[JamieC]

Originally Posted by TRIGUY68X

Let's look at the first post. But, before that let look at my background. I have been in the credit and collection industry for 11 years. I started as a collections rep. for a credit card company and now manage a couple creditors at a large collection agency. I am in daily contact with collection attorneys and the largest credit card and finance companies.

Making a payment less than the agreed amount subjects you to negative fico scoring, late fees, increased interest, collections and legal issues into wage garnishment. The old urban myth that if you pay some thing and they take it you are safe is not true. It's still a breach of contract. Try sending the landlord 1/2 of the rent. eviction will soon follow. If you need smaller payments communicate with the creditor and they may work with you. The earlier in the default process the better. To clarify the myth about creditors accepting a payment as a satisfactory payment ... If you send a payment and it isn't posted to your account the creditor potentially voids the debt. They will and must post your payment, but it does not constitute an acceptable arrangement.

The credit card companies have all of the rules, laws and contracts in their favor. If you are truely in trouble Consumer Counseling is an option.

I am not here a representatve of the credit card companies. As an insider I am open to answering questions, especially those regarding collection agencies. I am not here to tell you how to beat them, sue them, or get over. I am here to answer questions on how to deal with them, point you to resources, clarify misconceptions and rumors and understand the mine field of consumer credit.

This is so true because I used to work for Visa and Mastercard. And by just sending them "something" doesn't cut it. Yes they won't turn away a payment but they have ways of locating you and if you made a payment arrangement with your John Hancock on it that's what you stick to. Just because a person is showing good faith by paying a little something instead of what's owed won't stop them from coming after you. You don't pay any amount you want to just because you feel like it. Can we all say "Accurint or Interactive411?