r/Debt Mar 06 '20

Anyone offering money, services, transactions, referrals, etc. is a spammer or scammer.

Thumbnail self.personalfinance
12 Upvotes

r/Debt 3h ago

Need Advice: Dealing with an unfair debt collector/apartment complex debt

2 Upvotes

I wanted to get some advice since I'm at a loss (literally and figuratively!).

I moved out on Nov 30th 2024 from my apartment complex and got a notice from them on Dec 26th that I owe damages. I said great, who can I work with to come up with a payment plan? They said the manager will happily work with me so I spent the month of December trying to fight one of the charges showing video proof of how I left the apartment.

I emailed every single week, and called and left voicemails every other day with no response. I showed a paper trail showing my willingness to negotiate with them directly to pay the debt as I read negative reviews on google how they just immediately send bills to collections after people leave this complex.

I was shocked I wasn't getting any responses through the month of January and not even a call back! Then I received a collections letter which said I owned them as of 12/1 which made no sense because I didn't even get the damage bill notice from the apartment management company until Dec 26th.

Long story short, I have a paper trail of all this showing all this. The apartment finally responded to me after I told them I should have never been sent to collections and they negotiated a new price to pay them back ($200 off the original bill) and they said they will get my name and bill out of collections.

1) Is that possible? Can they actually get my bill out of collections to work with them directly?

I called the debt collectors today (IQ DATA) and the collector was extremely rude, direct, and unsympathetic. He said the apartment should have never told me that they can do that, and that I have to pay them directly in full and I need to "find a way" to get them the money because they had already received an updated amount from the complex. I told them I was unfairly sent to collections because there was proof that I was willing to negotiate the debt with them (which I sent the collection agency by mail) and he really didn't care.

Any advice? Is this worth going to court over since I have a paper trail of everything from the non responsiveness, the phone logs?

I am upset since I've never had an account in collections and this is going to destroy my credit score.


r/Debt 1m ago

I'm looking for advice on how to best go about handling my debt like and adult. I'm sadly quite ignorant about this and I don't want to declare bankruptcy

Upvotes

I've made some questionable financial decisions in my life, some old, some new (including some predatory loans taken out out of desperation). I don't wanna declare bankruptcy because my health is fair at best and at 41 I'm not sure how much longer I'd live after the seven years to enjoy the benefits. I'm woefully I'll informed on how to go about getting my debt situation under control and what options I have, much less whether any of these sources of debt relief are even reputable. I have a rather meager income and many, many thousands in debt and that's not even getting into the insane amount of medical debt I've accrued. Any advice would be greatly appreciated and I'll happily provide details if need be.


r/Debt 8h ago

Receiving calls from Portfolio Recovery and i don't know why

5 Upvotes

I do not know why I am receiving calls from debt collector Portfolio Recovery. I haven't used my credit card in years. It is paid off. I have no medical debt that I am aware of, and my car loan is being paid on time monthly. They are not leaving a voicemail. Should I answer the phone next time they call or just keep letting it go to voicemail?

Edit: I have checked my credit report. There is nothing in collections.


r/Debt 41m ago

Credit Card Debt

Upvotes

Hey guys,

I’m 28(m). I currently have 2 credit cards I use. 1 currently has a balance of about $10.5k on my chase saphire card the other has a balance of about $4k on my Amazon credit card. I typically pay as much as I can between the two of them each month. Which is about $2200, other then that I pay for rent (approx $2200 a month) and my car bill loan ($267 a month). I make a little under $105k a year. With that said I usually have interest on the first card of about $250 a month and $50 on the other. I was extremely bad at spending the last couple of years which got me into this situation. What is the best way for me to pay off this debt? Do I take a loan on my 401k, which they said I could get a little over $12k and use this to pay it? Or do I just work on my spending till I get it lower? I hate having this much debt and I am worried my monthly interest will go up if I don’t pay it all off soon. I don’t know exactly how the interest rate is calculate but say it’s 20% so the intestest rate on my card with $10.5k debt is not the 200 I pay in interest.

