If you have a bill that is in collections do you have to pay it all at once?

Question

its is from my bank account that was overdrawn

Answer 1

How long has it been in collections?
At any rate, pay it off a little at a time if that is all you can afford to do. The collection agent will try to harass you into paying all of it, but will take what you send.
Keep in mind that this sort of debt stays on your history even when it is paid off. If it is Chexsystems, this service lets banks know your banking history and most banks use it these days. It still may be difficult or impossible to get another checking account even if you pay off the balance owed. The bank which contributes the information to Chexsystens just has to mark the balance as paid off once it is paid, but your history is still available to subscribers of the service.

Here is a faq sheet for Chexsystems if that is who has the account:

Good luck

Answer 2

Banks prefer to get leveled with the outstanding amount, but if you show reasonable cause and pay whatever you can whenever you can, it's speaking for your good will. Just keep in mind that the bank might not allow you any other transactions involving your bank account unless the account balance is 0 or higher. See if you could work out an installment plan acceptable to your financial situation and the bank.

Answer 3

Once it is in collections, it is up to the discretion of who bought the account. Most will make payment arrangements and sometimes even offer a settlement amount if there is a lot of finance/extra charges on top of the original amount.

Answer 4

Contact the company and arrange a payment schedule. Confirm what the interest rate will be. The company will more than likely accept your suggested schedule as long as it's reasonable. Once they see you have kept a regular payment schedule and paid your debt, they may help you to regain a good credit rating.

Answer 5

You can try to work a payment plan with the bill collector, but there is no law in most states requiring them to take partial payment. Failure to pay can lead to court, and possible judgements against you.

Answer 6

you can work something out. next time be more responsible and watch what you spend.

Answer 7

send give them something so that they will stop buggy you

Answer 8

no you can make an arraignment