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 Posted: Mon Oct 22, 2007 6:06 pm Subject: How do i pay???!!!!
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I owe roughly, 2500 in different accounts. I have come into money and want to pay what i owe so 'i can start building my credit. Right now i cant even get a 6000 dollar loan because of what i owe. Every time i go to one of the collection agecy websites and type in my account #, It wont let me do anything. All the debt consolidation places i've been to require you to have like $7,000.00 in debt in order for them to be of service. What do i do if i have a lot of $300-$400 dollar debts to different peolpe that add up to a couple thousand dollars. i just want to pay one lump sum and have it over with.
CAN ANYONE HELP ME?????
"FRUSTRATED IN TEXAS" 
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erict521
Joined: 22 Oct 2007
Posts: 3
Debtcc Points: 221
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Posted: Mon Oct 22, 2007 6:33 pm Subject:
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Hey Eric, sorry you're going through this. I would think this site's free consultation would surely help you. Are you in default with any of your creditors? were you able to call your agencies to see if they would at least lower your interest payments or over the credit fees if you have them? If you haven't done this yet, this may be a good start, that way you don't have to pay more than you need to. And, while it is very frustrating, sounds like you have had some decent luck getting some money to pay your credit off! I sure hope you find an answer from someone who was just under the credit limit requirements for consolidation. like i said i would think this site's consultation service will help you lots. hang in there! hope that when we hear from ya again you're doing a little better
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debtstinker
Joined: 08 Oct 2007
Posts: 288
Debtcc Points: 2786
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Posted: Mon Oct 22, 2007 6:39 pm Subject:
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WELL, i'm new to this site. I was just looking around for ways to pay and stumbled across it. I didn't even know they had free consultation. Thank you for pointing it out for me. I will surely put it to good use.
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erict521
Joined: 22 Oct 2007
Posts: 3
Debtcc Points: 221
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Posted: Mon Oct 22, 2007 7:02 pm Subject:
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Hi Eric. Welcome to the forum.  Could you afford to put $10-$15 towards extra towards your lowest debt per month? Since you have alot of smaller debts, you might be able to pay them off and save some money by starting with the smallest, applying a little extra money (while still maintaining the other accounts, if possible), paying off the smaller one and then using the money to start on another account. Lots of people have been successful this way. Also, with a free consultation, you might be informed of options that you didn't think were available. Good luck, and keep us informed.
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eleroo
Joined: 06 Jun 2007
Posts: 1227
Debtcc Points: 14309
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Posted: Mon Oct 22, 2007 7:07 pm Subject:
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The way I read the original post is that you have enough to pay off your debts, is that correct?
If so, pull a copy of all three of your credit reports. Next, send an offer letter to each account, however make sure you tell them you want your account marked "paid in full".
Click on the "Do It Yourself" link at the top center of the page, you'll find free sample letters here.
_________________
Currently reading: The Total Money Makeover by Dave Ramsy
Current Step: Pre-Baby Step; trying to get current.
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KellyfromNY
Joined: 17 Aug 2007
Posts: 35
Debtcc Points: 1075
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Posted: Mon Oct 22, 2007 7:47 pm Subject: reply
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eric, debtstinker is right. In your situation with various debts, go ahead and call the debtcc phone number 1-800-601-1579. They'll have a financial coach who can get your information and point you in the direction best suited for your situation. 
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Mon Oct 22, 2007 7:51 pm Subject:
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I talked to one and I can't remember who it was that only needed $3000 in active debts. If they were old charged off then there had to be at least $5000 of debt. Call the 800 number to the right if they can't help they will probably be ablte to refer you to someone who can.
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pybasj
Joined: 08 Aug 2007
Posts: 826
Debtcc Points: 5505
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Posted: Mon Oct 22, 2007 8:12 pm Subject: reply
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pyb, so there is a difference to these companies if they're "active" or "charged off"? What if you wanted to pay the "charged off" ones also? Or is this a really dumb question?
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cannr
Moderator
Joined: 07 Jun 2007
Posts: 9375
Debtcc Points: 124818
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Posted: Mon Oct 22, 2007 8:18 pm Subject:
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I also have a question in here. We are doing debt settlement and we are with a company, but a few of our accounts were too small to include, but we had problems paying them. Is it possible to negotiate a settlement without a settlement company for those smaller ones?
