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dlb5006571 · Aug 30, 2009, 09:21 AM

We live in CA and yesterday my hubby was contacted by an attorney regarding one of our credit cards. We are delinquent on this account. We were told they purchased his $1500 debt and were given 3 options to pay it back. We could not agree to any of the 3 because they wanted an up front amount we do not have. We explained we could pay a certain amount a month. He said we could pay $40 a month as long as we paid like $300 up front. I explained that was impossible. So we are going to send them $60 a month with a letter stating we can pay $40 a month and more if we are able. my question is if they accept the $60 payments can they still sue me? Also even though they are an attorney are they still considered a "Third party collector"? Also, what are the chances they will take us to court over $1500 and especially if we pay each month like we are supposed to? I have never had an attorney try to collect a debt and I looked online for answers and there are none. We are paying all other bills on time and really can't afford much more then that but if you have advice I would greatly appreciate it. I am very happy to have found this site I will have to tell others about it. Thanks :)

excon · Aug 30, 2009, 09:32 AM

Originally Posted by dlb5006571

my question is if they accept the $60 payments can they still sue me?

Hello d:

You are already in default of your original agreement, so the answer is YES they can sue you. What agreements you make now, or even if you don't make an agreement and STILL send them money, THEY CAN SUE YOU. You are, in effect, at their mercy...

That is, if you still have a credit rating to save, and/or assets that can be seized, or income that can be garnished... If you have any of those, it's really best to settle with them. I know you don't have the money, but if they sue you, you're going to owe TWICE as much as your original bill when they add court costs and legal fees...

If you can somehow BORROW the money, with CASH in your hand, you can probably settle the debt for HALF what you now owe.

So, tell me what your position is, and I'll tell you how to proceed.

excon

dlb5006571 · Aug 30, 2009, 09:47 AM

I know they can sue me but is it in there best interest to do so over such a small amount? I mean if we pay and they accept it doesn't that mean they accept my payment plan. They are asking something of us we simply can not do. Funny thing is they will allow us to make the payments of $40 but only if we give $$ up front. We have zero assets and what ever we make goes to all other bills. This is the only one we got into a jam over. Husband works on commission in the auto industry. So I am OK with going to court and defending myself, we want to pay this debt but what are we supposed to do when they ask something we can not do? We can not borrow, everyone we know is just as broke, got to love this economy. Plus we will most likely pay it off when we get our taxes. I just want to know how likely it is for them to do so if we keep in contact with them and we keep making payments??

excon · Aug 30, 2009, 10:02 AM

Originally Posted by dlb5006571

i just want to know how likely it is for them to do so if we keep in contact with them and we keep making payments???

Hello again, d:

It's really not a determination that I could make. It depends on LOTS of things. I think the amount IS sufficient for them to sue over. They probably bought the debt for $150, and like I said, with a judgment in hand, they'll collect 20 times what they have invested. That's a pretty good return on their investment... Yup, they'll wreak havoc in your lives. Do they care? Nahhh.

Yes, paying them something MIGHT stave them off. It's certainly better than NOT sending anything.

excon