Creditor threatens to send my account to an Attorney to pay

Date: Sat, 08/11/2007 - 23:35

Submitted by yumijp
on Sat, 08/11/2007 - 23:35

Posts: 7 Credits: [Donate]

Total Replies: 2

I got a letter today from midland credit management, asking for a debt in the amount of $1,181.56. The Debt is from Aspire Visa, a card I used to have (I no longer have or use any credit cards, obviously).. I could not pay it all off since I lost my job and i'm having trouble finding a new one. I can't pay off this debt in this amount .. it originally was NOT over $1,000, it was $630. They added on all these late fees / interest when I could not pay over a amount of time. I tried to make small payments, but obviously they didn't help, it just got larger and larger. The account has been in collections for a while and so, it doesn't matter how much I pay, it's still not enough.

They sent me a letter saying:

Quote:

"This letter is to inform you that Midland Credit Mangement, Inc. Is Considering forwarding this account to an attorney with the intent to initate legal action to settle the debt.

Please call our office immediately at 800-939-2353 to make arrangements to pay this debt and prevent any legal action on your account"

What do I do?? I cannot afford this .. I have absolutely no funds, and there no point in calling telling them that because well, what are they gonna do?

I've told them that I can pay it when I get a job, which I am currently looking for, but if the case goes to an attorney, what are they gonna do? even if I will have to go to court, that's still not going to get them money .. because I don't have it. I also have no assets, no car, no house, or anything. So what can they do?

I'm really worried. I am still trying to find any job I can, but even if I do, it will take me a while to save up that much money.

Can they still take me to court and or sue me? what can I do if I cannot pay it all off?

Thanks for your help.

Midland Credit has given you a phone number to call at their off

Midland Credit has given you a phone number to call at their office. You should call them and ask for the debt to be validated according to the federal laws. You want to be sure of dealing with the right company authorized to collect the payments on behalf of your creditor.

Once the account is validated by the attorney, draft a proposal letter mentioning the amount that you will be able to afford each month. Even if they take you to the court, the judge will see all your options before they think of putting a judgment against you. Your willing to pay back is most important in their eyes. And, if you can afford partial payments, you will be safe.

lrhall41

Submitted by weeswie on Mon, 08/13/2007 - 17:24

( Posts: 382 | Credits: )

well, someone told me not to call them, just communcate through

well, someone told me not to call them, just communcate through writing. I'll send a letter.

So, shall I send them $20? thats all I can afford a month.

lrhall41

Submitted by yumijp on Mon, 08/13/2007 - 19:37

( Posts: 7 | Credits: )