ithe limit on this card was 1600 i now owe 2500 due to interest i tried to settle this account last year with 1600 and they refused what do i do now
2006-09-25 04:03:48 · 8 answers · asked by friendlysweetloud 1 in Business & Finance ➔ Credit
Write them a letter and sedn what you can and ask them to waive the interest and if they send the money back you done your best. If they accept the money and contiues to take your money and not waive interest stop.
2006-09-25 04:06:40 · answer #1 · answered by Anonymous · 0⤊ 0⤋
Well, if they ACTUALLY take you to court, its doubtful you could win because they will have copies of all your receipts. I would just send in a payment amount that you can afford, or call them and talk to a manager in the collection department and tell them you would like to work out a payment arrangement and ask if they could waive the late and over the limit fees. If this doesn't work, try applying for a new credit card with a higher limit than you owe and transfer that balance over to the new card. If they actually take you to court, which they threaten and never actually do, they'll get a judgement, then you have 30 days from then to appeal the court's decision, which you won't have a leg to stand on, after the 30 days, the court will set it up so payments will come directly out of your paycheck. Most companies don't want to go that route because they end up getting far less than they would if you just make an arrangement with them.
2006-09-25 04:14:53 · answer #2 · answered by Sandi A 4 · 1⤊ 0⤋
You may have a chance of getting the amount due lowered if you have a sympathetic judge and can prove you just don't have the money to pay the amount.
I would suggest you cancel the account immediately (it is most likely dead already, though). Usually, if you find you just can't afford your cc bill anymore and you call and cancel the account and talk to them about it, they'll stop charging interest and fees. Honestly, cc companies would prefer to get some of the money from you than keep charging you til you can afford none of it.
I've found if you deal with them up front about these things, they're pretty lienient. However, if you say nothing and let the balance on the card grow and grow and never pay on it, they're less likely to cut you a break. As my mom always says, better to send them just $10 a month than nothing.
2006-09-25 04:13:57 · answer #3 · answered by Lauren L 2 · 1⤊ 0⤋
My dear friend,I will advise you to keep cool and see what the court have for you in relating to the cash issue.I am sure that you have signed a form that has something to do with the terms and condition when the card is issued to you.I can assure you that,the card company is going to dig out that form which you have already signed.
Meanwhile,my advise to you is
1) to terminate the contract with the company
2)U need to plead quilty and accept to pay them the amount you owe them in smaller amount over some period of month.
3)U will save alot of time for yourself.Not only that you will simpify things like that.If not you need need to spend extra money to take a lawyer to defend you.The c.card company will not cos the have their own lawyers already.And they will make sure you pay them what is due.
finally,the only way this company earn money is from the intrest from those who sgned up the card.I hope my advise will enlighterned you be for you approach them.
Sorry for all you are going through.I suggest that you remain calm.thanks
2006-09-25 04:25:51 · answer #4 · answered by emmanuel_vandmk 2 · 0⤊ 0⤋
You cannot and should not win. You spent money you didn't have then expect to get away with it, passing the cost of the things you purchased on to the rest of us who DO pay our bills.
WHEN they win you will have no credit or opportunity to get credit for the rest of your life. No buying cars, houses, vacations, AND they will get all the money you owe them by having the court order you to pay up.
(Why do you think they should have agreed to a settlement of 1600 when you OWE 2500? AND why didn't you pay the 1600 THEN if you had it? You are just trying to get free money and I have no sympathy for crooks!)
2006-09-25 04:12:47 · answer #5 · answered by Michael 5 · 1⤊ 1⤋
If they take you to small claims court they will likely seek a Judgment against you, then they can garnish your wages and collect the money owed. First, find out what the statue of limitations is in your state. If the statue of limitations as expired the case can be thrown out of court. Good luck!
2006-09-25 04:14:44 · answer #6 · answered by Joanna D 1 · 1⤊ 0⤋
PAY YOUR CREDIT CARD BILLS ON TIME ALWAYS!!!
2006-09-25 04:15:52 · answer #7 · answered by camus0281 3 · 0⤊ 1⤋
Man good luck......
2006-09-25 04:11:58 · answer #8 · answered by Holla 4 · 0⤊ 1⤋