Can I Send a Token Amount to the Debt Collector And Stop Them?

“Dear Steve,

I was recently laid off. At the time I was halfway finished with paying off a $6,000 collection loan.

I am allowing them to wthdraw $250 bi-monthly from my checking acct. at this point w/ my unemployment I no longer have that amount available.

Should I close my acct? Is there a legal minimum amount I can pay until I am back on my feet? I want to do the right thing . I would like to be educated regarding situation when call the collectors



Dear Kathleen,

The situation can of answered itself. It is what it is. If you can’t afford the payments then you can’t afford the payments. I’m sure you’d rather be employed and in a different financial position, but you just are not at this time.

The only minimum payment that will “satisfy” the collector is the one you can mutually agree to. You can’t just send a token amount and hope that it will forestall anything.

My advice would be to notify the collector about the discontinuation of the payment and if it’s not a problem, either change your bank account number or ask your bank for help on preventing any more automatic debits.

At some point we are going to have to deal with this debt and the collector might even threaten you with legal action if you don’t pay. But once you land a new job and have income coming in then we’ve got some options on what to do next. But until then, repeat after me, “It is what it is.”

Please post your responses and follow-up messages to me on this in the comments section below.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.
Damon Day - Pro Debt Coach

Steve Rhode

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