Viking
Date: Thu, 02/10/2011 - 16:14
Long story short, due to unemployment, my husband and I have $25,000 debt with Chase. We hadn't been able to make payments for a few months (we did start again recently, but not the minimum) and apparently they turned it over to a collection agency called Viking. They contacted me the other day and told me I had two days to come up with $14,000. I called him today and told him that was impossible and offered to make payments, he said that could not be arranged but if I could come up with at least $2500 he could set me up with installments. I have until Monday to come up with the money. I guess my question is, do you know, if I can't come up with it will they sue me right away or will they try something else?
I would suggest you to not pay them off right away. Rather you s
I would suggest you to not pay them off right away. Rather you should ask them to validate the debt which will help you know whether or not they own your debt account. If they can't validate, then you won't have to pay them. If they own your account, then you will have to negotiate with them and convince them to give you an affordable payment plan to pay them off.
Hi! Welcome to the forums! Well, if the Sol period on the debt h
Hi!
Welcome to the forums!
Well, if the Sol period on the debt has not expired till now, then the collection agency can legally sue you. I guess, the best thing will be to settle the debts. Try to come up with $2500 by Monday. I know it will be difficult for you, but it will not be impossible. Why don't you try to take personal loan at 0% interest from your friends or family? Another thing, try to get a job. If your husband is really not able to find a job, then he can try out the various ways to make money online. Once your husband starts earning, he can make the installments easily.
I don't believe the credit card company has sold it to them. I
I don't believe the credit card company has sold it to them. I had contacted the cc company and they said they cannot negotiate a hardship plan because it has gone to a ca but they will still take payments. If they had sold it they couldn't still take payments could they?
No they couldn't. This CA is just doing what they were hired to
No they couldn't. This CA is just doing what they were hired to do, try to collect your money. I would consider two things. Either send them this letter http://www.debtconsolidationcare.com/letters/sample9.html and then make immediate contact with the OC to make payment arrangements. The danger here is that the OC will view this as unwillingness to pay and sue. Or, send the CA a letter outlining a payment arrangement or settlement offer you can afford, such as this http://www.debtconsolidationcare.com/letters/sample17.html
The CA has stated that since my account has defaulted that they
The CA has stated that since my account has defaulted that they can't take payments, is that true or are they just trying really hard to get a lump sum from me? When I contact the OC to see if they could offer me a hardship plan they said not while it's with the CA. They said if it comes back to them, then they can. How long and how much trouble will I get in trying to wait out the CA and get it back to the OC?
If the OC has instructed you they can help you once they receive
If the OC has instructed you they can help you once they receive the account back, then just send a letter to the CA stating that you will not work with them regarding your debt. You will only work with the OC.