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Okay, I've been slowing getting my personal credit together and I have a few of curious ones. 1) I have a rather large judgmeent for $9000 (with interest its probably almost 12000 now) that I got in 2011. I do owe it and all the service and everything was proper. I set up a payment plan for $200/month that's documented on the docket with the courts that both the attorney and myself agreed to it. I can comfortably pay the payment plan but with the size of the judgement and the interest on the judgement, it would take me almost 15 years to pay it back and I would pay $16,000 in interest alone!! I don't want that, I'd like to buy a house in a couple years. I don't have enough to pay off the entire balance but I could probably pay around $5000 in a lump sum. I should clarify that this debt is out of my current state of residence and they are unaware of my employment or bank accounts (not sure that matters?). My question for this one is would they have any incentive to take a settlement of less than is owed at this point? Should I even pursue a settlement? My take is I figure since I'm abiding by the payment terms anyway, I can't really lose. Any thoughts? 2) I have another judgement (I only have 2, I swear lol) This one is smaller and older. Only $1000 and granted in 2007 from Capital One and it was done properly. Also out of my current state and unaware of my employment and bank accounts. With interest this one is probably around $1300, which I could probably handle. I don't have a payment argeement with them but I wanted to try and settle for around $600. I'm not sure if that's enough but they havent been able to collect for almost 6 years so maybe, right? Again, any thoughts on likelihood of them to accept a settlement? How should I approach them about a settlement? Call? Write? 3) This one makes me angry. I have a collection account on my credit reports from some CA. They do not own the debt and its collecting on behalf of an apartment complex. It's from 2007 and apparently from an apartment complex I used to stay in. I did stay in the aparatment complex but when I left, I didn't owe anything as far as I know and never got any paperwork for past due owed. It's for about $4000. By the credit report dates, it will drop off my report next year in August. By the state SOL, it will be past the SOL in August of this year. Also out of my current state, unaware of employer/bank accounts...for now I guess. I called the CA and asked them to send me some verification of the debt. Or some documentation that I owed it. They said they did send out info in 2007 (to some address I didn't recognize) and they would not send out anymore paperwork to validate the debt. WTH? Well, Im not paying a debt they won't even send any documentation for. So how do I proceed with this one? Just let it roll off in 2007? If they decide to sue in these last few months they are able, will they have to sue me in my current state or will I have to travel all the way back to the state the apartment complex was in? And will they have to find me first? Maybe I'm worrying too much about it but my plan was to let the SOL pass and then contact the CRA and see if I can get it removed. Also they told me a payment was made on the account in 2009, I didn't make it, does that matter? I've heard it can reset the SOL? Thoughts? Any feedback or comments are appreciated. Also would like to hear from anyone who has ever settled a judgment for less than is owed. What did you settle for (percentage) and what were circumstances (old debt, garnishing wages, etc.), get it in writing?
Help Please Collection Agency will not work with me
desperateintexas posted a topic in CollectionsHi, This is the first time I have posted here. I had a debt turned over to a collection agency called CPS Security in San Antonio. The debt is for some purchases made on the easy pay type plans offered by shopping channels, where they bill your credit card each month for x number of payments. Due to just about everything in my life going wrong all at the same time, suddenly out of the blue, starting with a car wreck and going way down hill from there, my credit card became maxed out and my savings were depleted so when they attempted to make the future payments these were declined. Please don't lecture me, I feel bad enough about this, and I'm not kidding I am on the edge. I will have the money to pay them off completely by early July, and in the meantime I would like to send smaller payments each month to show I am serious and intend to pay this in full, but it is completely impossible for me to pay off the full balance now, I do not have it anywhere and I cannot get it in any way unless I kill myself and make them the beneficiary of the small life insurance policy I have (and no, I am not even thinking about doing that, a loan is out of the question, and I don't own a home or car or anything of value I could sell, and I can't go out and get a part time job as I am sole caregiver of an elderly parent). I sent them one payment with a letter explaining I could only make small payments for a couple of months but would have this paid in full by July, and they credited the payment to the balance but ignored the letter. They refuse to work with me. If I call them they are rude, they hang up, they threaten me with court, and send me these letters in all caps on yellow paper in the mail, they just sent one that says FINAL NOTICE that I have ignored them and threatening a lawsuit. I am terrified of going to court, I am very shy, anxious person so the idea of standing up in front of a judge and lawyers scares me to death and I don't have any friends to lean on for support or the money for an attorney and because it is a debt from a shopping tv channel I am afraid it will be even worse, that they will be mean and awful to me in court. If everything hadn't gone so wrong so out of the blue these would have been paid in full on time. I'm sorry and I want to make this right as soon as I can. I have even called the original creditor and explained and told them how the collection agency is, rude and hanging up and threatening and shouting, but they say I have to deal with the collection agency its out of their hands. If they do take me to court it won't change my financial situation, it's not like the money is going to miraculous materialize and save me from having to go, I won't have it before the end of June. It seems to me if they would only take small payments and just wait a couple of months that would be easier and cheaper on everyone involved instead of dragging this into court, but I can't talk to them. If anyone else here has had any success dealing with this agency, CPS Security in San Antonio Texas please let me know any advice or help would be greatly appreciated. Thank you and I'm sorry I'm so emotional.