Legal Advice


If I know I cannot pay off my collections debt in 3 years, is it worth it to pay anything at all? related questions

  • 1If I know I cannot pay off my collections debt in 3 years, is it worth it to pay anything at all?

    I have a few smaller collections debts ($100-$600) from various companies. I had planned on paying them all off next week in one big swoop. However, recently a college debt has left the college and been sold to a collection agency. Now that it is owned by the collection agency, it is due in full instead of payments, and on my credit report it will show a "Non-Payment" $17,000 debt. So the question is, if I know I cannot pay $17,000 dollars in 3 years, should I even pay any of them. In 3 years they will fall off my credit report, and if I pay them early, I will still have a huge $17,000 debt. Can I have something on my credit report saying I am making On TIme payments to a collections agency? Or is it paid in full or nothing? P.S.- I understand that it is my debt and I need to pay it, while I appreciate the moral advice, I do not need for someone to tell me it again. If you do not have advice on the question I have, please refrain from demeaning, negative, or otherwise unhelpful comments about how I should pay my debts. Thank you. (I'm not trying to be rude, but I see people attack others on here instead of answering their questions.)

  • 2Is it worth it to pay old collections or just wait the 7 years for it to be removed?

    My husband and I got into credit trouble when we were younger. We are in our thirties now. Our credit scores are crap (low 500's) but we would still love to buy a home with our VA loan someday soon. Here's the issue, we have alot of old crap on our credit report that is either paid off or charged off. Some were deleted and others are just left on their with no action. Should we file for bankruptcy? Try and get stuff removed since it has been past 7 years? Or pay it?? I feel like everything we paid a year ago didnt make a difference and if anything made our score lower. We just are tired of renting and want to buy, we make good money....what to do!!!!

  • 3I have a medical debt that is in Collections.... How much should i offer to pay to setttle the debt?

    I owe 1,300. I have never paid one cent or attempted to make a payment plan. This debt is over 7 yrs old,....Does anyone have any advise on what i should do?

  • 4If a delinquent account is SOLD into collections after seven years, can it be sent to credit bureaus legally?

  • 5Credit card debt, collections?

    My husband and I built a house and end up going for our allowance 80,000. We're not sure what to do . I can only pay 600 a month to the creditors . How I can get the finance charges stop. I have 14 cards . We thought about selling our house as a last resort. We do not want to declare bankruptcy . Please any advice would be appreciated ! 600 a month is not enough to pay even the minimum .

  • 6How do I find out all of my debt, in collections and past due?

    I'm going thru a divorce &learning of thousands of dollars in collection &more that are delinquent &on there way to a collection. Yesterday I learned of a credit card company that will settle for a % of the debt. I contacted this company &informed them that I have never applied for a credit card in my life. They had all of the personal info on me needed to apply for a credit card. I have a feeling that my soon to be ex applied for &received a card in my name. They informed me to go to the police dept. &fill out a fraud/identity theft form. Is this the correct action to take? I had trusted that my ex was taking care of our finances but apparently she wasn't. I will probably have to file bankruptcy. Should I do this after our divorce is final and the debts are divided or file together with my ex, before the divorce is final? I obviously want to know ALL of my debt that is out there. How do I go about finding this out? SOMEONE PLEASE HELP ME!!!!!!!!!!!!!!!!!!

  • 7What happens if you dont pay a debt collector any money and you are in collections?

    What if you do not pay a debt collector money and is in collections ?

  • 8Is it worth getting your license under 18 years old?

    Therefore, it has always been my childhood dream to drive! I just turned sixteen nearly three months ago, and I've been debating on getting my license yet. Unfortunately, the latest generation of 16/17 years, even 15 years or when you could get a permit at 15, have ruined things for my generation of 16/17 years of age with accidents and such. First, it is necessary to start the permit obtained. If you get your permit and do not go to driving school, then you can go for your license test after 6 months of being issued the license. However, if you have to go to driving school, you can get your license after 4 months to get permission. With driving school, you get insurance discounts (still higher being that you are under 18), driving the formation of more sophisticated and less stressful by professionals for 30 hours classroom and 8 hours on the road, and course 'is more likely to pass their license test. Sounds fun and elegant, right? Well the cheapest driving school certified by my state is $ 395. And that's just a mom-and-pop. AAA, for a non-member of the AAA, is $ 650. And a member of AAA, which is reduced to $ 595. What a bargain! -No. Almost everyone else in my condition is $ 425, $ 450, $ 475, and $ 500. Not much if you look at what you're getting from it (cheaper insurance, less than two months awaiting licensing, training, etc. for many hours), but if you only have to wait less than two years, When I'm 18, I'll pay the cheapest insurance - whether driver ed I (? but really, who over 18 years going to the driving school), making it the 400 or so dollars that keep in my pocket. Not to mention the stupid rules and regulations for teen drivers, such as not being permitted to drive 11 pm-05 am unless emergency, or not being able to taking friends as passengers for the first six months .. . even with your license. It's like, wtf dude. Really? The only downside is that I will live the life of the city-bus, and depending on other people for rides. So essentially, you think it's worth paying almost $ 500 for driving school? Think about what else you can use $ 500 for. All you have to do is wait until I have 18 years and I can use that money on something else now. Or even put it away and start saving for a car for when I am an adult. Nor do they have to pay high insurance rates if I have 18 years. So let me know, because I'm really between a rock and a hard place here. I have friends who turned 16 after me and are in the driving school, and it seems cool and a great milestone to be 16 to get your driver's license ... but with all laws and expenditures, not should I expect? ?

  • 9Collections agency collecting debt for company that no longer exists.?

    My wife had a debt with a hospital that has closed and filed Chapter 11 bankruptcy . We have a collection agency trying to collect a debt from this bill . There is a phone number that appears on your credit report and the PO Box provided is not valid and the account continues to rise with interest . We have never received anything from this agency in the mail . We filed a dispute with Experian and returned as refused , but does not include any details . I will try to call the agency tomorrow from the number on the BBB site for information , because I do not think this was originally sent to insurance, causing a high bill . What steps do you take to resolve this?

  • 10I have a medical debt that has been sold to a collections agency. Can I offer them half as a payoff?

    Someone told me the agencies normally buy these accounts for a fraction of the amount due, then collect what they can, sometimes accepting half as a payoff amount. If I had had the money, I would have paid it off originally, but right now I'm not even making it paycheck to paycheck and the collections agency will not set up monthly automatic withdrawals or anything other than the full amount. Any suggestions? I'm not debating I owe the money, just can not pay it at this time.

  • 11Tax Debt Relief Companies. Are they worth it?

    I just received a second letter from the IRS saying you owe taxes on your tax return for the last few years . My first letter arrived a month ago . Honestly , I can not afford to pay and I'm just doing my credit card payments . My brother told me that there are companies tax debt relief that can help me get into a plan of settlment , but I got a brochure from the IRS that states exactly how I can do this . Is it worth using a company Debt Relief Tax if the IRS tells me how to do it myself ?

  • 12Is filing bankruptcy worth it in this case? Almost 50k in debt.?

    This is in regard to my uncle : He had to pay for two funerals and other emergencies. Somehow ended up in a lot of debt , about 50 thousand . He was sued a couple of days ago by a bank and is considering bankruptcy . He has his own house and another house, but do not want to sell it because the bank could seize it or something, plus you do not have enough to pay your debt, and still owes him a sum . And he knows he will be sued by the other companies that you owe money. My question is : Would it be better to try to resolve all disputes and not lose the house or goes bankrupt and lose ? Chapter 13 is not good cuz you still have to pay most of out and still have the stain on his record. Any advice ?