Can a collections agency sue me if I am making payments towards my debt?
I am in similar situation, except I owe a few people, and can only make payments on one bill at a time. I have heard they can take you to court for the whole bill, even if you are making payments. But considering if you are making your payments and it’s only $11,000 (believe me that is a lot to me and you) but I am sure there are other people out there that owe more than that and are not making no such effort plus the court costs if they did take it to court! So I wouldn’t worry too much with it, just keep making the payments on time as agreed with the company and I think you will be just fine. Good Luck with all that!
I know that you are trying to do the honorable thing, but these collectors are scum and they really like to scare young ladies, they will do every thing in their power to scare you. The fact is if you gave them the 3,000. tomorrow, next week they would call you back with the same BS and scare you some more, then attempt to get another 3,000. out of you. I think that you are learning a valueable lesson here, CUT UP ALL OF YOUR CREDIT CARDS, you will never get out of dept. They just keep compiling interest on a daily rate. What I would do, send them 10.00 a month, yes, I said 10.00 a month, then file bankruptcy. Your credit is already screwed, at least with bankruptcy, in seven years, you will be able to have credit again, they way it is going now, you will be paying this debt for the next 20 to 25 years and your credit will be screwed up for life. It is better to file now, than to go through all that. Stop answering there phone calls, monitor your calls, send them 10.00 a month, and fin
If I were you I would look into the laws about that subject in your state. I know that collectors make a lot of idol threats. I have even heard of them purposely putting people who call in on hold for long periods of time so they will get irritated, stop calling and just pay their debt. I do get along with one of my bill collectors though. I would go to a credit counselor and ask them for advice on what to do. They may tell you to just make payments, or they may tell you to file chapter 13.
As Long as you are at least paying them even if it is only 50.00a month they can put your name in the credit bureau but most of the time you can work it out with them since your probably only paying on interest and at most they will cancel your account with them. Just call tell them your circumstance. Most are willing to work something out with you.
