Owe Money Because I Broke My Lease

by daived

I broke my apt lease b/c I lost my job and moved to another state,and I wasnt able to buyout the lease .the apt send me a letter telling me that I owe $2800!.the buyout amount is $1200,but they added up late fee to the $1200,and then they refere the amount to the collecter .I can not pay this amount I am having a hard time finding a job .will they sue me? can I contact the apt manegment to arrange paying the buyout as a payment?

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Sep 23, 2011
Owe Money Because I Broke My Lease
by: Debtcollectionanswers.com.

There is no reason not to contact the manager for the apartment complex where you used to live, although the manager may refuse to deal with you since your debt has been turned over to a debt collection agency. Also, even if the manager will deal with you and is open to letting you pay off your debt over time, he may expect you to pay the $2,800 rather than the $1,200.

If the manager will not deal with you then contact the collector to find out if he is receptive to a payment plan. However, do not agree to a plan that you cannot afford because if you don't keep up with it, the plan will end and you will be expected to pay what you owe in a lump sum. If you cannot, you may be sued. Also, you risk being sued if the collector won't consider a payment plan and demands that you pay the full $2,800 right away.

If you do work out a payment plan, do not make any payments on it until you have the terms of the agreement in writing. Read the agreement carefully to ensure that it reflects your understanding of what you and the manager (or the collector) agreed to.

Another option is to try to settle the debt that you owe for less than the full amount. Again, if you are able to reach a settlement agreement, get the terms of the agreement in writing before you pay any money on it. It is likely that you will be required to pay the settlement amount immediately in one lump sum.

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