Ask the collector!

Nice to see people who are ready to help without reasons, timeliketears join the debt Samaritan club, send a mail to [email]vikas@debtconsolidationcare.com[/email] . It will be fun to have you there, an expert collector.

I have four credit cards, haven't been able to pay for months, the phone rings nonstop, and I'm about ready to have a nervous breakdown. I also have some hospital bills, but the total of the whole mess probably is around $10,000. I'm considering bankruptcy, whats your opinion? I've also thought about sending the C&D letters, where do I start? Thanks for any suggestions, and before someone judges me, I had a surgery that almost took my life therefore I was off work for almost two years and still have problems, up until that happened I paid my bills.

Quote:

http://www.debtconsolidationcare.com/avoid-bankruptcy.html

this page i think everyone should read. even if there not thinking about it!

mustangchik,

As for the medical bills, if you are getting collections calls on them, they cannot bother you as long as you send them as little as a dollar a month. I don't know a single person who can afford to pay off the exorbidant medical bills that are incurred by a simple checkup, much less a life-changing surgery.

With the credit cards, I suggest that you call the original creditors and work out a settlement or payment plan with them. You do not have to deal with collections agencies, so even if they tell you that they are the only way, it's usually not true. You could consider debt consolidation, but bankruptcy is ALWAYS a last resort option. This doesn't mean you can't go speak to a lawyer to find out more about your options, in fact, I encourage that anyone in debt get as much information and advice that is available to them.

I do not recoommend sending C&D letters unless you believe you are truly not responsible for the debt. The collector's only recourse after that point is to take your file to court, and they will win a judgement against you if they can prove that you owe, which can include paycheck garnishment and the judgements showing up on your credit report. So, yeah, it will make them leave you alone, but the consequences must be weighed for that bit of freedom.

I hope you are feeling better and that life has calmed down for you a bit, and I know that in such trying times you don't need harassment from collectors causing you more stress. Very few people can go through life without incurring some debt, there are many ways to get out from under it.

I was wondering if it was against any FTC guidelines for a debt collector to ask if you have considered filing for bankruptcy? Also when they leave a message on your answering machine do they have to release who they are?

Just two more i promise. Do you happen to know if NH allow interest on debts. And is the creditor supposed to send you the bill or is that strickly a "courtesy" for them to do so?

Idlemind,

Ok. Firstly, it is none of the collector's business if you are considering filing for bankruptcy. They shouldn't ask, but you have no obligation to answer. Simply tell them that it's none of their business. If you have filed for bankruptcy, and you get a collections call, tell them that any inquiries must be directed to your attorney. They may not ask you for any details about your case, as it's out of your hands anyway at that point.

When a collector calls your home and leaves a message, either on a machine or with someone else, they may not (usually) give any information but their first name and their telephone number to call them back. This is because it's illegal to give out any information concerning a debt to anyone other than the debtor or the debtor's attorney. So, for instance, say a collector called for my roomate, and left a message with me including the company they work for. I would then know that my roomate owed a debt to this company, and that is none of my business. So, no, they are not required to tell you what company they are calling from in a message, and in some cases it may be illegal to do so.

I don't have any knowledge of any specific NH credit laws, but in regards to both of your last questions, I'll have to say that it depends on the nature of the debt.

Most states laws include an interest cap, which means that there is a maximum percentage of interest that is allowed to be charged on any debt. These caps may be different depending on the nature of the debt, be it loans or credit cards or whatever. Also, with loans, the caps may be different depending on dollar amount of the principal. Mortgage loans may have lower interest rates than personal loans under $2000, for instance.

I can say with some certainty that there will be interest on almost any debt you incur, simply because the companies that extend you credit are not in business to just give money away. They have to make a profit somewhere, and that's what the interest is. You have the right to know every detail about the interest that you will be charged before ever signing for any credit.

Depending on the nature of the credit extended, you may or may not be issued a bill. Credit cards, yes. Small loans, usually not. It's about personal responsibility, and you should be informed at the start of the credit the terms, which can include keeping track of due dates yourself.

