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Open ForumsThe Open forum was created for people to discuss anything else Non-Moto related. Just about anything goes! Please remember this is a loosely moderated area. If you do not have thick skin. We suggest you stay out of here.
i know they can tap a paycheck for dead-beat dads and drunk drivers, but can corporate conglomerations do anything to me besides ruin my credit history? I dont think they would spend the time/money to pursue this in a civil case.
Also, are there any government agencies that can help mediate this dispute? I can prove I'm in the right with their own documents and statements but they just wont fix their own problem.
Your credit will be ruined and they will take money out of your paycheck....
I've never heard of them taking it to a civil case and when I was a student I met a lot of people who had serious credit issues. Same with a cousin and friends sister.
They won't take you to court. They will sell the debt to a collection agency for pennies on the dollar, and they will take you to court.
If you are having a serious and legitimate dispute over a bill, and they won't help you work it out, take them to court. One word of caution though. Their lawyers are better than yours.
If its not a serious or legit dispute, I would suggest paying back the money you borrowed. They will fuck up your credit(rightfully so), which in turn will hurt your ability to purchase a home, auto, bike, boat, insurance rates will go up, etc...
They won't take you to court. They will sell the debt to a collection agency for pennies on the dollar, and they will take you to court.
If you are having a serious and legitimate dispute over a bill, and they won't help you work it out, take them to court. One word of caution though. Their lawyers are better than yours.
If its not a serious or legit dispute, I would suggest paying back the money you borrowed. They will fuck up your credit(rightfully so), which in turn will hurt your ability to purchase a home, auto, bike, boat, insurance rates will go up, etc...
+1000 and once the collection agency is done with you, the original creditor can still collect anything left on the debt and they have an army of people standing by to do this.
If you really think you have a legitimate issue and the creditor isn't listening, find out who in your local area can help you by contacting your local BBB, Action Line, or similar.
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it really all depends on your situation. Off the bat the bat they will not come after your pay check. My boy does collections for bank of america and he's on the 6mnth past due level. So you have plenty of time to try correcting things. He also said if people only knew you do not have to pay every penny back. They can settle for 10% of hwat you really owe.....the 10% is fictitious now b/c i don't know real numbers.....They will help you. Oh they will also call your neighbors and friends to humilate you
It's not just the government... Be sure and cancel your credit cards before you die. This is priceless, and so easy to see happening, customer service being what it is today.
A lady died this past January, and Citibank billed her for February and March for their annual service charges on her credit card, and then added late fees and interest on the monthly charge. The balance had been $0.00, now is somewhere around $60.00. A family member placed a call to Citibank:
Family Member: "I am calling to tell you that she died in January."
Citibank: "The account was never closed and the late fees and charges still apply."
Family Member: "Maybe you should turn it over to collections."
Citibank: "Since it is two months past due, it already has been."
Family Member : "So what will they do when they find out she is dead?"
Citibank: "Either report her account to the frauds division or report her to the credit bureau, maybe both!"
Family Member: "Do you think God will be mad at her?"
Citibank: "Excuse me?"
Family Member: "Did you just get what I was telling you --- the part about her being dead?"
Citibank: "Sir, you'll have to speak to my supervisor."
Supervisor gets on the phone:
Family Member: "I'm calling to tell you, she died in January."
Citibank: "The account was never closed and the late fees and charges still apply."
Family Member: "You mean you want to collect from her estate?"
Citibank: (Stammer) "Are you her lawyer?"
Family Member: "No, I'm her great nephew."
(Lawyer info given)
Citibank: " Could you fax us a certificate of death?"
Family Member: "Sure." (fax number is given)
After they get the fax:
Citibank: "Our system just isn't set up for death. I don't know what more I can do to help."
Family Member: "Well, if you figure it out, great! If not, you could just keep billing her. I don't think she will care."
Citibank: "Well, the late fees and charges do still apply."
Family Member: "Would you like her new billing address?"
Citibank: "That might help."
Family Member: "Odessa Memorial Cemetery, Highway 129, Plot Number 69."
Citibank: "Sir, that's a cemetery!"
Family Member: "What do you do with dead people on your planet?"
first they raise you interest rate to the default rate, usually just shy of 30%, they contact the credit bureaus, eventually if you dont file bankruptsy they will get a garnishment of your wages.
take care of your credit, you are going to need it.........
I think my best option is the BBB. Their 'customer service reps' are never authorized to do anything but give me the run around.
The problem is that they misapplied one of my payments, not to the statement balance, but to a transfer balance at a fixed rate. Now I'm accruing interest on the purchases as well as the transfer balance.
I've had disputes go to collection agencies. They harassed me for a little while until I learned the law. I settled with the company that I actually owed money to, then basically ignored the collection agency.
It really depends on the amount you're talking about - I just disputed the item on my report every month for a few consecutive months, and eventually the collection agency either closed or didn't respond in time.
Also, the BBB did indeed work out for a dispute I had with Citibank.
My recommendation is to get rid of your debt as quickly as possible and never use a credit card again.
My recommendation is to get rid of your debt as quickly as possible and never use a credit card again.
That is the best advice you will get.
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I think my best option is the BBB. Their 'customer service reps' are never authorized to do anything but give me the run around.
The problem is that they misapplied one of my payments, not to the statement balance, but to a transfer balance at a fixed rate. Now I'm accruing interest on the purchases as well as the transfer balance.
More than likely that is an error on YOUR part.
In the fine print that they gave you with your card that you obviously didn't read, it stated that the payments will be applied in a certain way. Chances are, if your account is set up with a lower fixed rate for balance transfers, then the payment will be applied to the transferred amount.
You have to remember, credit card companies are in business to make money...not to just let you buy things you can't afford right now...and one one of the ways that they make money is by applying your payment first to whatever the part of your balance is that will make them the least money in the long run. Then, after you get that paid off, they'll start applying your payment to portion of your bill that's going to make them the least money.
In this case, it's more than likely that they'll pay off your balance transferred amount FIRST because over time it will make them the least amount of money.
For example, your interest on cash advances is probably higher than on both balance transfers AND purchases...and I can almost gaurantee you that the company would pay off the cash advance LAST because it will make them the most money over the long term.
In short, do NOT just stop paying your bill. I made that mistake when I was 19...and it wasn't until just the other day that I was actually able to get another credit card with a decent interest rate. That's almost NINE years that I had to deal with less than good credit due to not paying that bill. I didn't pay it from the time I was 19 until I was about 22...then I finally settled with the company when I was 24. So it's been 4 years since I totally paid off the debt before I could get another credit card company to trust me.
My interest rate on my car loan is higher than it should be, my home financing is a bit higher than normal...all of this due to me fucking up my own credit by not paying that bill and letting it get completely out of hand.
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