I know there is not going to be a exact answer, but how long about will a Credit Card Company wait until they send an account to a Collection Agency if you stop making monthly payments all together ?

J

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It depends on the CC company, I believe they typically wait approximately 3 - 6 months. Perhaps someone else will have some input for you.

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Oh and, welcome Jay!

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I think you are correct shazzers. The only difference is that CC Company's will use internal collections first before it goes past 180 days. They do not have to abide by the fdcpa from what I understand.

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60 to 90 days to go to an early out collection agency usually at 180 days it is sent to a charge off agency or sold.

Creditors do not have to abide by the fdcpa.

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Thank you for the help. I am going to try and handle my debt settlement on my own and I just need to figure out when to talk to the CC companies and make sure I can get to them before it goes to outside collections.

J

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Definitely talk to them before they handover your account to a CA. IMO its easier to negotiate with the original lender than dealing with the CA. However, you may wish wait till you manage enough fund to make the offer to them, because some lender may refuse to work out a repayment plan with you.

It may sound like an echo, but, yeah, the original creditors aren't bounded by the fdcpa.

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And remember that if you are drowning in fees and interest try and negotiate a lower interest rate.... and if you don't like the agent you're dealing with, hang up and try again... and again... and again. Eventually you will get someone that is willing or has the power to make adjustments to your balance.

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