Payment Plans

by Terry
(Calufornia)

I went through a forclosure in California, the second mortgage was charged off and sent to a collection division of the same company. I made arrangements to pay $200.00 a month and have been paying on time for the last 19 months. They just recently started calling again. Can they Change the payment on me ?

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Jan 14, 2012
 Payment Plans
by: Debtcollectionanswers

If you have been living up to all of the terms of your agreement with the company, there there is no reason why it should be trying to collect from you. I assume you have a written payment plan agreement with the company.

I recommend that you read over the agreement to confirm that you have not violated the agreement in any way and assuming you have not, I would then call the office that has contacted you to find out why they are calling.

If you have violated the agreement, then the agreement is probably no longer in effect, which means that the company could start trying to collect from you. In this is your situation, you could try to work out another payment plan, although the company will probably be reluctant to give you one; you could try to settle the debt (Listen to this debt settlement podcast to learn about how settlement works.); or you may want to consider bankruptcy depending on the amount of the debt, your overall situation, and so on. However, only a bankruptcy attorney can tell you if bankruptcy is an appropriate option for you.

If you are believe that the company is not entitled to collect from you and you not able to resolve the problem yourself, schedule a free consultation with a consumer law attorney.

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