I owe 0 for something it went to collections, they are offering me 2 Opportunities to settle it they will
A. Settle for 144 or
B.The option to resolve the debt and recieve a new gold mastercard which allows me to pay the balance in 35 monthly payments,
Now im willing to do both but will getting the credit card benefit me in a bigger way??
Thank you!
the card says o% APR for the life of the balance no annual fee
I have a charged off account with a credit union. On my credit report it shows the credit union and the funds owed.
When I contacted the credit union they advised me that the debt is being handled by a 3rd party, CRB Collections.
CRB is not on my credit report at all. I am looking to settle this debt ASAP. Should I deal with the 3rd party collection agency even though they are not showing on my report.
Any help and advice would be terrific!
Here’s the skinny…
I had a Sprint PCS debt put into collections on 03/2005. The last date it was verified was 05/2006. It is showing that it will be removed on 04/2009. The debt was sold off to another agency in 06/2006 and is currently being reported.
I have offered a settlement agreement for "pay for delete" to the new collector, and am awaiting response back. However, is there any way to request a deletion from the OLD collector who no longer reports, since the new collector is handling the debt? It just looks bad that the same debt, for the same amount…is showing up twice, from both collectors. Just curious…thanks!
Last July,I broke my lease one month before it was up and owed 0.It’s now in collections and has increased to 00.Do you think they’ll let me just pay the original amount? What should I say to them to negotiate it back down to 0?
I have an old Citi card, Capital One card, Best Buy, Chase, and then a few smaller ones- Wal Mart, Express, and Lane Bryant. I haven’t made a payment on most of them in at least 2 years. I stopped paying them cold turkey because they jacked the interest way up and wouldn’t negotiate with me, and I couldn’t afford to pay them along with tuition, rent, etc. since I didn’t receive help from my family. I’m not even sure what I owe, but with all the fees I’d estimate I owe a total of ,000-,000 spread out on them all. Without the fees it would have been half of that. In addition, I have ,000 in student loans. I’m not making much money right now at all. For now I’ve just been focusing on paying my student loans in the hopes of rebuilding my credit. I don’t see how I could afford paying off my credit cards. What should I do about them? I’m not getting many calls anymore, but lately someone is calling threatening to sue me for 00 credit card. They have threatened to sue me before (Citi Bank) and even sent me a summons of court letter, but never followed through. What is my best option? For now I plan to keep ignoring them but I am sick of this problem. Help!
Thanks roscoedeadbeat. All my credit cards are already in collections, and they have been for about 2 1/2 years. I also had a 2nd Citi and 2nd Chase card but paid them off as a settlement years ago with some student loan money… Now, the problem is, I don’t feel like I really can afford to pay them. I’m already having a hard time paying my student loans- right now I have to pay 0/month and soon I will start paying my private loans which will be around 0/month for a total of 0. I feel so overwhelmed! 
Maybe I’ll talk to them and ask what is the lowest they can settle for, and then see if my family can help me at all, but I hate to ask them for help. Thanks for your answer though.
Thank you for the answers Sgt Big Red and carl.bennet. I looked up the statute of limits in my state (MN) and it is 6 years… so I am about halfway through. I might end up making more money in the future, but I don’t see it happening for a while. I plan to go back to school within the next year (either part-time or full-time if I get a graduate assistantship), and that will take me at least 2 more years. So maybe I will continue to wait it out. I don’t want to deferr my student loans right now because I want to save deferrment for a later time in case I’m in a worse situation then- such as if I have a baby or get sick. And I can only defer my federal student loans, I can’t defer the state loans. It’s so hard- I wish I had been smarter about debt, but I guess you live and learn. I appreciate your answers.
Oh one more thing- this is a bit desparate, but if I moved out of state to where they have a lower statute of limits, would the new statute of limits apply to me? Or would it be the same statute of limits since it originated in MN? Thanks!
Ihad a judegment on my report for the amount of 1766.00 when I called they told me the total amount was 4700.00 because of Intrest, but they would settle it and send me a paid in full letter. was this a bad idea, should have I arranged to pay it all. I also paid off some old collections ( 5-6 years old) a couple settled for less and a couple I paid full amount ( fees, orginal charges and intrest) how long will it take to clear up my credit and for my score to improve.
I have plenty of new good credit, I have had a new car payment for almost 2 years and never been late, I have a few credit cards that I pay off each month and so on….
So I have good credit I just had a few older collections that I have paid off, but I have not had any BAD debt new to my credit report in 5 years
I sould have letters from each of the creditors with in a couple weeks and at that point I will send them to all three buerues…
I have a credit card debt that i called the collection agency on to settle but they have already given it to an attorney, should I call this attorney? Will they possibly settle lower? The debt was 7 and is now xx due to interest adding on it since it went into collections about 5 years ago.
I was 3 months past due on my credit card. I sent a payment to bring it current. But two days later, I got a letter saying that it went to collections. The credit card company shows that my account is current. But now I need to deal with the collection agency to pay off the debt. Am I able to settle this debt with the collection agency eventhough it is showing that I am current? What are my options?
