Does a collection agency have the right to demand payment immediately.?

Question

I owe a debt of about $4300 i want to work out a payment arrangement but the collection agency said they dont take payments.They will take $3500 but i dont have that much money I live in Michigan and I am not sure what my rights are here on collection practices.

Answer 1

Yeah they can demand it, whether they get it or not is another thing!

Answer 2

Obviously you ignored the bill until it was finally turned over to collections, so you are way beyond the point of making payment arrangements. If they are offering to let you out of $4300 for $3500 I'd try to get it and pay them and be done with it. They don't have to accept any less that what you owe.

Yes, they can demand full payment.

What they can't do it outlined below.

Answer 3

They have the right to demand it and you have the right to say no. Look at it this way--suppose you don't pay. They get a judgment against you and they can garnish a portion of your wages. They have to settle for payments anyway. Go to Consumer Credit Counseling in your area and they will make the creditor take payments. Or, you could file bankrupcy and they get nothing. Tell them if they don't accept the payment, you'll bankrupt the entire debt. They're just playing hardball with you. Don't fall for it.

Answer 4

They are extremely limited in what they can do. Get a notebook and a folder and keep track of everything they send you, and if they call, write down the name of the caller and anything significant they say. If they violate the law, you may be entitled to damages, although you'll still owe the debt.

Michigan has debt collection statutes which can be found here:
http://www.legislature.mi.gov/(S(chdeaffsmmjem52ea4rjuail))/mileg.aspx?page=getobject&objectname=mcl-act-70-of-1981

Answer 5

call the wellbeing middle and ask them approximately their coverage. If this is their coverage, that could desire to be the clarification you have been contacted via a set business enterprise. I think of hospitals have lots of clientele who pay on the invoice, and consistent with probability this is overwhelming. besides, touch the sequence business enterprise, and if the quantity isn't what you experience it would be, you have 30 days to respond from the date of their letter. you are able to dispute the charges and meaning there'll be a time of discovery. they'll could deliver you each and every and each element relating to the invoice (who it rather is from, all your previous funds, and so on.). in the event that they do no longer respond rapidly to you, or if there's a discrepancy, you funds to them heavily isn't valid. --- Toni D.

Answer 6

If you don't have the money you don't have the money. They want ice water in hell too. They either work it out, or let them take you to court where the judge will put you on repayment schedule. The creditor is being a dick head. It's just an intimidation tactic.

Answer 7

Yes. But, just because they demand it, does not mean you have to pay it! Go talk to a bankruptcy attorney. Call the legal aid service in your state. Not only is aid available in the form of public defenders for criminal actions, but it is available in ALL states for low-income individuals in civil actions.

Answer 8

Yes, you owe them the money, so they get to set the terms of repayment.

Answer 9

You can't squeeze blood from a turnip. If you don't have it, you can't pay it. Collections agents are just really pushy. Tell them that you'll pay them what you can, take it or leave it. I bet they'll take it, though.

Answer 10

yes,there is agencys that consolidate all debt,that they will except payments,search web consolidate debt