Creditors calling my house, my parents at work, and our cell phones at least 1 to 10 times a day..?

Question

I am 25yo student, currently no job and living with my parents. I have accumulated a lot of debt and obviously have one creditor calling my cell, my parents home, their cell phones, and their jobs. This big company calls at least 3-10 a day. Tell me I can go to jail, get sued, and when I try to ask about options they just tell me "They have to talk to my parents because even if I got a job there is no way I'd be able to pay it off." I owe them about $21,000 and there is no way my parents would pay them off considering that they tied up all of their money in a new business. They keep telling me that it is fraud because they say I have no intention of paying it, even though I told them that I did. One of their people even told my mom that I owed over $10,000 not telling her the exact amount. When I told one of their people about it they say there is no way that was said and all of their calls are monitored. There is no other way my mom would have found out. What can I do?

Answer 1

You need to get a job and pay your bills like the rest of us adults. The ONLY way this is going to disappear is to talk with an account manager at each location. Tell them your situation and ask them if there is any way to resolve this without them calling all the time. Ya might wanna try getting a job... if you show ambition in trying to pay them back, even if it's $10/mo each, it shows any court you may get involved with, that you're trying to pay... AND THROW THE DAMN CREDIT CARDS AWAY!

Answer 2

Well, first off...your situation sucks...I know...

They will say anything to scare you into payment, a law suit, a warrant for your arrest, garnishing future wages, future income tax payments....the list goes on and on...You need to find out exactly what the law concerning your credit and non-payment actions are for your state....

Maybe someone let it slip, or your mom is feeling you out to get an idea of the amount of trouble you may be in.

Next time they call ask about differed payment options and getting the interest rate lowered or see if you can get a lower payment amount if you pay in full or maybe 3 or 4 payments...

Can you go to work for your parents and at least make some money while you look for work?

Also, I suggest new phone numbers...and do all your correspondences via mail...don't give out the new phone number!
Tell them you don't own a phone if you have to...get everything in your parents name...so then you won't be lying...

Answer 3

If you live in Canada, the law states that creditors can not call 3 to 10 times in a day. They can not call on Sundays. Nor can they call between the hours of 9 pm and 8 am.
If you are 25, why not declare bankruptcy. Its on your credit raing for 7 years. Or better yet, find a part time job that will work around your school schedule. You may have to say good bye weekends and holidays.

Answer 4

First, you need to find a way to make a small good-faith payment. Babysit, get a part time job, something. If you're 25 you can earn this!

Say, $50 per month. Then YOU CALL THEM. You tell them that is all you can pay, and you want to know how they can help you.

Third, you tell them that they have phone numbers on record that are incorrect. Give them YOUR CELL PHONE and tell them the others are your relatives that have nothing to do with the account and you need them to delete the numbers from their systems. You can even say you moved if you want and maybe they'll delete them.

You can also call the BBB and file a complain that they threaten/harass you. But you need to do your best to be pro-active about it first, and see if the situation improves.

Answer 5

I don't know about collection agencies, but the Bank Secrecy Act says they can't talk to anyone about your accounts that isn't on them. If your parents aren't on the accounts, there is no way they can be held responsible. There are limits to what collection agencies can do, how often and when they call, etc. My best advice would be to find out these limits. Make sure you write down everything, time & date of calls, person spoke to, what was said. Or, if possible, record the calls, but make sure you tell them you are recording or it may be illegal. It sounds like they are past the point of collection and harrasing you, you may be able to take legal action. They are counting on you being young and ignorant and putting up with it.

Answer 6

If you are within the US- Creditors are only allowed to speak with you so many times per month. If they are just calling- don't answer. I am also not sure that they were legally permitted to discuss your credit and account if your parents names were not on the account. Also- you are responsible for the loan even if you do not feel that you can repay. You need to get some legal help.

Answer 7

creditors are not supposed to be telling anyone else but you that you owe money. the collection agency can get fined for that. here is the FTC website that will provide you with some answers on Fair Debt Collection
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm

Answer 8

Just don't write a bad check to pay the debt. They can't put you in debtor's prison in the US, but they can jail you for check fraud.

Answer 9

first of all they have no wright to be talking to your parents - notify them of that in writing or by phone.After that change( your )phone number and tell them you will correspond by mail only,this will relieve the pressure and give you time to get back on your feet.
Good Luck !

Answer 10

Maybe it's not too late - try for a consolidation.

Finding a job is the first thing I'd do, even if it means leaving school (dunno if you're studiing) for a year or two.

Good luck !