can a credit agency take everything you have away?
i work and hardly make enough to survive on i have a collection agency after me can they make me live on the street? i owe 2000
Public Comments
- Find out their address and write them a cease and desist letter. That way they can only contact you through the mail. They can however, find out where you work and try to garnish your wages. I would try to work out a small payment plan to avoid that.
- Depends on the level of debt. No they can't. They can't siphon your funds in your bank or anything. Its more or less an agreement between you and them to make payments or make them in full. I hear that after 7 years, they stop calling and can no longer collect. Of course you can declare bankrupsy, and all your debts are removed. However, that kills your credit for 7 years. Don't get too far in debt because you wont be able to finance a car, house, etc etc. Oh and just so you know, you can usually negotiate your debt down if you do deal with the credit angency. "Take it or leave it" ...usually they take it and you can settle for less of the amount than what you owe.
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