Something I need to know. I had a previous debt with Best Buy, a laptop, and I owe $1800. They sent it to a collection agency. I am trying to pay, but now after tax season, I owe over $2000, so it is going to be a while before I can pay. I tried to talk to the person, but they are still insisting that I pay over $200 a month. What happens if I don't pay? Are they going to send me to court?
2007-03-01 07:41:41 · 7 answers · asked by Christine J 1 in Business & Finance ➔ Credit
Here's a list of things debt collectors can and cannot do.
http://www.ftc.gov/bcp/conline/pubs/credit/fdc.htm
In my experience Best Buy's credit service is a rip off.
Good luck.
2007-03-01 08:28:49 · answer #1 · answered by ModelFlyerChick 6 · 0⤊ 0⤋
They can take you to court, they can attempt to garnish your wages, etc.
Your best bet is to borrow the money from a friend or family member that will allow you to pay off the balance in a way you feel you can afford.
The collection agencies do not have to agree to or offer any payment plan and have the right to continue with what ever collection procedures as they see is fit.
If you can't borrow the money and don't have anything of value you have that you could sell or pawn, you should look into getting a part time job that will allow you to pay the 200.00 a month that they're requiring to allow you a payment plan.
2007-03-01 14:37:34 · answer #2 · answered by siren381 2 · 0⤊ 0⤋
They probably will. Why did you owe the IRS two thousand? You are doing something wrong here. The IRS has first crack at what you are making now so I think you had better find a second job to pay the collection agency-those people can get ugly! Good luck--
2007-03-01 07:52:02 · answer #3 · answered by Anonymous · 0⤊ 0⤋
i work in collections for a major credit card company. what you should do is call the collection agency let them know that you can't afford to pay anything over the amount that you are comfortable with. So if you are comfortable $150 then setup payments with the company until it's paid off and also ask that you receive no fees because you cant afford it trust me they want their money more than anything
2007-03-01 09:38:33 · answer #4 · answered by Luv2Brie 2 · 0⤊ 0⤋
yes they can.But that could take awhile before reaching that point,although the amount you owe will continue to rise if you do not pay.call the collection agency and see if you can go into a payment plan.If they are insisting that you pay that $200.00 a month and you cannot pay it,explain that to them.They just want their money.They should come to some sort of agreement.Good Luck
2007-03-01 09:34:10 · answer #5 · answered by Bobbie 4 · 0⤊ 0⤋
they can but have you talked to somebody at the collection agency or best buy.
2007-03-01 07:51:53 · answer #6 · answered by milton b 4 · 0⤊ 0⤋
yes they will take you to court, get a judgement against you and have your wages garnished.
2007-03-04 16:03:32 · answer #7 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