will credit card companies call my family?
Date: Sun, 08/12/2007 - 02:17
hi, this site is great, i have a bunch of questions i hope can be answered. If i stop paying my accounts while i try to save money to settle with in a few months will any credit card companies do research on my relatives and call their phone numbers. If they do would they divulge any information about my situation or just identify themselves and tell my family that i should call them?
Im not talking about crazy collections agencies, just the actual credit card companies. Do they only call your listed number with them? Do they attempt to call any old tel numbers youve listed with them because when i used to live with my parents its their number i listed with the credit card co. I really need to do this without my family finding out or them getting phone calls.
Also would you recommend settling the card that has the biggest amount owed first to discourage that company from suing me, which they are more likely to do over a balance that is $6000(my biggest of the 5 cards i owe, as opposed to a balance of $1900(lowest i owe). My total owed is $18,000.
I am about the stop paying but should i call my credit card cos to tell them why or should i just ignore them for the next 120 days and then try to make a settlement offer? Will telling them that i cant pay right anymore and cant deal with the immense interest rates discourage them from attempting to contact my family? also should i call them once every month to tell them that im saving up money to settle with in a few months? Im just scared that if i totally ignore them for 120 days that they might file suit or sell my account to collection agency. I want to settle with the original creditors directly.
Im not talking about crazy collections agencies, just the actual credit card companies. Do they only call your listed number with them? Do they attempt to call any old tel numbers youve listed with them because when i used to live with my parents its their number i listed with the credit card co. I really need to do this without my family finding out or them getting phone calls.
Also would you recommend settling the card that has the biggest amount owed first to discourage that company from suing me, which they are more likely to do over a balance that is $6000(my biggest of the 5 cards i owe, as opposed to a balance of $1900(lowest i owe). My total owed is $18,000.
I am about the stop paying but should i call my credit card cos to tell them why or should i just ignore them for the next 120 days and then try to make a settlement offer? Will telling them that i cant pay right anymore and cant deal with the immense interest rates discourage them from attempting to contact my family? also should i call them once every month to tell them that im saving up money to settle with in a few months? Im just scared that if i totally ignore them for 120 days that they might file suit or sell my account to collection agency. I want to settle with the original creditors directly.
You say you are going to default, but haven't as yet?? Have you
You say you are going to default, but haven't as yet?? Have you tried calling them in advance to make other payments arrangements?? Have you considered a debt program?? I would first register and take the free call from one of the couselors before making a decision...they might be able to help you come up with an easier way. I have not ever had a credit card company call family members for info...but I am guessing it would depend on what collection agency they use. Some of them can be horrid to work with.
