Collection Agency Harrassment & Can They Take My House or Bank Account

[whatnext09]

What is the name of your state? California.

I posted this on the debt forum. Hope it's ok to post here, too.

I have paid off all but $25,000 of a $100,000 credit card debt. Am in the process of applying for a loan on my house to pay off the rest, at settled amounts. Have 3 questions.

1. One of the credit collection agencies was awful to my minor child. My child answered the phone when I was out, told the guy I was out and asked for a phone number. The jerk yelled at my child, told him he thought my son was lying, told my son he was going to cost his parents thousands of dollars and that it would be my son's fault, and hung up on him. I'm still going to pay the bill, but can I file a complaint against the jerk?

2. If the loan I'm applying for doesn't go through, and any of the 3 credit card companies gets a judgment against me, can they force me to sell my house and/or can they sieze my bank accounts?

3. I'm considering hiring U. S. Financial Management of San Diego to step in. I've checked them out and they look like a reputable company. They say they can negotiate a settlement for $5,000 less than what I've been able to do so far. I'd be in a 3-year program making monthly payments of about $700. That is a BIG STRETCH ... but, if the loan goes through, I can pay them off after making, at most, one payment. I'm thinking this is a good idea.

Any advice? PLEASE! Thank You!

[JETX]

Originally Posted by whatnext09

I have paid off all but $25,000 of a $100,000 credit card debt. Am in the process of applying for a loan on my house to pay off the rest, at settled amounts.

First, I want to congratulate you on your ethics and integrity. The desire and action of paying off that considerable amount is admirable.

One of the credit collection agencies was awful to my minor child. My child answered the phone when I was out, told the guy I was out and asked for a phone number. The jerk yelled at my child, told him he thought my son was lying, told my son he was going to cost his parents thousands of dollars and that it would be my son's fault, and hung up on him. I'm still going to pay the bill, but can I file a complaint against the jerk?

Yes, you can certainly file a complaint with the 'jerks' management if it will make you feel better, but it will likely not result in any action on their part.

If the loan I'm applying for doesn't go through, and any of the 3 credit card companies gets a judgment against me, can they force me to sell my house

It depends on the equity you have but, yes, it is possible.

and/or can they sieze my bank accounts?

Yep.

I'm considering hiring U. S. Financial Management of San Diego to step in. I've checked them out and they look like a reputable company. They say they can negotiate a settlement for $5,000 less than what I've been able to do so far. I'd be in a 3-year program making monthly payments of about $700. That is a BIG STRETCH ... but, if the loan goes through, I can pay them off after making, at most, one payment. I'm thinking this is a good idea.

Any advice?

Not really, other than be VERY careful and investigate ANY debt consolidator or negotiator. There are LOTS of sleazy scams out there.

[jc05]

I consolidated my bills and the things that they don't tell you is that it affects your credit you can't get a house or any type of loan. They charge me $10 a month. hey lied to me they said that this will help my credit and that it was non profit organization. I suggest to try to pay your bills every tax return if you get any money, borrow from a friend and get rid of stuff you don't need to pay for like the cell phone, cable, try not to take your credit card to the store that just makes you spend more money always take cash give yourself a allowance calculate what you can afford before going shopping including the bills. If you can get another job. I hope this helps.

[whatnext09]

I understand that if I'm not able to pay the 3 credit cards before they file a lawsuit against me, they can get a judgment against me. Do they most likely just place a lien against my house?

I keep hearing that "under some circumstances" they can force me to sell. What are "some circumstances?"

Thanks.