Unfortunately, what YOU want doesnt mean much to the lender. THEY want their money and they have LEGAL options to obtain that money if you have it. Remember when you wanted that car??? You agreed to certain things in the contract you signed. Maybe you didnt read them, but you agreed to them. You need to get ready to make CHANGES to how you handle this account. Good Luck.
Contact your lender and arrange payments. Was your vehicle taken?
Thanks for everyone's responses. To roosta: thanks for your message but next time if your going to leave a message maybe you should leave a useful answer to the question. Please don't waste your time with a nasty response.
I did contact the lender (53rd bank) many times. They won't talk to me and refer me to an outside collection agency. Here, let me explain the situation in the past: the 53rd bank collections department (not this collection agency) always worked with me to arrange payments. They sometimes sent the account to the collection agency who would typically call for 2 weeks "and then" the account would go back to the 53rd bank collections department. The collection agency always demanded for full payment of what was "only owed at the time" to get all caught up. This time the Collector has the account for 2 and a half months and he is offering a price break if I pay in full. Has anyone gone through this? Anything I could do to get the account back to the bank? Thanks.
after 180 days of non payment your account will be charged off and turned over to collection agency
If you don't pay your credit card you will get a nasty call from a Collection Agency demanding immediate payment.
The balloon payment calculator takes into account your balloon payments, or your large usually last payment of your loan, and meshes it with your current loan and additional payments.
Send them a certified letter demanding that they stop, and further demanding that they only contact you via the mail. Advise them that they will be in violation of the Fair Debt Collection Practices Act if they do so.
Have the collection agency send a written agreement accepting the settlement or payment amount agreed upon BEFORE rendering any payment(s).
After 180 days of non payment they will close and charge off the account and most likely farm it out to a collection agency
Yes. And it stays on 7 years from the date of payment.
It means the first day the account became delinquent. Say your payment was due Jan 1, 1997 and your contract stated the account would be delinquent if payment was not received by Jan 15, 1997 and you made no payments on the account after that date. The date of last activity should be reported as Jan 15, 1997. If it is not then dispute the account with the CRA's.
Yes. There are many companys that do this. They work with the creditors and help you make the payments that you can afford.
Contact the original creditor. Provide proof of your payment. They need to retract the account from the collection agency. The account could have been sold to the collection agency or simply assigned to them. For your purposes, it does not matter which situation applies. You paid the original creditor and your credit report needs to reflect this. After they do what they need to do to get the account back; you then dispute the entries with all three credit bureaus. The original account should show as a paid collection and the other collection account should be removed from your credit report entirely.
Outward bills for collection is a process in domestic sales where the bank collects payments. Export documents are presented by the seller of goods to the buyer's bank for payment.
An account receivable is always created