Minimum Payments to Collectors in CA??

[Awesomemom]

Hello, can anyone pleeeease help me with something...can someone please direct me to any type of publication that states where there is a minimum that someone can pay a debt and they have to accept it without the collection agency going further?

Does that make sense?? Like, if you owe 400.00 and they want you to pay 100.00 a month and you can't afford it, then you say to them, "All I can pay is 10.00 a month"....don't they have to accept that....?

Thanks for anyone's help.

God Bless.

 

[Ladynred]

Unfortunately the answer to your question is NO, they don't have to accept it and there are no laws that can make them (or any creditor for that matter). However, when dealing with CA's, you do have some leverage in that they are governed by the Fair Debt Collections Practices Act.

CA's are going to push for the full amount, because that's what they get paid to do, and too many of them will use nasty and illegal tactics to threaten and scare you into paying it. If $10 a month is all you can pay, then just keep refusing to pay the full amount, tell them more is beyond your means. After all YOU hold the purse strings and they want it. They'll still push for the full amount or a lump sum settlement, but if you stick to you guns, its a pretty good possibility that they'll finally agree to payments.


Here's a link to the FDCPA.. read thru it and know what your rights are so you aren't intimidated by them

FDCPA

 

[Awesomemom]

Thanks so much

Ladynred,
Thanks for your help...I truly appreciate it.
Have a Blessed day.