halestrm
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No I don't agree. The time to negotiate on a debt is prior to it getting to collections. Generally you can avoid all fees and sometimes lower rates if you contact the company you owe and work with them.
If people knew that they would get a lower bill by letting it go to collections, how much incentive would there be to paying on time? |
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jjjjjjjjj
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You shouldn't try to make others responsible for you acquiring debt. Don't buy things on credit if you can't pay the bill. |
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christine_
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Because they are losing money when you don't pay. |
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ohyano!
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No because then everyone would stop paying on time so they could get the low rates you stupid head. |
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Zarango
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I agree, it makes no sense to say "You don't have enough money to pay us right now, so as punishment you owe MORE" that's dumb. However, I don't think your rates should be lowered either. I think perhaps if you can't pay they should allow you to break up the payment in smaller payments or something. And if you flat out just can't pay they should just shut off or take away the service or thing you are paying for. In the case of a credit card, they should de-activate your card until your balance is paid off, that's what I think. |
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zonkr68
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if you can't pay it means your a higher risk and they are trying to make as much money from you as they can before you file for Chapter 13 |
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Stephanie J
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Do you have any idea the amount of money they lose when you don't pay your bills? Besides the obvious of losing the money you are not paying them, and the interest it could earn in their account, they spend crazy amounts of money on employees trying to contact you about your loan, employees looking for you because you skipped town on your loan, phone bills trying to call you, call your refrences, call your employer.
Now you really won't pay, so now they have to go legal on you and have to pay court costs, attorney fees, more man hours.
So, this should come out of THEIR pocket? Because they were kind enough to lend you money when YOU needed it?
If you were to kindly call and explain your situation and offer to pay whatever you were capable of, they'd work with you. When you dodge the phone calls and the bill, it makes more work for them, resulting in more $ spent. |
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psubowler300
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That's the dumbest thing I've ever heard. If that were the case, people would wait years to pay their bills because the amount due would get smaller and smaller. You have to give people an incentive to pay on time, in this case the incentive is no penalties. |
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meg
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It's a business investment, they have to make money somehow, and that's through late fees and high interest rates. |
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bevrossg
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Go to daveramsey.com and learn how to handle these collectors. There IS a way out of debt! |
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SmartA$$
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if someone owed you money, and didn't pay you, would you decrease the amount they owe you or would you charge them more for being late to pay you back?
If they lowered the rate everyone would just wait until their bills were late to get the lower rates.
Before you borrow money it is your responsibility to make sure you can afford to pay it back, and then you need to set aside that money and not spend it on other things
The only way to get bill collectors coming after you is to make bad personal choices, so man up to your mistakes, pay your debts and stop blaming other people for your mistakes. |
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Brightlight
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They have loaned you money. Instead of keeping the money and making interest, they have loaned it to you, with the understanding that you would pay it back in a timely manner. If you have gotten in over your head, call them and ask them politely to lower the fees (probably won't get the interest lowered). I have had success with a company when I missed the due date and they removed the fee simply by my being courteous with them on the phone. |
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biwagirl20
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I see you point, but you also have to understand that the original creditor has lost money by turning it over to a collection agency and they add fees as well.
It is also a deterant, if you know you are going to get charges a bunch of fee you will less likly be willing to not pay your bills and get turned over to collections.
These laws are in place for a reason, to punish people that do not pay thier bills. Just the same for people with bad credit, you always pay a higher interest rate.
i know is doesn't make sense logicly, if you can pay the credit card company the $500 you owe thme thne how are you coing to pay the collection agency the original $500 plus cllection fees? I agree with that statement, but remember, it is a punishment for defaulting on your agreement to the creditor.
If these types of fees were not imposed, people would always pay late ans go in to default. If you never had to pay an NSF check fee people would write bad checks all the time.
Understand? |
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luckyone_27105
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Sorry but you live in a capitalistic society where people would sell their mother's body for pig food if they could make a buck off of it and "kicking a dog when it is down" is their mantra. You can forget politicians making changes because they get elected on the big bucks made by companies from screwing their customers. |
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SvetlanaFunGirl
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It doesn't make sense that you buy things you can't afford, don't pay the bill and force the seller to PAY someone to go collect their money from you, deadbeat. |
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S J
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If they charged less than no one would pay their bills. Pay the money you owe on time and you wont have any issues.
Did you ever think of the problems you cause companies when you don't pay your bills? |
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valda54
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too true. my son was in debt to the bank owing the bank a couple of hundred quid. he became unemployed, and could not keep up the payments, they handed it over to dept collecting agency when he became employed again, he agreed to pay them off at a certain amount per month, then he los his job again and couldn't keep up the payments, the debt rose again, incurring cost each time i know it is his stupid fault for ignoring them. but every time he opened a letter the debt had gone up and up, they have moved it on again,i told them he no longer lives here, they keep threatening him [ my home] with the bailiffs, but i never here from them. he has been gone 4 years from my home, but all his mail comes to my address. but the debt has got that big, he is like an ostrich, hiding from it |
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Studly
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Those stupid fees is how they make their money. Credit Card companies made over $80 BILLION last year, mostly from those fees.
Oh, but that must be wrong because people tell me they are losing money, that's why they pass on bad debts to users in the form if higher fees.
So....whatcha gonna believe folks?
Bottom line is shop around. You will notice that many credit unions do not charge a lot of those fees. |
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D S♦T♦A♦R♦S
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It's true I hate bills I mean this people all they care about is money money money and they dont care where it comes from they just want their money. I think that is wrong I mean some people struggle so much at times to earn a pitance of a paycheck and the bill collectors dont bother to know in what economic situation people are. It really sucks and I feel what you are saying and what you are feeling. Best wishes go out to you. |
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Bryer B
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I agree, actually they should just wipe away all my debt |
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