We are totally on track to be debt free in a little over four years. Thanks mostly to the balance liquidation programs we are on. But just as we are making head way and are beginning to see a way to pay extra towards our credit cards we get hit with something else...more debt.
We had a CareCredit account that we used for extra expenses when we were having infertility treatments and like many of our other credit cards we fell behind on our payments. We owed a relatively low amount compared to our other credit cards. Right around $3,000, but we ended up letting the account go, which was now a big mistake.
With the general low amount it wasn't like we really wanted to have the card charged off, we just had bigger fish to fry and actually forgot about the account. We are now faced with a big fat stupid tax fee.
CareCredit charged off the account and sold it to Persolve, LLC AKA Account Resolution Associates. Persolve ironically means "to pay in full" and pay in full and then some is indeed what we now have to do. We began getting calls from Persolve a couple of weeks ago. They finally called on an evening we were home and we took the call. It wasn't like we were hiding. We really want to get our debt paid off and work out some kind of deal.
Initially the collector was very nice and seemed to really want to help, but shortly after a few conversations he turned into a big fat part of the male anatomy. His initial discussion offered payments of $200 a month, but are now at a final offer of $300 a month. No reduction in balance, no lower payments, no nothing. He even came back with a judgement ready to be filed, which he immediately faxed to us and was about to file it. So now not only do we have to pay the $3,000 balance we once owed, we will have to a total of $4,050 in payments.
If you have an opportunity to settle with your creditor do it before it goes to some out of control collection agency. In my case I am already over $100,000 in debt, what's a few more thousand? Yeah, right. This sucks.
photo via (andebtnegotiators.mymultimedia.com)
[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]
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