The card was from Bank of America and the orginal amount I owed was $700.00. I know that over the years I have paid the $700.00 dollars back and then some, but with the interest I am not able to keep up with it or pay it off. I am wondering how can I settle on this account because the debit is 3,000 dollars now and with some outside collection agency. I made an agreement with them to pay $200.00 dollars for 3 months because they were threating to take me to court, although I knew that I probably could not make all the payments. I made two and third did not clear my account.
Now the agent is harrasing me again. Being very rude and I would like to just settle for an amount less then 3,000. I was thinking of taking 1200.00 dollars from my 40k plan and asking them to settle the debit with that. They are so rude and mean and I have no experince with this so I don't know how to go about this. Please help I really don't want to go to court, have my wages garnished or pay a lawyer
2007-05-17 17:23:20 · 5 answers · asked by lil2spanki 1 in Business & Finance ➔ Credit
.I would ask them if they will make any sort of deal with you if you pay it at once. I had a 1800.00 bill with a hospital collection agency. They told me I could make payments for a set time, I think 6 months, and pay it all....OR I could pay 1,250.00 at once...right away and it would be done and over with. They will bug you until they get their money...but on the other hand...they do want money as quick as possible. They can be rude...but the collections people are human too who have probably had money issues themselves. I would call them, explain your situation...and see what can be done. And be nice to them..even if they are rude at first. Good Luck
2007-05-17 17:37:00 · answer #1 · answered by Anonymous · 0⤊ 0⤋
credit card debt sucks...my boyfriend is going through the same problems you are, except he's about $15,000 minimum in debt and has already had court papers delivered by the sheriff. I'm actually suprised that they didn't try to settle with you already??? All of his credit card issuers tried to settle for like 1/3 of the amount he owed. They really can't do anything if you're making an attempt to pay the credit card, but then you do have the interest constantly building up. I changed my house phone number b/c I couldn't stand the people calling all the time. You could try to cut a deal w/them, but if I were you, I would make sure to have everything in writing, so they can't change their mind in the future....good luck and if i can be of any more assistance email me.
2007-05-18 00:34:29 · answer #2 · answered by Jenn 2 · 0⤊ 0⤋
Alright, to stop the harassing calls you must write a letter asking the agency to cease their phone calls and to only contact you by the mail. This letter must be notarized to make it official. Next, may I suggest a site that has the steps to take in making a settlement. http://www.thecreditrepairmanual.com
Best of luck,
2007-05-18 08:58:13 · answer #3 · answered by Anonymous · 1⤊ 0⤋
You should try a pay for deletion form letter.
ALL FORMS MUST BE ACCEPTED IN WRITING AND SENT VIA CERTIFIED MAIL TO PROTECT YOUR LEGAL RIGHTS IN A COURT OF LAW.
Good luck.
2007-05-18 01:35:59 · answer #4 · answered by DaMan 5 · 0⤊ 0⤋
I think that you may want to see one of those non-profit agencies that help people pay off their debts.
2007-05-18 00:50:08 · answer #5 · answered by Peggy Pirate 6 · 0⤊ 0⤋