I have a Citi card with 3K debt. 2 years. For 1 year, payments were on time and above minimum. The account is now closed.
I have a Key card with 5K debt. 6 years. For 5 years, payments were on time and far above minimum. The account is open and on a payment plan.
I was out of work for over a year which is when almost all of this debt was accumulated. I eventually had to move across the country to move back with my parents. I now have a new job in a with an expensive (0/week) and long (4 hours/day) commute plus low pay. The job is in NYC and I can’t find a decent place. I’d like to settle with Citi.
Nothing is in collections though the Citi could be soon. I’m now looking for jobs abroad and want to sort out everything before leaving. If they were to attempt to garnish my wages, they would get a lower amount than I am willing to pay. 50% of my income (2K/month net) is going towards paying my debts (I have student loans as well). 30% of it is going towards getting to work. I hope it never comes to this.
I want to settle this by the end of April 09. How do I go about this and what impact will it have on my credit (I will probably return to the US at some point) and what else does it entail?
I paid an amount to a collections agent for a loan that I took out when I was in undergrad and paid a lesser amount that I thought settled the debt. Today when I went to the bank (5 years later) they said I still had an outstanding balance (which is the balance from the original amount). I thought once I "settled" and paid the agreed to amount-that is the end of the story. Am I wrong?
I am ,000 in debt from credit cards , charge accounts , and a few bad checking accounts . They are all in collections with an outside agency . I’ve been applying for credit cards and I keep getting denied . I currently have a new job and I don’t know if I should file bankruptcy or just pay these collections and STILL LET THEM SIT ON MY REPORT AND NOT BE APPROVED FOR NO CREDIT . I really am starting to think BK for a fresh start . And I’m not even 20 yet . HELP !
I already had a full secured credit card from a local credit union and thats closed with a high balance and i already had a partial secured credit card from bofa . Should I get like a capital one secured card or Citi secured credit meanwhile while im paying off these collections ? I would like to finance a car soon !
I had paid the debt in 2002 as a settlement and now last year they have been sending me letters.. and i finally called and asked what it was for and i told them it was settled not to call and they tell me they are reporting it to my credit report but its not there.
it was not in collections as far as i know. I did pay it as a settlement. or charge off.. it should be considered paid and not collectable…
There are a few collections that will be removed from my credit report in 2012, should I still attempt to contact those agencies to pay off the debt or just wait to they are removed and worry about the other collections that are in standing til longer
I am trying to repair my credit by sending debt settlement letters to the collections agencies listed on my credit report, but they are not being cooperative. Most are saying they CANNOT settle the debt nor are they willing to delete the listing from my credit report after the debt had been paid. I don’t trust any of these non profit credit counselors, but I need some guidance. I am begining to lose hope that this is even worth the trouble. Any advise?
I am trying to repair my credit by sending debt settlement letters to the collections agencies listed on my credit report, but they are not being cooperative. Most are saying they CANNOT settle the debt nor are they willing to delete the listing from my credit report after the debt had been paid. I don’t trust any of these non profit credit counselors, but I need some guidance. I am begining to lose hope that this is even worth the trouble. Any advise?
In a sense, the general US population is growing ever-more in debt with the weakening dollar, prices going up, unemployment, yada yada…..
Does this benefit people who are trying to clean up their credit, from a standpoint of negotiating with collectors for "settled" amounts, and to delete information from credit files, as a contingency to the settlement?
I know that collectors pay sometimes pennies on the dollar for collections, and I would imagine that right now a lot of people are not paying obligations to established collection accounts, so some collection agencies may in fact go belly-up….so does this give consumers who are trying to clean their credit the ability to pay a lower amount to settle debt?
I am 25, married, and own a small home. Due to very slow payment (I pay mortgage with student loan monies when they arrive), my house is going into foreclosure. I also have a lot of debt from medical expenses, and hubby has major debt (car, credit cards) from his teen years.
I have enough money to reinstate my mortgage without filing some type of bankruptcy. However, that would leave me with no lump sum of safety money. I do work, so I could feed myself – but I never seem to have enough income to pay for regular expenses AND my mortgage. So, if I don’t file bankruptcy and I catch up/reinstate my mortgage…I know I’m going to fall right back into the "non-payment" category again.
Is catching up my mortgage better than filing bankruptcy? What about the other debts that I have? How is credit affected?
(I’m going to grad school, so I have many years of being a poor college student left. I just need to know what I should do about my house and other bills in collections)
Husband is college student too. Together our income is still VERY tight on making all payments on time.
Yes we have cell phone – but no cable/internet/home phones. I don’t know what else to cut.
Last year I moved out of an apartment I had been living in with another person, leaving a forwarding address with the apartment owners. About eight months later I was contacted by my former roommate who said that the apartment complex was billing me for damages. I immediately
contacted the complex and found out that they had mistakingly been sending collection letters to my former roommates address and not my new address. I settled the debt with them, however I discovered a few weeks later that during the eight months they had sent my bill to collections. I’m now recieving constant collection calls on a debt I’ve already paid off! What can I do to resolve this?