It was a nice suggestion timeliketears. Good job

Roxette

I would like to thank you for taking the time to help me out and answer my questions for me. thanks again

Hi Idlemind

I hope that this help proves to be of great value and also best wishes from all of us to see you living a debt free life very soon. :D

Roxette

All you people suck!!! Whining about collection agencies calling you about bills all you broke **** owe!!! What about the companies that lose millions of dollars writing off debts that people like you dont pay!!! And for the "professional debt collector" who is aiding these broke ass deadbeats, you are cutting your own throat stupid. Some of these people that you are giving tips to just might be the account you need to help you make a money.

What a bunch of losers!!!

[color=Red]****Adult term removed - Jason[/color]

[quote=timeliketears]Heya, guys and gals. I am really here to help everyone out who may be having problems with a collections agency, or if anyone is just curious about their practices. I just landed a new job as a collector for a large company (business to business) and I am fairly conversant with the laws pertaining to collections. I learn more every day, and I am happy to share my knowledge with you all.

Please feel free to post with any questions you may have for me, and I will do my best to answer them to the best of my ability. If I don't know, I am sure we can find someone who does![/quote]

You are a disgrace to the collections profession.

Hi IHateDebtors

IHateDebtors wrote

Quote:

That is not a very nice thing to say, I know plenty of consumer friendly collectors out here... think this area is about helping your fellow man and doing still do you job, there is room for both.

No offense but what the hell are you talking about???

Hi IHateDebtors

You wrote
Quote:

We arent talking about collection agencies. We are talking about the people on this message board who are trying to find ways not to pay their debts!!! Also about the "professional collector" who is aiding these low-life deadbeats in there quest to not pay bills.

Hi IHateDebtors

Thanks for the reply.

Quote:

Quote:

[quote=IHateDebtors]We arent talking about collection agencies. We are talking about the people on this message board who are trying to find ways not to pay their debts!!! Also about the "professional collector" who is aiding these low-life deadbeats in there quest to not pay bills.[/quote]

You're an idiot. No one is "aiding these low-life deadbeats in there (you should have spelled it they're) quest not to pay bills." All I offer is a better understanding of the laws for the people they affect. Never once have I told anyone not to pay their debt, in fact, I have often encouraged people to find a way to work with the collectors. None of that means that people should let their rights be trashed. You may not know, since it's pretty obvious you have no idea what collections is about anyhow, but even most collectors don't know the laws concerning what they do for a living.

Get your facts straight before you go spewing bile all over the place, or don't you have anything better to do?

Hi timeliketears and jtucker

You both are a jewel in this forum. :D Hope IHateDebtors will come up more nicely and with correct words next time. You both have supported much by understanding the feelings of the debt struck people. Thanks :D

Roxette

Hi IHateDebtors,

The strangest part is creditors do not expect all payments either as when they do calculation they use a probability factor which is always less than 1. They say close to .9(90%) is good enough. Many will default not because they want to default but they go helpless in life, life takes unexpected turns. Do not hate Debtors as without debtors there is no existence for creditors.

Every company has bad debts and credit companies are no exception rather they have more as they take more risk expecting more returns. More risk more return business will always have more bad debts.

Love Debtors, help them in paying the little they can :) . Love Creditors help them get as much money they can :) . Do not hate just love and help that is what is our goal at debt consolidation forums.

We will be conducting some events to educate people regarding these issues.

Thanks and Enjoy forums with debtors and Creditors.
Vikas

Hi IHateDebtors,

[quote]
All you people suck!!! Whining about collection agencies calling you about bills all you broke


**** owe!!! What about the companies that lose millions of dollars writing off debts that people like you dont pay!!! And for the "professional debt collector" who is aiding these broke ass deadbeats, you are cutting your own throat stupid. Some of these people that you are giving tips to just might be the account you need to help you make a money.

What a bunch of losers!!![/quote]

Hey, keep your cool. 8)

I understand your sentiments but please refrain from using offensive language in the forum. In this forum we share our knowledge and information to help our fellow forum mates during times of crisis. There is no personal bias and we expect the same from you.

You are welcome to share your knowledge and insights with the other members of the forum.

Cheers,
Jason

[color=Red]****Adult term removed - Jason[/color]

:?: I was just wondering if a Collection co. can legally refuse the $100/mnth payments I offered?--(they told me that was not enough).

Yes, They can refuse the offer legally.

Hi jaczer

Every company has various payment structures created in their programs. Depending upon that, they offer the customers with various options that can be best suited to fulfill their needs. They do start from a particular payment plan and will not entertain any payment which is lower than that.

