Being stuck in the credit card debt can be quite stressful and strenuous for any person who is dealing with such situation. The credit card companies further infuriates and irritate the customers by making collection calls for the debt amount which the person is liable to pay. These calls can be quite embarrassing in the beginning but soon they start becoming harassing for any person as the collection agents no longer use the usual polite professional way for the repayment but resort to highly abusive language. The collection agents even employ threatening tactics to torture the clients and pressurize them to make payment.
The best legal method to deal with the debt situation and crisis is to employ debt settlement technique. You can eliminate your debt in a short span of time with the reduced debt amount. No more threatening collection calls from the credit companies. The credit card companies realize that if pushed beyond a certain limit, desperate debtors will file for bankruptcy. If a debtor files for bankruptcy, the credit card company will lose all its money because there is no collateral attached to a credit card loan. In the case of a debt settlement the creditors will be able to recover at least some of their money. This is the reason that credit card companies readily accept debt settlement deals. Hiring professional debt settlement agencies is the most viable and best option to become free from any liability as well as relief from the harassing collection calls. The main thing to keep in mind is that a debtor should not get cowed by the verbal bullying of the creditors and their collection agencies.
With the help of debt settlement agencies the debtor gets leverage over the creditor as now they can put forward their claims and negotiate the amount with the lender. Always remember that the only way to stop the collection calls from the agents is to eliminate your debt by paying it off and this can only happen if you stick to your payment plan and avoid incurring any further debts.
Meena Jha,is a lead Financial Trainer and analyst with Financial solutions is an organization that helps overextended consumers with manageable debt settlement plan. For more details visit: www.uscaonline.com
How to resolve my credit card debt issue? I am in a collection status, how can I deal with that?
An unexpected payment of $2,499.06 was posted to my Citi account on May 27th, 2005. The payment posted in error was corrected on the statement of 12/10/2005. . I was unaware of this matter until I was notified by Citi reporting my default on payment. At that time, I was in a debt consolidation program (American Debt Consolidation Inc.) which they consolidate my credit card debt and make automatic payments to my creditors. The debt consolidating program stopped making payment to Citi because they found that my balance was already paid in full since May 2005. That causes extra late fee and over-credit limit fee were billed to my account after my balance was adjusted on 12/10/2005. As of May 2005, my balance was $2,023.76 according to the statement of 06/06/2005.During that period, I was trying to contact my creditor to discuss the matter. I have already explained the issue to several representatives of my creditor. Unfortunately, no further progress was made till now.
I was trying to work with my debt consolidation program to resolve this issue. But it seems they are not very being active on this matter. I started to lose interested to working with them since it is very time consuming (they said it takes at least 3 month to send out the proposal and let the creditor to review it before making decisions). So I rather directly negotiated with my creditor instead. But I feel that it is useless to talk to customer reps because they are not authorized to lower my interest rate and elimate my over credit limit fee, pulse it hard to put the manger or related department head on the line. On the collection agency side, they are trying to help me with paying only 80% of the total debt. But I still don't think it is fair to me because it is my creditor's fault on the mis-posted payment at the beginning. My debt raises up to around $3000 with interest rate of 29% from May 2005 till now. My beginning banlance was around $2000.
Answer
Cant the American Debt Consolidation business help you with this since you were enrolled with them at the time and this creditor was on your list?
Plus, the credit card company should of informed the Debt Consolidation people of this mistake. They should of informed you that the debt was paid off since they considered it paid in full and quit paying on the debt on your behalf.
If not call the Consumer Protection Agency in your area, they will help you and will be a third party witness on your behalf. They are like mediators when there are desputes.
Just some suggestions
Good Luck
Dee
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lol no. and i wouldn't tolerate that. soap opera is right!