No. of Recommendations: 2
If you can stand one more piece of advice, here it is.
First of all, I doubt seriously you'll be sued. The guy starts at 10k, drops to 7k+ and then to 3 monthly payments. All in the first call.
Since this appears to be the only collector bothering you and, you say you want to repay creditors, I don't think I'd do the cease and desist yet. Call back Tuesday and tell him you and hubby talked it over and came to this conclusion. You've contacted numerous creditors and they are all working with you on a monthly payment and if he wishes to be paid, then he'll have to join the party. Tell him what you can realistically afford to send. If he agrees, tell him your lawyer insist on a contract stating that the payents will settle matters in full. Send nothing until you get an agreement.
If he doesn't want to bargin, don't make a bad deal. Just tell him you wish validation of the debt and not to call again until he is willing to let you pay monthly.
Now, a previous poster said something about a judge laughing at the collector if you were making paymnents and would order the same payments.
Nothing could be further from the truth. I've been in several courts and I've yet to see a judge laugh at anything. The judge will follow the law. If you look at the cc agreement, you'll find something in there that says demand payment in full upon default. No matter how sympatheic the judge may be, the creditor will win and can pursue your assets and wage garnishment.
If this thing ever does see a courtroom, you let it get way out of hand. Please see a lawyer before you get to that point.
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.