by kevin

I made an agreement with a debt collection agency over the phone. I agreed to pay 200.00 month after getting demoted down from ast. manger to shift manager. I called the company and told them i can't afford the 200.00 so i went down to 100.00 a month. now at my job I am barely getting 30 hours a week. and i am having problems keeping my house hold bills paid. can I change the amount again? and can i stop them from taking the money from my checking account??

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Mar 17, 2010
can't afford payment to collection agency
by: Gerri


I am sorry to hear what a rough time you are having with work.

The bottom line is you can only can only afford what you can afford. You'll need to go back to the collection agency and explain that due to a reduction in hours you can't pay them $100 a month. I'd strongly suggest that whatever you do work out with them, you follow up with a written agreement. They may pressure you to continue to pay the $100 a month, but if you really can't afford it then stick to your guns.

I don't know how much you owe or what other debts you have, but you may want to at least set up a a free consultation with a bankruptcy attorney in case they refuse to work with you. I'd also encourage you to make sure you use our Free Debt Collection Worksheet to take notes when you talk with the collector, and read the first chapter of Debt Collection Answers online for free so you at least have an overview of your rights.

I will also add that in our ebook Debt Collection Answers, we recommend against giving a debt collector direct access to your checking account. It's simply too risky. Now you may have to consider closing your checking account and opening one elsewhere if the collection agency won't work with you.

Hang in there. I hope things turn around for you and your family soon.

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