i have bad credit i have two unpaid items in the credit bureau they wont take payments they want it all?

Question

they refuse to take payments from me they want all the money i have called these collection agencies and they wont let me make payments i want to pay i just cant pay it all at once what can i do

Answer 1

Just start sending money and keep trying to work with them on payments. Get a caller id and quit answering the phone.

You don't say how much your debts are for. Have they offered a settlement amount? If yes, then save up at least that much and contact them asking to settle. NEVER send the money without a written agreement from them that they will remove the remaining balance from your credit report.

Good luck.

Answer 2

Since you defaulted on your contracts, the debts are now payable in full. The collection agencies don't have to accept payment arrangements, especially if it's a small amount that would drag out paying off the debt. Don't think that you can send a small payment and if they refuse to accept it, you can get the item removed from your credit report and the debt forgiven.

If you send small payments, they will cash your checks and still call demanding full payment. They can also take you to court and get a judgment. Also, every time you make a payment, you restart the statute of limitations on that debt.

You can probably settle this debt for 75% to 50% but you will have to have a lump sum or large payments over a very small time frame. Get any settlement agreement in writing and don't give them access to your bank account.

Even if you work out longer term payment to pay in full, get it in writing. Collection agencies tend to sell off debts after a certain period and you'll be stuck with working out arrangements with yet another collection agency.

Answer 3

First things, first. Do not send them personal checks. This is a bad practice when dealing with outstanding debts.

Second, make sure they agree that upon full payment they will remove the entries from your credit report. A paid collection is no different than an unpaid collection as far as your credit score is concerned.

Third, continue to haggle with the company about payments. Essentially they'll either get the money slowly or no money at all ... only one of those options makes sense.

Answer 4

I've been through this. Just send them payments. They will cash the checks and your amount will go down. Their job is to terrorize you into making the whole payment. They just want to get the money from you, they don't care how. Don't let them scare you. They are the scum of the Earth and will one day pay for their lack of ethics. It's called Karma. If they harass you by phone, don't take it. Report them to the Fair Credit Agency.

Answer 5

A second mortgage can be the first step to climbing out of debt, especially for homeowners who have bad credit. A second mortgage is a loan taken out in “second position” on a property that already has a mortgage. There are fixed-rate loans, adjustable-rate loans and home equity lines of credit (also known as HELOCs). Fixed-dollar-amount mortgages are the way to go when you need all the money at once. A HELOC is a credit line that can be drawn upon as needed up to the limit of the loan.

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http://second-mortgage.toponegoods.com

Answer 6

been there done that all u have to do is sent them a money order for lets say 20.00 (more if u have it) if they wont take it and send it back to u contact the credit bureau and let them know they r refusing payment. i did and it was taken off and i did not have to pay them a penny. if they do take it then just send them the same amount each month it worked for me!! good luck

Answer 7

Yeah, that stinks... find out the mailing address to the accounts and just start sending in as much as you can. Make sure that you are paying more than the interest each month to make your ballance go down. They will still call and harass you, but they will cash your checks if you send them in. You just cant do it with them over the phone. Do your best hun and pay it off as fast as you can. Good luck.

Answer 8

I have a similar situation. I was able to have them come to my terms (monthly installments) when I said that I am not in a "bankruptcy" mind set, but the only way I can accomodate them is by monthly installmetns/payments. You may want to practice what you're going to say, but every creditor just about flips when they hear "bankruptcy". Use it. Let me know how it goes for you.