Sandy asked:
Live in Illinois. Lost my job 2 years ago (had been making a good salary, had just built a home and incurred debt which could have been paid had I not lost my job). Entered into a solid debt management program. We pay them one lump sum per month, they distribute funds to all companies each month. One of the cards was sold to another company and they will not uphold our original agreement with the debt management company. They are threatening to sue. We were late on our last two payments (because I took a new job with a slightly higher salary BUT had some up front costs that put us behind). We are BACK ON TRACK and paid this month on time. We have every intention of paying our debt and do not want to bail and file bankruptcy and leave the company high and dry. I can’t believe in today’s world with such a bad economy that the company wouldn’t be THRILLED to have us paying our debt (we owe about $2900 on that card). They have offered to settle the debt for $2000 to be paid by the end of the week. We said we CANNOT pay that because we have NO additional money (check to check). They told us to ask friends and family which is not an option. Should we just let them take us to court because we have done everything in our power to make this right? HELP!
Live in Illinois. Lost my job 2 years ago (had been making a good salary, had just built a home and incurred debt which could have been paid had I not lost my job). Entered into a solid debt management program. We pay them one lump sum per month, they distribute funds to all companies each month. One of the cards was sold to another company and they will not uphold our original agreement with the debt management company. They are threatening to sue. We were late on our last two payments (because I took a new job with a slightly higher salary BUT had some up front costs that put us behind). We are BACK ON TRACK and paid this month on time. We have every intention of paying our debt and do not want to bail and file bankruptcy and leave the company high and dry. I can’t believe in today’s world with such a bad economy that the company wouldn’t be THRILLED to have us paying our debt (we owe about $2900 on that card). They have offered to settle the debt for $2000 to be paid by the end of the week. We said we CANNOT pay that because we have NO additional money (check to check). They told us to ask friends and family which is not an option. Should we just let them take us to court because we have done everything in our power to make this right? HELP!