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Posted: Fri May 12, 2006 1:02 pm Subject: Payment Arrangements

I have made an effort to call all of the creditors that I owe money to and set up monthly payments with them that I could afford. Unfortunately, they are now all with collection agencies and they are telling me that what I am offering to pay is not enough. They say I can send in whatever I want, but it won't stop them from moving farther with action against me and possibly legal action. I don't see how they can deny me of making a payment. I am trying the best that I can. Any suggestions and can they do that?

Posted: Fri May 12, 2006 1:17 pm Subject:

No actions can be taken against you as long as the company is receiving payments from you. Sometimes, they threat like this because they want to make you more alert in paying them with larger amounts. They want to get their money back as early as possible.

While your accounts are with the collection agency, you can still send your payments to the original company. Make sure that they post it in your accounts. You must have proof of your payments done towards the account. You will be safe!

Linda · Posted: Fri May 12, 2006 2:00 pm Subject: Student loans

Gretchin, what you say here....is that the same for student loans? Say they say my payment is: 376 and I can only pay 208.00 of that.

Think they will get judgement on me and garnish me?

Posted: Fri May 12, 2006 2:53 pm Subject:

Have you sent the payment to the company? If not, make sure that you have sent the money because the company can take actions only if they don't receive money from you. If the loan company files a case before you send the payment, they will be placed in a stronger position. Filing a case after receiving money from you does not make any sense. Even if it is done, the judge will analyze your payment record before taking any decisions. In most cases, it gets ruled out in your favor and will be allowed to pay as usual.

Posted: Sat May 13, 2006 5:32 am Subject: Yes, but.....

This is a 48,000.00 student loan that I have to start paying on in 4/1/07. I am hoping they tell me my payment WILL be 208.00 on the income sensitive plan, however if they tell me it is 376.00 or more (I plan on sending the 208.00 anyway and hope for the best.

Posted: Mon May 15, 2006 7:15 am Subject:

Gretchin,

All of my accounts are now, unfortunately, with collection agencies. If I contact the orginal creditor and send them a payment each month, then I should be ok? Should I just call the original creditor and get their payment address and just send a check?

Posted: Mon May 15, 2006 4:31 pm Subject:

If the original creditor has not sold the account to the collection agency, they should receive payments from you if you are willing to work with them. After making this arrangement, you won't have to necessarily work with the collection agency.

When you send your payments, make sure that there is a proof of the company receiving your money and transferring it towards the accounts. Send your request in writing and keep a follow up over the phone.

FYI · Posted: Tue May 16, 2006 9:59 am Subject:

If you are just going to work with the company and not the collections agency I would suggest you find out first if the company is going to pull your account from the collections agency. If not the agency still has the right to contact you and proceed with doing the job they were hired to do.

A collections agency by law has to report that you made a payment. However until they have an agreement from you they still have the right to contact you.

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