Ok first I am not a bad person and I pay my bills. My question is what will happen to me for not paying back my bank of america credit card? I opened this account and payed several months ontime , then one time my payment was 1 day late. Yes my fault. Anyway my min. due jumped up to about $400 a month, I struggeled with this for a cpl a months but could no longer keep up. So I sank. Now I am delq. I tried to send payment to the collections but nope they want it in full or two large payments. I cant cosollidate because you have to have more than one card and this was my first.
Update:The card was for $3,500 to begin with. (thats what I spent)Now it is over $6,000 that they say I have to pay. I would even pay that if they would just take a reasonible payment per month. I have called the bank and they tell me that its not theirs anymore that I have to call a certain number and when I call it I get collectione again and the wont even give me a adress to send money to. They want me to let them draft from my checking account!
Answers & Comments
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Call and tell them what you can pay. Most of them will try to be hard about it tell you they need it all today or something similar. They will tell you things to make you scared and believe them, but they can not do much to you besides messing up your credit. I once kept getting messages about calling a creditor or they would sue me. I got those messages for over a year, and they were for someone else not even me.
Pay what you can so you will at least show that you are making and effort. Also call B of A and explain the situation. If you are bad with confrontations, you can always make the call from a service like ip-relay.com. That is how the deaf and hard of hearing make phone calls and that way you do not have to hear the collector being mean, it is like typing on AIM or Messenger.
Call the bank and keep asking for a manager until you get one to give you the answer you want (ok, not that you don't have to pay, but for a REASONABLE payment/rate).
The last thing the bank wants is to write this off. When this happened to us (years ago), I called the bank, explained the situation, and they essentially turned it into a loan (we couldn't charge any more, had fixed payments and a lower interest rate).
Keep on them and don't let them try to dictate your payments. Only you know what you can afford.
Try calling them and seeing if they will give you some leeway.
If not, borrow money from parents or friend, which should be at a lower interest rate, and pay off the credit card immediately.
Credit companys and collection agencies are full of crap. You can pay them $1 a month and they can't do anything because you are paying them, it just looks bad on your credit report. I've had many say they are taking me to court you have to be just as mean and say you can give them some $ and thats it, I've gotten $3000 credit ballances down to paying $800 and it's paid off so just wheel and deal and be hard.
dont sweat it sugah.every bank i have ever dealt with is more than willing to set up a payment schedule.do you know that if you tell a bill collector not to call you anymore and they still keep calling you can sure them?? next time the collector calls tell them you will sue if called again.then call the bank and set up a schedule.people do it every day,its really no biggie.
It sounds like to me maybe the credit card company made a mistake. maybe they meant 40.00 . 400.00 a month is a lot of money. How much is your whole bill? Have you called them?
bill collectors are always willing to negotiate the payments, if they wont ask to speak to the supervisor.
No Sweat. Just give them what you can. Either way you still owe them money.