So I called GC services and the same guy I talked to and I had a more pleasant conversation. I agreed to pay $25 to promise that I would then pay $500. I got another loan, so I can pay it. He agreed to put me on a payment plan of $50 a month for 6 months, then we'll go from there. Is he being sincere or just trying to screw me again?
He seems like an okay guy, but I dunno if I can trust him to keep his word.
2007-03-02 14:06:46 · 9 answers · asked by cejones345 1 in Business & Finance ➔ Credit
So now I'm not going to get sued by citibank. Or so he says.
2007-03-02 14:07:16 · update #1
okay, I'm starting to think I am still too ******* naive. I moved everything into my other checking account, and I'll move it to my other bank in the morning. I can't believe I'm still this willing to trust people at their word. If he takes out more than the $25 we agreed upon, then I will know because the account will be overdrawn and I will tell the bank what happened.
2007-03-02 14:40:18 · update #2
I'm assuming GC is a collection agency.
I'm a little confused here. You owe Citibank how much??
You got another loan from someone else so you could send GC $500 towards the Citibank debt?
So now you have the original Citibank debt and another loan for $500?
I'll point out here, that they are continuing to add interest on to whatever you already owe Citibank so in 6 months, you will have sent them $300 and will have the overall debt will not have gone down all that much.
I don't know how much you can afford to pay these guys every month but you are getting killed in interest so you need to send more if at all possible and get this debt paid off as quick as you can. Collection agencies are a bear to deal with. Get any agreement you make with them in writing so they don't come back and change it on you. Find out what interest rate you are being charged right now and ask him if he'll reduce the interest rate to something like 9% if you double the monthly payment. He probably won't reduce it if you're only paying $50 a month.
And now you have the new $500 loan. Pay whatever you have to on that one too but don't be late on the payments. You don't need ANOTHER collection agency after you.
2007-03-02 14:35:40 · answer #1 · answered by Faye H 6 · 0⤊ 0⤋
What the hell is this question about? What is GC?
And, no, he isn't being sincere; his job is to keep dollars coming into the co. He doesn't care what he has to do to get that done. He is not a nice guy; he's a collections snake. He'll tell you whatever you want to hear in order to get a check from you. That's how he keeps his job.
Never give a collections co., CC co. or anyone else that you are trying to negotiate with electronic access to your checking account. They can take out whatever they want, and you'd have to prove in court that they didn't live up to the verbal agreement that you made with some stranger over the phone in order to get it back. If you are settling an account for less than what they say you owe, get that amount in writing before you send them a dime. Then mail them a money order. Never let them make an electronic withdrawl from your account.
Oh, and BTW, citibank will not sue you for several years after your last payment. If you are a couple of months overdue, they will sell your acccount to a collections co. for pennies on the dollar. That co. will threaten to sue you, garnish your wages, , take your house, etc. If they don't get paid, they'll sell it to another co.
If you owe enough money (several thousand), you will get sued eventually, but that will take two years or more from the date of your last payment. They threaten you so that you will pay them instead of your mortgage co, utility co., or buy food. It's a psycological game that they play in order to get you to put them at the top of your list of priorities. Pay them if you can, but don't let them coerce you into paying them what you can't afford.
2007-03-02 22:18:27 · answer #2 · answered by normobrian 6 · 1⤊ 0⤋
Always get things such as any verbal agreement,IN WRITING at times you may need to get it notarized, Now days ones word means nothing.
2007-03-02 22:20:44 · answer #3 · answered by sweettoni37 4 · 0⤊ 0⤋
Trusting a collection agency is like trusting a crackhead with your wallet.
2007-03-03 00:34:09 · answer #4 · answered by chuck allredd 1 · 0⤊ 0⤋
Not real sure what you're talking about. The only thing I can tell you is to wait and see. But be sure to tell him to send this agreement to you in writing.
2007-03-02 22:23:20 · answer #5 · answered by JR 5 · 0⤊ 0⤋
they cant sue you....omg if they say that they MUST do so by law. tell him he's' violating the fdcpa to threaten you like that.
they want the money now because they get the paycheck based on what they get out of you.
2007-03-03 01:33:00 · answer #6 · answered by tryinthis2 4 · 0⤊ 0⤋
I highly suggest you request all negotations be written out and a copy sent to you.
2007-03-02 22:14:29 · answer #7 · answered by MJ 3 · 2⤊ 0⤋
They are really shady. Watch them!
2007-03-03 03:22:52 · answer #8 · answered by Greg M 2 · 0⤊ 0⤋
do spend more professional time with him...
2007-03-02 22:10:11 · answer #9 · answered by syooq 2 · 0⤊ 0⤋