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Rachel H | Can a business send me to collections if I am making regular monthly payments? |
I have a bill to a local business that I have making payments towards, consistantly for several months. Now they are threatening to send me to collections if I dont pay the bill in full. Can they legally do that, if I'm making payments?
The balance on the bill is approx. $780.00 (with a 1.5% month interest rate - 18% annual)... and I'm sending them $40.00 per month.
Additional Details
I have a bill to a local business that I have been making payments towards, consistantly for several months. Now they are threatening to send me to collections if I dont pay the bill in full. Can they legally do that, if I'm making payments?
The balance on the bill is approx. $780.00 (with a 1.5% month interest rate - 18% annual)... and I'm sending them $40.00 per month. |
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Chris
 |
Sure they can but it would be stupid on their part to do so. Technically any time that you are in default on the original agreement they can take various actions. The collection agency will likely give them 10 cents on the dollar which means they would get $78 and you would be giving them $80 every two months. You can call their bluff because they cannot legally tell you they are going to do something that they are not. If they are making idle threats they may be in violation of section 807 of the Fair Debt Collection Act. Which means you can sue them for $1000 plus attorney fees which at $250+ per hour can be quite large.
Sometimes in small businesses you have overzealous employees trying to be heroes and practicing unscrupulous behaviors. I would call and try to speak with the highest ranking representative you can and see if you can work out a written payback plan. If you can get it in writing then they won't be able to send you to collections as long as you don't violate the new agreement. Good luck with your debts. |
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Iceman
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Its not in their best interest, have you been timely, it sounds like only half of the required, pay't. They can utilize a collection agency, its not the end of the world, carry on with timed goals, don't let them get to you, thats the most important part, they create way too much stress over money, we still have to survive societely... |
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melissa
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yes they can send to collections, when it goes to collections you can continue to make your payments like you are now to the collection company. you can also ask the company that you owe if you pay them half of the bill now, will they write off the rest, they might do that because the collection company is going to charge them |
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d9d
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If the "payments" was NOT specified in the contract, yes. If they included payments as an option then, NO. I am assuming they wanted it by a certain date and you failed to do so.
Seek legal advice. |
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serene e
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Well, what is the minimum monthly payment? If it's $80 and you're paying $40 every month, then you are behind in your payments. If the minimum is $40 and you're paying $40, you should call the business and talk to them about it because you are not behind. |
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cyclone259
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Yes it can. My wife and I incurred a medical bill because of an emergency room visit. We made payments, but were turned to collections because we didn't meet their minimum ($25.00/month... we were paying $20.00/month). We only learned what they minimum was AFTER we called them. You might check and see if the business has a clause like this on payments. |
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leaann2006
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Collections is usually done when no payment is being made. But, your debt can be sold to a collection agency, meaning they pay the original company what you owe and then bill you. |
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Barbara S
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If $40 is at least the min. payment and you make it on time, they can't send you to collections. |
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UberMommy
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My first thought would be no, they can't. But you should review the terms of your contract or purchase agreement, they may have some clause or loop hole that you don't know about. |
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hotpants4512
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I have a bill from a hospital emergency room visit for a few hundred more than $780.00 - I send $10 a week. They originally told me that I had to pay more, that the $40/$50 per month (depending on how many Fridays fell in that month) wasn't enough. I told them right then & there they could send it to Collections if it wasn't enough & reasoned w/ them that I'd still only be able to afford to send the collection company that same amount. They'd be paying the collection company to collect the exact same amount I'd be sending them, therefore losing money in the process. They've never bothered me again & have sent me monthly statements w/ revised balances as the payments post, with the message "Thank you for your recent payment of $x.". I'd advise you to try the same tactic as it worked for me. If you're making payments & it's all you can afford, a collections company isn't going to make a difference & will just cost them more money in the long run. I live in Milwaukee, Wisconsin (USA). Hope it all works out for you! |
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briley_can
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why dont you just negotiate with them on what a monthly reasonable payment should be. Unless you have a deal on what to pay, then they can send you to collections. Check your contract on payment terms, next time read the fine print. |
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