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moorekr8
Joined: 30 Sep 2009
moorekr8's page
Posts: 2
52 Magic Points
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Subject: Can they garnish my wages? Do I still have to pay because th
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Wed Sep 30, 2009 2:13 pm
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| A collection agency is calling me asking for payment for a credit card that has been charged off. i am agreeing to pay them but they insist that I give them my checking info to set up payments,I live in Virginia, please help! |
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sunnyca
Joined: 10 Sep 2009
sunnyca's page
Posts: 148
954 Magic Points
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Thu Oct 01, 2009 5:22 am
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Probab;ly what you can do is open another checkign account and put money monthy which is equal to the agreed monthly payment with the collectionagency
And give them that accoutn number |
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Justin
Joined: 17 Jul 2006
Justin's page
Posts: 1240
28942 Magic Points
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Thu Oct 01, 2009 8:46 am
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Hi Moorekr,
"Charge-off" does not mean that you do not have to pay the debt. It means that the creditor has transferred this debt to its collection department or sold off to a collection agency. You are still liable to pay the debt. Well, legally if you have defaulted on your credit card, the creditor can seize your checking account. However, to avoid such a situation you have to negotiate with them.
If they are not ready to negotiate, as in your case, you may give them the checking account info. You can stop the creditor from freezing your checking account with the help of Exempt Income Protection Act (EIPA) which lays down that, checking account cannot be frozen to pay private debts like medical bills, credit cards and bank loans.
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All the Best 
Justin |
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nathan
Joined: 01 Oct 2009
nathan's page
Posts: 2
49 Magic Points
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Subject: bad idea
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Thu Oct 01, 2009 3:12 pm
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never give them any account numbers they like to charge on their terms without authorization any overdraw accounts. Tell them they can
1. accept monthly payments via cashiers check
2. use credit/debit card and they waive all payment fees such as card processing fee
this is what i did
I sent out some checks to collection agenicies without any paperwork. i put account number on top then in comments put "i agree to remove all derogatory comments from credit bureaus within 14 days of check clearing and consider account paid in full by cashing this check". i sent checks to everyone for 50 dollars. I printed the cashed checks off my banks web site mailed to the CRA's showing they agreed to terms of deletion. Remember the people who cash checks dont do customer service and dont check that stuff usually. Very sleazy but i forced them to consider a 10,000 debt paid in full and forced deletions. DO NOT CONTACT COLLECTION AGENCIES |
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fireyone
Joined: 26 Feb 2008
fireyone's page
Posts: 4285
127 Magic Points
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Fri Oct 02, 2009 1:34 am
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I agree here with Nathan. I had a family member set up these type of arrangements and the collection agency went in and drained the account leaving her with insufficent funds and tons of bouncing checks.
You really need to start at the begining with debt validation and continue on working on a debt settlement, GET IT IN WRITING! You could also ask for a pay for delete. As you see there is alot to do before paying a debt off. Following proper valdation there is settlement offers, PFD's, payment arrangements and much more. |
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Liset
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Subject: Garnishment
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Wed Dec 08, 2010 10:48 pm
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| My wages are being garnished and I want to fill out a claim of exemption meanwhile I get ready to file bancruptcy. Would a claim of exemption stop the garnishment. I really dont know how to fill one out. Should I put that im in the process of filing bancrupt. What should I do? |
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