Kristi, Just looked at updated copy of one of my CR's. A creditor whom I owe a large sum but can't afford to pay inquired into my credit. Actually it was the collection agency collecting for the creditor. I get nervous when I see this because this account is less than 4 years old which is within the SOL to collect in my state. I am very scared that a judgement could happen. Should I be? The amount is nearly $10,000! If I had it to pay I would, believe me I would. I don't like living like this!I am seriously thinking about contacting them. What should I say? I want to tell them how much I can afford each month. I know they will try to get me to commit to a high monthly amount. Should I write them first, stating what I will pay each month? How do I prevent them from later stating that I said a certain amount but didn't pay that amount? I wish I could borrow 1/2 the money and negotiate a 50% settlement. But logically, it's this account that has my credit seriously damaged. If I start payments, will the SOL to collect start over?
RE: Kristi...WIll You Please A As tempting as it may be, I would not contact them. Most lawsuits don't just occur out of the blue. Usually it occurs after failed payment arrangements. Wait it out. Sometimes they inquire your credit reports and see other bad debts and think it is a loss and little happens. In this case, I say patientce. By replying, you may actually speed up the process of collections. Killer wrote: ------------------------------- Kristi, Just looked at updated copy of one of my CR's. A creditor whom I owe a large sum but can't afford to pay inquired into my credit. Actually it was the collection agency collecting for the creditor. I get nervous when I see this because this account is less than 4 years old which is within the SOL to collect in my state. I am very scared that a judgement could happen. Should I be? The amount is nearly $10,000! If I had it to pay I would, believe me I would. I don't like living like this!I am seriously thinking about contacting them. What should I say? I want to tell them how much I can afford each month. I know they will try to get me to commit to a high monthly amount. Should I write them first, stating what I will pay each month? How do I prevent them from later stating that I said a certain amount but didn't pay that amount? I wish I could borrow 1/2 the money and negotiate a 50% settlement. But logically, it's this account that has my credit seriously damag....
RE: Kristi...WIll You Please A Thanks!! I am certainly going to follow your advice! Thanks again! (I just love this board!)
