Questions about Debt Collectors..NEED HELP!!

346
18
Joined Mar 4, 2004
Yes NT I am in debt around $400 I needed money to pay my rent in December and had to overdraw my bank account. I just got a job last week so I'll finally be able to pay it off but now its in collections.  I had a call today from a lady on behalf of a debt collection company verifying my address so that if the debt doesn't get paid a Sheriff can serve me a suit? <--- (I think this is what she said) Can someone please explain to me this process a little better I have never been in a debt in my life I just hit a bumpy part in the road and now with my new job I am trying to overcome it. Thanks.
 
1,336
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Joined Apr 8, 2008
Talk to the company thats calling you and make payment arrangements. You can't get another bank account until you square that one up, the lady was just bsing you about the sheriff, she just wanted to update your contact info.
 
2,478
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Joined Jul 2, 2002
I don't really know about the actual process, but you can def make payment arrangements with them. How'd you pay January and February rent though with no money in the bank and no job?

My boy had Kohl's calling him every day for an entire semester cause his account was wayyyyy past due. Started off as a belt, tie, and socks and they got him for a lot more money
 
346
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Joined Mar 4, 2004
She said no payment arrangement all I can do is pay in full. I'm willing to pay I just have to wait until I get paid next Friday, so I was just making sure a cop wouldn't come to my place.
 
360
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Joined Dec 22, 2002
you typically have 30 days minimum before a debt collector can bring a suit against you. you were just notified about it today so there is no way they can serve you that quickly. she was just harassing you to get your contact info and to scare you into paying up right when she called. thats how they all work, they get a commission based off how quickly they can recover debt, she just wanted to make a bonus or whatever on her next paycheck. Anyway, as soon as you have the money together pay it off in full and you'll be fine. having an account in collections isnt the best thing to have on your credit report, but its a hell of a lot better than a judgement if it actually goes to court.
 
15,762
513
Joined Sep 5, 2005
Debt collectors charge lots of dough, if you owe $400, it's not worth them serving a lawsuit against you, but they will harass the crap out of you until you pay it.
 
346
18
Joined Mar 4, 2004
Thanks for the help NT. Its not like I am avoiding the debt I just have to wait to get my first paycheck.
 

workisforlames

formerly latinplatinum69
600
130
Joined Jul 15, 2000
My man relax at one point I had over 10g's in collections between 3-4 accounts. They'll tell you they cant make arrangements to be tough and scare you(Most of these peoples work on commissions I believe) but thats B.S. Get the name of the company and number and call them yourself. Explain to them that you've been having financial difficulties but you'd like to make arrangements to pay your account in full. If they give you a hard time ask to speak to a manager. Also if its a bank account that you'd overdrawn you can probably goto a local branch and speak with someone and make payments on the account. But dont stress yourself homie you wont get locked up for owing money.
 
6,393
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Joined Dec 2, 2009
Originally Posted by latinplatinum69

My man relax at one point I had over 10g's in collections between 3-4 accounts. They'll tell you they cant make arrangements to be tough and scare you(Most of these peoples work on commissions I believe) but thats B.S. Get the name of the company and number and call them yourself. Explain to them that you've been having financial difficulties but you'd like to make arrangements to pay your account in full. If they give you a hard time ask to speak to a manager. Also if its a bank account that you'd overdrawn you can probably goto a local branch and speak with someone and make payments on the account. But dont stress yourself homie you wont get locked up for owing money.
im sure your credit is somewhere in the 400's
 
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