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 Posted: Wed Sep 14, 2005 11:32 am Subject: Debt collector not accepting lower payment plan |
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one of my creditors has sent my debt to a collection agency who will not accept a lowered payment. My other creditors will not remove the late payment history from my account as they say it is illegal to do so. I figure with 4 over 180 days late, it will be almost as bad as having a bankruptcy. Is this totally wrong? My other 3 creditors are working with me and will accept lower payments, but if the last one will do nothing, should I bother struggling to pay the other three?
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| Posted: Wed Sep 14, 2005 11:34 am Subject: |
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What types of credit are they? Auto loans? Mortgages? Low limit credit cards?
I would avoid bankruptcy at all costs. There are plenty of resources out there to help you - including this forum. 
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cryptowizard
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| Posted: Wed Sep 14, 2005 11:49 am Subject: |
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it is 4 credit cards. They told me that they can only accept a certain minimum payment and that they can not change what is on my credit report, is this true?
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| Posted: Wed Sep 14, 2005 11:52 am Subject: |
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Welcome guest. I think cryptowizard is right. You can consult some professional agencies, who will negotiate with your creditors tactfully so that they agree to settle at a lower amount and report it to credit bureaus in your favor.
Bankruptcy is considered when no other door is open around. Please read the forum discussion on bankruptcy before you forward your step-
http://www.debtconsolidationcare.com/forums/bankruptcy-help.html
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4ubryan
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