I owe this particular company (credit cards) and now I am able to finally start to pay the monies that i owe.......i have written to the company the lawyer they retained, and i even sent my first payment that i promised to pay every two weeks.......the retaining lawyer for the company went and filed a summons against me, even after i told them that the firm that was assisting me would be in contact...then the attorney told me that the company does not have to take the payment that i can afford.........Is this legal......
2006-10-24 05:38:33 · 6 answers · asked by Anonymous in Business & Finance ➔ Credit
When you accept a CreditCard, and begin to use it, you have effectively AGREED to the TERMS & CONDITIONS...
You had no problem with this as long as you were the recipient of the benefit. Apparently you fell into some sort of hardship & didn't pay (I am giving you the benefit of the doubt as to the reason why... and not just assuming you were irresponsible)
If the company has turned it over to lawyer, then your chances of getting the company to work with you to resolve it are almost NON-existant. In most cases, the accounts that are turned over to lawyers are accounts that have been in collections for an extended period of time & had no effective response or reply to attempts to negotiate and allow an opportunity for payments.
It sounds to me as if you most likely ignored mailings and/or phone calls to the point that they had no other option.
Not only can they tell you that they payment you want to offer isn't enough of a payment, now that they have an attorney, they can garnish your wages & place a lien against your property or your income tax refunds until you satisfy the balance you owe, the collections & attorney fees are paid, as well as the court costs.
It is in your best interest to find a way to negotiate an amount for the payments and pay it. Not as a settlement... you want to pay the debt IN FULL (so as not to have Charged-Off lingering for years on your Credit Reports). Even if this means going without certain luxuries, like eating.. save some money, eat at home... and get it PAID.
I am not alone in thinking that it is very sad that some people act like 3 year olds when it comes to debt & credit. If you want the privledge of using someone else's money, then be RESPONSIBLE..... how would you be acting if you had loaned moeny to someone & couldn't get it back?????????????
PLEASE.... irresponsible persons with debt cost the rest of us in higher interest rates & annual member fees. If all debtors/person's with credit handled their credit responsibly... then the overall cost savings to consumers would be ENORMOUS!!
2006-10-24 06:06:38 · answer #1 · answered by Bama 5 · 0⤊ 0⤋
Well, technically, yes.
You had a contractual obligation to repay the credit the company supplied you, and you did not uphold your end of the bargain. Technically, they have the right to sue you for the money you owe them.
That being said, they also may be more interested in reaching an agreement with you for payments over time, then to bear the cost of going to court.
You are dealing with the wrong person at this point.
The attorney is getting paid to go after you, not to setup a payment plan.
Talk with the credit card company directly to see if you can settle the matter with the payment plan you have in mind. If you get something in writing from the company, that will trump their lawyers lawsuit.
Get everything in writing.
If you need time, ask the courts for an extension to the court case. Provide the judge with a copy of a letter that you will draft and send to the credit card company outlining any agreements your reach.
Send them another check putting in the memo something like, "payment 2 of (however many number payments total)".
Make sure to get the front and back copy of the check from your bank after it has cleared in case you need to show proof of payments made.
Good luck.
2006-10-24 12:46:57 · answer #2 · answered by Gonzo 4 · 0⤊ 0⤋
Yes, and it's a crying shame the government does nothing to control these companies. I think they let them do whatever they want to do. I am so glad there is not such a thing still as debters prison because I'd still be there, although the way things are going I think that's next.
2006-10-24 12:50:13 · answer #3 · answered by Midge 7 · 0⤊ 0⤋
i dont think i have ever heard of this kind of thing. they may just be pursuing there rights of the property and towards you i think instead of writing you should just contact the company or maybe they have already turned it over to your credit bureau and when that happens you just have to pay it to the credit bureau that took it over not the company. just do a credit report on yourself it is absolutely free at annualcreditreport.com and i promise its free just see if thats particular thing is affecting your credit
2006-10-24 12:42:13 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Yes, it is and by sending a payment to them, you lengthened the statue of limitations and took even more responsibility for your debt.
2006-10-25 22:40:30 · answer #5 · answered by Mariposa 7 · 0⤊ 0⤋
yes it is and it is a clause that big companies should throw out i am in the same problem they closed my acct and sent my acct to the collectors after i made a payment to visa
2006-10-24 12:41:09 · answer #6 · answered by lostrelic 4 · 0⤊ 0⤋