13 Feb

This is a common tactic of the collection agencies

They say that your payments is not accepted and demand more. It is acceptable, but by doing you so you have bound yourself and admitted the debt is yours.

They will cash your check, have no fear of that. Just keep on doing what you ar doing and eventually you will have paid off the debt. Just keep close accounting and documentation.

The best way is to see if you can a lump sum settlement with them. You could probably get 30-40 cents on the dollar by doing this and just get this monkey off your back…now.

If you just continue sending payments it will be until hell freezes over when you finally pay off the debt. Better to cut your loses and start afresh.

Dave Ramsey’s method is good, as one poster mentioned, but it sounds like you don’t have the extra income to afford this type of program. However, if you could swing it then it might be beneficial for you to do so.

29 Jan

Another call

I had not spoken to this creditor so I tried to explain that I would send a payment every two weeks blah, blah, blah.

The rep got very upset with me as I remained calm and in control. She said that the payment that I sent in was unacceptable. I asked if they intended on returning the check to me? She said she wasn’t sure but based on the balance it was totally unacceptable. I then explained my plan and that I was doing what I could and thank you for your call.

I mentioned that I was notating the call and she got even more upset thinking that I had said I was taping the call and that she had not given permission to tape and that I needed to know the laws before I started taping and it was not admissible in court blah, blah, blah. I had to raise my voice to let her know that I was “notating” it not recording it. Sheesh.

Anyway – I’ll see if they cash the check or not. We shall see. But I stayed calm and stayed focus on the plan.

14 Jan

Not all my checks have been cashed

Any suggestions? I sent the checks on the 6th so there is a chance that they just haven’t processed them yet. I am about to send another payment out. Hopefully my plan to do the pro-rata plan will work out. 🙂 Seriously, I probably do worry a bit too much. 🙂

I received a letter today form Bonded Collection Corporation on behalf of Chase. I have a question. A judgement cannot be set against me without a court date, is that correct?

B of A also sent a letter stating that they were considering filing a lawsuit against me. The legal action would seek a judgement to collect the entire balance shown above. It is definitely in my best interests (according to the letter) to avoid litigation.

Chad – you really have a calming effect and I really do appreciate all your input. Everyone on this board has been positive and encouraging.

I will work on keeping the plan and trying not to worry about the possibility of legal actions and judgements.

Anyways….off to reading more of y’all’s lovely posts.