⤊ 0⤋