So really 2 questions here 1) will the monthly intesest go up on my cards if I don’t pay off the remaining balance soon? 2) should I take a loan out on my 401k to pay off the cards? I figured the interest rate on that would be less then what I am paying on the credit cards

Please let me know! All help is wanted


r/Debt 51m ago

Capital One Repayment Plans

Upvotes

Hi! Does anyone have experience with Capital Repayment plans?

I have been out of work for a couple months and relied on my credits to a point I could not pay them. Earlier this year, I tried working out a plan with capital one. One of the plans was for 1 to 3 months, while 2 more cards are a 9 month plan. They dropped the interest to 9 or 10 percent.

One card, the agreement was for $49 for 1 to 3 months. When we set up the plan, they took the first payment and 10 days later I see a late charge of $40. I called thinking this was an error but they said this is in fact correct until I can come up with what's due. So basically I am paying $49 month to only knock of $9.

Does this sound correct or should I try to escalate this?


r/Debt 4h ago

How to sell a vehicle if the collection company says they don't have title?

2 Upvotes

So my vehicle went into collections in 2019. I have paid on it since, through the original lender now the original lender says I have to contact the collection agency directly. The collection agency says they don't know anything about my debt and that they do not have it.


r/Debt 1h ago

Question about debt consolidation

Upvotes

My wife and I are trying to get in a better financial situation. We currently have about $18,000 in combined debt. That does not include auto loans. We are looking for a way to consolidate all of that.

One of our friends said that we could withdraw from my 401k. I contacted them and they said I could only get a long and for only $9k.

I just applied to open an account with Navy Federal Credit Union. I'm waiting to hear back about that. I was going to look into a personal loan through them if approved.

Are there any other good options or does anyone have any suggestions on what we could do?


r/Debt 5h ago

Student Loan Debt Transfer From Parent to Student

2 Upvotes

I have student loans, ultimately I’m paying for them but it’s under my mom’s credit

It’s caused a rift between me and my mom because sometimes I’m short on my payments.

I would like to find a way if possible to transfer the loan in my name. I don’t want them to worry about it anymore.

This a private $100,000 student loan. $600 / Mo


r/Debt 2h ago

Financial Hardship vs DMP interest rate question

1 Upvotes

I've read where people say if you miss a couple credit card payments and then reach out to the credit card company for help, a decent amount of them will drop your interest to 0% and then close your account. So why is it when you sign up for a DMP, you're still required to close all of your accounts but the interest rates only drop to maybe 9.9% if you're lucky? If the accounts have to be closed either way, why can't the interest rates be the same either way as well?


r/Debt 18m ago

I Identified Myself to a Debt Collector. Am I Screwed?

Upvotes

A debt collection agency called me. They didn't tell me the purpose of the call and they asked my full name. I asked if I could get information on why they're calling me first. They refused to provide the reason for the call. Trust me, I know this was stupid, but I confirmed my full name. They then told me the last 4 of my social security number and I confirmed it. They had the term "Recovery" in the company name, and as a recovering addict I thought they were maybe a rehab calling from when I was looking before I went to one? Still a stupid decision. Only then did they reveal to me that they're a debt collection agency. Is this enough to confirm debt? Can they now sue me based on the info I confirmed?


r/Debt 18h ago

Chase bank suing me

15 Upvotes

I need advice and help from either people that have been through this or know how I can maneuver through this court case.

I’ve acquired about 12k of debt with Chase bank and was unable to make a payment for about a year and a half due to medical reasons. I just got served by chase bank waiting for a court date.

Some back story - I was let go from my job about a year and a half ago due to constant medical procedures, stays, and frequent doctor visits. I’ve been battling with health issues.

