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Posted in Auto Loans
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budgetincome

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If I make monthly payments to an account in collection, can the creditor still file a law-suit?
My vehicle was declared total loss by insurance company. My insurance company paid off the majority of the balance, however, there was a remaining balance of $1,500.00. I have tried unsuccessfully to make monthly arrangements with the loan company. They have threatened to report me to collections. If that happens, can the loan company still file a lawsuit against me?

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Top Contributor
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If you send in some type of payment (reasonable offer) then their case would not stand up in court. Just start sending payments, write a letter stating that this is all that you can afford, until you can get more money.

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