What is the difference betweeen
Date: Tue, 11/21/2006 - 07:28
I don't have the money to send what they want. Prior to BOA sending off to collections they offered me a settlement of $1500 and some change but again I did not have that type of money to send let alone get. Now this company is saying the same payments/settlement as BOA. What do I do?
Bankruptcy is looking more and more like the only option I have due to the overwhelming debt and existing pdl that are in default. I do not qualify for a dmp and with a debt settlement its the same thing since I do not have enough positive income at the end of the month to pay my car, insurance, rent, living expenses etc. Therefore, my alternatives are becomming more bleak and its frustrating me. I have looked for additional work to do after my full time job but no one is calling back. I am at my wits end and I do not know what else to do. I do not want to be sued or have the cc's garnish my wages I barely am surviving now.
Any help/advice would be appreciated it.
thanks.
I think the first party collector is the internal collections de
I think the first party collector is the internal collections dept of the original creditor. When the debt is sold to outside collection agency or even if they are hired, they become the third party collectors.
There will be additional charges on the debt if the contract says so. If the debt is with the internal collection agency, you may not have those additional charges but if it goes to outside hand, the charges will be added on your account if the contract specifies it.
You will have to make some payments and keep the account current otherwise there is every possibility of a summon issued in your name unless the SOL expires in your state.
Look for few more debt management companies around. You can talk to a consultant through this website. A different approach may be figured if you get the right company.
If you are finally thinking about bankruptcy, talk to a lawyer because the debt collector can take all legal actions before the SOL expires.
We have few attorneys and good debt collectors in this forum. They will give you a better insight.