My roomate is in debt. We send in a little a month because of certain reasons right now. So even if we are sending a small amount can they take us to court or whatever they do. If anyone actually knows the court process maybe you could fill me in on that as well.
2007-03-08 03:41:09 · 3 answers · asked by Anonymous in Business & Finance ➔ Personal Finance
It's your roommate's debt and not yours? You say "us".
Depending on the creditor - they are not likely to turn you over to a collection agency as long as you are making good faith payments.
You need to contact them directly and explain your position. Tell them what the "certain reasons" are - they might be willing to negotiate a payment plan with you. Don't wait until it's more of a problem than it already is.
2007-03-08 03:48:46 · answer #1 · answered by pepper 7 · 1⤊ 0⤋
Depends on what the credit was for. If it is for a car or house or boat...they can repo it. If it is for a computer you bought over the phone, it's likely they will send your acct to a collection agency. If I had more info I could help more. Talk to the creditor if they are in town and tell them the circumstances see if they will accept lower payments. The bigger companies don't care they want the money. You might consider consolidation
2007-03-08 03:47:47 · answer #2 · answered by dtwladyhawk 6 · 0⤊ 0⤋
Unfortunately I dont know the truth to this, but I have been told the same thing by different people... If you have a debt and you make a payment but the payment amount is less than they want (ex: they want $200.00/month but all you can afford is $100.00/month) and they refuse to accept your payment, then your debt is no longer valid. Another person added that they CAN still take you to court, but the judge would probably throw it out as long as they see you are honestly trying your best to get the debt paid off.
2007-03-08 03:52:17 · answer #3 · answered by Anonymous · 0⤊ 1⤋