Collection Questions

[gkirk]

What is the name of your state? Georgia

My husband bought a motorcylce - we have almost paid it off. We owe about $1,000 on it. Got behind in our bills and this one is about 4 months behind. We have every intention of paying the bill but in the mean time it was turned over to Corporate Receivables for collections. When I called the co. to set up a pay back he said that was impossible that it had been turned in as a refusal to pay. I explained to him our problems and he stated that if we didn't send the money he would have to file attorney's fees. He then stated that he would have to call the lending company and would get back with me on the final settlement. It took him 3 days to get back in touch with me (I wasn't home when he called) and I have tried everyday to reach him but keep getting his voice mail.

Just want to know the legal amount that I can be charged for attorney's fees and can they demand full payment without trying to set up a repayment?

[bdancer]

Your loan paperwork probably specifies exactly how much can be billed for legal fees. The creditor doesn't have to accept any payment arrangements. You chance to make alternate payment arrangements was back when you weren't going to have the funds for the first missed payment.

I'm surprised they haven't taken the motorcycle. That's what I'd be doing.

[gkirk]

I talked to Joe at C.R. yesterday - he said that I had until 9/30/05 and the amount owed would only be $25.00 more than on my statement. Sent $500 and will be sending balance on Friday. Everything worked out okay. Thankfully something came through with my husband's job and we are able to pay it off in full.

I know that they could have taken the motorcycle and had every right - I'm surprised they didn't also. I guess someone larger than me was watching after us.