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Hi, my husband and I are planning on doing a debt settlement plan.

We both just got calls from banks yesterday. Mine from Wells Fargo on a card which is not overdue, but was before last month (i paid the minimum payment last month). My husband on a card that is 40 days overdue from American Express.

They left a message, so I recommended he call them back and just let them know that we are having financial trouble and don't want to bankrupt, but are trying to figure out a plan to pay our debts.

do you recommend he respond to their calls immediately so he knows he will work with them?

Wells Fargo called me constantly from a random # from Oregon (i'm in CA) and never left messages. I didn't realize it was them because I never answer my phone if I don't know the number, I just wait for a message and call them back if interested. One day I answered out of curiosity and it was Wells Fargo. I told them what I told my husband to say above and she was very nice and just told me if I paid $19 they wouldn't report the delinquency and I would have 30 days more to pay the rest. I def. agreed w/ that offer as it is taking us time to accumulate money, so we can pay it off in 1 or 2 big chunks when the creditor is willing to deal with us.

However, I am still getting very frequent calls from them. How often should I answer, so that they know I am still dealing with them and they dont' just send me to a creditor.

ANY advice welcome. our first time doing anything like this. and although I have gathered a lot of useful information on this website, specific guidance would be helpful.

thanks so much!!

Posted: Sun Jun 08, 2008 11:31 pm Subject:

Hi luv,

IMO its always wise to deal with the original creditor if you have the scope to do so. At times the collection agencies are really mean and difficult to deal with.

Its wise not to avoid the calls if the creditor is calling. If you have been current on your payment so far, tell your creditor that you're presently in a financial crunch and would love to work-out a repayment plan with them. Most likely they too will agree to it.

If the creditor is co-operative and willing then there is no reason to evade his call as it may worsen the situation in future.

Posted: Mon Jun 09, 2008 6:21 am Subject:

luv2laugh, how are you doing your debt settlement plan through a company or are you doing it yourself?

Guest · Posted: Mon Jun 09, 2008 8:04 am Subject:

I plan to do it myself

Posted: Mon Jun 09, 2008 8:07 am Subject:

sorry, I wasn't logged in. I plan on doing it myself though (guest was me). I will call them back today.

Posted: Tue Jun 10, 2008 3:42 am Subject: debt

Ya know, when I get calls from CA's, I try to consider their 'position' ( trying to do their 'job', etc). I try to be responsible ( not saying no one else is trying to be..) and take care of the debt I may have. But...it seems like when you call them back, aALOT of them make you feel like you are scum of the earth and don't WANT to pay your debts. It's really difficult to deal with some of them.

Posted: Wed Jun 11, 2008 12:32 am Subject:

Hi luv, nice to hear back from you. If you have opted for 'do it yourself', you should subject yourself for receiving frequent calls from the creditors. It'll be in your benefits to stay in constant touch of your creditor.

Sdcharger is somewhat right, that is the reason why many decide to join a program instead of handling the issue themselves. A professional debt consolidator is skilled to negotiate with the creditors and collection agencies. Also when you join their program they make sure that you're no longer harassed by the CAs.

However, it doesn't mean that one can't handle the situation by himself. You can also take the guidance of the 'do it yourself' section of this site. Hope it'll help you.

Also keep us updated Very Happy

Posted: Wed Jun 11, 2008 10:37 am Subject:

I wish they would leave messages, I can't answer my phone when I am at work, I am not avoiding calls, but having 15 missed calls a week from them is just strange.