I lost a vey good paying Job 1 yr ago and am working for Min wage Collections agencies{Calling themselves Law Offices] are sending letters. What can they do Credit is already ruined> Wage Garnishment? What else?
2007-03-17 07:19:20 · 4 answers · asked by ? 1 in Business & Finance ➔ Credit
Don't avoid them. (Don't let them harass you, but don't avoid them either.)
Have a conversation with them about the situation. Be calm. Don't let them try to bully you. Ask about payment plans. Document who you've spoken to and when. (That will be valuable info if they actually do take you to court. It is less likely the court will allow them to garnish your wages and/or take your property if you've made attempts to work out a plan to pay.)
If you agree to a payment plan, document all the details of the conversation. Ask them to send you details of it in writing. Then stick to the plan. Do NOT take their word for it. And when you send payments, be sure that you keep proof (don't send a money order without at least making a copy of it first.)
Do NOT give them any details about your physical address, nor allow them to draft out of a bank account (unless you want to see that account drained.) If they insist on drafting from an account to set up a payment plan, go get yourself one of those free checking accounts everyone's offering these days and only put in $1 more than the draft amount.
If you have anything that's worth anything, you might want to consider selling it to get some cash to pay off this stuff (or at least to keep it from being taken.) Of course, cash can also be "attached" if anyone knows you have it. So, be careful with that.
I've been in this exact situation and you can get through it. I was out of work (at least, any kind of work that didn't pay me less than 1/10th of my former income) for more than three years. It's taken me another three to start seeing the light at the end of that tunnel, but I'm almost out of debt (and was never taken to court.) You can do it. Don't give up!
2007-03-17 07:42:40 · answer #1 · answered by ISOintelligentlife 4 · 0⤊ 0⤋
They can sue you. I just got a summons last week to appear in court. Bad thing is they can't even provide me any information about the card. If they are calling you telling you they are law offices, when they are not, they are violating the Fair Debt Act, Section 807. You can take legal action against them. I wish you the best of luck.
2007-03-17 20:41:10 · answer #2 · answered by Mom of Three 5 · 0⤊ 0⤋
Once they take you to court and get a judgment they can attach bank account, any property you own including vehicles and garnish your wages.
2007-03-17 14:23:37 · answer #3 · answered by ? 7 · 0⤊ 0⤋
IF U AREN'T MAKING MUCH $ I WOULD'T WORRY ABOUT IT. THEY HAVE TO LEAVE YOU WITH $ TO LIVE OFF OF AND U CAN'T SQUEEZE WATER FROM A ROCK
2007-03-17 14:28:15 · answer #4 · answered by carly sue 5 · 0⤊ 0⤋