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Credit Card Collections
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Posted by Jamie (4.35.44.27) on June 16, 2002 at 18:05:39:
Hi ,
I have two credit cards with the same company and I am now deliquent on both. I have other cards and have managed to catch up on those, but recent financial difficulties made it impossible for me to pay everyone. I tried contacting the company to negotiate a reduction of what I owed them and they were willing to do this by phone but I needed to give them a phone payment "right now!" quote... I asked the rep "You mean to tell me , if I called you next week and tried to make a payment at that time you would refuse to do this?" She hemmed and hawed and told me that next week I might be dealing with a collection agency and not the company directly!. Funny, but they already have sent it to collections ( they have an in house collection company and I am getting dunning letters). I asked if I could combine the payments into one and at first she said no. Then she did a complete turn around and did exactly what I had asked her to do. But I didn't give her a payment by phone as I have no control over when that check would clear. She stated that "Oh, don't worry, if you can't make the payment then just call us and you can cancel the phone pay transaction." Yeah, sure I thought to myself and I am going to find money under my pillow from the tooth fairy....
I would like to negotiate a payment schedule with them but am hesitant to give them any post dated checks. I did cut up the cards and asked them to hard close the accounts in writing. This was basically ignored by them. I thought that they had to hard close accounts when requested to do so by the consumer???I don't understand this but believe I have heard this somewhere.
The interest rate is the top that they can legally charge me on these cards. I have had these cards for 6 and 3 years respectively and until 9/11 I was on time and never ever even incurred a late fee. I am self employed and live in Florida. I also own a home with my husband but cannot take out a 2nd mtg to pay these cards off.
What should I do?? I really hate to ruin my credit because of these two cards, but don't see the light at the end of this tunnel..Any suggestions>>
Thanks
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