I will keep this as short as possible...don't wanna bore anyone to tears. So I screwed up my credit! I had an account with Citi (5800 limit) and Capital One (1700 limit). I missed a couple payments after having a short bad-spell with my finances. I think I missed about 6 payments. Both of them are turned over to "collections". Both of the collection companies say that they are "higher than a regular collection agency". Citibank is using CSI and Capital One is using OSI. Grrrrr. Both are saying that if I don't pay the FULL amount of the debt within in the next two months then they will take me to court, sue me, garnish me, etc. With interest and so on I owe Citi 7300 and I owe Capital One 2300. Can they really take me to court over these amounts? Are they just trying to get me to fall for proverbial "banana in the tailpipe"? Im really scared. I tried to use Consumer Credit Counsellors in Orange County, Ca. I can pay $300 per month towards fixing this. I called them about a week and a half ago. They say that there should be no problem taking care of this, and that the 300.00 would be fine. But both OSI and CSI say HELL NO to this option. Help!?!!?!?!?!?!?!!? Don't know what to do, -D
How old are these debts? Odd that they wouldn't take those payments. For now, stop making arrangements and start asking for proof. If the amounts look arbitrary to you, then you have the right to see the accounting of those amounts, as well as the CA's authorization to collect. OSI is notorious for interest collecting...if they can, they will; and even if they can't, they will. That's why I would want to see proof of their authorization.
I don't doubt that the amounts they are collecting are correct. Im afraid of them not accepting "reasonable" payments. I can't afford to pay 4500.00 this month and 4500 next month. And I don't want to have my bank account or paycheck garnished.
I have had both cards for five years. I have missed about 6 payments on both of them. I have not disputed.
They do NOT have to accept any size payment if they don't want to. Be careful too.... they can garnish (clean out) your bank accounts and put a stop to your safe deposit box access...with NO warning!! Of course they do this without notice so you don' t clear them out yourself.
They have to have a court order first though right? So it wouldn't happen until AFTER we go to court?
Yes it has to go to court first...however our account was wiped out a week ago... based on the civil court where it was filed (4 hours away from us, but where the attorney's office is) giving judgement...with NO notice to us. The last contact we'd had was back in January when we sent our answer to the complaint against us.