Roxette

[quote=jaczer]:?: I was just wondering if a Collection co. can legally refuse the $100/mnth payments I offered?--(they told me that was not enough).[/quote]



While others told you this is legal......it depends on your question.
It is perfectly legal for them to tell you by phone or writing that they payment you offer is not enough to suit them and they cant except that payment to hold off intrest or pursueing you legally.

Although kinda foggy on the fact of weather it is illegal or not to accept it if you send it in is different... I know for medical bills they have to and i believe this to be true with all bills. This wont stop them from sueing you or allow intrest to keep running though. Now if its legal i still dont know of one agency that will send your money back to you because it isnt enough. Their job is collect money and they want all they can get so they push for the max but will accept the little

Hi,

I absolutely go with john_johnson. It is very true that the collection agencies follow the logic "It is better to have something, rather than nothing". Thus,they might have a problem to accept $100 every month but they will never forego the amount from their hands. Their main intention is to extract their money from you under any given circumstances.

What they can do at the most is give you a written document that this amount is not sufficient and they expect a better monthly payment from you.

In all probability it is not legal unless they have some documented company policy which states the minimum amount of payment from debtors every month.

Please give us your feedback and let us know if we could be of some help to you.:)

Regards,
Jason

Hi IHateDebtors,

Sometimes I feel exactly the same way you do. According to statistics, 1% of all defaulters will voluntarily pay at the collector's behest. It is our place to recover funds to our clients due to the fact that nonpaymant of debts does a great disservice to others. Honest people have to pay mad credit card interest because of people not paying thier credit card bills and then going bankrupt, hopeful graduates are unfairly denied grants and student loans because there are billions of dollars in defaulted student loans unaccounted for. We speak on behalf of our clients who are flat out of patience and we all too often get completely shit on! We respectfully try to assist the defaulters in repaying the money, but we oftentimes get an onslaught of snivelling excuses and vulgar nonsense words hurled at us. Oftentimes, I must confess that I feel like I need a glass of wine before picking up the phone.

Two sides to every coin though, there are dirty collectors out there making fdcpa abiding ones look bad, and there are belligerent deadbeats out there making cooperative borrowers look bad.

Overall, collections is a tough gig, but as collectors we are to serve our client.

Take care,
Ari

Hi,I have a question,I am currently in a consolidation program,Im now in my second month.A collection agency called me,OSI,they are collecting for one of my credit card bills.My question is,my consolidation company is sending payments to the original creditor,will they inform OSI that they have taken the debt back.It was not in collections,as far as I know when I first started the program.How do I fixed this?
Thanks

Hi

You need to confirm if the account is still with the creditors or it has been sold to the collection agency. Usually the creditors won't accept payments if the debt is sold, but it will be better to confirm the latest standing.

You can also get sure by pulling your latest credit report and see if this account is under OSI collections. Needless to say, if OSI is holding your account legally, they must serve you the details about the accounts and the SSN#.

Quote:

You guys ever think that maybe the people youre harrassing accually dont owe any money to anyone?
Do you people realize when you fire off that false statement to the credit bureau that you may be causing some very serious dammage like loosing your last year of university because you all of a suden cant get your loan on time?? Do you people ever realize that the people youre calling 2-3 times a day work midnights to make money that they use to PAY their bills with??
Maybe these people are "skipping out" because they dont owe a penny to anyone.

Well if you cant afford to pay your s**t back dont use it in the first place. you know when your using that card that you have no means to pay that bill in 30 days so dont use it.

Please refrain from using abusive language. Tammy

Thats a good point Bill payer, however, we shouldnt be harrassed into paying bills that we dont owe because the collectors cant spell or dial a phone correctly. Just because Bob smith wont pay his bills doesnt mean the rest of us are responsible for the debt, nor does it mean collectors have the right to harrass us or destroy our credit because we dont want to pay for a TV or car weve never seen.

ihatedebtors seems to be a nasty, nasty, pompous, self-righteous, sarcastic, judgmental, (perfect?) person...perhaps they have chosen the perfect profession...however, I am no one's judge...just thankful I am not related, LOL. But...each person has a right to their own opinions and hatreds...so far anyway. Most 'poor' companies are insured against losses, and receive gov't payment for defaulted debts, which comes from taxpayers, per usual, like everything else. Besides, if people didn't default, you would not have a job... :roll: