paying off credit cards that have went to collections?
How do I pay off credit cards that have went to collections? If I can't afford the total amount, should I send what I can afford? Can they take money out of my bank?
Asked By: BLUEEYES - 3/30/2012
Best Answer - Chosen by Asker
No, do not send them any money right away. It will not help your credit, which is already ruined if you are in collections. It is a waste of your money... More
Answered By: Ron S - 3/30/2012
Additional Answers (5)
If you have purchased somethings , & the debt amount + interest are accumulating[ this you should not allow at all !], best is seek the help of your dad or someone who will help, finish off all the debts... More
Answered By: Raman P - 3/30/2012
Do you have any cash to negotiate settlements... More
Answered By: Go with the flow - 3/30/2012
They cannot take money from your bank. Either come up with enough cash to pay in full or don't call them, talk to them or even think about paying them.
Answered By: Rob Peters - 3/30/2012
If you already gave them your checking account info, close the account immediately because they can debit the account anytime they want. They will not settle for less unless you agree to pay the agreed portion. If it's past the Sol, you do not have to pay them a cent.
Answered By: stan c - 3/30/2012
* Never, ever contact debt collector if you can only afford payment plans. There is no such thing as a good faith payment law, to where creditors/collection agencies are obligated to accept whatever you can afford to send in per month... More
Answered By: CatDad - 3/30/2012
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