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LegalKnowledge, Attorney
Category: Legal
Satisfied Customers: 27594
Experience:  10+ years handling Legal, Real Estate, Criminal Law, Family Law, Traffic matters.
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My husband got very sick and was out of work. We were

Customer Question

My husband got very sick and was out of work. We were falling behind all of our bills. I used all of our savings to try and keep up with our bills. I refinanced our home for a lower payment. I made arrangements with credit card companies to close our accounts and pay a flat amount every month with extremely low or no interest. One account is for more than $8400. We pay only $72 a month till 2025. Another account was for $200 a month which was taken out automatically from my bank account. For some reason on this account they stopped taking the payments. Approximately 4 months later we were handed papers that said there was a judgement filed against us in the Superior Court of NJ. I signed a settlement agreement for $1338 a month for 1 year to pay the debt off. I don't know what I was thinking: I got scared. I knew we could not afford that amount but I didn't pay some other bills just to pay them. I only paid it twice and then called them and said I couldn't do it. They were very nasty and said well then they would have to go through with the judgement. Then the person on the phone said she would try and get it lowered. She lowered it $1000 a month.(wow). Again I paid it only twice. My electric and water was going to be shut off. I needed to pay $1500 for our utilities. I have to call the again but I don't know what to say. Do you think I can have them lowered again? We are trying; I want to pay them but I just can't afford that much money. I still see the statements and can make payments online and the minimum payment says $138.00 due. Why do the collectors say I need to pay so much? What will happen if I just continue to make the payments online? Do I need to call their legal department? Please help!
Submitted: 1 year ago.
Category: Legal
Expert:  LegalKnowledge replied 1 year ago.

You can certainly call them up again and explain your financial hardship. However, you need to tell them what you CAN pay, not what they want to hear or else you will be in the same situation in a few months. You want to convince them that it is not worth suing, since you have nothing for them to go after and it is better for all parties to agree on a monthly payment plan. it does seem odd that the account is still open and they only ask for $138 a month, since you could have been paying that all this time, which is much less then the $1000. As such, they may reject or return the payment if you try and make it. You do need to call their attorney, who is handling the case, to try and work this out to prevent them from proceeding with the lawsuit and filing suit and getting a judgment

Expert:  LegalKnowledge replied 1 year ago.

I just wanted to follow up and see if you had any other questions or needed me to clarify something. I am here to help, so please let me know. Thanks!