I just need to vent

[organicmommy]

Ok so we have had some major financial issues in the past couple years which are very hard to get out from under but we are trying hard. We have a lot of stuff in collections and since we moved, they are moving the items to new collections offices in the same state as us. So in the past 2 days i have gotten 2 calls from these people, different agencies wanting money. So yesterday I set up a payment plan that will last 3 months and that one will be paid off, hurrah but still it is a crappy time of the year for this. Then I get another call today that had it not been for the other call I could have fully paid today, but since I couldn't, it is set up with payments for 2 months then, I am supposed to pay it in full on the 3rd month.
I am sorta scared now cuz I know that there are others that need paid up, but in 2 months our car is paid off, and so is dh's school loan, that is nearly 500 a month that we could put toward this stuff, but right now we are going to be in huge trouble with stuff if they keep calling in the next couple months.

Do I have any chance of getting themto hold off til then or am I gonna have to try to get them to take small chunks so that I can pay it but still be ok?

Help me, I have to get this taken care, of, and it is probably good that this is happening cuz then we will have all of our debt paid off adn we can start to rebuild but still.

[Mountain Chick]

A bill collector's goal is to get as much money as possible from you as soon as possible. They have statistics about the longer it takes to get money, the lower % of money they will probably collect and stuff like that. So they are going to try to pressure, bully, and convince you to pay as much as possible as quickly as possible.
IMO, what you need to do is sit down with your finances and decide what you could give them for the next few months, until you have that extra $500 a month. If it's $10, then it's $10, and if it's nothing, then it's nothing. Then the next call you get, lay out your option to them. Be vague, though. Don't tell them about the car & student loan, just say that you expect to be able to pay (fill in amount) by January, but in the interim are willing to show good faith by paying (fill in amount). Be prepared to stand firm in the face of anything from threats to begging. Chances are they will take your offer after a bit of disagreement, because anything that comes in no matter how small, shows their boss that they are making progress.
It's understandable why people feel intimidated by collector's, and feel like they have to take what ever the collector is offering, but in reality, it's your money, and your life, and you should work out a plan to pay creditors back that works for you. Just make it plain and clear, that you are willing to work with them and pay them back, but it will have to be done in a way that fits your current situation. If a collector calls with a deal, and it's good, but doesn't quite fit, don't be afraid to counter back with what works for you. And one last thing, if you do present an offer to a creditor and they accept, have them put it in writing, and send it to you before you ever send any money. You would say something like, "now that we have come to an agreement, please send me a letter outlining the terms, and remittance stub, so I can get that first payment out to you as soon as possible". That let's them know that you will not be sending any money until you have a written agreement, and that the next step is in their hands. Because no matter what a creditor says he agrees to, if you don't have it in writing, you don't have squat. And keep your own journal of who you talked to, what terms were discussed, and any other pertinent info, it's your record to show that you are and have been willing to deal with them in good faith, should ever the need arise to prove such a thing.

Hope this helps. And congratulations on taking back control of your financial future.

[umami_mommy]

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