Negotiating payment amounts on a valid debt

by Geoff
(Nassau County, FL)

My son defaulted on an auto loan and his vehicle was repossessed. A collection agent is now hounding him for the alleged difference between the two amounts but it exceeds the original purchase amount of the vehicle. He is not disputing the debt but has limited income so he wants to negotiate a payment amount consistent with his income. The collection agent is refusing to work with him and is now contacting his new employer against his wishes. What, if anything , can he do to arrange a payment that won't make him homeless?

Comments for Negotiating payment amounts on a valid debt

Click here to add your own comments

May 09, 2011
Negotiating payment amounts on a valid debt

Based on what you have told me, the debt collector appears to have violated your son's legal rights under the federal Fair Debt Collection Practices Act. The law says that the collector can contact your son's employer to find out how to get in touch with your son (although the collector cannot indicate why he wants to talk with your son), but the fact that the collector and your son have been communicating leads me to believe that the collector knows how to contact him. Therefore, the collector has no business contacting your son's employer.

Your son should get in touch with a consumer law attorney in his area who helps people resolve problems with debt collectors right away (the first appointment should be free). Find out how to get FREE or low cost legal advice about debt collection from a consumer law attorney here. He may have grounds for a lawsuit. Please urge him to act right away.

Click here to add your own comments

Return to Debt Collection Questions.

Learn how debt collection laws can help you!
This website does not provide legal advice.
All information is for educational purposes only.
Copyright 2007 - 2021 by Mary Reed and Gerri Detweiler.
All rights reserved..
Read our Privacy Policy here. Do not sell my information.