Debt collection

[colaguy]

What is the name of your state (only U.S. law)? MI

I bought furniture on a credit account. The account had credit protection. I lost my job and couldn't make the payment, the account went past due which cancelled the credit protection, the credit company has since sold the debt to a collection company, I have been trying to come up with an agreement with the collection company but they are demanding the debt be paid in 7 payments or a 90% lump sum. I can make neither one. They are saying if I do not meet their criteria the only other option is to go to court and they will garnish my wages or put a lien on my house. I have asked for more than 7 payments, I could do as few as 12. They are being incedibly inflexible. What are my options?

[Antigone*of*Greece]

Originally Posted by colaguy

What is the name of your state (only U.S. law)? MI

I bought furniture on a credit account. The account had credit protection. I lost my job and couldn't make the payment, the account went past due which cancelled the credit protection, the credit company has since sold the debt to a collection company, I have been trying to come up with an agreement with the collection company but they are demanding the debt be paid in 7 payments or a 90% lump sum. I can make neither one. They are saying if I do not meet their criteria the only other option is to go to court and they will garnish my wages or put a lien on my house. I have asked for more than 7 payments, I could do as few as 12. They are being incedibly inflexible. What are my options?

They don't have to bargain with you. You might want to try and get the funds from another source to pay this debt.