Question about collection agencies?

I just recently went through a divorce and being a single mother, I didn't have the finances to pay on the credit card debt my ex husband left me with. So being that I didn't pay them , they ended up in the collectors hands. What i'm wondering is when your credit card debt goes into the collectors hands, do they still charge interest if you attempt to start paying on them? I would really like to pay on them but i'm afraid if I pay too little that they might tack the interest on them. Is that possible or will the amount just begin to lower as I pay them?

I don't know your full financial situation...but I've heard your story many times.

What you can do is contact the agency and negotiate a settlement. Ask for:

1) a payment plan that will fit into your budget
2) a total freeze on interest and late fees
3) an agreement that once paid off, they will delete the negative information from your credit report.

In the early states of collections they may not be willing to accept a discount on the balance, but generally you can get them to lower it by at least 20%. Ask for that also.

Yes, they do and will. I don't know if you can do this, but if you don't pay them for five or so years they will eventually send you "offers" to pay your debt off insanely cheap. For example, if you owe them $1500.00 and wait all that time, it will pass from one collection agency to another, and finally, you WILL get a letter or "Settlement Offer" for $400.00 to $500.00. Let me let you in on a secret though, go to www.suijuirs.net and study and understand the Verification of Debt process. It will open your eyes!!!! and do more studying to understand why all things in the uS are already pre-paid for you, including your home, car, etc., etc.

Call them and offer a settlement. You can threaten them with "bankruptcy", and that will ocassionally get their attention. They will try "hardball" at first, but remind them that something is better than nothing. They only make money if you pay. Keep that in mind. The other option is debt consolidation company, and they hate those with a passion. I do have a question: under your divorce settlement isn't the ex responsible for part of the debt?

I used "thecreditrepairmanual.com" to correct our credit history.