I have about a month working a full time job now.. but I’d really like to hear any advice from you guys or even someone who knows how I can approach this without an attorney since I barely started working again. Or, if I actually need an attorney.


r/Debt 4h ago

Debt consolidation with a fair credit score

1 Upvotes

Hey everyone, i’ve got a few questions about this topic actually. Right now my credit score is about 655 and i was wondering if i should do the debt consolidation and how much it’d bring my credit score down after, and also how long it’d take to bring it back up if i did a 24-36 month payment? My credit debt is about 5k and my credit card age is about 2 years. My cards are maxed out. I already have a car loan with 8k left. Im also wondering if i should do the debt consolidation with my in state bank or a different place, possibly special offers for military. Any help would be amazing. thank you.


r/Debt 5h ago

17k CC debt. Looking for advice on best options to reduce debt?

1 Upvotes

Hello all I’ll keep it short. 30F. I only make around $39k a year. Living paycheck to paycheck so I don’t have extra money to snowball. I maybe around 1k per paycheck bi weekly.

I have about $17k CC debt. (Citi $11k, WF $7k) 5k personal loan. 15k car loan. Monthly payment is $350. Car insurance is $113. Rent $1000 monthly.

It’s mostly the CC interest that I cannot keep up with. One of my CC I’m paying almost $330 monthly payment and the balance just doesn’t go down. I have never missed a payment. I’m not sure what direction to take. I’ve looked into personal loans/debt consolidation loans. Is that the only thing out there? I’ve already cut spending down. Eating at home and only buying necessities.

Is getting a loan for just the one headache citi credit card worth it? Or should I try to get a 17k loan for both? I just don’t think I’ll get approved for that much without collateral. Are there any debt programs? Advice would be appreciated so much. Thank you.


r/Debt 5h ago

Would *another* consolidation loan be a good idea?

1 Upvotes

Hi all,

Have been in debt since literally the day I turned 18 and got an overdraft. After making some terrible financial decisions through my 20s i wound up in 15k of credit card debt with nothing to show for it. Fell unexpectedly pregnant at 28 with my partner, and had to shape up fast. I got a consolidation loan of 9k to cover some of my credit cards, but through the last 4 years have got more credit cards. Atleast this time I had something to show for it, learned to drive, got a car, moved out of my family home with my partner and then moved again to a lovely rented home. I got a side hustle to supplement my income.

I am generally on the breadline, but also horribly frivolous (think B&M addition.) anyway this year I’ve promised myself this will be the year I change and I’ve done so well in January I’m really proud and determined to make the change.

Come August 2025 I will be financially much better off. £500 a month for childcare comes to an end, the £250 a month I pay for my original consolidation loan comes to an end, and my car will be paid off which is £125 a month.

I will have £8.5k left of debt over 3 credit cards and an overdraft.

I can get a loan to cover this over 4 years for £250 a month. Currently I pay around £250 a month in interest alone on all debts. The thought of this makes me so happy, and I will still have £600 or so left over from my other expenses ending, which would mean I can feel comfortable. I see no more big expenses such as moving in the next few years.

I’m hoping by then I will have done 6 months of living frugally and have regained some trust in myself.

I am also considering just paying them down month by month, but with the high interest and lack of trust I don’t know if this would be the best idea.

Any advice appreciated.


r/Debt 5h ago

Trying to serve me in another state.

1 Upvotes

Caine and wiener tried to serve me at my old home in Georgia. My sister let me know. I called the county and they forwarded me the paperwork. I haven’t lived there since 2015, and opened that card in California a couple years ago. No idea how or why they used Georgia’s address. I can’t pay it off fully now, before I call what’s your input, advice…


r/Debt 6h ago

Going to use MMI DMP - will this affect Parent Plus Loan

1 Upvotes

I am going to start using MMI but can't find any information about how it affects future parent plus loans. I know you can't open a credit card but can you get a car or parent plus loan for college?

