How Long and How much

Date: Wed, 12/06/2006 - 14:01

Submitted by jeffc762
on Wed, 12/06/2006 - 14:01

Posts: 21 Credits: [Donate]

Total Replies: 7

In the past year or so I have fallen into a situation where I have a lot of debt and not much money to pay it all. I have made some of the usual mistakes like payday loans, and I have signed on with a credit settlement company.
My worry is being arrested or having to go to court. I worry because of the missed payments, bounced checks and overdrawn checking account thats been closed.
I am talking to my creditors and trying to pay all that I can, I'm not ignoring their calls or anything. My settlement company keeps telling me that if I want the program to work, I shouldnt set payments up with the creditors.
As long as I'm communicating and showing effort through a credit settlement program do I need to worry about legal action?
Thanks

Don't worry about getting arrested. Won't happen. Don't worry

Don't worry about getting arrested. Won't happen.

Don't worry about going to court. It's hardly the worst thing, and many times is a good thing for a debtor.

Keep paying, negotiate lower payments if you can, and hang in there. If you are also getting calls from debt collectors, take careful notes, record if you can, and find yourself an attorney at naca.net to sue if you get abused by the debt collectors.

lrhall41

Submitted by Sam Glover on Wed, 12/06/2006 - 14:06

( Posts: 161 | Credits: )

First off, a settlement company is not the best thing for you...

First off, a settlement company is not the best thing for you...Did they tell you that you have to pay taxes on the amount settled for??

lrhall41

Submitted by on Wed, 12/06/2006 - 14:07

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Send proposals to your creditors and see what they have to offer

Send proposals to your creditors and see what they have to offer in your case. Review your present financial situation and figure out if you will be able to manage with the payments. If you can do the negotiations on your own, settlement company is not required in your case.

lrhall41

Submitted by BKP on Wed, 12/06/2006 - 14:21

( Posts: 239 | Credits: )

sam if there not licensed in your state can they take you to cou

sam if there not licensed in your state can they take you to court and would they considering they are onli 150, 200, loans

lrhall41

Submitted by TASHA_MOSELEY on Wed, 12/06/2006 - 14:22

( Posts: 408 | Credits: )

If a debt collector is not licensed, that could be a violation o

If a debt collector is not licensed, that could be a violation of state law. You would have to look closely at your state's laws on debt collector licensing.

The amount of the loan isn't always important. Don't think you are safe just because the amount is small.

lrhall41

Submitted by Sam Glover on Wed, 12/06/2006 - 14:27

( Posts: 161 | Credits: )

loan

Sam there is a case brewing right now in Kansas where the payday loan company is suing the state. They sure have got nerve. KYSIDE38

lrhall41

Submitted by KYSIDE38 on Wed, 12/06/2006 - 14:32

( Posts: 2477 | Credits: )

kyside38, what company is that??

lrhall41

Submitted by on Wed, 12/06/2006 - 14:40

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