Someone called me from a collection agency to tell me this was my "last chance" to avoid going to court over a $2000.00 balance from 5 yrs ago. Was she serious? Or was she trying to scare me?
2007-01-24 03:19:13 · 7 answers · asked by im cool 2 in Business & Finance ➔ Credit
Yes, but you should try to call the agency and work out a payment plan. This happened to me. I saved up about 3/4 of the balance due, and called them up. I told them I would send them that amount right then as a payoff and settlement, or I would continue making the minimum payment. They settled for that amount. They do want to reclaim most of the money, but if you are nice to them when you call, you will find they are very willing to work with you on it. They dont want to waste time and money on court any more than you do.
2007-01-24 03:29:18 · answer #1 · answered by Chevy Girl 3 · 0⤊ 0⤋
yes,they are serious. The credit card company sold your debt to the collection agency and they will take you to court over past due amounts. You should work out a payment plan with them and slowly pay the debt off to avoid further problems. You credit is already bad, you don't want it made any worse.
2007-01-24 11:22:31 · answer #2 · answered by thunder2sys 7 · 1⤊ 0⤋
Typically, they don't, but it is an option for them. Most likely trying to scare you, but, again, it is an option for them. Usually they only do it in states where laws allow them more freedom to collect from you. I haven't known anyone in Texas get sued, but in Iowa, they can get the court to garnish your wages for a legitimate debt.
Debts do not erase after 6 years. They should drop off of your credit report after 7 years, but the debt is still a debt that you owe, and they can attempt to collect no matter how far back it goes.
2007-01-24 11:23:00 · answer #3 · answered by Blunt Honesty 7 · 0⤊ 0⤋
It's a scare tactic. It costs more than $2000 just to take you to court. Fight back...Tell them that you have bankruptcy proceedings in progress and they won't see ANY money if they persist.
Send them $10. If they cash your check, they have indirectly accepted your payment "schedule" and they have to start all over with the proper notices.
2007-01-24 11:32:00 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Uh, yeah, pretty much any collection agency will take you to court for any debt.
If you owe it, you pay it, hon.
2007-01-24 11:26:21 · answer #5 · answered by Phoenix, Wise Guru 7 · 1⤊ 0⤋
she was serious. they will serve you with some papers, and they will actually take you to court..been there done that. if it was really from 5 years ago, it will probably have soon because after 6 years (I think) they have to erase all debt.
2007-01-24 11:23:54 · answer #6 · answered by nicky1119 2 · 0⤊ 2⤋
Yeah....they can do it. I, ahmm, am going throug with a similar situation.
2007-01-24 11:34:03 · answer #7 · answered by Anonymous · 0⤊ 0⤋