I don't know too much first hand on the topic. From what I have heard from a guy at work most people can negotiate the debt down after it is sold. However if you pay along the way they will give you less slack because they know you are the paying type. Also you do need to get them to say they will take it off your report in writing or else you are screwed. I hate creditors. The only time I had them call my house and threaten me was for the cost of an ambulance ride. Seton Hospital in Austin kept mailing me a bill for the ambulance ride. I would then send them my insurance information and their number and address. They would contact Blue Cross Blue Shield. No response. This went on for 4 months and then a collection agency called. I gave them Bcbs info and after 5 months BCBS finally coughed up the money. What a headache. My dad was right though. With medical bills always wait. The insurance companies drag their feet. Then the hospital sends you a bill and you freak out so you feel the need to pay. I hate health care insurance. They are the Devil!
as long as they have your social,and bank account info correctly its more than likely you. a lot of times a misspelled name could be attributed to someone just typing it into the system wrong from poor handwriting from a hard copy file. A lot of times these files have been photocopied several times over and so the quality is poor. as for the 6k, its most likely from interest that has been accruing esp since in your first post you stated you hadnt paid this one off in sometime and now you are ready. a third party will take you legal if they have to in order to collect the money. The balance is enough for them to do so, usually if the balance is under 5k they have to see if the court fees/time/other cost is worth it. I work at a collection agency but doing IT stuff so I dont know the specifics of the collections process, shoot me an email and I can ask around a few basic questions at work.
sorry but you have it listed not to receive emails what could i provide in an email that i havent already listed?
I would call the original party you owe the money to and tell them you want to work with them, not the 3rd party. See what they can do for you.
i don't know what state you're in...what state law governs this account...what other factors are in play. but they MIGHT be past statute of limitations to sue you. MIGHT MIGHT MIGHT MIGHT. the preceding was not legal advice and i'm not your attorney. we have no attorney-client relationship. the astros will make the playoffs in 2007.
hmm i thought i changed that anyways here: shrirambhat@gmail.com oh yeah and include what state you are in like MadMax said the laws various by state
Thanks. ow would I find that out I understand, i am not trying to start any kind of legal relationship on ghere at all thanks agains
clarkhoward.com he is a great consumer advocate guy on the radio http://clarkhoward.com/cgi-bin/htdi...ct=&cat_selected=All Categories&sortdis=Score
Way back when my first marriage ended, I let some of my debts go for a while and defaulted. Some of those were sold to 3rd party debt collectors. A few years later, I started getting those offers to settle. Invariably, they would be at least doubled from the original balance (one was over 5 times the original amount of the debt. I figured out what the debt would be had they simply added the default interest rate frim the time the debt went bad, and I couldn't get it as high as they were saying the debt now was, so I don't know how they calculate all that). Any time there was an offer, there was pressure to take it. The whole, "You have to take it by this deadline or we'll file suit against you and you'll have to pay the whole thing" deal. If I could make a deal to pay it at that time, I would. But if I couldn't get them to a place where I could pay then, I declined. They reiterated the threat to sue and we parted ways. A couple of months later, I'd get another settlement offer, lower than the one before. So, based on my personal experience from several years ago, I think you can stall them until you have the money to pay the debt and end up paying an amount that's lower than what you originally owed. Sometimes I wonder about debt collectors, though. I had one who called, and I made an offer to settle it. They told me they accepted the offer if I made the payment that day. I told them I'd make the payment that day, but I had to have a letter in my hand outlining the terms of the settlement. They refused. Never could get a letter from them. Never did pay them. Wanting a letter proved prescient recently. A few weeks ago, I received a letter from a collection agency saying I owed a couple of hundred dollars on an old credit card account left over from my divorce. I had made a deal to settle the account for less than I owed, received a letter saying my payment was considered payment in full, and then the creditor turned around and sold the remaining amount to a collection agency despite the settlement.
I found out that that the statute of limitations in my state for my type of debt is 3 yrs but what does that mean exactly
Sounds like they can't legally collect on your debt because the SOL has run out. Becareful what you say to them because if you make a promise to pay the SOL becomes null and you will be liable again. Look for a credit website that offers a combined credit report and challenge the debt based on the SOL with all 3 major credit agencies: Transunion, equifax, and experian. You may be able to remove the bad account from your credit report without paying a dime.
My guess is they won't sue you. Legal fees are way to expensive if they want to go through a whole trial. A law suit to collect $3000 or even $6000 might cost them more than that in lawyer's bill alone. I don't really know this area all that well, but the economics just doesn't seem to make sense. I'm guessing there are some public interest legal services places you can consult with. Talk to someone who handles this kind of cases.
What if I didnt make a promise to pay but said i didnt have the money right now but told them when i would have it i told them i didnt have the money right now but i would have it at a certain time but i never said i would pay it at that time and then i told them they have permission to talkj to my mother which they did and she didnt promise to say anything either but they told my mom that i agreed to make monthly payments then pay it off in several months which i didnt i gave them permission to to talk to my mother because i thought she might be able to pay a monthly fee or the min balance but she never agreed either. can they flip that no me some how
i sent you an email earlier, i wont be checking my work email over the weekend (i had a rough week i dont wanna ruin my weekend with work) but if you sent me an email there i will do what i can to help you out, like I said right now the timing is bad, but if possible i will try to help
Ok, the statutes of limittions on open accounts, written contracts, promissory notes, and oral agreements in Terxas seems to be 4 years. http://www.bcsalliance.com/debt_statutes_of_limitation.html From what I understand from reading that site, is that you are not obligated to pay the debt after that time. The reason fro having the SOL is so that debtors dont have to worry about getting sued for the rest of their lives. I have some CC debt from college. I think it has been more than 4 years since I have paid. Perhaps someone else can explaint his better.
OK guys i got a report from transunino on ym credit and i got some question. i see something thata re small but past due like a $79 ambulance fee and stuff like that. the credit report doesnt list anyeway to get in touch with these creditors so i am wondering how do i get in touch with them to pay this off? and if do pay this will it get reported as paid to the credit agency. also i see an open account that i opened at a jewelry store a long time ago yet never used would clsoning this accoutn help my score any?
A similar thing happened to me too. It's best for you if you ask them for an invoice or a way to verify the debt. I also received letters from their lawyer promising "legal action", but that's the farthest line they can reach under current laws. Also, tape every call between you and the debt collector. Better yet, snail mail correspondance and certify it at the post office for future reference. I later found out that as time goes by, the debt is passed on to other collection agencies, and it's harder to provide a trail of the original invoice. Without verification of the debt, it's also harder for them to knock your credit rating (though it could already be hit from the original creditor). I'm not telling anyone to stall and be a deadbeat. It only makes sense to pay something that you actually owe with a bill right in front of you. For all you know, the collection agency is trying to strong arm you for a bill that isn't yours.
Debt collectors are friggin savages. My mom had an American Express card and she transferred to balance to another card. For whatever reason, the BT didn't go through and she missed 2 payments with AMEX. AMEX sold the debt to a collector. When the collector called yesterday, we realized that the BT didn't go through and we immediately got the balance transferred again. The BT will take a couple of weeks to go through. We informed AMEX and they were fine with that. They noted that on the account, thanked us, etc. We called the collector this morning to inform them and they want no part of hearing this. They are threatening to contact my mother's employer, her corporate office, etc. All of this crap AFTER THE DEBT IS IN THE PROCESS OF BEING PAID IN FULL. These a$$holes are trying to get my mother fired from her job. I don't know how these guys sleep at night doing what they do!
