2007-02-18 03:40:20 · 8 answers · asked by keithzgirl 1 in Business & Finance ➔ Credit
They can tell you anything to get their money. Threats like jail, calling your family, your job, neighbors, and friends are illegal, but they do it anyway.
2007-02-18 03:57:03 · answer #1 · answered by Ti 7 · 1⤊ 0⤋
Yeah good advice Brad since they're generally the people that will set you up on a repayment plan .... How about you explain you situation and do an income and expenditure list (even send them a copy) and make them a reasonable offer of payment. It is bound to get you alot further than hanging up on them. You can generally negotiate a lower repayment plan with reduced or no interest. If not you'll have to speak to a debt management company (If you're in the uk the cccs and the cab - citizens advice bureau are free and will give some awesome advice)
2007-02-18 12:24:22 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Yes, they can and in some instances it's a viable option to avoid some nasty collection processes and credit damage.
Lets say on your auto loan, you have a 'free payment' built in, meaning you get to miss one payment to be made up at the end of your loan. Now if you have an account facing listing with the credit bureaus or they're going to take you to court. It would make total sense for you to take advantage of that free month in your auto loan to take care of your bill.
Another scenario:
Lets say you're claiming you can't pay a 500.00 bill in a timely manner with a payment plan. When investigating your circumstances, they find out that you spend 100.00 a month for cable tv - it would make complete sense for you to drop an extravagance (cable) to take care of your repsonsibilities. If you gave up cable for 5 months, you could get your bill paid and then just restart your cable service after you've taken care of your responsibilities.
2007-02-21 20:15:24 · answer #3 · answered by siren381 2 · 1⤊ 0⤋
Look up and understand the 'Fair Debt Collection Practices Act". Also are any of your debt collection accounts from any of these companies on this list?
http://www.manews.org/1006razamoney.html
Also look up "Certified acts of terrorism" and think back to May 1st 2006. What happened that day? Interst rates been going through the roof on you with no change in debt to income ratio?
2007-02-18 13:32:49 · answer #4 · answered by Anonymous · 0⤊ 0⤋
they can, but never do that. Do not let them bully you. Do not get behind one other bills to make this guy sahut up...if starts being a jack*ss again hang up...you shouldn;t take finincial advice from soem lowlife in a cubical.
Work out a real payment plan or deal, get everything you can in writing...and get current....stay current...pay off your debt.
Check out Total Money Makeover by Dave Ramsey
2007-02-18 11:44:50 · answer #5 · answered by Anonymous · 0⤊ 0⤋
they can tell you what ever they want but if i were you i would just ignore their taunts....they say thing's like that so you'll pay the debt you owe them
2007-02-18 13:43:06 · answer #6 · answered by Anonymous · 1⤊ 0⤋
They can say pretty much anything that they want to. Their JOB is to get money out of you. There's nothing illegal about saying, "Pay me first."
2007-02-18 11:57:39 · answer #7 · answered by Bostonian In MO 7 · 0⤊ 2⤋
Of course they can tell you that. It doesn't mean it's smart or that you should do it.
2007-02-18 12:15:06 · answer #8 · answered by Box815 3 · 0⤊ 0⤋