Letter requesting money in full

Date: Wed, 08/02/2006 - 13:11

Submitted by anonymous
on Wed, 08/02/2006 - 13:11

Posts: 202330 Credits: [Donate]

Total Replies: 3

I am currently a full-time college student and got a letter today from The Law office of Joe Pezzuto,LLC stating they wanted me to pay $6241.69 in full. The matter all started when I charged up $4500 on a $5000 credit limit. Then my school charged my account twice by accident. So i filed a claim a got my money back. But by then the credit card company wanted me to pay late fees of $200 and the amount was still over the credit due to late fee which were not my fault:On November 2005. Now the balance has jumped to 6241.69 AUG. 2006.... after the tax collection agency handled it. My problem is I cannot afford this payment in full because Im a full-time college student with other expenses. The man on the phone said he could do it for $4500 by the end of August or else legal matters will come into effect. I got scared when he told me that and I didnt think before giving him personal check information. Im headed to the bank after this message to change my account bc of stupidity. After placing the phone call I looked these people up and read that maybe they could just be a tax collection agency with an attorney name on it. Is this true? My other question is Im a college student and cannot afford these funds in full amount.... is there any way I can pay in monthly payments with these people... instead of full? Will I go to court for this? Is this a real law firm?

Any Suggestions are greatly aprecatied.

Thanks, Mark

This debt seems to be within the SOL period. So, legal actions a

This debt seems to be within the SOL period. So, legal actions are quite possible if the account is not paid off. If the law office is not able to recover the money, they will send the file back to the credit company who will decide their further moves.

$4500 is a good deal if you can manage the payments. You will have to get the arrangements done with them in writing to confirm it. Talk to a counselor if he can help you with some tips about negotiating with the law office or with the original company. Consolidation can be done on the accounts in collections also. So, discuss it with the trained counselor thoroughly.