Collection Agcy- Fin'l Asset Mgmt

I need help. This CA called me on my cell phone and started hounding me about my defaulted loan. They wanted me to pay $3500.00 a month on the student loan. I explained that I stopped paying for theloan because I am unemployed and recieve unemployment insurance as my only income. I then verbally agreed to pay Financial Asset Mgt.(CA) to pay $100.00 a month on a defaulted student loan that has a principal of approximately $16,000, plus $11,000.00 in interest and $7,000.00 in "fees and costs." I was to make the first payment in November. Though the payment is not yet due, they called me up and insist that I fill out a "payment for extension" over the phone. I said I would not do it without seeing it first.

I believe that this so-called doc they want is to get more financial info from. The CA already told me that they believe that tho' I've been unemployed for six months that I "must" be making more money b/c they pulled a CR and I've been paying my bills. I told them that I get unemployment and that my father is helping me.

My questions are: Once I send a letter to them saying to only contact me by mail, are they also prohibited from calling me on my cell? I hope so.

Also, will telling them to only contact me by mail force them to take other legal action? I don't want a judgment b/c I do not have the money to pay anything more than what I offered them.



I ended u

 

I'm bumping this up because I am really in a bind and need some help.

Thanks!

 

Thanks for the bump!

 

Thanks! I will send them a validation letter and I will send them a letter confirming our verbal agreement that they will accept $100.00 until I become employed.

Thanks Again