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If you're truly in financial trouble then let it go to collections and offer them a deal like $.50 on the $1.00 and/or make small payments so that they cannot go after your assets for non-payment.
This is what I would like to do An will look into it
They more then likely will seek judgments to go after any assets you have, garnish your wages, call your friends and neighbors and make your life miserable.
Someone else mentioned they will ruin your credit and you will be paying higher rates on anything you need.
Most rentals companies do pull your credit as well. Some do not, but they are few and far between.
Collectors are like mad dogs when it comes to coming after you.
Look up Allied, Midland etc to see they do not care about the laws that protect you until you are armed with knowledge to fight them back to get them off your back.
A lot of it depends on how much it owed and what creditor it is. Some will write it off but then some send it to a collector and if they cannot collect it they will then sell it to one of the junk debt buyers who wont stop at anything to collect the money.
This is what I would like to do An will look into it
Texan is correct, negotiate a settlement and ask if you pay it as agrees if they will remove the negative or change it to paid as agreed with a zero balance.
Texan is also correct in that you really have to look at the laws in the state you are residing because all states have different laws on collections.
Read up on the FDCRA to you will have an idea of protections you have against collectors who will call your boss, friends etc.
They more then likely will seek judgments to go after any assets you have, garnish your wages, call your friends and neighbors and make your life miserable.
Someone else mentioned they will ruin your credit and you will be paying higher rates on anything you need.
Most rentals companies do pull your credit as well. Some do not, but they are few and far between.
Collectors are like mad dogs when it comes to coming after you.
Look up Allied, Midland etc to see they do not care about the laws that protect you until you are armed with knowledge to fight them back to get them off your back.
A lot of it depends on how much it owed and what creditor it is. Some will write it off but then some send it to a collector and if they cannot collect it they will then sell it to one of the junk debt buyers who wont stop at anything to collect the money.
what do you mean wont stop They can call who ever they want any time also they can mail as much to me our who ever they want.
Like I said there are no more high paying jobs in my field I am ok with that i do not need any more credit It is not worth it.
When you mean wont stop are they going to the house then what are they going to do
This is credit card non secrued debt. They are not going to take it from me the worost they can do is put a lean on it. Then I will not have to pay till I want to. But I am not going to go there
Texan is correct, negotiate a settlement and ask if you pay it as agrees if they will remove the negative or change it to paid as agreed with a zero balance.
Texan is also correct in that you really have to look at the laws in the state you are residing because all states have different laws on collections.
Read up on the FDCRA to you will have an idea of protections you have against collectors who will call your boss, friends etc.
Thanks I am going to look into all this An I am going to pay off everything
I just wanted to know what would happen if I said screw it an quit paying every body. like one of my coworkers I mean X
to be honest It looks like there is not much they can do if you have nothing an if you are like the million an million that all ready have low scroes why even try to repair it ...It wont help anyways.
what do you mean wont stop They can call who ever they want any time also they can mail as much to me our who ever they want.
No they cannot continue to harass you by phone. All you need to do is send them a cease and desist letter telling them not to call you and to make a communications by mail only. They can be fined 1000 for any phone call they make to you after they receive a registered letter from you.
Like I said there are no more high paying jobs in my field I am ok with that i do not need any more credit It is not worth it.
I understand but you have to think about car insurance, they will rate jack you quickly.
When you mean wont stop are they going to the house then what are they going to do
This is credit card non secrued debt.
They can get it from you. If they sue you and win they can garnish your wages.
They are not going to take it from me the worost they can do is put a lean on it.
They can put a lien on anything of value but the credit card people wont do that, they will go for your wages.
Then I will not have to pay till I want to. But I am not going to go there
Remember something. If they send you a letter in the mail, it is called a dunning letter. You must answer the letter within 30 days of receiving it or it is considered that you do owe the debt and they will pursue you after those 30 days. DM if you want a form type letter you can change around to answer them and tell them to stop calling you. Or you can just change you phone number also.
I'll tell you all, Florida has asset protection laws you can't believe. In a fair world they should get his house, but in Florida it ain't gonna happen.
i am afraid so
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