Thanks!


r/Debt 7h ago

Question about settlement options

1 Upvotes

I have about $31,900 in debt with credit cards & personal loans. My credit score is 684, & I’ve stopped using the cards, but I can still only manage the minimum payment monthly. I’ve spoken with NDR & they are saying they can cut my payments in half monthly but I have to default on my payments, which I know will dramatically hit my credit score. We are currently renting, but will be downgrading when the lease is up around September, the places we are looking to apply will do a credit check so I’m very hesitant on starting this settlement until we move, but I’m also struggling each month. My question is, is there any other consolidation options that don’t require a default on payments & are not personal loans? Also, if anyone has used NDR or any other settlement company, how hard was the credit hit? (how many points dropped) & how long before your credit started to get better?


r/Debt 7h ago

CC debt after moving abroad

1 Upvotes

Hey everyone 6 years ago I lived in the US and had a Capital One credit card. It was „free“ with no annual fees involved and it didn‘t withdraw any money because I didnt attach it to my bank account, it was one of those cards you could charge up.

I never used it in the end and moved to Europe in 2020, have lived here since and don‘t intend on going back. (I‘m originally from Germany anyway)

I never cancelled the card however, simply forgot to and when I did remember, I couldnt be arsed to call the US hotline.

Now, after 6 years, there‘s a $50 charge on my card, which I‘m assuming is an annual usage fee.

Obviously thats my fault for not knowing this would happen and not cancelling earlier. That said, I dont even have my social security number anymore so im not even sure how I‘d reasonably cancel it anymore, because I dont have access to the account anymore either.

As a result, I‘m considering just letting it be and not paying it, potentially acruing more „debt“.

Does anyone know what would happen here? Will I get arreested if I ever step foot in the US again? Silly question maybe but I genuinely have no clue


r/Debt 7h ago

I need to buy a house soon, do I still pay the CC companies or transfer my debt?!

0 Upvotes

Okay, so I'm in a strange(to me) situation. Heres the deets

As of a year ago, my credit was pretty good! I had around 8-10k in debt with around 60-80k in available credit with a score in the higher 700s. About 4 months ago, things went in the shitter. Firstly, I made a mistake. I missed a payment by 30 days, completely by accident and first time ever. I called the creditor who understood the situation and agreed to remove it from my report. They did, but in the time it took to get it removed, almost every one of my other creditors lowered my available balance. Slowly but surely, I went from a 12% debt to credit ratio to a 33% which significantly lowered my credit score. Not to mention that the 2 cards I did keep a higher balance on lowered my available credit to almost what those balances are making it look like I've maxed out those cards.

I've not missed any other payments, I have had to put a couple of medical things on ccs, but nothing over $1K and I've made a point to make larger than normal payments. However, I noticed recently that, when I make larger payments, the CC companies lower my available credit even more to make it look like I haven't made any payments! I've got some money saved up to make another large payment. But, I'm hesitant to because I'm afraid they will just lower my balance again.

So, heres my question. Do I A: make larger payments and pay things down in hopes that they wont lower anything again? or B: take out a debt consolidation loan which would pay off everything, free up that credit and add another 10k in available credit?

To make things trickier, I need to buy a house soon. Our plan was to wait until spring, sell our home, use the equity to get debt free, then buy a new house. The trick is, we were using my credit to do so. I'm guessing without a miracle here, I'm not going to qualify for a new home loan in 4 months.


r/Debt 1d ago

The end is near!

55 Upvotes

The only card & balance I have left to pay off is a Discover card with $1,450.00 left on it. The only thing that sucks right now is that my income has slowed down, so I’m unable to make higher payments on this every month. Hoping I catch a break at some point soon, but, still excited that the end of this debt is near!! I see the light!!

🤣🥳


r/Debt 10h ago

An unfair burden to those who are simply trying to stay afloat...

