Heres the deal. Defaulted on GM card. Bal 4500. Got threating call from CA last year. Agreed to make payments for 6 months. Payed 800 first month then 200 a month after that. After the 6 months was up they stopped drafting and no phone calls, nothing in the mail. Today I get a call from CA ( not sure if same one) saying the CC is ready to take us to court. She might be able to get them to accept 50% which is 2700. I have till the 30th. Any ideas?? Can they do this with them not even giving me a chance to pay? I am willing to pay it but ca't come up with that big of amount now. TIA!!
Might be able to get them to take? Always get terms in writing from people who can legally agree to those terms before sending any money at all. You've got to know for sure that this is over if you pay. You don't want them coming back later and demanding more money. I would read some of the other stories where the original amount is $X and now it's $2X or even $3X. If they are willing to take 50% of the orignal $X, that's pretty reasonable, isn't it? Once they have said that they will take you to court unless there is a settlement, it is an FDCPA violation in most cases to just not do it. So Dumb Bob figures it might be good to take this one seriously. Of course, sometimes CAs threaten to scare people into paying. This is a violation of the law but they figure, what is a consumer going to do about it? There's really no way you can get the amount they are asking? Although this is how you got in trouble to start out with, a loan, even a credit card loan, if not ridiculous priced, could put you in a place where, if you pay, you could turn things around, maybe. All of this is, of course, your call. Be careful.
