If i offer a debt collector what i can afford and the say no what can i do

Question

i owe 1600 i have 950 and they want take payments and they offer me 1280 for settlement

Answer 1

Dept Collectors Cannot threaten or harass you to try to make you pay.

tell your local trading standards department or consumer protection department. If you are in dept get in touch with the national dept line or local citizen advice office. numbers should be in your phone book or library.

Answer 2

If this is your only debt, you should go ahead and try to settle if you can, but if it is not, I would not bother paying it at all because your credit rating will not change for the next 7 years anyway for the better.

In other words, you tell them you can now only come up with 700 and they will say no you have to have at least 900 or so.  

Be sure that you get this is writing from them that this completely pays the debt, and does not just pay a portion of the total amount due.  Get that in writing first up front before they fool you into paying it as a payment only.

Oh, send them a letter stating they are not to call you at work, and do not give them your work phone number so you do not get harrassed at work for this debt.  Check to make sure it is a law in the state you live in that they are not to call you at work, or you can sue them for harrassment.  In Florida, all they need is a letter from you stating do not call the work number they have on file.

Answer 3

Make use of google to collect some related links or you could try to use answer engines like yahoo answer or answer.com to get some related answers.nonetheless,If you like some direct resource,here is a good resource from my own experience.http://debt-relief.expertips4u.info/debt...

Answer 4

I might suggest that you first see if the debt is collectable.  If they are making an offer for a lower settelment, then it  may be "time barred" which means it is beyond your states statute of limitations on seeking civil action (take you to court).

If it is "time barred" then do not make any offers to repay or acknowledge the debt as this will reset the state SOL.

Here is a link to find your states SOL for collecting debts.

http://www.bcsalliance.com/statute_of_li...

If it is NOT time barred, then you can try and settle the best that you can.  There are no rules or regulations that say they have to accept your offer.

Hope this answers your question

LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.

Answer 5

Legally they are supposed to take what you can give them..Even if it's ten dollars a month, but they are always insistent ,that they need there money NOW.Send them the 950, and make other payment arrangements till the balance is paid off.