 Credit card question... Please read. I'm confused? |
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-=Matt=- | Can debt collection agencies impose deadlines on repayment? |
Hi,
I've just been contacted by a trace and collection agency, who reckon I owe an electricity bill from 5 years ago! Madness!
Anyway, do they have a legal right to impose deadlines on repayment on you? For example, can they say 'pay back ÂŁx over 3 months' if you can't afford it? Can you suggest 6 months? Are they legally able to deny your request and proceed with litigation action if you can't afford what they suggest?
Thanks,
Matt :-) |
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Ed
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Are you in England? There is apparently no law against them giving strongly worded advice in letters, such as giving deadlines.
But they have little power. Power lies in the court. They could say "pay by dd/mm/yy or risk going to court" and many will take this as a threat, though it sometimes is better to go to court.
They can't send a bailiff until the case has been in court, and only a court can send a bailiff. |
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old know all
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They can demand all they like. They've either got to find a way of making you pay or they'll have to take you to Court. The Court are likely to let you spread payments over a much longer period.
If you feel you don't owe anything, ask them for proof. If they can't prove it to you, there's no way they're going to prove it to a Court. |
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Marie C
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tell them you can not afford what they are offering and tell them what you can , most of them are trying to hit collection targets be firm and tell them they can review it in 5 months and if you can afford nore then you will pay more |
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ALFimzadi
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They can set deadlines all they want...there isn't anything they can do unless they decide to sue you in court, and if they do that and win, then they can garnish your wages. Otherwise, ignore any threats they make on timelines. Go ahead and send them what you can if you want to actually pay them off, I promise they will still cash your payments, and if they sue you then you can show that you were making regular payments based on what you could afford to pay, to show a judge the schedule you can do. They can sue you at any time they deem...a lot of places will wait until right before it is due to be removed from your credit bureaus and then file the suit.
Also, depending on the state you incurred the debt, the legal time frame they have for filing a lawsuit may or may be up...they can still file a lawsuit, but if it is beyond your state's timeframe, then you use that as a defense and they won't win. |
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Beverly S
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They can set deadlines, but they are paid on a bonus structure as well as salary, so the more you pay, the more they make. Just tell them what you are able to do & start doing it. You don't want this as a judgment on your credit.
It's not madness that the company has come after you- you owe the debt. |
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Crazyjester9
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Of course they can, they do not have to legally accept any payment or settlement plan you offer.
What I'd suggest for you is that you check the statue of limitations on debt in your area (it looks like you might be in the UK) and with 5 years having passed, it's possible the SoL has expired and you no longer have a legal obligation to pay this debt.
Unfortunately I'm only really familar with American law, so I can't help you much beyond that.
Edit: Shortgear is a little confused. The 5 year SoL period begins from the last activity on the account like a charge or payment. |
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XENON BLACK
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I used to tell those guys that I want to setup a payment schedule.
If they told me no and ask for the full amount, I would say I can't afford that but I can give you 'whatever' per month. If they still said no, I would ask then to clarify, and I would say, so you are declining me of making any payment,is that correct?
They will say no, and insist on the full amount. Ask for their supervisor and tell them you were told that you could not make payments, and when you offered you were denied. That worked a couple times for me....good luck |
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MykeeMowse
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There are different laws for different states and once upon a time you used to be able to send in whatever whenever because it showed a sign of intent to pay but things have changed and in California they have the right to accept payment arrangements or not. Apparently, extending a payment plan is a courtesy so they will do this power play with you. It just depends on who you are dealing with. They can't impose deadlines but there is a statute of limitations on collection of the debt 7 years. So if it's over 7 years old it's really not collectable anymore. Never send them a personal check they have ways of accessing your bank accounts with routing numbers and if they are hard up or desparate for their commissions they will electronically debit your account. If you can't just randomly send in whatever you can to them without them returning it (which I doubt they would) then attempt to put what you can on a money order and then once you get what minimum payment they are asking for then remit it to them. Hope this helps. I would suggest googling the laws on collections and what your and their rights are. As I stated above, there are different rules for different states. Also, although they threatean to sue it normally does not happen unless the debt is for $1000 or more because it costs them and not you the legal fees. Also, if they attempt to sue you there would have to be a court date in which you could respond and at that time you could advise the judge they were unwilling to take what you could offer them. |
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Short3Gears
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About that law about 5 year old delinquent bills!!!!!! That is ONLY if you have NOT attempted to pay, or acknowledged that you owe during the 5 years in question!!
I don't have the specifics, but Sue Orman (she gives great financial advice by the way!! You should read some of her related books!!) and a lawyer is what you need now! |
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heathsgirl
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According to Suze Ormann, collections agencies LEGALLY cannot request payment on bills over 5 years old and it should be removed from your credit report. If you agreed to pay however, it reopens your limitation and you COULD be responsible. I would contact an attorney and ask them to write a letter on your behalf with arrangements. This way, they CANNOT do anything if you are making a "good faith effort" they have to accept whatever you give them. |
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MonaLisa Overdrive AM VT wannabe
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You are already overdue - they don't have to give the three months if they don't want - they alread gave you 5 years! |
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