Debt collection - Mothering Forums
Forum Jump: 
 
Thread Tools
#1 of 5 Old 01-22-2011, 01:05 PM - Thread Starter
 
akitamommy's Avatar
 
Join Date: Sep 2009
Posts: 5
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

We have a credit card that I haven't paid on in a while. My husband lost his job and we just could no longer afford any payment. As soon as we find a steady job, we plan on settling this in full.

 

Just wondering though, will they sue me? I own a mobile home and one of our vehicles is paid off. The credit card is a little over $3000 balance.

 

Please don't flame me, I know my credit is ruined. We just honestly cannot afford it right now.

akitamommy is offline  
#2 of 5 Old 01-22-2011, 05:33 PM
 
by-the-lake's Avatar
 
Join Date: Jul 2008
Location: Northern Wisconsin
Posts: 1,135
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

On the bottom of the credit card statement should be a number for 'credit counseling'. It is a separate company that can help you renegotiate with the credit card company for a lower interest rate and lower payments. yeah,it shows up on your credit, but so does non-payment. They can sue you, but they may not because the balance is pretty low.


Wife to DHluxlove.gif DS 98thumb.gif DD 03flower.gif DS 09 babyf.gifwinner.jpgcd.gifnovaxnocirc.gif

She is here!!! Oct 5th!!!joy.gif

 

by-the-lake is offline  
#3 of 5 Old 01-25-2011, 04:38 PM
 
fierrbugg's Avatar
 
Join Date: Jul 2006
Location: keeping a comfortable distance . .
Posts: 1,023
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

Agreed, they can sue - but they'll probably just turn you over to collections depending on how long it has been since you've made a payment.  3k isn't that much in the grand scheme of things as far as the credit card company is concerned.  I would imagine they will just blow your phone up with auto calls all day.  If they turn you over to collections, you can always try to settle for a smaller more manageable amount - the worst they can say is no, and then you just pay the full amount whenever you're able to do so.  Have you tried discussing the issue with them?  Sometimes they are helpful, often they are not. Get any agreement in writing and don't give them access/permission to pull money from your accounts.  Dave Ramsey actually has alot of info about how to deal w/ credit card companies if you want to read up on it. 

 

A good credit rating is hardly important when you are struggling to pay for the basic necessities of life.  Best of luck to you and your dh - hope he's able to find the right position soon. 


~T | head-strong ap mama to 2 fur-kids | TTC since 2001 | remembering angel2.gif 8/00, angel1.gif 5/04, angel1.gif 1/07 & fur-kids, Apollo (04/03-12/09) & Bella (04/06-06/12)
fierrbugg is offline  
#4 of 5 Old 01-25-2011, 07:45 PM
 
sonrisaa29's Avatar
 
Join Date: Feb 2007
Location: PA
Posts: 972
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)
It will get turned over to collections and then if you ignore that you will end up with a charge off.
sonrisaa29 is offline  
#5 of 5 Old 01-27-2011, 12:14 PM
 
surrogate's Avatar
 
Join Date: Oct 2009
Posts: 376
Mentioned: 0 Post(s)
Tagged: 0 Thread(s)
Quoted: 0 Post(s)

visit the credit forum at creditboards (google it) they will be great in helping you figure this out.  #1 though, never pay a collection agency, only pay the original creditor.


Single mom to 2 boys
surrogate is offline  
Reply

Quick Reply
Message:
Drag and Drop File Upload
Drag files here to attach!
Upload Progress: 0
Options

Register Now

In order to be able to post messages on the Mothering Forums forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
If you do not want to register, fill this field only and the name will be used as user name for your post.
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:

Log-in

Human Verification

In order to verify that you are a human and not a spam bot, please enter the answer into the following box below based on the instructions contained in the graphic.



User Tag List

Thread Tools
Show Printable Version Show Printable Version
Email this Page Email this Page


Forum Jump: 

Posting Rules  
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off