Paying back debt collection agencies...

[Josh111]

I owe money to a collections agency (MCS) and pay them 'x' amount each month. Does anybody know if I can arrange to pay them less each month although i havent changed jobs or accomodation, etc. I predict they will get a little shirty and say that i cant do that. Although my situation hasn't changed, what I pay them at the moment is just a little too much for me, in consideration of other outgoing expenses, and was from the start. any help appreciated! Thanks all!

[beck07]

I am in the same situation and i have recently had to lower my payments due to ahving a baby who takes up most of my money as they do! If you gave them a call and said maybe your work hours have been cut and would like to lower your repayments due to loss of earnings, i know its a little lie but they wont look in to it- they are happy as long as they are getting something!

[Josh111]

Thanks for the tip!! Might take you up on that!! Thanks a lot!

[banjosister]

Hey Josh,

recently helped my son out in this situation. WRITE to your debtors advising that you are having severe financial difficulties. Tell them you can afford to pay X amount per month and when they payments will start. Ask them to reply in writing. Make copies of your letters and send them recorded delivery so you have proof of posting. If they phone you tell them that you do not wish to discuss it over the phone and to please put it in writing.

Do not get drawn into a converstion with them. I was shocked when my son told me his bank would ring them first thing in the morning and demand a breakdown of income and outgoings. You do not need to give them this information.

BB xx