i know texas has a law saying that if you are paying at least $20 a month that the debt collector has to accept it or the debt is paid in full. I live in new mexico and want to know if New Mexico has the same law or one similar to it. I am just getting back on my feet and I have a company that is refusing any amount except what they set and I cant come up with that much in 2 days. any help would be greatly appreciated.

excon

Hello ad:

Sorry, dude! Ain't no such law. What the law DOES say, is that if you are in violation of your agreement with the lender, he can sue you for every stinkin penny, plus court costs, and attorney's fees.

He doesn't have to accept anything. If you go to court, you'll lose. He'll get a judgment, which is a free pass to your bank accounts and your HR department. They’ll seize your accounts and garnish your paycheck.

Ok, in Texas, they can't garnish your paycheck, but they certainly get your bank accounts and any other property they find. And, they will too.

excon

PS> Bummer. I see that you're not in Texas now. Too bad, Dude.

finessed1

Send whatever you can and save your receipts. 9 out of 10 they will accept it. It's just those man-handling bill collectors that try to scare you into paying more so that more money is in their pockets. The worst they will do is send it back to you, but at least you've shown effort which can go a long way. And just think of the bright side... if they keep sending them back... after a while you'll have enough to pay of the balance in one lump sum.