Should I send them money?

Question

This debt collector has been calling for weeks demanding full payment on a credit debt I havent been able to pay for a year. My husband has been out of work, and his unemployment ran out. They call daily leaving messages, and have hounded neighbors looking for me and called my mom and were pretty nasty to her.
This debt is mine there was no cosigner. I cant sleep at night and every time I try to talk to these people they demand full payment of 4000 dollars. They are rude and quite mean to me.
I dont want to talk to these people any more. I can send them a small payment .Should I do that and just send a couple small payments a month? How can I get them to stop. I dont have thousands of dollars. They nearly demanded I open an unused line of credit to pay them. But i wouldnt be able to pay high interest on that.Hopefully my husband will find a job soon.I feel bullied and I cry nearly every day. Please help.

Answer 1

Well, first of all, take a deep breath and have a seat. Get a cup of coffee and listen up. Here is the real beef. Credit companies that use bullying tactics that you INTERPRET as bullying and/or intimidation are illegal by the FTC and the Consumer Credit Protection Act. The companies's job is to use information that they collect in order to have a debt to them repaid. HOWEVER, frequent phone calls and rude and intimidating phone calls are severly illegal by most state statutes. And phone calls to the relatives or friends of a person who has incurred the debt and discussing this account with third-party members is also very illegal. The bill is with YOU, NOT with your mother. They do not have the legal right to harrass her. They call contact her and ask for your whereabouts, but it is illegal to discuss the matter with people that you have not authorized to discuss the matter on your behalf.
ALSO: you may wish to find out the exact dollar amount that you owe, and try to set up a payment arrangement with the credit company that issued you the loan. MOST credit companies are willing to wrk with you if you initiate the payment plan. If they call you, they are less likely to work with you, because they have to keep trying to find you. A credit company CANNOT refuse a payment that is sent to them in an attempt to pay off the debt. HOWEVER, you also need to realize that the payment can wind up going to pay the interest rather than the principal. If you are able to set up a payment plan that works within your budget, then do so, but try not not to let them set up the terms in their own terms. A credit company's mentality is that they are the most important bill that you have. Period. NOT!!!!!!!!!!!!!!!!! You have other bills that need your attention also, and making them realize that you wish to truly settle the debt is of utmost importance, but it not the ONLY importance. And they also need to know that they are not authorized to make harrassing phone calls to neighbors or friends either. If they continue to do this, I am quite sure that a visit to your county DA's office or better yet, a phone call to your state attourney general's office will curb that BS. BUT DO NOT open another line of credit to pay off a previous one. Call them and try to discuss the matter with them. ALSO, most credit companies will freeze the interest once a payment aggreement has been reached. Maybe this one will too. And if another person calls you or your relatives or friends, get the employee's name or employee number, and call your local DA's office and find out what avenues of approach are available to you in this event. I certainly hope that this helps you. You take care, and good luck to your husband and you.

Answer 2

those tactics by the credit company are illegal... contact your Better Business Bureau about the collection agency and ask them for a referral to a credit counseling service or contact Legal Aid [ both are in the phone book.] I have never been in this situation but I don't think you should send any money until you get some professional advice. And DEFINITELY do not let anyone bully you into starting another line of high interest credit. Good luck dear, you shouldlike a decent person caught in a bad situation.

Answer 3

The collector cannot discuss your debt with anyone but you. If he/she has, contact the collection agency and ask them to stop. If it continues, you can file a complaint with the FTC. Keep a record of all phone calls they make to you , neighbors, family, etc. Names of callers, the phone number called, who they spoke to, including messages, time of day, and date.

If you just send them a small payment, then they will continue to bother you. Call them and ask them if they will accept a partial payment. Always get their name and title. He/she must give you their real name(s). That's the law. If they are stupid and say you must pay the whole thing, then ask for a manager.

When you speak to the next person, ask for the name and title. Write everything down the date, time, names, titles, and what was discussed. Do not stop asking for the next level of management untill you reach someone who will listen.

When you speak to the manager, offer to make a payment that you are absolutely positive that you can make. Once you make a deal, you must follow through. If that person accepts your offer, get his/her name, title, and an address so you can mail a letter to them with the terms of the agreement, unless he offers to send you something in writing.

You may want to review the Fair Debt Collection Act. You have rights and it sounds like they have been violating them. If all else fails, and they keep on hounding you or refuse to negiotate the amount you will pay, I suggest you contact the the FTC in writing, with a copy to the collection agency.

Good luck, I hope you guys get outta the hole....

Answer 4

It is an awful feeling and I am sorry that you are being harrassed by these people. Check this link... http://clarkhoward.com/shownotes/category/12/103/358/
The collection agency may be out of line. You do have some rights here. They are not to threaten or torment you.

Also contact the NFCC at nfcc.org or call 800-388-2227 for help in managing and paying the debt.

Answer 5

Not sure what state you are in but there are several Credit Counciling agencies out there that will help you set up a reasonable payback plan and get rid of the collectors. DO a search on yahoo with your state name and Credit Counciling most of them are free.

Answer 6

Its not worth losing sleep over, if you have to for your own sanity,change your phone number.
It is against the law to call or talk to other relatives or neighbors about your business affairs, they are way out of line, the only person that they can discuss the matter with is you.