My husband and I had a credit card that we unfortunately had to use a lot. We spoke to the credit card company and explained we could only pay a certain amount each month. We explained we were not always able to pay the amount on the bill (but sometimes we were). Instead of working out a payment plan they continued increasing our interest making the debt increase and the expected minimum payment increase. Now they have turned it over to a collection agency for payment in full in 30 days. Can you give me any suggestions on what to do? I was not able to pay the bill in full then and I am not able to now. And my next question is, since they were aware of my financial situation is there anything that could be done about the accumulated interest?

Did the credit card co. charge off this account?

THe collection agency now has this account, you can call them and try to arrgane a payment plan with them.

They did not say it was a charge off...

The only advise they could give me was to get another credit card and transfer the debt or get a loan to cover the debt. The only other option was to pay 25% now and the balance in 30 days.

Check with the bank you deal with for a personal loan to pay them off. THe bank rates would be better the credit card.

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Originally Posted by jackleslie00

My husband and I had a credit card that we unfortunately had to use a lot. We spoke to the credit card company and explained we could only pay a certain amount each month. We explained we were not always able to pay the amount on the bill (but sometimes we were). Instead of working out a payment plan they continued increasing our interest making the debt increase and the expected minimum payment increase. Now they have turned it over to a collection agency for payment in full in 30 days. Can you give me any suggestions on what to do? I was not able to pay the bill in full then and I am not able to now. And my next question is, since they were aware of my financial situation is there anything that could be done about the accumulated interest?

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i don't know what you can do, since i have a similar problem with my credit cards. but i will tell you one thing, some collection agency went into my bank account, Commerce Bank that is and put a lean on my account i am not able to touch my cash because i guess they plan to keep it..and from what i understand it can be happening with most banks so if you have an account , i suggest you withdraw from checking or savings or whatever until you fix your problem. i checked my credit report since this just happened to me and i rather clear my account myself then have those angencies rip me off. I had no idea the banks would allow anyone to have access to people's personal accounts. i TRUST no bank, not anymore. anyway just a suggestion and Good Luck hope i helped a little bit.

It Is Illegal For Any Credit Card Compnay To Garnish Your Bank Account. You Can File A Class Action Suit Against Your Bank, The Creditor, And Any Other Party Involved And You Can Be Generously Compensated For Your Damages

They must have a court order to garnish an account, if garnish without one you would have a case against the bank.