Hello.

Today has been stressful in the world of not having enough money to pay bills land.

When I deposited my paycheck, they had charged me for 5 overdrafts – total $150.00. I “thought” I had money in there -so I bought a pound of coffee at Starbucks, for $8; a hairdryer at Walgreens, on sale for $12.99; some dinner at Trader Joe’s for $18.31; and two ATM withdrawals for $20 each. Total expenditure for the items would have been $80 – cost for me being an idiot tripled that. I think I am posting this as a statement to the world _I WILL STOP GETTING OVERDRAWN. As of today, I am solvent.

Then a collection agency called.I denied being myself (it was at work and I ansewered.) On the Caller ID I saw that it was Provider Recovery. I googled them and found out they are one of the worst collection agencies of all time. To feel better, I wrote a letter requesting that they not call me at work, which I will take to the post office at lunch and mail certifed with return receipt requested. At least that makes me feel like I am doing something.

Then my payday loan is due today, and I can never seem to get out of that hole. I just don’t ever seem to be able to pay back that $300.More money out the door and not to the big black hole I created.

Good news, the debt settlement company said that I didn’t get a judgement; it was only a summons. It stated that a debt arbritration judge had affirmed my debt. So it isn’t as bad as a judgement, yet, and the debt settlement company got right back to me when I called, so that is better .(Thanks Ben G. for being so clear, your email made me contact them, and also the woman who told me to take some action before it got worst, sorry, forgot your name)

I guess I am putting y bad financial habits out there like a public confessions – because although I work two jobs and my son has that illness and the credit card companies gouge us and collection agencies can be abusive – the fault for this situation is mine and I have to start taking control of it.

I think most of us have paid a stupid tax. Or we wouldn’t be in this group. 😉 The key is to recognize where your problems are then begin to remedy them. Do you use the envelope system? It sounds like that might be helpful to you. It’s made an amazing difference in my financial life..and in my marriage!

It is your responsibility to response to the summons not the debt settlement company’s and without seeing the papers I don’t know what the legal value of the arbitrator’s ruling is. In any case you need to ask whomever sent the summons to reopen the case and try and work out an agreement with them.

I want to know if anyone has ideas for me for the next step. I offered to settle with a creditor for 10% on the dollar in writing and I was orally told that they counter-offered at 82%. They also “warned” me that the debt would be going to a collection agency soon. Any suggestions on what to do next?

They can go to collections all they want. It still isn’t going to change the situation if you don’t have the money. That always kills me when your trying to work something out and they still threaten you in some way. Don’t let it get to you. How much do you owe and can you pay it off soon? What about your percentage rate?

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