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loveari54

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How do I fix from bad to worse to worse?
Yes. Naive and stupid. Not a good combination. In addition, I was raised in a military household so when asked to jump the response was how high. Back in the fall of 2008, when my credit was somewhere around 740, I ran into hard financial times which led me into trouble with a credit card. It eventually ended up in collections. Always wanting to do the 'right' thing (paying off a debt I incurred), I contacted them. First BIG mistake. They told me I now owed 10k due to interest...etc.etc. (which is why I contacted them...there was no way I could owe that much!!). They tried to bully me and me, not knowing they only pay pennies on the dollar to the original creditor, I agreed to pay what I originally owed...the 4K...which was far better than the 10K! I can hear you all now screaming. They told me once it was paid they would note 'paid in full' on my credit report. I now find myself unemployed and on the brink of not being able to make any more payments to collections. I have already paid them well over 2K which is probably now double what they paid to the original creditor. ADVICE PLEASE!!!!!!!

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Use your unemployement as leverage for negotiating a final payement. You can also suggest that you may have to file for Bankruptcy protectoin..... They will probably cut their losses.

Reply by
loveari54

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I would love to use unemployment...if I was collecting. This is why the situation has gone to worse:-(. My boyfriend of many, many years accepted a job out of state so when I left my job I was not eligible to collect. I tried but was denied. I would so hate to file for bankruptcy...arrgghhh. I am trying to remain optomistic and I am hoping at the turn of the year jobs may open up. Even though my boyfriend makes a relatively decent salary he has his own bills and obligations...believe me he helps where and when he can and he feels awful that I am in this situation and somewhat regrets making the move for the difficulties I am facing. Thank you for taking the time to respond and your words of advice:-)

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