I owe $8.8k in debt that’s already gone to collections. I lost my job and I’m barely getting by. The debt collector set me up with a payment plan of $450 per month, but I couldn’t pay the first installment because the money my friend promised me didn’t come through. I told the collector I could pay at the end of the month, but they’re not willing to wait. They said if I don’t pay within 2 hours, they’ll do what they have to do.
I don’t really know what kind of consequences I’ll be facing if I don’t pay in 2 hours. I’m worried and out of options. Any advice would be greatly appreciated.
Zeek said:
Are you sure this is a legit debt collector? A 2-hour deadline sounds like a scam tactic to scare you.
How can I find out if it’s real?
Check out Scammer Payback on YouTube. He breaks down how these scams work. Are they asking you to keep quiet or suggesting weird payment methods like gift cards, Zelle, or money orders?
Also, look at your credit report to see who actually owns the debt. If you’re going to pay it, make sure it’s directly to the company, not whoever’s calling you.
Have they sent you a letter? If not, or even if they did, tell them you’re disputing the debt and ask for verification. Get their company name and address so you can follow up in writing.
Alva said:
Have they sent you a letter? If not, or even if they did, tell them you’re disputing the debt and ask for verification. Get their company name and address so you can follow up in writing.
Their threats mean nothing. What are they gonna do in 2 hours, send people after you? They’re trying to scare you into paying. Negotiate and tell them what you can realistically afford.
Winter said:
Their threats mean nothing. What are they gonna do in 2 hours, send people after you? They’re trying to scare you into paying. Negotiate and tell them what you can realistically afford.
Winter said:
Their threats mean nothing. What are they gonna do in 2 hours, send people after you? They’re trying to scare you into paying. Negotiate and tell them what you can realistically afford.
I can’t pay until the end of the week or maybe the end of the month.
@Sky
That’s probably just them trying to scare you into paying now. They’ll take whatever they can get, but try to make payments when you can, so it doesn’t get worse.
Winter said: @Sky
That’s probably just them trying to scare you into paying now. They’ll take whatever they can get, but try to make payments when you can, so it doesn’t get worse.
They even said if I don’t have the money, I should ask my friends or family to help.
@Sky
That’s total BS. They’re just trying to pressure you. Debt collectors will take whatever payment you offer. Set up a plan that works for you, and don’t stop making payments once you start.
@Sky
It’s illegal for them to demand that you borrow money from others. Also, if they contact your family asking for payment, that’s against the law too.
They can’t enforce these ridiculous demands. And watch out if they’re asking for untraceable payment methods like cash or gift cards.
How long has this debt been hanging over your head?
Isn’t it wild how debt collectors act like they have way more power than they really do? We don’t even have debtor’s prisons anymore, but they try to make you feel like you’re going to jail.
Record all phone calls with debt collectors. Let them “do what they have to do.” They still have to follow the law, and you shouldn’t worry too much about their threats.
The worst thing they can do is sue you and garnish your wages once you get a job again. They can’t put you in jail for this. If it’s too much, block them.
Ashton said:
The worst thing they can do is sue you and garnish your wages once you get a job again. They can’t put you in jail for this. If it’s too much, block them.
@Sky
You might want to look into a non-profit debt management service like the National Foundation for Credit Counseling. They charge a small fee to help you set up a plan and work with creditors to reduce interest rates.
They help you pay the full debt, but if you’re already being sued, they might not be able to assist.
Be careful with debt relief programs—they have you stop paying your debts, which could lead to lawsuits and nonstop calls from collectors.