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Debt collectors

I have been working to improve my credit, but my husband and I don't make very much money. My credit has improved a lot though. I have paid off most of my debts. I received a call from a collector about a hospital bill that my credit report says will be removed in 2012. I think they are just trying to collect the debt before it rolls off and I don't really have the money right now. If you are going to bash please don't answer. I just want to know if I am right. If I don't pay it. It gets removed regardless, right?

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Asked by Anonymous at 10:53 AM on Apr. 6, 2010 in Money & Work

Answers (7)
  • I couldn't imagine getting calls until 2012. Just try to make an attempt to pay some of it.

    Answer by Anonymous at 11:57 AM on Apr. 6, 2010

  • If it's Portfolio Recovery Services (PRSI) don't pay them, don't talk to them, don't bother. They are a scam and will not remove the debt if you pay them. They buy charged off debt for pennies and try to con and scare people into giving them money which is pure profit. Do a Google search on the company's name.

    Answer by Anonymous at 12:05 PM on Apr. 6, 2010

  • If the debt remains with the original creditor than it will drop off in 2012, but you will still get harassing phone calls til then. If the account is sold to a collection agency the statute of limitations starts all over again. Nice right? Yeah, there's always a loophole. It's amazing that these lending institutions and debt collectors get away with this stuff!

    My suggestions to you...DO NOT stress yourself out over a debt. If you can't afford to pay it, you can't afford to pay it! If you want to stop the harassing phone calls get the name and address of the creditor and write them a cease and desist letter...this way they will only contact you via mail (you can google a template) Another option is to pay what you can towards it every month, even if it's only $5 for now. You can only do what you can do. DO NOT allow the creditors to bully you! They WILL use scare tactics to get you to pay! Know your rights! Hope this helps!

    Answer by DFSNIKKI at 12:16 PM on Apr. 6, 2010

  • DFSNIKKI, Maybe you are talking about something else, but a cease and desist letter means they cannot contact you period, unless it's to sue you. And just a heads up, they will sue you if you send them a cease and desist letter. What else can they do? you've basically pushed them into a corner with it.

    OP you can try to settle the debt. Say you owe $1000, call and ask them if they will take $500. Have the $500 before you call them. You can also set the guidelines for the collection agency. Maybe they can only call once a week, or every other week, and only between such and such hours. If they call any other time, just hang up on them. They'll figure it out eventually.

    Answer by Anonymous at 10:48 PM on Apr. 6, 2010

  • I can appreciate what your saying but I know what I am talking about....I have been in the credit/debt relief business for over 8 years. The cease and desist stops the phone calls, they will still send you correspondence through the mail. They will not sue you if you write a cease and desist me I do it for my clients all of the time. A creditor is not going to sue you in most cases, especially in this economy, b/c they know it will not go in their favor. They are not going to waste their time or money taking you to court unless you owe a large balance. The chances of a consumer being sued is less than 1%.

    LOL! I appreciate your innocence, however, no collection agency is going to allow YOU to set the guidelines. If you don't have the money they will call you off the chain everyday. They have the right to call you up to 15 times a day. Look up the Fair Debt Collection Practices Act!

    Answer by DFSNIKKI at 10:31 AM on Apr. 7, 2010

  • Settling your debt is not as easy as you think it is. Why would you want to pay 50 cents on the dollar when you could pay much less than that. Regardless of what you payback it's still going to show the same on your credit. The amount you payback has no bearing on your credit score. You just have to know what to say to these creditors and how to say it. These creditors are going to bully you and lie to you to instill fear so that you pay the most amount possible. Trust me I deal with them for my clients on a daily basis. You have to be one step ahead of them.

    If you need advice feel free to message me...I can walk you through it! :)

    Answer by DFSNIKKI at 10:36 AM on Apr. 7, 2010

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    Answer by alexiediaz at 2:54 PM on Aug. 6, 2010

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