Credit Card Help

Updated on September 24, 2007
J.H. asks from Grand Prairie, TX
8 answers

Ok 4 years ago I transferred all of my cc's to a no intrest credit card. I guess I forgot about one and they happened to stop billing me around the same time. I don't know if it was before or after I transferred. So now 4 years later they are back to get me. I have a collection agency calling me telling me my balance is now over $4000. It started at like $1600. So they are telling me if I don't pay the monthly amount they want me to pay then I'll get sued and taken to court. Ok I don't have $4000, or enough to make a good enough monthly payment. I told them I would pay $150/month and thats not good enough for them. They have now said ok we will take the $150 but we need ur account number and we will deduct it ourselves every month. So what are my rights? I know I owe the money, I'm not trying to get out of it. I really don't want to give them my account information.

Sorry so long...Thanks in Advance..You mommies are wonderful!

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So What Happened?

Thanks you to everyone, I am sending them a certified letter telling them what I want. Also, I will be calling them and telling them to send me a letter, I'm sure like some of you said that they will tell me they can't so..they will get my certified letter. Then if they take me to court then I have my proof that I tried to do something. Thank you mommies, you are all incredible.

More Answers



answers from Dallas on

Everyone else has given you excellent advice. I'll just add that you can go to From there you can listen to his archives online at your leisure. He is also on KLIF as Darla stated and now he will have a television show on the new Fox Business Network. Stay away from credit cards!!!! As Dave would say, "Act Your Wage". Instead of using credit cards, start an emergency fund.

I wish you the best. Don't let those Credit Sharks scare you. When they call you, picture them in a tiny cubicle, wearing a bad suit, drinking cheap coffee and wearing raggedy shoes. LOL

1 mom found this helpful


answers from Dallas on

Ditto what everyone else has said!!! They use scare tactics like "we are going to sue you" to get you to pay more. The reality is the collector calling you is paid on how much they collect from you so they will tell you almost anything so that they see more money in their pockets. You as a consumer have rights. First you have the right to verify the debt is legitimate. Once you are contacted you have I think 30 days to notify them in writing if the debt is not legitimate. If you do this and they can't prove otherwise then they are forced to stop contacting you and to remove it from your credit report. Next Google the Fair Debt Collection Practices Act and as boring as it is read it and become familiar with it. It is a law to protect you from unfair collection efforts and can do things like force the creditor to not contact you at work or stop calling all together if you notify them in writing. Contact them and agree to pay what you can, send all correspondence by certified mail so that you know they received it and have a paper trail, and get any and all agreements from them in writing before you send a dime. At first they will tell you they can't put things in writing but if you move up the chain to a supervisor or manager I guarantee you they will. The bottom line is if they don't collect anything from you they get no money from the original creditor to recover their expenses of contacting you etc. Also tell them that you know what your rights are, the more savvy you are the less pressure they are going to put on you. One more tip, be aware that if they offer you "a settlement" where you pay less than whats owed that when tax time comes you'll be forced to claim the amount they wrote off as income. Feel free to email me if you have specific questions and I will try to help. I was an auditor for many years, some of it in the Mortgage Collections field, and it was my job to ensure that the company I worked for followed the laws and regulations.

1 mom found this helpful


answers from Houston on

Ditto on Dave Ramsey. Keep after them until you get someone who will accept an amount as "PAYMENT IN FULL" & Get it in WRITING before you send them anything. All that add'l $$ is is interest. After 4 years, they'll probably settle for the original $1600, if you can scrape it together. NEVER EVER EVER give them electronic access to your accounts. And I'll bet if you send them $150/ mo. those check will be cashed & credited. Keep harrassing THEM unitil you get someone who will give you a deal IN WRITING. In some respects, you are BETTER OFF to let them "sue" you, then you can deal directly with the attorney's office...or as Dave calls them "intelligent life" compared to debt collectors. DO NOT LET THEM SCARE YOU! Just ignore their calls. Start listening to Dave on KLIF 570 am, M-F, 1-4 p.m. He takes calls like this daily.

Next, cut up the credit cards & use cash only. Cash never comes back to bite you like credit cards & it's really hard to over spend w/it. I know...It was news to me a year ago, too;)




answers from Dallas on

I saw red flags when they asked about account numbers. I'm wondering if this is a scam. I can't imagane you would go for 4 years without hearing anything on over a thousand dollars!! Good for you for not giving away your private info. I'd ask to speak to the company you owe money to and take it from there. I bet you never hear from them again.
Sorry you are going through this.



answers from Dallas on

Scare tactics and if they keep hounding you, you can press charges against them. DO NOT GIVE THEM YOUR ACCOUNT NUMBER. Have they ever notified you via mail that you were even in collections????? And if so, tell them to resend the letter with a request IN WRITING for automatic payment deductions. Also, you may want to consider settling with thme. Most collection agencies will take something in lieu of the entire payment. Dont give them your information though and if they push you, YOU PUSH BACK. It is harrassment for them to call you and threaten you. If you dont want them calling anymore tell them, let them know that you will start recording everytime they call. It is against the law for collection agencies to continue calling you when you have requested them to stop calling - especially when you are trying to set up a payment plan. Make sure you get everything in writing!



answers from Dallas on

Do not give them any access to your account or post dated checks. Tell them to send you something in writing to say that they will accept $150 a month and then send them $150 a month.

Read the Total Money Makeover by Dave Ramsey.



answers from Dallas on

Absolutely DO NOT give them any account numbers-they are trying to bully you! You be firm with them and stand your ground-have they sent you any type of statement? Until they do-don't pay a dime, make sure it's legitimate. Once they send you a paper, only send them what you can-if it's $150.0 great and I guarantee you that if you send them that amount they will not complain. They are not going to take you to court because it will cost them more than the $4000.00 just to do that. It's not worth it. Send them what you can and when they call you, don't entertain their conversations, tell them that you have made a payment and will continue to make payments but that you ahve nothing else to say to them and hang up. You be in control of the situation-not them.



answers from Dallas on

I feel your pain. I don't know really what to tell you to do, but watch out for the trick where they say they will accept a certain amount, and you pay it for month's, then you have your credit run and realize that they are saying you are still delinquent and not making payments as agreed. This happened to me and when I contacted the company, they said it was because I didn't pay as agreed to start with. Also, when I made payment arrangements with them I ask them to send me something in writing and they said they don't do that. This was a well known company. And I don't have any choice but to pay it off or it will never come off my credit. Hope this helps and you have better luck than I have.

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