“Dear Steve,
A law office harassing me a bout a credit card bill I have. I lost my job, told the credit card company that I would pay 10 dollars a month to them until I found employment and could pay more. I have since found out that they have charged it off and referred it to a law firm.
My question is, am I within my legal right at attempting to show effort to pay this debt with just 10 dollars a month? Or does it need to be more to be a leagal attempt? Also, can they legally charge off my account while still excepting payment from me?
Jeff”
The Answer:
Dear Jeff,
A $10 a month payment is not going to stop a thing. The only acceptable payment is going to be either the minimum payment required or a temporary alternative payment negotiated and agreed to by your creditor.
The charge-off is really out of the hands of the creditor. Once your account goes 180 days past due from the contractual payment that should have been paid the account MUST be charged-off.
It will then most likely be sold and a new debt buyer may attempt to collect or sue you for the balance due.
Please update me on your progress by posting updates here in the comments section of your question. I’m very interested in how this works out for you.
If you have a credit or debt question you’d like to ask just use the online form. I’m happy to help you totally for free.