Debt collector not accepting lower payment plan

Date: Wed, 09/14/2005 - 11:32

Submitted by anonymous
on Wed, 09/14/2005 - 11:32

Posts: 202330 Credits: [Donate]

Total Replies: 6

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?

What types of credit are they? Auto loans? Mortgages? Low lim

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. :P

lrhall41

Submitted by cryptowizard on Wed, 09/14/2005 - 11:34

( Posts: 116 | Credits: )

it is 4 credit cards. They told me that they can only accept a c

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?

lrhall41

Submitted by on Wed, 09/14/2005 - 11:49

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Welcome guest. I think cryptowizard is right. You can consult so

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://forums.debtcc.com/forums/bankruptcy-help.html

lrhall41

Submitted by 4u.bryan on Wed, 09/14/2005 - 11:52

( Posts: 819 | Credits: )

Dr Bill - payment refusal

I have been in contact with a debt agency, they refused my payment offer. So I did a payment of R500.00 - all I could manage, and another of R629.93. Total bill is R2294.00 - I now get a phone call saying I have to pay the full amount or she sends the Sherriff to repossess assetts. Is that allowed when I have already made payments towards the account?
The agency threatened me - can they do that?

lrhall41

Submitted by on Fri, 12/19/2008 - 02:15

( Posts: | Credits: )

debt

Hey, FLOSS..I'm not an 'expert' in this, but..I WILL say, if for some reason you DO have to go to court, at least you have proof ( I'm ASUMING you do) that you are making payments and trying to resolve this issue. No.......it's NOT illegal for the CA/OC to remove a negative listing. They CAN legally do this, if they want to. Did you say these were CC's (Credit Cards)? If they are, then no.....they CAN'T reposses ANYTHING. When you get a CC, thats' considered a Unsecured Loan/Line of Credit ( I know at least THAT much!!LOL) Was having CC trouble myself. don't let their scare tactics get to you. However......as I said I'm not an 'expert' in this field,,,,,,,,,so, I'm sure someone else will be here, shortly, to give you some more 'direction' on what to do. Hope this bit of advice helped, though.

lrhall41

Submitted by sdchargers_63 on Fri, 12/19/2008 - 03:39

( Posts: 1798 | Credits: )

debt

...I just want to add, too. When you do get CC's, it's like a Signature Loan......you din't put collateral down to get the 'loan',.......so, they have no 'grounds to say they can come get your assets. Their just trying to bully you. They will use everything they ( think..) they have. Remember.....you can only do so much.

lrhall41

Submitted by sdchargers_63 on Fri, 12/19/2008 - 03:43

( Posts: 1798 | Credits: )