Latest Posts
Home > Ask The Get Out of Debt Experts > Can I Send a Token Amount to the Debt Collector And Stop Them?

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.

Get Out of Debt Free Hotline
debt settlement helpstudent loan help

About Steve Rhode

Steve Rhode
Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.
  • k8zplace


    I will negotiate with these folks.

    Thanx for being there and the hug!  

Get My FREE Get Out of Debt Guy Newsletter

It is the smart thing to do.

I promise to keep your email safe and secure.


I want to keep you posted each weekday with just one email about the latest get out of debt news, scam alerts and information to beat back debt.

You can unsubscribe at any time with just one click.

After you subscribe, check your email to confirm your subscription. If the confirmation email does not appear in your inbox in a few minutes, check your spam folder for it. Sometimes it likes to annoyingly hide there.

  • It will keep you posted on the latest scams.
  • You will be alerted to the latest articles.
  • You will wind up smarter than everyone else dealing with debt.