Collection agency's

First are you on a "fixed income"? or is your income from a job? Second, it's like playing poker, and they know they have you nervous with the threat of a law suit, which in most cases may not especially considering the amount of $3K. making payments is not a good idea unless those payments are going towards a final settlement, which you have with them in writing. Remember, you have the power the debt as you mention is a Credit Card Unsecured and if they file a court date/summons, and if they win, all they get is a judgment, (Legal Paper Stating You Owe Them Money) which you can still settle. So, don't worry yourself, and give up 1/2 of your income. and Never give them you banking info. (RT and Acct #) IMO Advice, put that $100.00 away, and in a few months offer them offer them $400-$600 as a one time settlement amount stay firm and let them know this is all you have and all you can come up with. Get amount everything in writing, and pay them via Money Order. BOL:)

There are CA's that I DID pay off a small debt with. They said they would only accept an arrangment by me giving my bank information over the phone. I told them no. That I would send them a Money Order. They said they would not accept it. Well.............I DID send them a M.O. and I know it was cashed (tracked the M.O.). They had the nerve to tell me, when THEY called ME, again, that they "never cashed it and they sent it back to me and for me to give them a bank account number over the phone." What!!?? AFTER they cashed the Money Order?? Who were they trying to kid?? I told them they got their payment and hung up. I never heard from them again..thank goodness.

Good Job. Just confirms how "shady" they are. Good to send them a simple settlement agreement, then have them send a Final Settlement Letter, stating account paid in full or settled in full Balance $0.00 but if you didn't get that this time, I don't want to stress you you should be fine, just keep records and the tracking number that you have. Good Job, More People Should Stop "feeling bad" for this Creditors and settle their debts, 20-30% is the going range. Again Nice Going!