 When you marry someone with a poor credit history, can you avoid having your own credit ruined? |
| Our son is preparing to marry a girl who owes about $3500 for medical care. It's been on the books for more than a year, she hasn't been able to pay anything on it, and she has elected not ... |
|
 $16k in debt--Solutions? |
| Hi! My husband and I have about $10k in debt split up through 5 credit cards, and personal loan for about $6k. However, we do own a home with a mortgage of only $100k, and are making payments on a ... |
|
 Ryan is with another girl so what do i do so i can stop them cause i really love them? |
| see i was with him for a very long time and he just broke up with me and got with another girl o what do i do.... |
|
 Can I get a Debit Card with a Visa logo on it at the age of 17? |
| I just wanted to know if I could open one up, and what I would need, if I can, to open it up. Thank ... |
|
 Does this sound like a scam? |
(from craigslist)
I am satisfied with the conditions and price as stated. I will like to make payment to you through Money Order... The check will be drawn from my company account...The ... |
|
 HELP......just found judgement on credit file!? |
| I had a loan with a credit union and paid it off (so I thought) back in Nov. 1007. The balance was around $14,000.00. Seems there was still a balance of $979.00 left. The loan was taken out in CA and ... |
|
 Too many credit cards? |
| I have many credit cards: two are from major financial institutions (chase and citi),others are from different stores (express,banana republic, vs)I have about 15 credit cards, is that bad? Should I ... |
|
 PROBLEMS REPAYING C/C DEBTS- can we approach the companies and arrange a settlement figure? |
| We are massively struggling to pay off our debts as my partner lost his job...another victim of the credit crunch...we have been taking any work we can get but it's not enough and now we simply ... |
|
 I can no longer afford to make payments on my Flat Screen TV. What should I do? |
| I financed it for 3 years about 2 years ago and I owe about $1,600. What If I just just stop making payments and wait for them to come pick it up... Will doing that affect my credit?... |
|
 How can I bump up my credit score? |
I have a 560 something and is fair.
I hate buying things on credit so I always buy everything in cash.
Additional Details
I don't have any credit cards.... |
|
 I have 3 credit cards (1 is dept. store) but i only use one which is visa, should i close the unused visa? |
| The credit cards that I do use are my department store card, and my primary visa card which i have had for over a year and a half (1,500 limit) the other card i do not use is an amazon visa card ... |
|
 Someone I know did something very bad to me? |
| Infact she messed up my credit score when I was trying to help her. I know her social security number but I don't know her drivers license number, how can I get her back and make her pay for ... |
|
 Is credit card debt, destroying the life of people.? |
Some people owe staggering amounts.
When you owe over 3K on a credit card and only pay the minimum payment it would take 10 years to pay it off if you mever used it again.
I believe they ... |
|
 I have bad credit i would like a store card? |
| i have a bad credit rating and would like a store card for one of the major electrical stores or to be able to finance ££250... |
|
|  |
Kk | I have run into financial trouble this year, and collection agencies are threatening me.? |
Do collection agencies normally file judgements and if so, are they mostly on larger balances, or do they just normally carry them as collection items? I have one or two credit cards that the balances are over $10,000, and am worried about judgements being filed. |
 |
 
cpaige517
 |
First take a deep breath. Collection agencies only have as much power as you give them. If you actually owe the money and you do not dispute the balance that they claim you owe, make an attempt to set up a payment plan with the collection agency. Make sure you do everything in writing and via certified mail. Send them a letter acknowledging the debt and let them know that you have every intention on paying the debt ( if that's the case ). When you write them a letter send them your first payment as a show of good faith in following the proposed payment plan. DO NOT AGREE TO A PAYMENT PLAN YOU CAN NOT AFFORD. In your letter, let them know that by cashing your money order or check they are acknowledging the proposed payment plan and are in agreeance with it. I am not an attorney, and I am not giving you legal advice. I know for a fact that this method works because I use it everyday. To stop the phone calls send them a cease and desist letter and tell them that you will only communicate via mail in reference to the account. That will stop the calls all together guaranteed. Tell them do not fax, call, email, call your cell phone, work, or friends in reference to the alleged account and they will have to abide. MAKE SURE THE SEND THE CEASE AND DESIST LETTER CERTIFIED AS WELL. You will get through this. Everyone has a situation at some point in time. You are not alone. I hope this helps. |
|
Zonie
|
Collection agencies need to get a good faith effort for payment and if they don't - they go to court and get a judgement for the money. They buy "bad debts" so they have everything in place to go through the judgement process and do whatever they need to do to get their money.
