collections agencyes

[unnerved]

Can a collection agency refuse a payment, or make you pay more than what you are willing to pay. Example: you will send $40 dollars a month..they say that is not good enough they need all or at least $500? Do not know where the collection is located. I live in Texas and debt was aquired in Texas. Thanks...CRH

 

[shellcab]

I am in the same exact situation. I also live in TX and the collection agency ask what I could send, I told them 50 dollars and they said forget it, that it wasn't enough and that I needed over $500. Honestly, I don't think that they can refuse our payments. As long as we pay something they can't do anything to us. They just want more money and to get the debt paid off the fastest. Good luck to you. May I ask what credit card this is? Mine is Discover.

 

[racer72]

Collection agencies are not in the business of revolving credit, they want what is owed yesterday. They do not have to accept payments and they can demand as much as they want. Once you became default to your original creditor, the agreement between you and the creditor is tossed out. You really have two options with collection agencies, work out a payment plan acceptable to both (and expect very high payments) or they will sue you and win. Once they have a judgement against you, they will garnish your wages, attach bank accounts and place liens against all your property. Once a debt has gone this far, the only out is bankruptcy.

 

[shellcab]

In some cases you may be right, but in some states, like TX for example a lien CANNOT be placed on your property, or your wages CANNOT be garnished. Laws are different in every state, but I have talked to lawyers and they told me that yes they can order you to pay the amount, but can't take away your property.

 

[Jeter]

A collection agency can refuse a payment but they would't be smart to do so for 2 reasons: First, they would be prolonging their payback, which is the ultimate goal. Second, if they sue you, it will not favor the agency that you made an effort to pay and they flat out refused.

Shellcab is correct that as long as you are sending what you can afford, they can't do much at all except complain.


Jeter