Changing monthly payment amounts

by Velma Janette
(Royston, GA, USA)

If a collection/Attorney in charge of your previous deliquent credit card account only gives you a two year window to pay back a balance that is being automatically drafted from your checking account on a certain day of the month, and the person comes into a situation where they cant afford that high monthly amount and because of a loss in work hours or because they cant afford the high monthly payment for whatever reason, is it still mandatory that you still have to pay that same amount because the credit card collecting agency says that they cant change your monthly payment to a two year plan instead of the one year plan that your originally agreed upon? THis happened to me when my hours at work was cut and I wasnt bringing home what i had been, and they wouldnt work with me on a lower payment or extending the loan out over two years instead of the one year plan that i originally agreed upon. I was told that it had already been before the judge and that it couldnt be altered. It takes an entire week of work to pay my monthly payment of $453.00. Thank you for your time in answering my question. God bless you!

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Jun 06, 2013
Changing monthly payment amounts
by: Debtcollectionanswers

So sorry about your problem. If I read between the lines in your question, you were sued for a debt, the court awarded a judgment to the debt collector/attorney that sued you and the collector/attorney got the court's permission to take money out of your bank account each month. Given that your situation has changed, you may be able to make a case to the court that the amount being taken each month needs to be lowered. To do that, you should get the help of an attorney in your area who helps people with their debt collection problems.

However, given your situation, another option you may want to consider is filing for bankruptcy, which would stop all collection actions against you and possible wipe out all of your debt. We strongly recommend that you explore this option by talking to a bankruptcy attorney right away. To do that, call this toll-free number: (877) 248-2510. There will be no charge for this initial consultation. To learn about the bankruptcy process, go here, how to file for bankruptcy.

Best of Luck!

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