Unemployed and may be sued - 06.17.09

Submitted by Upper Westsider on Wed, 06/17/2009 - 19:34

I returned the phone call to Alliance One, even though Capital One still owns the debt. Alliance One offered to accept $5200 on a debt of $6100, or a down payment of $2400 to continue my reduced payment schedule of $50. Alliance One hung up on me when I said that I could do neither.

What can I expect from Capital One/Alliance One; just make the reduced payments of $50 as originally agreed upon (verbally)? What recourse do I have if they do not accept this offer?

mjreb46 (not verified)

Hi Upper Westsider,

You can request Capital One to pull the accounts from the collection agency. I don't think the CA will accept your $50 payment (according to the verbal agreement with your creditor). If you are able to convince Capital One about your financial hardships, they may agree to pull your accounts from the CA.

In case Capital One does not agree to deal with your accounts, the only way would be to accept the payment plan the CA has offered. You can consider borrowing $2400 (for the down payment) from a close friend.

Thu, 06/18/2009 - 04:42 Permalink