2007-12-12 05:07:10 · 8 answers · asked by Anonymous in Business & Finance ➔ Credit
You will probably keep getting letters from them, but please do pay it asap you do not want the bailifs coming to your door.
2007-12-12 05:10:36 · answer #1 · answered by louise h 2 · 1⤊ 0⤋
It is doubtful you could file for bankruptcy based on a $2000 debt. You need to explore other ways of handling this obligation. If the collection agency itself will not deal with you; find a reputable credit counselor through your local BBB to assist you with a plan to retire this debt. Most collection agencies would rather collect a debt, but depending on the one you are dealing with they may either not consider reasonable monthly reductions, a reasonable interest rate for the balance, or any option at all. Beware of high interest rate loans that carry fees and leave provisions for the interest rate to go even higher if you make any late payments. If you have a job, you should be able to find a credit counselor or a credit union to assist you. A co-signer may be necessary, depending on your situation, so you might approach your parents or another responsible party to help you in this way. Depending on your stability, attitude and true desire to clear this obligation, you might find a co-signer. Personally, I would not do so without complete confidence in the person I was co-signing for. So, if you incurred this debt through simply ignoring the payments, that option probably won't be available to you.
2016-05-23 05:48:38 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I would think so, these people want their money. With such a small amount I would say it's easier to pay it than leave it to accrue interest and costs, etc. If it's a problem paying all in one go it's always worth talking to the agency and explaining your situation. Also phone National Debtline on 0808 808 4000, they are invaluable!
2007-12-13 09:54:52 · answer #3 · answered by loreleilee23 2 · 0⤊ 0⤋
No as it costs £50 to take you to court, and im pretty sure the debt has to be over £100
2007-12-12 05:16:06 · answer #4 · answered by Sasha 3 · 0⤊ 0⤋
Maybe not to start with .... however what's to stop them adding 'charges' and 'fees' until it reaches a few thousand and then taking you to court ?
Not a lot (ask the guy who ended up with a £7,500 bill over a Council Parking Ticket ..)
2007-12-12 06:23:08 · answer #5 · answered by Steve B 7 · 0⤊ 0⤋
Yes, because they get back costs as well and can show the corporation their success ratio.Suggest you pay up and keep away from negative credit rating.
2007-12-12 05:10:43 · answer #6 · answered by busterdomino 4 · 0⤊ 0⤋
It's not the amount, it's more the principle..£40 is £40 in anyones money
they can call ballifs around also, and then they'll charge you THEIR fee on top of the original amount..
2007-12-12 05:10:21 · answer #7 · answered by junglejungle 7 · 0⤊ 1⤋
unlikely.if you need advice talk to payplan.call them on 08009177823.they sort out people with huge debts.dont panic but talk to someone soon
2007-12-12 05:11:43 · answer #8 · answered by Anonymous · 0⤊ 1⤋