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Billysgirrrl
Joined: 12 May 2007
Posts: 127
Debtcc Points: 2665
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Posted: Mon Oct 22, 2007 8:34 pm Subject:
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Cannr, When I talked to them they said the old ones that were charged off could be included but the total amount of debt had to be higher. I don't understand why. I guess it is harder to handle the older ones sometimes they want a higher amount to make it worthwhile.
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pybasj
Joined: 08 Aug 2007
Posts: 826
Debtcc Points: 5505
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Posted: Mon Oct 22, 2007 8:38 pm Subject:
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Billy, Call the smaller ones and tell them you would like to work a settlement. Have in mind the amount that you can afford to pay before calling them. offer them a smaller amount than you can afford and see what they come back with. Sometimes you would be suprised what they would accept. Most of the time you can get them to settle for what you can afford, as long as you are reasonable. They aren't going to accept $50 for a $3000 debt.
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pybasj
Joined: 08 Aug 2007
Posts: 826
Debtcc Points: 5505
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Posted: Tue Oct 23, 2007 6:50 am Subject:
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Yeah that's understandable. For the ones that's in my husband's name can I do that too or does he have to do it? Also we have some small ones that's in both names. I just want to have all of my facts straight before I get on the phone.
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Billysgirrrl
Joined: 12 May 2007
Posts: 127
Debtcc Points: 2665
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Posted: Tue Oct 23, 2007 7:44 am Subject:
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Welcome to the Comunity eric As Eleroo said, you can do this yourself if you are dealing with a small amount of debt.
I did what eleroo said- I had alot of small debt. I put as much extra as I could toward the smallest debt extra a month. I paid that off, and put that payment towards my next smallest debt, along with its payment, and so on. I,too, had called the cc companies and told them I was trying to pay them off and could they lower or drop my interest so I could, some said yes. We also did the 2 job deal for quite some time.
Just be sure and get any payment arrangements in writing before you send a payment, along with them saying this will be paid in full, if you can.
Billysgirl- Some of the creditors would talk to me about my husbands account, some would not. I told them that I was the one paying bills, and if they wanted money they better talk to me!
You can negotiate for a settled amount with them- but it will most likely be reported as settled for less, or something in that nature-get it in writing!!..karen
_________________
As long as you are alive, there's always hope
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Bossy4455
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Joined: 27 Feb 2006
Posts: 5360
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Posted: Tue Oct 23, 2007 8:22 am Subject:
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At this point it doesn't matter what it says on the credit report. Better to say settled for less than not paid or still owes...lol For the ones that we have in settlement I still haven't gotten any collection notices yet and the settlement company said that they need those. I can't wait until the calls to my husbands job stops.
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Billysgirrrl
Joined: 12 May 2007
Posts: 127
Debtcc Points: 2665
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Posted: Wed Oct 24, 2007 11:16 am Subject:
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I have a similiar problem as erict. I have about $6,500 in debt and have lost my job. I have decided to take money from my 401K to pay my cars off and the credit debt above (I know that everyone will say I shouldn't do that but I just feel better doing this). I want to "negotiate" but no one will talk to me about my credit card debt because I am not "past due 90 days". This seems ridiculous to me. I know that credit debt companies do this all the time why won't they talk to the actual debtor about this. Seems very stupid to me.
Additionally, do the car companies work with people to negotiate a lower amount due? Does anyone know how this works?
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werseyjersey
Joined: 24 Oct 2007
Posts: 1
Debtcc Points: 40
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Posted: Wed Oct 24, 2007 11:44 am Subject:
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Wersey, have you closed the accounts? You need to close the account before you can try to negotiate a settlement. If you plan to keep using these accounts then you're better off explaining your situation and asking for a reduction in interest for a lower payment until you're back on your feet. If you are showing them that you are able and willing to pay then they want the full amount. Why would they negotiate a lower payment if there is no fear that they will lose out on the money? Once an account is 90 days past due it's saying that the consumer is having trouble paying the debt and they are either not going to pay it at all or it will be a long time before they get their money.
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Billysgirrrl
Joined: 12 May 2007
Posts: 127
Debtcc Points: 2665
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