Please Help I'm really scared of Accounts Receivable Tech

Hi

Welcome to the forums.

Based on the amount of loan taken, try to contribute an amount that will be fair enough. Stress on a reasonable budget and write down your monthly and daily expenditure. Do not purchase anything that is unnecessary at this moment. Try to cut your daily expenses from the small daily items also. They add up the overall expenses.

If you can manage to build up some savings, it will be helpful for you. You can use this cash for emergency purposes and other unexpected situations.

Talk to ART and offer the amount that you can manage at this most. You need to convince them that harassing you or disturbing you at your place of work won't help them in getting their money in anyway. If you can offer a large amount in the plan, stick to it. They won't harass you as long as they are getting the money from you. If you can get a second job, it will ease most of your pressures.

Thanks for responding Roxanne. I tried to explain to him that I ran a little short this time and I could afford payments in the amount of $85.00 per month. And he still yelled at me and told me he could not do that the original creditor wouldn't allow it. I have made out a budget and I normally do well with it. Where the holidays are coming up. He said that if I don't send the amount he said then they will call here at work and embarrass me. This man was literally yelling at me. I also read that these people are not liscened to collect. Is this true?

How much are they demanding and how much is the amount of the loan? In which state are they collecting money from you?

The amount on the loan is 307.25. They are wanting me to send in 143.87 on the 15th and 163.87 on the 30th. I live in Kentucky. I just can afford that in a month. I tried to tell him I would send the $85.00 per month until this account was paid in full, but like I said all he did was yell and tell me I wouldn't want to be embarrassed at work.
Thanks again for responding.

Frame a letter like this given below. You can change it as per your requirements. ART is forcing you to complete the payment as early as possible. Do not worry, they will accept your plan if you keep negotiating with them.

YOUR NAME
YOUR ADDRESS
CITY, STATE, ZIP CODE

Date:

CREDITOR NAME
ADDRESS
CITY, STATE, ZIP CODE

RE: Acct.#

Creditor:

I recently obtained a copy of my credit report and noticed that your company has reported me as having the above listed account as: (delinquent, sent to collections, etc.). I wish to bring this account to a resolution that will be fair and beneficial for both of us. Therefore, I propose to pay you X monthly payments of $, or forward a check to you in the amount of $ as payment in full, provided that you are willing to send me a letter stating you will report this to any and all credit reporting agencies as: 'PAID AS AGREED' or notify me in writing that you agree to delete this item from any and all credit reporting agencies.

I WILL NOT agree to accept a 'PAID P & L' or 'CHARGE OFF' for an additional amount of time on my credit report. It is my position that I have suffered enough as a result of this problem.

Upon receipt of your letter I will send you a cashier's check or money order in the amount of $.

Sincerely,

Signature Date signed

Your name Date printed