 How do Banks become rich what do you think of them ripping off civilians i.e. tax payers/low income families? |
| Without naming names, as one has to be politically correct these days, this is a true story of how Banks can be a mere rip-off than a help. I came to the UK & went straight into study. As a ... |
|
 Should i join a website tha pays you to take surveys? |
| i recently quit my job to go to school and now i am left with no extra spending money , would joing a survey website that pays you be a good idea?... |
|
 Financial Help? |
Today, I have had a long think about my financial situation. I am young and have no savings since I blew them on the most abstract and useless rubbish as a teenager.
I am going to start ... |
|
 If my salary is going to be $61,000 a year, about how much could I expect my paychecks to be? |
If I get paid weekly, and I get 3 weeks paid vacation and 5 weeks unpaid vacation time, and there are 52 weeks in a year, after taxes, approximately what do you think my weekly pay would be?
... |
|
 Dumb question? |
| so I'm not big on banking stuff...... can I use my credit card to purchase a money order or cashier's cheque?... |
|
 I have no money!!? |
| I have no money for the next week and I am starving. I wasn't able to buy any food after I paid my bills and now I don't know what to do because I already went one week without really ... |
|
 Extra cash needed...any advice? |
| I have a full-time job and am a single parent, without selling my body (!!) I'd like to bring in a little extra money....any ideas? I usually have one day a weekend without my children.... |
|
 What's the maximum you can put in to a bank account (UK) at any one time? |
| I have heard that if you put any more than £50k in to an account at any one time then bank staff have the right to ask you where you got the money from in case it is connected to criminal activity. I... |
|
|  |
bourne771 | I owe $2000 to a collection agency I cant pay the debt should I just file for bankruptcy? |
Additional Details
I don't work, I am a full time student.
|
 |
 
Angellight916
|
Well, $2000 is a pretty small amount to want to claim bankruptcy for. You wouldn't want to damage your credit over that. As urgent as the collection company may make it sound, it's not! If you are not able to pay them or make payment arrangements at this time, send them a Cease and Desist Letter to stop collection efforts until you are able to pay or are able to make payment arrangements. Below is a link for a sample letter. I've used this one before, but added a sentence in there stating it is due to financial troubles and I will contact them when I am able to make further arrangements.
http://credit.about.com/od/debtcollection/a/ceaseanddesist.htm
Now, it will go on your credit report until you pay it off, but it's better than a bankruptcy. That's usually saved for extreme debts and financial burdens. When you do start working again, you should contact them (or check your credit report if you forgot the name and/or number) and make arrangements to pay it off. Trust me, collection companies are always willing to either settle for smaller cash payments or are willing to make payment plans and arrangements for you.
Good luck and God Bless! |
|
krennao
 |
Bankruptcy are not free can cost anywhere between $600- $1000 at that point you already have half that debt paid. Not even worth it. |
|
Mimi C
|
Most of the time if you call the collection agency they will let you set up some sort of pay plan that can work for the both of you. It is harder then ever to file bankrupsy you will need to owe more then 2000.00 to a collection agency inorder to file that. |
|
wisegirl74
 |
Not for $2K. What you can do is put all your finances in check. Create a budget and find out where you are spending your money. Then follow your budget closely and adjust the areas or spending, so you can save enough money to pay the collection agency in full, you could negotiate sometimes depending on the time lapsed to settle for less than 2K.
Remeber, fiancial freedom is 80% percent behavior and 20% math. Stop spending and start saving. |
|
sophieb
 |
You should never file for bankruptcy unless you have a huge stack of medical bills or you owe over $65,000. Bankruptcy ruins you in many ways over a long period of time. You don't need that.
If you owe, then pay it down monthly or get a second short term job. |
|
straight chillin'
|
if you don't work and are a fulltime student, how do you owe a collection agency $2K and how do you live from day to day?
you need to get a part-time job and make payment arrangements with them. filing bankruptcy over $2K is ridiculous and i'm sure impossible. you have to be in way over your head for that. |
|
jd
 |
It is doubtful you could file for bankruptcy based on a $2000 debt. You need to explore other ways of handling this obligation. If the collection agency itself will not deal with you; find a reputable credit counselor through your local BBB to assist you with a plan to retire this debt.
Most collection agencies would rather collect a debt, but depending on the one you are dealing with they may either not consider reasonable monthly reductions, a reasonable interest rate for the balance, or any option at all. Beware of high interest rate loans that carry fees and leave provisions for the interest rate to go even higher if you make any late payments.
If you have a job, you should be able to find a credit counselor or a credit union to assist you. A co-signer may be necessary, depending on your situation, so you might approach your parents or another responsible party to help you in this way. Depending on your stability, attitude and true desire to clear this obligation, you might find a co-signer. Personally, I would not do so without complete confidence in the person I was co-signing for. So, if you incurred this debt through simply ignoring the payments, that option probably won't be available to you. |
|
Jennifer
|
Hi,
I used "Credit Solution" to settle my debt and improve my credit score.They managed to reduce my debt up to 58%.It's legitimate.I came across this company on NBC News Special Edition.Check it out here:
http://doiop.com/777268 |
|
amy f
|
filing bankruptcy is expensive you must hire an attorney to do it which cost 1500-2000 or more the attorney wont do anything till he is paid. so I dont think that is an option usally you have a couple of options ignore them, set up a payment arrangment maybe 30 a month, or pay them. they cant do anything if you just ignore them just bug you with calls and letters. |
|
Payment
|
bankruptcy should be a last resort it will cripple you well after that some countries up to 4 years after. There are alternatives, loan sharks take more out like $6K and pay the $2K off and invest $4K to pay off the $6K there are easy alternatives for making money without being overly qualified just knowing the means is the question. |
|
Trouble
|
Not only will they NOT let you file B'kcy for such a 'small' amount but, 'bushyt boy' Passed a NEW B'kcy law 2 years ago making it HARDER to File B'kcy......ALL for the Glory of his BIG Business Buddies!!
Just 'screw' the American Public, as bush keeps doing!
What can they do...You can't get 'blood from a stone'....if you have no job!
They'll keep bugging you and make you feel like you're the ONLY person who owes money. GET A Grip Collection A'gcy.....Most of America is in the same 'Boat'! |
|
samira
|
Get yourself a job, and make arrangements to pay off the debt. Collection agencies will usually work with you if you ask. My niece goes to college full time and has a full time job. I know many people that do that, you can do it too if you set your mind to it. Don't underestimate yourself....you can do it! |
|
| |
|
| | |
| Questions List |
Answers | Last Post
| | | |
12 | 15 minutes(s) ago
| | | |
12 | 39 minutes(s) ago
| | | |
11 | 44 minutes(s) ago
| | | |
4 | 55 minutes(s) ago
| | | |
12 | 2 hour(s) ago
| | | |
12 | 7 hour(s) ago
| | | |
12 | 8 hour(s) ago
| | | |
10 | 1 day(s) ago
| | | |
12 | 2 day(s) ago
| | | |
12 | 5 day(s) ago
| |
|
Homepage 
Financial
Forum 
Personal Finance 
No Spam
Adult 
Gambling
Unfinished
Deception
Plagiarism
Not English
