I have a Children's Place cc and I have not been able to make the payments on it for about 8 months now. I have been very ill, had to quit my job, and have been in and out of the hospital, so needless to say, I have no money and no way to pay them. They have referred my account to a debt collection agency called CTI who is threatening to sue. I told them I have absolutely no money right now, but they are rude, crude and nasty when they talk to me. What should I do?
2007-02-08 07:49:34 · 7 answers · asked by alahan15816 1 in Business & Finance ➔ Credit
Ask for a manager, explain the situation and see if you can convince them to work out a delayed payment.
They can, they will sue. THey have nothing to lose, and you pay all the charges they incurr when you lose.
Work with them.
2007-02-08 07:53:19 · answer #1 · answered by wizjp 7 · 1⤊ 0⤋
If they say they intend to sue, they mean business. Legally, they can't say they will sue you unless they really intend to do so.
The poster who said if you pay them only 5 bucks a month they can't sue you is incorrect. They can sue you even if you are making payments. The law says they have to accept a payment of any amount and credit it to your balance, but if they arent satisfied with the amount, they can sue you
If you want to make small payments of like 15 a month or something, call them, tell them you are going to pay that amount a month and what day to expect it each month. If you do not want them to call you, tell them, and they legally have to stop calling. They can, however, send you letters offering settlements or what not
2007-02-08 10:08:31 · answer #2 · answered by Together 4 · 0⤊ 0⤋
They will not stop until you pay them. Chances are Citibank has charged off your account and sold it to the collection company for 50% of what you owe. The collection company will get a judgment for the money and it will show on your credit for 7-years.
2007-02-08 07:57:55 · answer #3 · answered by ? 7 · 0⤊ 0⤋
They won't sue. I've been threatened like this before. Try to talk to the manager and explain your situation. If they're still rude, give up and start getting ugly with them. Then pay when you have the money. Otherwise, it'll sit for 7 years.
2007-02-08 08:40:23 · answer #4 · answered by Anonymous · 0⤊ 1⤋
as long as you are sending them some sort of a payment they cant do anything. even if it is only 5 dollars a month.
2007-02-08 07:57:12 · answer #5 · answered by Anonymous · 0⤊ 1⤋
Everything must be in writing and DO NOT COMMUNICATE over the phone.
Good luck.
2007-02-08 21:18:45 · answer #6 · answered by DaMan 5 · 0⤊ 0⤋
I doubt it, it is too costly to sue someone for such a small debt.
2007-02-08 07:53:12 · answer #7 · answered by Anonymous · 0⤊ 2⤋