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 I me would. I don't like living like this!
That sounds pretty bad Killer. They are probably just checking to see if you are paying your otber creditors. I dont know what to tell you. But if you dont have the money to pay, you just dont have it. If at all possible you might want to go on a low payment plan to prevent a judgement. $10K is pretty steep. And they will get upset that you are paying everyone else and not them. It is just the nature of the game. Good Luck. Maybe others have some more advise. roni
Yea I know Roni. 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.
Killer maybe address this with She has several letters that detail offers for payments . She may be able to help or guide you through with a letter for this. I would ask her. Mom
Killer, in my experience the only pople to get judgements are Landlords and Rental Companies. Getting a judgement and being able to collect on a judgement are 2 different things. Also I don't think Collection Companies make money if they get judgements. If the original creditor thought you would pay by getting a judgement then they would have gotten one. Just my opinion. The nature of the debt would help decide if they were going to get a judgement. They will probably just start sending you collection letters and calling your house.
Ride it out I think your getting a little too excited. They may send you an offer. How old is the debt?
RE: Killer I am too ashamed to admit! But I will say that it was a totally unavoidable situation and the creditor wasn't willing to work with me. I strongly believe the creditor wanted me to default.
RE: Killer It's o.k.......go ahead and tell! We won't think less of you! We're your credit family! :-D
RE: Killer Killer, Be careful....finance companies can get judgements against you, also. It happened to me (the amount was for a balance owed after a repo). I moved out of state (at around the same time that the judgement was occurring-without my knowledge!), and three years later, the judgement was migrated to the state where I live now. My recommendations are 1) ask Kristi, as others have advised, and/or 2) consider speaking with an attorney who can negotiate for you. Attorneys aren't always the best solution, though; the first one I talked to advised that I file Chapter 13, which really is not necessary in my case (this being the only major debt that I was past due on). So, I called and negotiated directly with the attorney representing the creditor. Oddly enough, I suggested a higher monthly payment than they were expecting! Best of luck, Cindy
