I talked today with a lady regarding my 57 day late Advanta bank corp account. First of all she mentioned to me debt management, I then mentioned to her that dmp would not help my monthly payments be lowered and I mentioned debt settlement. She then told me that they do not deal with DS companies as they require them to "sell" my account and they don't do that. I had never heard that before. And she also said that as of the 30th my account would leave her department and so somewhere else, collections I assumed. I explained my situation to her and she wasn't rude but she still was wanting me to make a whole payment when I had just explained that I could not. We then got cut off when I went down into a bad cell phone place. If they don't deal with DS companies, will they deal with DS lawyers?
Forums
Hi Kim,
Unfortunately this is your debt and not all creditors are willing to work with you. Been there done that. Usually when they do offer to work out something with you is after it goes into collection. I hate to say that but in some cases it's true. And it leaves a negative item on your report but from what you say it's already 57days late so I'm sure they have already reported it anyway. But if you can't afford to pay it it will end up in collections anyway until you can pay. So then you would send a pay for delete letter asking them to remove the negative item from your report after it is paid. But then again it is up to them whether they remove it or not. But then you can set up a payment plan and maybe even settle for less. Now this is how I would handle it but others may have other ideas to help you with this.
Hello Kim, Lots of people are going through this very same thing due to the economy and factors beyond their control. Hopefully you have found a good debt solution company (watch their are fraudulent ones also) to help you get back on track. Try to look at your states website and see if they have any recommendations. A lot are doing this now.
Once the bill goes into collections they will usaully try to work something out. The only other solution for the creditor would be to sell it or take you to court; most sell. Now by doing this it could really mar your credit so I would try to enlist an agencies help. I understand your delimma as I see so many people going through this very same thing. Good luck.
unfortunately with the economy there will be many more
Hi Kim,
I agree with Firey, that after your debt goes to collections, they might agree for a debt settlement plan. It will in any case go to the collections because you did not pay it on time and have got 57 days late. If you can do it alone, then calculate the sum that you will be able to give them per month. Get a settlement agreement done in writing and then sent a pay for delete letter requesting them to remove the negative item from your credit report.
If you wish to get enrolled in a debt settlement plan, that is also possible. In that case, check the companies thoroughly regarding the terms and conditions and the facilities. Also check if the company has a BBB rating or not.
GdekOKQlWzF
Brob58 Really appreciate you sharing this blog post. Really Cool.
qlVxFoWollXcXjtX
vmnTiF I truly appreciate this article.Really looking forward to read more. Really Great.