[ci000]

New Jersey


Hello! Last week I recieved a letter from an attorney of the credit card company I was with a couple years ago when I was 20, I had originally applied for a card to build my credit well that backfired. Im being sued for $1167.00. I was told I could call them ask for a lower settlement. I have never had the money to pay it. Even though in the beginning it was a small amount I was out of a job at the time for health situations and had no money then either. The money just started adding up. Now Im working again... problem is I have rent and bills to pay and get maybe $150 after my bills are paid to live off of. I had planned before the new year that Id call and offer a settlement once I recieved my income tax but they got to me first. Should have called but thought they would want the money immediately. Anyway .... I need some advice. I cant afford a lawyer... I'd rather settle this outside of court. I cant afford to get out of work... How can I go about doing this?

Do they really accept settlements? I was told I could ask for a settlement of $400... Is that too low?

Could you please give me advice on what I can do?

Should I let them know I can pay with my income tax? Is it too late for a settlement? I heard they would rather settle out of court??

Thank you all for your advice.


Also I have no idea how to fill out this answer thing? What do I say... Its given me options but none apply to me.

Any kind of advice will be greatly appreciated

[LawResearcherMissy]

Take a deep breath. What did the letter say? That they intended to sue or that suit had already been filed?

Who said you could call about a lower settlement? The collection agency? If yes, then call them and make arrangements. If someone else, call them anyway.

Surprisingly enough, many collection agencies are willing to make arrangements, because they don't get paid at all unless you pay up. Talk to them, work out a reasonable arrangement, and stick to it.

[ci000]

Thank you for your response.

I called them Friday. Asked about getting a lower settlement. They lowered it to $1100 that was the first option. Then He offered to make it lower to $950 and thats as low as they would go. Then I call back later explaining my situation that I SERIOUSLY cant afford that... do not have the money... at all... well after getting so upset with them they decide well I can allow payments of $350 for 4 months... again cannot afford that... My paychecks are below $400.. I asked if I could have it lowered and pay 50% of it they said no... of course it would take some time to save that money so I asked if I could wait to a certain date... no they were not able to... I want to pay my debt... but my debt from the credit card company... was half of that probably not even before it got to them.. HONESTLY if I had the money I would have paid a long time ago... and if I had it now... I would pay it.. not trying to get out of it... Trying to put to wait I can afford and put this behind me... But if I do what they need me to do... I will be without ... I have been a nervous wreck about this.. I am young and patiently trying to make my way to where I need to be... and with the amount my paychecks are after my bills and if they garnish my wages... It will take a very long time to pay that... and if my bills dont get paid other people suffer to...

Anyway I did some research online on the company that has contacted me.. I have read somethings about them... that has made me uncomfortable... Well I found some information that I should send a Debt Validation form filled out to them before doing anything... and that I should also contact the original credit card company instead of the debt collectors... Is this right information??

Wish I could talk to a lawyer for some advice... but I dont have money for a lawyer..

I am terrified of being ripped off... the amount of money to just throw away to anybody... when there is a possibility for some other option... I dont have that kind of money.. He was pressuring me as if I was holding out or something.. My original limit was very low and somehow I am suppose to pay some other company 3 times more??

I want more then anything to get this debt paid off it is a burden to have something like this hidden in my life.. but they are not allowing a reasonable payment plan or settlement that I can afford... I cant just snap my fingers and suddenly have $350 a month... I only get maybe $150 a paycheck for other expenses to myself that I need... to live... not complaining about the amount I have to live off as I am young and I have grown to manage that amount but when someone else is coming into that and demanding way more then I can give... thats just insane...


Well I have to call them back tomorrow... and not sure what I should do.

What about answering this paper for the court. What do I say in it? Thanks