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2 Bumps

Credit Card Debt Problem/Question....

First and foremost, I want to acknowledge that I am solely responsible for my own debt. The only honest thing to do in my eyes is pay people back......I don't believe in bankruptcy. With that said, my husband and I have both not had jobs for the past 1 1/2 years. WE both have tried everything to get jobs and all he could get was part time work that would BARELY pay one or two bills and gas to get to work. We have been helped out by so many people and we appreciate all of it. All this time we've been contacted by bill collectors only being able to tell them the situation and if we had even $1 to give them we would. And we literally meant it. Well both my husband and I had credit cards that went into collections at the same company. We were recently contacted, and I told the lady I was so happy she called because we didn't have their current number where our debt was....so I talked to my husband, called her back and committed to 50/per credit card a month so a total of 100/ month until we get our tax return next year and then we were going to slam it all on those cards, paying them off. Great right? NOT..... They want a DOWN PAYMENT for the debt. She said she could get it to 15% of the debt and it was about $1400. DH just started working and we have NO WAY to even get this money. I told her it would take until after our taxes were here next year to even attempt to save that much up! I'm at a loss. They also won't accept anything but electronic payments via our bank account but they want this DOWN PAYMENT to even start that! They won't allow any other form of payment! No mail in checks or anything! Can someone guide me in the right direction of what to do? I felt so excited to give them SOME money and I'm stuck. They wouldn't even take our $100/month payments.......NOW WHAT?!

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Anonymous

Asked by Anonymous at 11:50 AM on Jun. 29, 2011 in Money & Work

Answers (12)
  • WOW! I really don't know. I wonder if you can talk to her supervisor? Keep bothering them and make it clear that you are willing to give them something (that's better then them getting nothing). Go to someone higher up and complain that you cannot pay your debt because they will not accept your payments.

    CRAZY that you would have to go to so much work just for them to get paid. Shouldn't they be the ones doing everything they can to get the money??
    micheledo

    Answer by micheledo at 11:53 AM on Jun. 29, 2011

  • Well there is good news and bad news, the worst than can happen is they file a suit against you, and you would get your wages garnished, but you can file a head of household thing, that would amount to about 10%. I honestly think you should call a lawyer, there are many types of bankruptcy, and there are ones you can pay back over time.. so sorry momma,,
    kimigogo

    Answer by kimigogo at 11:54 AM on Jun. 29, 2011

  • I think you should also go to consumer credit counseling, this might be a scam.
    kimigogo

    Answer by kimigogo at 11:54 AM on Jun. 29, 2011

  • She got it down to 500/per credit card for the down payment, but again, that would take a while! I don't want this to go to court and wages be garnished because I feel like we'll be back where we've been the past 1 1/2 years not even being able to put shoes on our kids. My family has helped us with all of that. We are so grateful for all of that, but now we're faced with this road block, not letting us go forward and paying people off!
    Anonymous

    Comment by Anonymous (original poster) at 11:55 AM on Jun. 29, 2011

  • They have other programs. They do. You just have to call and talk to supervisor after supervisor. They really do not transfer you to a supervisor just another employee. But keep demanding to talk to the next supervisor. It is a pain, but you will get somewhere with them eventually.
    pookiekins34

    Answer by pookiekins34 at 11:55 AM on Jun. 29, 2011

  • This isn't advice I give often, but just don't pay them. If they won't take what you can give, then you're at an impasse. They may go and get a judgement, but then it will be done with and will go off your credit report in 7 years. But before they do that, they will probably realize that they need to take what you can give and be more willing to work with you. You can also contact the original cardholder, NOT the collection agency, and see if they are more willing to work something out.
    missanc

    Answer by missanc at 11:56 AM on Jun. 29, 2011

  • I would ask for something in writing stating that they are refusing your payment of $100. Chances are they are going to change their tune on that because when they try to sue you for the amount, they aren't going to want you to have something in writing from them saying they refused to take your money.
    Mom-2-3-Girlz

    Answer by Mom-2-3-Girlz at 1:01 PM on Jun. 29, 2011

  • The collection agent is being a hard a** - you cannot get blood from a turnip. Tell her to accept YOUR terms or they can proceed with a suit for collection. You can then present to the judge the terms you offered that were REJECTED.
    tasches

    Answer by tasches at 1:07 PM on Jun. 29, 2011

  • I was in collections - as a job- for quite a while, send them what you can snail mail, they will not send it back, I promise. It will be on your credit, but at least you'll be started: ) Hey, it happens to the best of us though! Huge pat on the back for you, a lot of people would not even think twice about it!
    yesmaam

    Answer by yesmaam at 2:52 PM on Jun. 29, 2011

  • yesmaam.....they said they do not accept any payments by mail....would I just send it anyway????
    Anonymous

    Comment by Anonymous (original poster) at 2:56 PM on Jun. 29, 2011

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