Once a creditor has a judgment against you for unpaid bills, the creditor can try to collect the judgment through garnishment of your wages or bank account or by taking your property through a sheriff's sale. But, in many cases, your wages, income, or property may be exempt from collection, which means that it cannot be taken from you.
Every state has a credit assistance service that will contact the collection agencies on your behalf and make arrangement for you to repay. It is better to take that approach than to allow your credit to be ruined by doing nothing. It will take you years to correct your credit if you do nothing.
Know your rights: www.ftc.gov/os/statutes/fdcpa/fdcpact.ht... |
|
grierGRIER h
|
1. Don't avoid the credit collection agencies call. Respond to them and make sure they get the message that you intend to pay your debts.
2. Be polite in conversation with the credit collection agencies. Don't let things slip out of hands, and don't let them dominate things. If they abuse you tell them politely but in firm words that this is improper behavior and since you are co-operating with them in debt repayment rude things are not required.
3. Explain your situation clearly to the credit collection agency, what caused the debt, whether it was an emergency situation that took things out of hand or anything else. Tell them clearly and mention your existing financial situation. Ask them to lower interest rates, or provide all the help they can offer.
4. If you are waiting for any positive outcome in near future that could ease the debt burden, inform the credit collection agency about it. It could be a salary raise, some bonus, or any other monetary gain. When the credit rating agencies know it, they will certainly consider it. Read more from: http://www.credit-card-gallery.com/article/253,Stressed_with_credit_card_collection_agency's_calls_Stop_things_from_getting_worse_with_these_5_surefire_tips |
|
Studly
 |
There are several variables...but generally collection agencies will sue for debts over $2000. Less then that depends on where their office is located. If they are out of state and have to hire a local attorney or agency, that costs them money. Debts of $500 they won't mess with (as a rule)
Your $10k is a tempting target. |
|
kiersysmom
 |
Use to be as long as you sent them ( collection agencies) some type of payment everymonth that was showing willingness to pay and they could not touch you. Don't know if that has changed or not ? My best advice would be contact a debt mgt. co. and and your debts settled using them, it will take a while but they do work. Don't get anymore loans or credit cards to consildate what you have. that will only get you farther in debt. Start getting them paid . Good Luck |
|
mister ed
|
i hate to tell you this but you made the bed == sleep in it -- what you call threatening -- if some one owe you 10,000 and wasn't paying you and you treated them like you say you are being treated would you say it is threatening.. more and more credit companies are getting tired of dead beats and people trying to beat the system by chp 13. you best bet is try to work with the credit card company get you debt off as quickly as you ran it up. |
|
khalilkyd
|
Hi ,
Collection agencies will only go to court if they can make
money . Because it costs them a lot to take you to court.
but they can screw up ur credit rating for years to come .
Regards................. |
|
skinemini
 |
Try talking to a debt consolidator or even a chp 13 bankruptcy will help you pay back the debt and avoid the harassment. |
|
Etta P
|
Yes, they can and usually do file civil suits so they can be granted a certified final judgment of default. With that the creditors can Levy bank accounts, garnish wages, and lien real property. This will appear on your for at least 7 years. The IRS requires that a company make all attempts at their disposal under the law to collect a bad debt before they can "charge off" and thereby not required to pay taxes on that income. Perhaps you should consider consulting with an attorney to file a chapter 13, this is a re-structure, pays your debt off over a period of time and stops the creditors from pursuing the debt in the ways I indicated above. Your credit score will really be adversely effected either way, (judgments or chapter 13) but at least future creditors can see where you had financial problems but did the right to resolve the issues. I have provided a website that may be of help.I wish I could do more. Good luck to you. |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
10 | 11 minutes(s) ago
| | | |
10 | 40 minutes(s) ago
| | | |
10 | 42 minutes(s) ago
| | | |
10 | 1 hour(s) ago
| | | |
10 | 4 hour(s) ago
| | | |
4 | 6 hour(s) ago
| | | |
9 | 10 hour(s) ago
| | | |
10 | 2 day(s) ago
| | | |
10 | 1 week(s) ago
| | | |
10 | 1 month(s) ago
| |
|
Homepage 
Financial
Forum 
Credit 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
