First of all, a collection agency called me at home, and when someone else answered the phone, they informed them they were a collection agency and were "going to sue". Now, as I understand it, there are certain privacy issues-- they can't put up a billboard, nor can they picket your office-- but does this extend to not verifying the person's identity on the other end of the phone? Secondly, as I understand it, legaly if you make the threat you must be prepared to follow thru on it. What is the deadline-- if you say, "pay up or I sue" How much time goes by before the law decides that you never intended to sue in the first place? Also, must this threat be in writing, or does a verbal threat count?
Sticks and stones may break my bones But words will never hurt me Not to be glib about it, but that sums up what's going on here. The collection agency is trying to scare you into paying them. If you can't afford to pay them, you have two options: 1.. Work out a repayment plan with them directly or through a credit counselling agency, 2.. Declare bankruptcy. You have to evaluate what you can afford to do based on your personal situation. The tactics of collection agencies vary. Some are professional about it, others are low-lifes who would be engaged in some criminal enterprise if they didn't have any shred of a conscience. Don't let them intimidate you.
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