2007-02-17 01:53:58 · 7 answers · asked by Anonymous in Business & Finance ➔ Credit
Ok so, if they want me to pay $450 for three months and I send them at least $150 will they be satisfied and leave me alone?
2007-02-17 02:14:23 · update #1
There really isn't much that a collection agency can do to encourage you to pay your debts. They can send you letters. They can call you on the phone. They really just want to encourage you to pay voluntarily.
The bad debt will be put on your credit rating and harm your future chances of getting credit.
They can sue you and get a judgement against you. If you still don't pay, but are gainfully employed, they can get a court order to garnish your wages; but, this takes time and is usually done only for large amounts and where the person actually has the ability to pay, but refuses.
If you have a collection agency bothering you, then you can set the rules around where and when they may contact you. You can work with them to make a reasonable repayment schedule. Send $5 a week and then they won't even bother to call. They just need to see that you're making an effort. They're not going to waste their time calling people who are sending in payments - even if those payments are minimal. They're going to concentrate on the other people who aren't cooperating. So, be cooperative and pay it back as best you can.
2007-02-17 02:09:14 · answer #1 · answered by the foolish fox 3 · 0⤊ 0⤋
It really depends on the state you are in and how much trouble you want to get yourself into. Managing debt is something you should learn and focus on as part of being a responsible debtor.
I would recommend you join creditboards.com/forums and work with that community to do everything you can to make sure you take action on your debts.
Its easier to do it know then after everything is on your credit report or they try other means of collecting.
You can't avoid it and make it go away if that is what you think. 7 years is the default length credit on your report and a lot can happen in 7 years. You would pay more for your car, insurance, mortgage, loans and credit over the long haul then you would to take care of your debts today. Just keep that in mind.
Take care of it now or REALLY pay for it later. But i highly recommend creditboards.com/forums since it is a great site to learn your responsibilities and most importantly you rights when speaking to these agencies that pretend there are no laws protecting your rights.
Educate, learn and most importantly don't let them win or delay doing what you have to do to protect your credit and your rights.
2007-02-17 01:59:10 · answer #2 · answered by Byron M 3 · 0⤊ 0⤋
Depends on how big the debt is, if it's in the thousands, they won't just let go. There might be a legal action taken against you. Otherwise, they write it off, but it stays on your credit report for a while.
2007-02-17 01:56:02 · answer #3 · answered by tamara_cyan 6 · 0⤊ 0⤋
The collection agency will sue you.
2007-02-17 01:56:07 · answer #4 · answered by Vegan 7 · 0⤊ 0⤋
you get a trip to the court house where YOU will pay, plus more!
reflects on your credit history even longer.
Just pay them and be done with it before it snowballs on you.
2007-02-17 01:57:33 · answer #5 · answered by IndianaHoosier 5 · 0⤊ 0⤋
They can intimidate and cause bodily harm. Geez dont you watch Sopranos?
2007-02-17 01:56:58 · answer #6 · answered by Anonymous · 0⤊ 0⤋
they do wat the title says, collect, they start seizing your assets
2007-02-17 01:56:44 · answer #7 · answered by shiznizzal24 2 · 0⤊ 0⤋