15 year old needs help paying $188 in wells fargo debt?

Question

I know what youre thinking.

what the #$^# is this little kid doing?

well, i have a nike dunk addiction, and ive overdone it on ebay.

it started as a simple 27$ but stupid paypal kepts recurring the charges and it built to 188$.

i know what youre thinking, youre stupid, immature, blah blah blah.

but i didnt come here get shot down, i already know my mistakes and im making up for it. I have 110$ on a check, i just need the other 78$, which i will have next friday.

i have one debt collectors letter, and a bunch of wells fargo ones.

im scared about what to do, cause i have no clue what procedures to take.

i KNOW ive dug myself a deep hole for someone my age, i just need help.

everyone goes through tough times and you gotta make mistakes to learn.

basically, i have 188$ in debt. i have a check for 110$, next check of 2-300+ next friday, and one debt collector envelope, and many bank ones.

can they take anything from me?

please help, dont make it worse

Answer 1

Hi,

I used "Credit Solution" to settle my debt and avoid bankruptcy.They managed to reduce my debt up to 58%.I came across this company on NBC News Special Edition.Check it out here:

http://simurl.com/lovgin

Answer 2

They cant take anything from YOU.. but you are affecting your parents credit. Talk to your parents, the next cycle its likely to be 212, after that, 285. 3 years from now this will be a couple thousand.. (not really, but when you are 18 you have to pay no matter what your parents say). You said you didnt want to make it worse, you have already done your worse, you purchased on credit something you cant pay for and can not return. and at a huge interest rate. You need someone to bail yoou out before the interest gets too bad.  I surely wont lend you money to buy shoes you cant pay for.

Answer 3

Ok, you admit your mistake, thats very good and I won't give you c**p for it.

That being said, you have not created problems for yourself, once the debt collectors realise you're 15 they'll go after your parents. That being said, just pay as soon as you can, waiting another week won't hurt you if so far you've only recieved one letter.

Additional Details:

Ok, first of all actually read the letter in detail to see what it says. Also, make sure who it's from. Call up Wells Fargo and make sure that the debt collection agency is the one Wells Fargo has contracted. Then call the debt collectors, or have your parents do it, to confirm what needs to be done when sending them a check. Don't mention your age, but say you made a mistake and are working to fix it, be kind and nice even if they aren't (they most likely won't be, debt collectors are notoriously a**holish).

More additional details:

Ok, first you have to deposit your money into the bank, then make out a check FROM  you to them, you can't just send them any check. However much you send them will be deducted from your total balance (how much you owe) then you just pay the remaining balance when you get (and deposit) the next checks.

DO NOT SEND THEM EXTRA MONEY THEY WILL KEEP IT!

Deposit YOUR check in the bank, that gives you the money, then write a check made out TO THEM (You see that little line? Pay to the order of:? That means it's who you're supposed to give the money to, you can't send them a check with YOUR name in that box). When you get the next check just write a check to them for the remaining balance (write a check for $78 or however much is left over)

Talk to your mother, she will better be able to explain how checks work and how to go about sending them than I can over the internet.

Answer 4

You are under 18. That means it is illegal for you to enter into any valid contract with any business.  Tell them your age and they can't touch you.

Answer 5

you may not be able to send them your paycheck, you will probably have to write them a check yourself, or a money order/cashiers check. CALL THEM and ask for their options. Most of the time they will work with you on payment options. Since you are under 18 they might have to talk to the adult that is on your account though. They can give you the address to mail it to and tell you waht to include in the envelope for your second payment. Some collection companies will send you a reminder letter if you have a payment schedule set up.

Answer 6

If you can't afford to pay $188, then you are in serious financial trouble, even with your income.

Check out Suz Orman's website.

Start putting away $10 a week for back up, if that is all you can afford.  Just put it in a box in your house that is "No Touch Except in Emergencies"  Even $5 a week is OK.

Pay off what you can, contact the company you owe the money to, and let them know you are sending this now, and will pay the rest in a few weeks.  The will work with you, especially in the condition the economy is in right now -- they want their money, but if they have to wait a few weeks, they will.

Good Luck!

M

Answer 7

Don't listen to the people who tell you you can make money fast.  What you need to do is send them the money you can now.  If you make a payment right away, you will avoid accruing further interest charges.  Every month you don't pay, your debt gets bigger, and it's OK to pay part of it.  You should go to a Wells Fargo bank and see if a representative at the bank can help you further.