collection agencies?

Question

i am currently in debt and slowly eliminating it by paying for my most current accounts and ones that have a lower balance. because of this my two accounts with the highest balances have been sent to the collection agencies. i have tried to work things out with them, they were very rude making fun of the way i talk, telling me to go work at McDonalds because anyone can get a job there (i currently make $15/hr at a hospital but its a part time position.), they also tell me to hold and in the background i can hear them yell and laugh and the whole experience was very unprofessional. since i still have their letters on hand i have decided to just save up money until i have the full amount and then send it in. I was wondering if anyone out there knows what legal actions they could take against me during this period.

Answer 1

GIVE THEM PAYMENTS THAT YOU CAN AFFORD. IT DOESN'T MATTER IF YOU ARE GIVING THEM $15.00 A WEEK. A PAYMENT IS A PAYMENT. IF THEY DON'T WANT TO ACCEPT THAT, THEN TELL THEM THAT YOU CONSIDER IT PAID IN FULL. THEY CAN NOT REFUSE PAYMENT. AS LONG AS YOU ARE MAKING A GOOD FAITH EFFORT TO PAY THEM, THEY WILL NOT TURN YOU OVER TO LEGAL. WHEN IT GOES TO LEGAL YOU WILL BE NOTIFIED BY THEIR ATTORNEY AND IF BALANCE STILL GOES UNPAID YOU WILL SERVED WITH A SUBPOENA TO GO TO COURT. IN COURT YOU JUST GO BEFORE A JUDGE JUST TO SAY "YES THE DEBT IS MINE AND I DO OWE THE AMOUNT." IF IT GETS TO THIS POINT YOU WILL HAVE A JUDGMENT ON YOUR CREDIT AND MORE THAN LIKELY IT WILL RESULT IN WAGE GARNISHMENT. DO YOURSELF A FAVOR AND MAKE PAYMENTS.

Answer 2

I have a collection agency that has hounded me for 10 years. It is with a phone service that I had that they errouneuosly charged me 25 cents a minute when I should have been billed a flat rate. Needless to say I got a 1500 dollar bill in one month. The company Nextel was going through a transition and there Customer Service was horrible. I tried to get it rectified and got no where. I moved and wasn't bothered for four years and then all of a sudden they started contacting me. I was told by an attorney friend of mine that many collection agencies "BUY" the contracts from the original companies. THEY can't sue you but the original company can. So the collection agency will always tell you that they will tell the company and they will initiate a lawsuit. Seven years later I am still waiting for that so called lawsuit. SO the next time the collection agency calls you and you say to them " If I don't pay what will you do?, At this point make sure you get the person's name, the time of day, and date and the full conversation written down on a journal. If they treaten to sue and you don't get paperwork in 45 days, you can countersue under the Fair Credit Billing Act. Companies are not allowed to make legal statements without follwoing up wit actual legal statements. By any means do not TELL THEM your saving money to pay off the loan. Because they will hold you for that amount and still harrass you. Just push them against the wall and ask them if you don't pay what are there intentions. Then if they say lawsuit, tell them that if you don't get paperwork in 45 days, you will contact the Attorney General of your state and advise that they are harrassing you. Threatening legal action without actually following through is considered the highest form of harrassment.

Please read number 5
http://www.law.cornell.edu/uscode/html/uscode15/usc_sec_15_00001692---e000-.html

Hope this helps

By the way, you can send a letter to them to advise that they are not allowed to call you anymore. See Section C
http://www.law.cornell.edu/uscode/html/uscode15/usc_sec_15_00001692---c000-.html

Answer 3

Besides calling and demanding payment, they can sue. They would win a judgment. Then they can garnish your wages, attach your bank account, and lien your property.

If you need assistance working your way out of debt, check this site: http://www.nfcc.org/ . Consumer Credit Counseling Service (CCCS) offers free counseling. They can look at your finances and advise you how to proceed.

The best way to pay off credit cards is to throw everything you can squeeze out of your budget at the highest interest rate card, while making minimum payments on the rest. When the highest interest rate card is paid off, move to the next till they are all paid in full. Pay off your current credit cards first.

Then tackle defaulted accounts. Negotiate with the newest one first and work backwards. The older the negative, the less impact on your score. You can negotiate settlement for less than full amount -- the older the debt, the more likely they will settle for half. Get any settlement agreement in writing and don't give them access to your bank account.

In the case of the two accounts in collections, don't talk to these idiots on the phone. Tell them to only contact you in writing. If they make fun of how you talk, ask if they understand FTC or FCRA. Learn more about your rights here: http://www.ftc.gov/bcp/conline/pubs/credit/fdc.shtm

Since you are only working part time, it might be a good idea to find another part time job. The more cash you bring in, the quicker you can pay off these debts.

Answer 4

I had a bill with a collection agency for about 3 years. They didn't do anything, but some of them I am sure take action.

Answer 5

there are laws that regulate collectors, however the laws give them much leeway to use many stiff arm tactics to collect. Bottom line is pay your bills and they want call or wright you.
Good Luck