Could really use someones help before they come after me.?

Question

hello. I'm here for some advice. I'm stuck in a crappy situation. My debt is not a whole lot, but it's enough to drag me down, and put my credit at a nasty 500. And it's going to continue to go down if i can't get this paid off. I have called, and spoke to the places that i owe money to, but they are not willing to accept the amount of money i can afford to pay to them each month. I am currently 7 months pregnant with my second child, and trying to keep up with my 6 year old daughter, my current bills, and getting these people payed off i can't seem to get any where. I'm to the point where they will most likely start taking it out of my checks. I thought they had to accept what i could give to them. I don't know wher else to turn to. They are wanting the WHOLE payment now, or they said they will take it else where. I could really just use someones help, or someone to talk to. I have no family help, and my credits to bad to get a loan from the bank. Thanks in advance for your help

Answer 1

I know that you're trying to do the right thing and take care of your debt. Is this credit card debt, medical, or something else? Try credit counseling first and go from there. If they still won't work with you, then speak to a bankruptcy attorney about your rights and options. But, I have a feeling that the creditor is just trying to be intimidating so that they can get their money now because if it's unsecured, then they know that it will very likely get wiped out or significantly reduced if you actually file bankrupty or go into credit counseling.

Answer 2

Don't let the collection agencies bully you! They are just trying to scare you into taking your money away.

There is the possibility that the collection agencies/creditors could go to court and get a judgment against you. However, the chance of this happening is very slim. You may want to check your state's statute of limitations. If your debt is beyond the statute of limitations, the creditor can't take legal action against you!

The statute of limitations for debt can be found here:

http://www.creditinfocenter.com/rebuild/statuteLimitations.shtml

Only agree to pay the debt if the creditor agrees to remove the negative items for your credit report. Get this agreement in writing before you send them a dime! Otherwise, you will still have bad credit - the derogatory items will stay on your report, you'll just be that much poorer. Also, do NOT send them payment unless you are prepared to pay your debt off in full. The reason for this is, if you make a payment to them, or even admit to owing the debt, this will reset the Statue of Limitations, and you could be sued on a debt that would have been too old to sue on, had you done nothing.

So, don't lose any sleep over this. You most likely will not get sued. Even if you do get sued, you could file bankruptcy, and all judgements/garnishments will be stopped then.

Answer 3

HI ;If you have a 500 line of credit be greatful ,keep the card in good standing ,with at least minimum payments. If you are on government assistance,and your debt is too high to pay for ,the best thing to do is declare bankrupcy,you will end up paying about 10% of the entire amount owed. See a credit counciller. good luck,the only option may be to make minimum payments to all $20.00 per month ,dont worry about what the credit co tells you ! ''you tell them how much you can pay ,be firm with them ,they want to frighten you!''.There is no debters prison in canada !

Answer 4

There are many credit counseling services available that will often be able to negotiate manageable payments with your creditors and sometimes even reduce the overall debt load. I recommend researching the services through the Better Business Bureau to help ensure they’re reputable before engaging in any contract. Make sure to avoid paying for any medical services on a credit card before you talk to a trustworthy agency. .

Answer 5

They have to take you to court to garnish your wages. (except the IRS) They will take what you send them. They are trying to get it all out of you. You don't say how many bills that you have. Pay on all of them but take the bill with the lowest amount and send them as much as you can. When that one is paid off do it again with the next lowest balance. Else where? I am assuming that they mean they will turn it over to collections. That is just someone that they pay to try to get you to pay them. I hope that this helps and good luck. Congrats on the baby.

Answer 6

talk to a credit counselor.. don't let collection agencies bully you.. If you have TRULY run on bad times ( no going on shopping sprees, smoking 2 pack a day, drinking a six pack a day, going out partying every weekend), then get with a good credit counselor.. I would suggest you speak with someone at your church or if you don't have a church, contact a Non Profit credit counciling center.. Do not pay a credit councelor up front for service!!!

Answer 7

They use that "We need payment in full" as a scare tactic. I had a collection agency for Tmobile and they told me the same thing. Well, I paid in installments and they shut up about it. Sure they called me everyday. But when I paid it up it now shows on my credit report as paid in full. They use some pretty crappy ways to get you to pay. Also, they cannot touch your wages and take out of your check. It's up to you when you pay them off.

I had 4 collection agencies on me that totalled 2,200.00 approx and I just paid them off in installments. All of them show as "PAID-IN-FULL" on my credit report.

Remember, they will try anything to get you to pay, such as:
"Or well take this else where" What they mean by that is that they'll just pass it on to another agency.

Answer 8

It probably depends on which state you live in but they can't usually garnish your wages. Let them want all the money now . They probably don't want $5 or $10 a month but if you send $25 or more a month that should help. (probably won't stop the phone calls) Don't let it ruin your life. Like they say you can't get blood out of a turnip.

Answer 9

go to www.specializedfunding.com its the best way to get out of debt without destroying your credit even more then it is now if you want to call the 800 number and get more info then just ask for Amy good luck and dont worry they cant do anything to you unless they take you to court and get a judgement.

Answer 10

I believe before anyone can take money from your check, they have to have a judgement against you. I'm not sure about that though. Try a nonprofit credit counseling group. Be sure it's nonprofit though. Look in the yellow pages, not online.