Debt Management Info Blog

bodmodangel asked:


I have about $9,000 in medical bills right now b/c of 2 knee surgeries and on-going pain management.
$1,500 of this in collections b/c the company isn’t willing to deal with me.
I have payment plans for the other $7,500 and am paying on it.
My grandparents just gave me $1,000 to help pay on my medical bills.
Do you think I should just keep paying down the ones and just send them the $1,000? Or send the collection agency the $1,000. It was only placed with them about 2 months ago so they aren’t going to deal. I will not work with this collection agency; they were harrassing me soo badly I had to send them a letter to stop contacting me. I have tried to contact the original place to debt to set up a payment plan, but they don’t return letters nor phone calls.
What should I do with my $1,000 ??
I don’t qualify for any of the special programs b/c I live with my mom and she makes “too much money” haha. Like she is paying my bills!

If a debt is with a collection agency, the original debtor can still ‘own’. the debt. I worked in AR for 2 years. It depends on how the deal was done. As new as the debt is; they probably didn’t buy it. That is usually done when a debt is 2-5 years old and isn’t going to be recovered the original debtor has “written it off as a bad debt”.
The collection agency is already reporting to all 3 credit agencies…. blah.
I am DEFINITELY not considering bankruptcy!!!!! NOT even close! I can pay all my bills. I just am NOT going to deal with a collection agency that harrasses me. That is why I haven’t paid that bill.

flavaa asked:


Hello,

I am up to my neck in debt. I am sick and tired of the bills and phone calls. I fell behind a couple of years ago and was never able to catch up. Now, I would like to find a legitimate debt management, settlement or consolidation company. I have been doing some research online and there are soooo many different things to look out for. I see that some companies will take your money (scams)…some will put it in an account and wait for your money to accrue before they pay anything….some companies have lists of violations or BBB reports. I just don’t know where to look and how to choose what’s right for me. I do NOT want to put out any money (because I am already in debt) and I can’t afford to be scammed or pay any outrageously high “admin fees.” I really don’t know what to do and I figured that I would “ASK.” If anyone knows of any legit companies or can make any suggestions to a particular company or if you have had a personal experience, please post. Thank you.

phil o asked:


As i said in my previous question i am on a Debt management Programme with LA Debt. All is going ok and the phone calls have stopped from the creditors. However, i’ve had to include another big debt which has taken me to cc £20000 of debt now. LA Debt have re-arranged the plan f.oc which was good but now they are suggesting an IVA. Its been explained to em and i’ve looked on their website (www.ladebt.co.uk) it all seems to good to be true. Can i really pay £212 per month for the next 60 months and be ut of debt.
i know this is done under a government scheme under the Insolvency Act. I’m going to go ahead with it unless any one can suggest otherwise.

carlyscag asked:


I have joined a debt management program with my first payment in the program coming up at the end of Dec. I am still receiving collection calls regarding payments. I know that the program has contacted these creditors with my payments that I will be making to them and they have agreed with them. I also know that after 3 consecutive payments with my program is when the creditors will stop calling and if they don’t then I can tell m program and they will speak with them. My question is do I answer these phone calls and tell them that I’ve signed up with a debt management program and to cease calling me? They are calling my cell at least 10 times a day and also calling my work, which my employer does not approve of. I think more than anything I am nervous to pick up the phone.

Fatherbear asked:


I have been getting phone calls from a debt management firm for over 4 years now asking for some bloke called Mr. Clay who i’ve never heard of and to my knowledge has never lived here. Each time we ask for our number to be removed from their database but the calls continue so my question is ‘do i have a case for harrassment?’

HAZEL W asked:


I’ve not been able to afford to keep on top of my bills as i’m disabled & on income support,& also have a lot of debt,which i’m on a debt management programme for.I’ve phoned BT several days ago,said i wish to have my services disconnected straight away & buy myself out the contract & to send in my final bill,& that i’d have to put the bill on my DM programme as i cant afford to pay it in one go.Several days later i find they’ve barred my phone to calls,but its obviously still on ’cause my internet is still on.They’ve just took me off option 3 broadband & put me on BT Openzone Pay As You Go,and barred my phone to calls.What are they playing at?I’ve sent BT several e-mails asking them to please completely disconnect both our services as i’m in no position to keep it,but our internet is still working,they’ve not disconnected us,& pay as you go will be more expensive as my son uses the internet 18 hours a day.What canI do to make them disconnect us,we dont want the services left on.

caress19126 asked:


Recently they sent me an offer for a credit card. Here are portions of the letter that I have edited to keep this short.

Midland Credit Management, Inc. has made an arrangement with Jefferson Capital Systems, LLC, to provide you with the opportunity to receive a no annual fee unsecured credit card.

If you accept the offer , the remaining principle balance of your present debt will be transferrred to a new Embrace Visa account as the first transaction to your new account.

Once your remaining principle balance is transferred, we will no longer service your account. By accepting this offer you can stop further phone calls from us regarding your debt. If you do no accept the enclosed offer, then your present debt will remain open with us for collection of the full balance including accumulated interest and fees, if applicable.

Would you take this offer?
Here’s more info:
Q. How will credit bureaus know the status of my old charged-off balance?

A. When your principle balance is transferred, Jefferson Capital Systems, LLC will report your old account to the credit bureaus as paid in full if your debt was previously reported and may still be updated. Even if your old account cannot be reported, if someone asks, the creditor on your old account can tell them that you have satisfied your obligation.
It also says that I’d be transferring my old debt at a 0% APR for the life of the transferred balance. If I pay a certain amount within the first12 months, they’ll give me a credit for what looks like about a third of what I owe. What would you do?

craina c asked:


i never asked for their help. they called. i said no thank you. i called the number given to me if i want to be put on a no call list. they called back 8 times after, yesterday. they have done this consistantly (3 times a week or so) for 2 months.
what recourse do i have?