payment refusal

Jim - what type of debt are we talking about here - credit card debt, mortgage, payday loan, medical bill?

Jim,
I am not sure of your situation but if your state has any old poor man debtor laws on the books refusing payment would not put creditor in a good light. Just my $.02.

Good point by you, cajunbulldog!

Most creditors will not refuse a payment, even though they can. Mortgage companies are the ones that will sometimes do that, when a home is headed into foreclosure, or they will hold the payment in escrow. (At least that's what I've heard - never had it happen myself - someone please correct me if I'm wrong.)

I am from Louisiana and I mentioned that law because believe or not it is still on books from the 1930's.I once helped a friend in trouble with collection agencies using this law and forced them to take $5.00 a month until debt was paid. You talk about some unhappy people when they found out I was not blowing smoke!

cajun, I have a CA that will not accept less than $50.00 a month. How can I get them to accept the $5.00, and do they have to??

natdust20,
First off you need to look into your state laws regarding credit,collection,& finance. Once you have determined what are your rights under state rules,it is time to break out the louisville slugger and start negot. with them. Since most collection agencies report to credit bureaus, you probably already have the negative marks from them.So unless they decide to sue you,there is very little else they could do to harass you into paying it. I have always stuck to the time tested adage that it is better to get all your money over an extended time period than to get nothing. Even if they decide to sue you,all they have is a judgement that may or may not be enforceable depending on your finances and your state exemptions. If you find some money under a stone you have option of offering a lump sum for a letter stating they will remove all entries from credit reports. I am not a lawyer or a bill collector.

If you can push them to accept payment arrangements,use money orders or prepaid credit cards as they have no business with your banking information. Now they still may sue you once payment arrangements have started.This is when you show court you have made an effort to pay but are unable at present time. This would help in their eyes.If they sue you,demand a jury trial.