Hi guys, I just stumbled onto this site, and must say that this is perhaps one of the greatest resources available online. Anyways, my issue at this point is that I've gone 89 days past due on my AMEX card, with a balance of $12K. I've been getting calls from a collection agency (COLLECTCORP? any news?). Anyways, they keep asking me to pay immediately, or they will sue me. Another issue brought up is that they have my income at $50K, with $25K in misc. income. The guy keeps threatening me, claiming that unless they get copies of my income tax returns, that they would press fraud charges since I am only 23. I have had the card for a year prior, and went late only once that time. I spent over $40K with them in that time period. I can verify with my income, but it would be hard to prove the 25K misc income. (From unverifiable sources) I want to pay the debt off, but being unemployed, I can't really do anything at this point. What sould I be doing now? Incidentally, they have just been calling, and have not sent any written notices to me yet. Are they required to send be written notice? PLEASE HELP, sinking FAST!!! Should I be really scared now, or is it the typical BS tactics? I'm also interested about the timetable in which they file judgements, etc...
You should be concerned, but maybe not all that frightened. Not out of your wits, at least (smile) Why on earth are you accepting their phone calls? DON'T DO THAT, DON'T WEAR THAT DIRTY T-SHIRT. Tell them you don't discuss such matters over the phone and if they have something to discuss with you they need to send it to you in the mail and simply hang up the phone on them. Keep on hanging it up on them after telling them they have to do it by mail. Never talk to them on the phone. And especially not if you don't have a tape recorder hooked up to your phone line. So let them sue you if that's what they want to do. Don't attempt to prove anything. Don't let them bully you. Don't even talk to them on the phone. Make them put it all in writing. If you had that kind of income when you applied for the card, then you don't have all that much to worry about. They can't press fraud charges on you anyway. Maybe Amex can, but the collection agency can't and their threats to do so are illegal and very likely in violation of federal law. That's why you want it all in writing. Hanging up the damned phone! (LOL) Have you demanded they send you one? NO??? Why not?? Do it as soon as they call you the next time. Do that as soon as they call and then hang up the phone. Not if you just let them keep on jawboning you to death. You should be definintely concerned, but not scared out of your ever-lovin mind. They always file judgements on a very strict timetable. And that's always just after you piss them off enough to get them to file a lawsuit. I wouldn't worry about it. They probably don't know how to sue you anyway. Think I'm kidding? I'm not.
