If I am making any kind of monthly payment, does someone I owe the money to still have a right for Coll Agency
At first I was paying just like I was supposed to, but than my wife lost her job, and now I am only paying him $50.00 per month.
He wants his $250.00 (which I cannot afford) and is threatening me that he will sell my debt to the collection agency.
Someone told me (and I don't know if it is true) that while I make any sort of payment every month, that my creditors cannot legally sell my debt to the collection Agency. Is it true? Where can I look it up?
P.S. I did sign a paper that I will pay him $250.00 per month, but what can I do?
Answers:
You are in a predicament, but you will pull through.
You can't get blood from a stone - ever heard that?
Write a letter to your dentist explaining your situation in words. Be brief and to the point. For a little extra money you can get that letter registered. Keep your registration receipt in a very safe place. When you register that letter, they will have to sign that they received it, and you will know that they got it.
If you have a lawyer, just drop off a copy of the letter to your lawyer just to keep on your file. And of course, keep a copy for yourself. Show on the letter to the dentist you have sent a copy to your lawyer -- C: Mr. Lawyer's Name
In your letter to your dentist state what minumum amount you will commit to giving every month, or every two weeks, whatever you are going to do. Always try to give more, but be sure to keep to your new commitment you had to make because of your financial circumstances. And then just do it. Don't worry about phone calls and all their dumb threats. If you are truly doing the best you can do, no one in their right mind is going to "punish" you for something you can't help. And if they do, I don't believe there is anything else you could have done better.
There are so many good, honest hard working people that get stuck in situations like this that get harassed and threatened to no end. It is people like this that take a poor credit rating so badly and worry themselves sick over it. Then you have the cons that play the system and give a bad name to all people finding themselves in financially difficult times.
Try not to let it get to you. Stand tall, shoulders back, chin up...you and your wife will get through this.
Um, yes, he can still come after you. Your account is in default.
Actually it is ILLEGAL for them to do that.
Don't let them make you into a fool.
As long as you make an expressed contract, I don't care what they say, They CAN NOT make you delinquent when you are paying SOMETHING on a regular basis.
That's how I feel.
Yes. The Dentist can still refer your account to a collection agency. :( Especially since you have violated the terms of your payment arrangement.
There may be some legal exceptions, but that would depend upon factors you have not mentioned, like your geographic location.
I would call him up a negotiate again. He may not believe your story.
Realize that he will lose about 25% to 75% of the amount you owe him if he sending it to an agency, so he may just be threatening. If you are willing to make some kind of payments, he should be willing to accept it, but he does not have any obligation to do so.
I don't know the laws in your state, but I have also heard that as long as you are making an attempt to pay back a debt, they cannot forward your debt to a collection agency. You may have signed a document that stated you would make monthly payments, as long as you are making payments, I do not think they can come after you. Call a debt lawyer or debt loan company and confirm for your state.
Good luck.
Since you have signed an agreement that you will pay $250 a month and only ended up paying 1/5 of it, your dentist can use a debt collection agency to retrieve the remaining amount. He provided you with service and did agree to receive payment in installments, but you did not stand up to the agreement. Therefore, you're at fault. You can try to talk to this dentist and negotiate. Or, you can use your credit card and pay the rest of the balance to the dentist and pay your credit card company $50 instead.
You have a signed contract for a $250.00 per month payment and you have only been paying him $50 so you are in default of your payments. This means that the creditor can now demand payment in full from you.
the myth about sending "any type of payment and they have to take it" is just that, a myth. There is no law anywhere that states that. You can even check the Attorney Generals page for payments to a debt collector.
I would try to work something out with him. The last thing you want is a bil collector hounding you and a bad mark on your credit.
Good luck!
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