I owe $550 but i'm too poor to recompense?
I owe $550 in medical bills I'm suppose to clear $108 every month. I'm too poor to pay $108, so final month I only payed $54..as a result I presently owe something like $216 this month, and they sent me a memo saying if i dont pay envelope them the $216, they'll sent my account to collections.
i already told them I can single afford $54 but they keep scolding me that if I dont wage them at least $108 a month, they'll convey me to collections. my question is if I keep hold of paying them $54 a month, I know they can sue me.. but for $550, will they bother going into the whole collections process for with the sole purpose $550?? and I AM paying them regularly every month..!? what do i do?? im so poor right now !
and what happen exactly when my account go to collection?
Answers: just transmit them when your financially stable you will call them. I owe a heck of greatly more then that and nearby is nothing I can do any. I have never be sued so don't lose sleep over it!
I see Getting Married, the self admitted debt collector is out within force today.
Here is the deal. First this is a medical company so they are roughly more reasonable and inclined to negotiate. Second, they lose money by sending you to collections, so as long as you are making an honest effort it would be counterproductive for them to do that. Now that's not to voice that there aren't knuckle head companies out there who would do that sort of point, but you get the point.
Call and tell to someone else, maybe a supervisor. Explain the situation and product it clear you will pay adjectives that you can. Document everything including who and when you spoke to and what the conversation entailed.
If they state the will distribute you to collections, no questions asked, in need paying the $216 then I would simply not salary them at all that month and set the money aside. Then they will any reconsider and start working next to you again, or they will send it past its sell-by date to collections. In essence you can punish them for their unwillingness to work with you.
If they do distribute it off to collections, your rack up will take a hit for sure, but we can work around that. Remember that money that be supposed to go to them that you set aside? Keep setting aside what would hold been your monthly costs, and when the collection agency calls you propose them half of the total go together in a lump sum contained by exchange for a written agreement from them to delete the item from your credit report. Chances are they will happily adopt, since they probably bought that debt for less than 10 cents on the dollar.
Also the likelihood of being sued for $550 are slim to none. It's really not cost significant for a collection agency to sue unless the balance is over $2000, since getting judgements and enforce them can get expensive at a rate of knots.
That would leave you paying smaller quantity than you actually owed near credit intact - WINNER
Collection agency makes an straightforward profit for very little work - WINNER
The medical company take a loss for not working beside you - LOSER.
Read these links on debt settlement and negotiations, the information is excellent and could come within handy for you.
http://www.creditinfocenter.com/debt/set...
http://www.creditinfocenter.com/debt/neg...
How can you raise your credit score?
Answers: No company can raise your credit score. Only time can do that, so don't pay any company that says they can. They're lying.
The best they can do is try and talk to any creditors about removing some of the bad marks on your report (which creditors have absolutely no obligation to if they're accurate) or offer advice.
Otherwise, like I said, only time can erase the previous damage. Good things for you to do--
-Pay off debt ON TIME
-Pay off any outstanding loans (uber-important)
-Don't take too much credit at once (you don't need 30 credit cards)
-Don't max out your credit every month
Pay your bills on time.
If you are carrying credit card balances, pay them off. Carrying balances of more than 30% of your available limit, kills your score.
Otherwise, it just takes time. There are no magic tricks.
There are actually ways that you can improve your credit score immediately. As a loan officer for National city, I actually have a program through the credit company we use that may be able to help you. If you are using your credit to buy or refinance a house, this might be an option for you. We just have to take a look.
casey.casperson(a)ncmc.com
Here are just some of the helpful guidelines in increasing one’s credit score:
Avoid applying for credit much too frequently
Always pay all statement of accounts on time
Avoid high outstanding balance
Catch up on missed payments
Avoid closing unused accounts or credit cards
Discipline is an important tool to maintain a good credit score. Increasing one’s credit score takes time. It can’t be quick and instant.
To raise credit score
1. Always pay on time or ahead of time.
2. maintain low balances on credit cards
3.To boost your score: Don't charge anything for at least 60 days before applying for a loan
4. keep your total potential debt to earnings load low - If you have a card with a $15000 credit line, you may ask them to reduce it to something more realistic, like $5000.
5. You should have a recent history of both installment or term (Car or house loans) and revolving credit.
6.To boost your score: Don't close unused accounts when you transfer debt.
7.To boost your score: Consider opening another credit-card account or two, or taking out a car loan or small bank loan.
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http://www.bestcreditrates.net
Pay your bills on time.
What is an unsecured credit card..? are they safe--?
Answers: no security interest involved.you are not putting any collateral to back the card.yes,they are safe
If you are looking for a credit card for bad credit, there are many options to choose from. The two main types of cards available are either a secured credit card or an unsecured credit card for bad credit. Both types of cards can help you repair your credit by giving you an opportunity to establish a good payment history. The costs and fees associated with each type of card are very different, however. In addition, depending on how bad your credit is, whether you have sufficient income and other personal details, you may only qualify for one or the other.
First let's look at the secured credit card for bad credit. A secured credit card requires that you deposit money with the issuing bank, and the bank will issue a credit card in the same amount for your use. Secured cards are guaranteed to be approved, because the bank has your deposit money in case you do not pay your balance. A secured credit card for bad credit operates much like a regular credit card. You receive a monthly statement, and you pay your minimum monthly payment or the balance in full each month. You are charged an interest rate, annual fee and possibly other fees for a secured credit card account.
Read more from: http://www.credit-card-gallery.com/artic...
Secured credit card = credit card in which the borrower has put up collateral (cash deposit or property) to guarantee to the bank: "If I default on this loan, you keep the collateral)
Unsecured = You get a loan without putting up collateral. This is riskier for the bank (they might not get their money back)