What is the mininum amout i can give a collection company so that they do not take me to court?
2006-08-02 03:44:47 · 7 answers · asked by ROCKER CHICK 4 in Business & Finance ➔ Credit
i was paying it, until my son died and i had to pay for funeral costs etc, they were not willing to work something out.
2006-08-02 04:00:33 · update #1
Legally, once you have defaulted on a loan or bill they do have the right to demand full payment.
I disagree with the previous resonders who say to send them a tiny amount. Legally they do not have to accept it. And if it's not an "honest" effort they will ignore it.
For example, you owe $1100. If you offer $10 a month, that means the creditor has to wait over 10 years to get paid. No way will he agree with this. He will send you back your check.
You need to offer something that will not take longer then 2 years (1 would be better). So any offer of under $50 a month is not going to be considered an honest effort.
If you are going to have difficulty paying this, you will need to contact the collection agent and discuss your finances. If they won't work out a plan with you then tell they to forget it, and you will take your chances with the courts. In most states, the judge will order a payment plan that will fit into your budget.
If you do come to an agreement, be sure to demand that they agree IN WRITING to delete the negative report from your credit history.
2006-08-02 08:22:30 · answer #1 · answered by Anonymous · 2⤊ 2⤋
Nothing, I have so much unpaid debt but all they can do is call(get a different phone or #) and send you bills .I have not ever been to court from 3-4 years of not paying them. You will have bad credit though.
2006-08-02 10:52:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
You would have to ask them. But I think if you are making an HONEST effort to pay the bill ( a certain amount every month) they can't do anything in the courts, but it is ruining your credit. The bill is yours, now do the responsible thing and pay it!
2006-08-02 10:49:45 · answer #3 · answered by Flower Girl 6 · 0⤊ 0⤋
Any amount of payment will stop them .They don;t want to go to court either.
Just call cusotmer service and work out a plan. $50/month or somehting like that
2006-08-02 10:48:13 · answer #4 · answered by billyandgaby 7 · 0⤊ 0⤋
You can call them and see if they will give you a settlement or a payment plan. Most companies will try and work something rather than nothing at all.
2006-08-02 11:03:12 · answer #5 · answered by spice2621 2 · 0⤊ 0⤋
as long as you pay them SOMETHING every month, they cannot put your debt on your credit report or take you to court....send them $10 a month!
2006-08-02 10:48:11 · answer #6 · answered by brandiejs1979 4 · 0⤊ 0⤋
Don't give them anything. Your debt is not with them....it's just a threat...
2006-08-02 10:48:13 · answer #7 · answered by Anonymous · 0⤊ 0⤋