Capitol One called again last night

Capitol One called again last night and we were able to agree on a settlement but he refuses to put it in writing and mail it to me. He says once I pay the amount, the account will close and I’ll get a letter in 5-8 days saying the account has closed.

I don’t believe him.

DAve Ramsey says to get everything in writing before paying anything.

I found it while I was trying to find a group to help with decisions my hubby and I have to make in order to get out of the dark hole of debt we are in.

We found ourselves in a rut when my hubby broke his leg and ankle and was out of work for over a month after two surgeries to fix them. We were already on our way in the hole before the accident and it only made things worse. We were unable to make the minimum payments and the amounts sky rocketed. Then he was unable to go back to his previous line of employment and took about a 1/3 off of his income. So once we got behind we were not able to catch up on the income that he is on now. Going back to the previous line of work is not an option.

We are debating on bankruptcy (the one where we make payments) or trying to get a company to consolidate the credit card and medical bills into one payment. We are trying to find the pros and cons of the two. We now have bad credit and are unsure whether we can even get someone to consolidate. Our minimum payments on our credit cards are unrealistic because of charges that were added. Some of the credit cards were only $500 limits and are now over $1000 because of fees. They will not work with us to get them lowered, we have tried.

Can anyone give any suggestions or opinions on how we can get this figured out?

Right now I am trying to focus on our medical bills, about 18 different bills. We do not have insurance, because we cannot afford it and do not qualify for any assistance because we make $100 too much a month. We have had 4 broken bones in about a year and a half and are trying to get them all paid down. It is such a slow process.

This sounds like a sob story and I don’t mean for it to be. I am just trying to get it all figured out so we can get everyone paid. We really want to pay everyone, we just cannot seem to find a way past all of the built up fees.

Anyone heard of ARS/Ameriquest Recovery Services?

I had an account with Chase Bank with a balance of abut 6,000. I got WAY behind and this ARS starts calling me…The first call to me, the guy tells me that I had to pay at least 1,000 by 3:00p.m. that afternoon or I was going to receive a judgement letter(i think thats what he called it)…to appear in court. The thing that worried me is that my mother is also on the account. I explained that i could pay a reasonable amount each month but not large amounts. They start reading me my mothers credit bureau report and advising me that it looked to them that she could qualify for a loan or another credit card through some company called Beneficial. When I said “absolutely not, thats not reasonable”..they started telling me that I was not an honorable person and they would just call my mom. I don’t want that. My mom is in very bad health and even though her name is on the account, i want to pay it myself. So, they scared me enough to go to H&R Block and get my tax refund overnight and Western Union the bullies 1,000 so that hopefully they would realize I had good intentions to pay.

They accepted that of course but 2 days later start the harassment again. They are telling me they are NOT a collection agency. I just wonder if anyone else has dealt with these folks. Are they a collection agency or not? They tell me the “creditor” will only give me one more week to pay the balance in full. So, I asked if I could contact the creditor myself since and of course they said no. If they are not attorney’s or a collection agency, who are they?

They are relentless bullies! Also, I don’t think they had any business reading my mothers entire credit report…just because she is on the account..can they give me all of her info? Sorry for the long, rambling post. I would appreciate any advice as these people are scaring me to death!

ARS is a collection agency since they are not the original creditor. So you need to research the FDCPA and make sure they abide by it. They can tell you what they did to scare you into paying which you did. So lets learn real quick here that lesson one is to NEVER speak to a collection agency and never without a recorder for any reason.

Now for your mom – if she is on the cc then she is just as responsible as you and they can call her, pull her credit report, report negative information to the CRAs and even sue her. Doesn’t matter who used the cc. So you hopefully told your mom you re in a tight spot and fell behind but are making arrangements to pay this. Better to hear it from you than the CA.

Send a letter CMRRR from both you and your mom telling them to cease all phone calls to you at home and/or work and anywhere else and to only contact you by mail at such and such address. Also give notice that should they fail to stop calling you in violation that you are notifying them in advance that ALL calls to such and such numbers will be recorded for any future use in any federal and/or state court cases. This will at least stop the calls

Here is what I use:

You are not to communicate with my by phone at any number(s) you may have. You can communicate with me by mail at (address) only! Please also note my file that all calls to (phone numbers) are recorded for any future legal purposes.

This letter is intended to serve as legal notice and may provide a basis for complaints being filed in accordance with FDCPA, FCRA, attorneys general, Federal Trade Commission and other federal and/or state statutes.