2007-02-26 08:37:37 · 9 answers · asked by Anonymous in Politics & Government ➔ Law & Ethics
Like $500 from a towing company.
2007-02-26 08:40:34 · update #1
Like $500 that a towing company is trying to get from me.
2007-02-26 08:41:01 · update #2
It will show up on your credit report (if it hasn't already) and they will take you to court to collect.
2007-02-26 09:21:13 · answer #1 · answered by Kikyo 5 · 0⤊ 0⤋
They can start to bug you. Call your relatives and friends. Call your employer. It's not pleasant.
From a legal standpoint, they can ask a court to award them the right to take the money from your wages.
Collection agencies are willing to spend $1000 to get $500 from you, as evidence to their clients that they do what they need to do. They won't go away.
If you owe the money, they'll find a way to get it out of you.
If nothing else, your credit rating can be ruined. Not paying the $500 will cost you the inability to get a mortgage, a loan, or credit cards. Any cards you have: the interest rate can skyrocket.
Pay it.
2007-02-26 08:47:55 · answer #2 · answered by Jay 7 · 0⤊ 0⤋
It will hit your credit report and have a negative impact on your credit going forward. They may, still, hound you and take you to small claims court. Then you loose twice.
If you are not paying for a good reason, you should dispute the charge and inform the credit bureau of the same, however, if you have no good reason for not paying - such as you owe the money legitimately, you should pay up for your own good.
2007-02-26 08:47:00 · answer #3 · answered by cappy 3 · 0⤊ 0⤋
whilst they cost off a debt, it potential that they have got given up attempting to hold collectively it. yet whilst they offered the debt, then the series enterprise that they offered it to will proceed to objective and carry collectively it. whilst they have hit a brick wall or the statute of obstacles runs out for them, wager what, they sell the debt to a distinctive enterprise and the collections technique starts off yet back! What got here approximately with the vehicle is a undemanding prepare, in basic terms like with properties. A loan is taken out and the valuables is going to the guy making the money. in the event that they default, no rely if by no longer paying or by returning the valuables, the valuables is repossessed. (in spite of in case you turn it in, it extremely is nevertheless seen a repossession.) Then the unique maker of the loan sells the valuables now and back for the the rest cost of the loan, yet maximum circumstances for the utmost quantity they might get. in the event that they get the completed loan cost (which they not often ever do), then you owe them no longer something, yet whilst they get decrease than the the rest cost, you owe the version. and because they might shop advertising the debt many times, you would be greater useful off in basic terms attempting to the two make a settlement supply with the enterprise or pay it in finished. one greater ingredient: the myth of collections. maximum persons have self assurance that when a debt runs for 7 years (or the statute of obstacles) that it at once drops off. no longer real! What happens is, the unique maker of the loan sells it to a team enterprise. whilst that series enterprise has carried out all it may, it turns around and sells the debt to a distinctive one. etc. each and every time that debt is offered, the statute starts off over. So the 7 12 months ingredient in basic terms applies to the unique maker of the loan. After that, it ought to stay on your credit continuously, because of fact the debt ought to stay offered, and with each and each new series enterprise comes a sparkling unfavorable mark against your credit for non-fee. each and each of those marks will take 7 years to drop off, however the present collections pastime will stay. it extremely is why they sell the debt; you won't pay them, yet they proceed to smash your credit each and every time you do no longer.
2016-11-26 00:45:35 · answer #4 · answered by arlina 4 · 0⤊ 0⤋
If you continue to avoid them, and not make payments, they will eventually take you to court for it. Was it a check you'd written that bounced? If so, writing a hot check is a criminal charge. I had a check bounce in August that I didn't hear about because I got no mail for four months, which didn't allow me to pay it and the fee, and now I'm in criminal court for it. It really sucks. You should pay up now, and get it out of the way. Otherwise, you're setting yourself up for big trouble down the road.
2007-02-26 08:46:12 · answer #5 · answered by gilgamesh 6 · 0⤊ 0⤋
they might sue you. or maybe not, considering the relatively small amount. but it will definitely stick on your credit report for 7 years or so--you don't want that. you never know where you might be in 7 years and you might want to buy a house or a car or something like that.
is this a valid debt? if so, did you think about trying to pay?...maybe they would make a deal with you?
2007-02-26 08:47:29 · answer #6 · answered by njyogibear 7 · 0⤊ 0⤋
If it's a small sum - just pay it. It will be worth it in the long run.
2007-02-26 08:41:51 · answer #7 · answered by smellyfoot ™ 7 · 0⤊ 0⤋
nothing really you just end up having bad credit
2007-02-26 08:50:58 · answer #8 · answered by smilingontime 6 · 0⤊ 0⤋
they will destroy your credit
2007-02-26 08:46:26 · answer #9 · answered by ice_princess 3 · 0⤊ 0⤋