Posted on July 1, 2009 at 5:24 am everything's tight financially, so i can only allot a certain amount to debt repayment. im still paying mortgage. 'haven't yet defaulted. my cards as well but i'm paying alimony and child support too. i want to know if a debt collector can refuse payment, i have been talking to this debt collector on the phone the whole day regarding an old debt--and i said that i cant pay the amount that he's stated, that i can only a certain amount, and that still depends on how much my pay check would register each month. the man said that if i dont pay in full within 15 days, im going to be served a lawsuit from his agency.

Posted on July 1, 2009 at 5:30 am Hi, no they can't, otherwise the debt is going to be considered waived (can somebody verify that?)Also, 5 days after that first contact, the collection agency must send you a letter containing the amount of your debt, the name of your creditor, and information on you right to have that debt verified.Sounds like you have just been threatened, as per FDCPA rule, collection agencies may not threaten you or even claim anything that pertains to legal issues.I think it's not a legitimate collection agency.

Posted on July 1, 2009 at 5:32 am I think they are under no obligation to accept payment that is less than the amount of the debt--but they can't refuse however much the consumer can afford to pay them and in whatever terms...

Posted on July 1, 2009 at 5:36 am i think so too, but I think it has to be agreed upon by both parties, in writing. i also don't think that they can't accept non-monetary payment, it has to be what was agreed upon on paper. this is assuming that the debt has already been verified--in the 13th floor's case..it doesn't sound like it's ever going to be verified.

Posted on July 1, 2009 at 5:43 am Hi, would you check the statute of limitations on your state? It differs per state but it's usually 6 years, after that, their right to pursue you in court, if ever, would have already expired.In the meantime, If he contacts you again, tell him that you are going to wait for their official letter in 5 days, if it doesn't arrive by then, ask him to stop contacting you again. Ask for their business name too and address so you can send them a letter asking the same thing, to not contact you again as they can't verify the debt, and also if you've found out that the statute has expired on that debt, include it in the letter. Once they've received it, they should cease from contacting you, if they still do, call the police.

Posted on July 1, 2009 at 5:50 am Just to clarify, I believe that you are referring to the Uniform Commercial Code (UCC) which has caused much confusion, as it is often interpreted as: when a payment offer is refused, the debt is wiped out. That is not the case at all, the code is referring to an official agreement between the concerned parties, that if the creditor/collector violates what was agreed upon (terms and amount) --ex. refused to accept what was agreed upon, then the debt is considered paid in full.Here is a quotation of the said code: U.C.C. - ARTICLE 3 - NEGOTIABLE INSTRUMENTS , PART 6. DISCHARGE AND PAYMENT § 3-603. TENDER OF PAYMENT. (a) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument, the effect of tender is governed by principles of law applicable to tender of payment under a simple contract. (b) If tender of payment of an obligation to pay an instrument is made to a person entitled to enforce the instrument and the tender is refused, there is discharge, to the extent of the amount of the tender, of the obligation of an indorser or accommodation party having a right of recourse with respect to the obligation to which the tender relates. (c) If tender of payment of an amount due on an instrument is made to a person entitled to enforce the instrument, the obligation of the obligor to pay interest after the due date on the amount tendered is discharged. If presentment is required with respect to an instrument and the obligor is able and ready to pay on the due date at every place of payment stated in the instrument, the obligor is deemed to have made tender of payment on the due date to the person entitled to enforce the instrument.

Posted on July 1, 2009 at 4:37 pm On a side note (but along these lines), if you are negotiating with creditors or collection agencies to settle your debt for a reduction of what is owed they can certainly refuse to accept a payment that you may be offering. Especially if your offers are for extremely low amounts, i.e. 0-10% of the current balance. In terms of the lawsuit issue- that sounds like an empty threat. Especially if it is a trhird party collection agencies. Most lawsuits that are filed against debtors come from attorneys' offices or from in-house attorneys that the creditors have on staff.

Posted on July 2, 2009 at 2:54 am Also, when he calls again, NEVER admit to the debt nor promise to pay for it, no matter how he threatens or convinces you to do so, because if you do, it might reset the clock on the SoL (Statute of Limitation)--that is, if it turns out that the collector was just incompetent, and the debt is, after all, legitimate..Everybody doubts it, but just in case..

Posted on July 10, 2009 at 3:16 am