If you bought a care and then returned it to the bank you took the loan from, they auction the care and take a bid for less then a tenth of its worth is it your job to pay back the remaining amount? If they send it to collections, but you have since moved states, phone numbers, etc and they cannot get a hold of you will the debt ever be dropped form your credit?
My husband owes a chase credit card and i just checked my credit report and they have it on mine as an authorized user. Is this legal?
I live in N.Y. Also I would like to settle with this company before it goes to collections do i send them a letter or call them.
Hi! So I set up auto payments with chase bank to settle a debt, and one of the payments got returned, so they sent it to collections, i settled with collections for 50% off the balance and they said thats it im released of all debt, but chase (not collections) ended up charging me 2 a week later. which i would have thought no more payments would have gone through since the debt is "settled". I called chase, and they said since i authorized the payment before, and I didn’t call to cancel it there is nothing they will do! but the thing that really bothers me, is that when i called chase earlier, they said "I can’t discuss the account you need to talk to the collection agency." What can i do? not only did they charge 2 but that costed me 230 additional in overdrafts fees! what can i do legally? is small claims court an option or am i SOL?
(I know it effects your credit score). I was in an accident over a year ago and had no medical insurance. I have been paying a monthly amount to all the accounts (which they agreed to let me pay) Now I’m getting statements saying they need more money or they are going to send me to collections! Should I file bankruptcy or just leave my medical bills in collection? All my other loans, credit cards etc. have all been paid on time.
I have fairly decent credit (695) and my medical debt is around ,000.
Hi! So I set up auto payments with chase bank to settle a debt, and one of the payments got returned, so they sent it to collections, i settled with collections for 50% off the balance and they said thats it im released of all debt, but chase (not collections) ended up charging me 2 a week later. which i would have thought no more payments would have gone through since the debt is "settled". I called chase, and they said since i authorized the payment before, and I didn’t call to cancel it there is nothing they will do! but the thing that really bothers me, is that when i called chase earlier, they said "I can’t discuss the account you need to talk to the collection agency." What can i do? not only did they charge 2 but that costed me 230 additional in overdrafts fees! what can i do legally? is small claims court an option or am i SOL?
I had a house that 100% financed, 90/10. When it foreclosed the fair market value exceeded the balance of principle outstanding to the first loan by 28k…pocketed by the lender. The second loan is in collections for about 80k…I don’t even make enough to pay basic bills, so am unable to pay this back or even make ‘reasonable payments’. 1) How is this handled tax wise? 2) Why didn’t the 28k excess go to the second lender? Or is there a way I could get the 28k from the 1st lender to pay directly to the 2nd to at least show good faith efforts? I’m overwhelmed and considering bankruptcy, but can’t afford the attorney fees yet so I’m seeking alternative situations.
I have a very low credit score because of all my debt in collections. I have to get my credit score up in ordewr to start investing. How can I get my situation in order with as little cash as possible?
I have a 05 nissan payments are 500 a month. I am currently behing 6 months and the car is in collections. I owe 20,000 and I recieve a letter stating that they’ll settle the account for 16500. The car is maybe worth 10000. I need to fix my situation and either some how get rid of car or turn in or who know what I can do to fix my situation.
My fiance has a disease that causes blood clots and we have to take him to the doctor twice per month sometimes more and his insurance just started covering preexisting conditions
has ok credit but he has like 60k in doctor bills.. which makes his what would be good credit look bad.. we want to go to the credit union we got our car from next year to buy some land but we are afraid his doctor bills may stop us from getting a loan.
we called all of the collection companies to try to consolidate the bills and they told us we will have to pay like 0 per month (total between all of them) and that is the least they can take.
We don’t want him to file bankruptcy but I don’t know what we should do? someone please help!
the bills have already been sent to collections.
I owe a LOT on my credit card bill (my minimum payment is 5/month) and my interest rate is 12%. Please understand that this has taken almost 2 decades to get to this point and it was unintentional. Anyways, I have good credit with a score of 771. I don’t want to ruin that by filing bankruptcy. I am wondering if there is an alternative where I can cancel the card, pay say /mo and not have interest accrue. I will pay til I die if I have to but I cannot afford this anymore. I know you can do something similar with medical bills, so I thought maybe there is something out there for credit card bills. If it helps, I am disabled and receive SSDI, so maybe there is a government program, I don’t know. Thank you for any/all suggestions.
Just some additional thoughts, what would trash my credit worse? Filing bankruptcy or debt settlement of some type as one person mentioned? Also wondering, if I just ceased paying or only paid the very minimum I could, and lets say they end up putting me in collections, etc., and let’s say they sue me for it, could they put a garnish on my monthly SSDI check? I don’t have any assets they could take (savings, house, etc).
When a creditor charges off a debt, and they tell you that they have no more dealings with it. Told me that they could not pull it out of collections and settle with me.
Can this debt go back to the creditor and they will sue?
It is a credit card debt, for 00
Im in SLC,UTAH. I have about 3k fines from court going to collections. Can i file chapter 7 on it?
even when its in collections?