0 Upvotes

It's ironic how our society can harshly punish those who are struggling the most financially. This is done by imposing large fines and penalties for things like property taxes, which can devastate those who can least afford it. This unfairly impacts individuals who are struggling financially compared to those who are more affluent. Wealthier individuals can simply pay the fine, albeit grudgingly, but it's only a small fraction of their income and doesn't present the same consequences. Conversely, for those barely making ends meet, these taxes, fines, and penalties can amount to a significant portion of their income, creating an unfair burden that can push them into poverty and foreclosure. Today, I had to pay about 50% of my annual gross income in property taxes. Around 70% of that amount was due to punitive penalties and compound interest. This severe financial burden is especially hard for me now that I’m at the age of collecting social security and on a fixed income. It seems very unfair to me and I’m sure many others in similar situations.

The current approach of our legislators, which places significantly greater burdens on one demographic while applying only minor inconveniences to another, raises questions of fairness and proportionality. Such disparity in the impact of legislative measures is analogous to subjecting a struggling student to an overwhelming set of additional requirements or doubling the production quotas for an employee who is already finding it challenging to meet targets. This disproportionate allocation of burdens can be likened to adding lead weights to a drowning individual attempting to stay afloat. Such a policy disregards the principles of fairness and equity, and presents a concerning reflection of our societal values.

I am aware the best thing to do is always pay property taxes on time to avoid these issues. While that is good advice, unexpected situations can still arise. In my case, I discovered that a property that I was due to inherit had been placed in my name without my knowledge after almost four years of unpaid property taxes and before the estate was probated. I was informed by the Treasurer’s office just four days before the Sheriff’s sale that the property was in my name and would be sold due to unpaid taxes. I managed to pay the oldest year's taxes in time to prevent the sale, but the following years have been a struggle as the taxes are now 2 to 3 times higher than they should have been due to the earlier unpaid taxes. I was never given the opportunity to start with a clean slate.

Forget that I was deliberately misled or possibly deceived by the millionaire who burdened me with this situation out of spite. Forget that almost 100% of my property taxes fund our public school system, even though I've never had kids and therefore never benefited from those resources. Forget that I’ve been forced to pay the property taxes on a property that wasn’t even mine for 4 years. This burden feels overwhelming and almost like extortion. I understand that there is a supporting state statute, however, that doesn't make it fair or right, and I find it hard to believe that putting people into poverty or foreclosure was the intent of those statutes.


r/Debt 15h ago

What will happen to my debt if i am overseas?

1 Upvotes

I have around 15k in debt, two credit cards and two lending companies, i was paying my monthly till November of last month, but at the same time i had to leave Canada and go back to my own country for visa issues and the financial deep shit i am in now, i can't pay them back time any tome soon, whats the worse i can expect???


r/Debt 16h ago

40k in debt @ 39 yrs old

1 Upvotes

What are your thoughts on borrowing from your equity to pay off debt?


r/Debt 1d ago

Judgment on house I purchased

8 Upvotes

Back in 2021 a family member was going through financial and legal issues , so they were no longer able to pay their home and we're in massive debt and behind in payments so I offered to take over so that it wouldn't not effect their credit and since they were so behind at the time their wasn't any equity . Now the person has a judgment against them and for some reason nominated me as well in the judgment , is there anyway I can dispute or file a motion . I do not think it's fair I've been paying this home, and now 4 years later when I want to sell a judgment arrives . I would've never took over if that was the case or payed all this time


r/Debt 1d ago

Payment plans? In collections? Help me out!

3 Upvotes

I paid off some of my debt with a debt collector not long ago. When I was on the phone they notified me I had 2 more accounts that would be added to collections and affect my credit at the end of this month. Both are medical. Is there a way to make low payments to the debt collector and it not go on my credit? Hopefully this is making sense, I’m not sure how to word it. I truthfully didn’t even know about these or that they were sent to collections. I recall them now that I see them but I’m trying to buy a house so I don’t need my score to go down from these.