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Date: Thu, 12/23/2010 - 08:27
I am going thru some serious financial issues and need more time to resolve them. I have less than $10k in unsecured debt . In 9 months I will be able to pay everything off, whew! In the meantime tho, I am struggling to make any payments. 1 credit card is with a collection agency. There is a good chance I can make some type of arrangement within 30 days for a small amount of that debt. My question is....how can I get more time? I want to avoid any legal action. How long can a collection agency pursue you before they begin legal action?
How behind are you? If you're certain about that 9 month time f
How behind are you? If you're certain about that 9 month time frame, it might be better to alternate payments to keep yourself afloat until then. If you have 3 cards, pay 1 this month, 1 next month, 1 the month after and so forth. I'd stop all payments 90 days prior to when you expect to have the money to settle. That will likely help you negotiate a better settlement rate.