Collection's Agency?Help ASAP!!!

[Its Gravy]

Damn...i had a discover card and defaulted on the payments...too much school and etc....only was working part time...now I have to pay my own tuition with cash, etc..well anyways
I get a call from LLC collections and they said if I didnt pay by friday they would pursue legal action vs me.
Is this a false threat....I go to school full time and i am 24yrs old..i live at home right now...they said i need to pay 1379.56 by Friday (I have the $$$ but it if for the fall semester tuition)
what should I do, these guys are very pushy and arrogant....

 

[Stuman]

Tell him he needs to contact your lawyer, beantownjim!!

 

[Blitz]

Don't give them your tuition money...

talk to a consumer credit counselor, I think it's free...

 

[Bet BHB.com]

They are going to tell you whatever you're going to listen to, to get you to send them money, but sending these collection companies money will not help you. If you sent them money it would only go to the back payments, late fees, increased interest rates, etc. None of that money would go to the balance they stated. They even might try to offer you something like; If you pay us half in a lump sum, we'll wipe the whole thing away. Do not do this with a coll. agency. That is a debt settlement and this can really hurt your credit for up to ten years.
It may take years before they bring it to court.
I used to work for a credit counseling corperation and it was really was the best thing anyone in your situation could do.
If you've tried payment plans with the credit card companies and the coll. agencies and they didn't work, get on a simple plan with a credit couseling company.
If you want more specifics, email me at customer_service@beverlyhillsbookie.com
I'd be glad to help in your situation, I helped thousands when I worked there. It really works.
Justin
-BHB

 

[THE KOD]

Re: Collection's Agency?Help ASAP!!!

Gravy

The reason they are so pushy for the whole amount is that they want to collect all of their fee quickly.

Its never good to default on a credit card as it will make it much harder to get another one when you can better afford it.

What you want to do is set up a re payment plan and send them 50 or 100 bucks a month until its paid off.
As long as your paying something on it they cannot take you to court.

Call them and tell them you have every intention to pay what is owed. You tell them what you can afford to pay a month dont let them tell you. The pushiness is just BS they cant really do anything much to you.

At least if you pay it off it wont show up as a bad debt on your credit report and you will be able to get credit again in the future.
If you ignore it and dont pay anything they will eventually stop calling but your credit will be affected for many years.

KOD

 

[michaeljbird]

Hey Gravy, I would call the gal that licked your soldier after you way-layed her bung hole and tell her you could really use some help. After all,what's a short term loan among old friend's.

 

[SixFive]

First of all, you owe the money. Second, credit card debt collectors are the scum of the earth. Do NOT pay it with your tuition money. You need to write DIscover, not LLC credit collections. Detail your finances and set up what you can pay per month. You can attach your first payment along with a cease and desist letter for the credit collection company(especially so they can't call you at work)which will make them stop calling you. Work a few extra jobs and build up about 500 bucks. Call them back and ask if they will settle your debt for 400 bucks. If they say yes, good! If not, say, ok, I have 500, and they might just do it. I would highly recommend you not talking to Ameridebt or any of those other consumer credit agencies. You can do all that on your own.

 

[PaTsJaMM]

There's no way they'll take you to court for that amount. That's pocket change, and it wouldn't even be worth their time. Do what others have said: contact the card company and see if you can get them to cut you a deal (usually around a 50% break if you pay it off at once) otherwise you'll probably just be treading water especially if finance & late charges have brought you over your original card limit, in which case you'll be paying a monthly over-limit fee as well which is usually around 30 bucks I believe.