they want too much money

[fredrichmond]

I recently contacted a debt collection agency to set up a payment plan after giving all my information and three references the account manager said they had three payment options all of which involved " a goodwill downpayment" and monthly payments that are too high for me. The agency is contracted by the original debt holder is there anything I can do?

 

[Michael Wechsler]

What are you thinking you can do? You bought something you couldn't afford. Someone is out the money. If you have assets, sell them to pay off your debt. If you really have piling debt that makes it clear you may need to file for bankruptcy, you may need to consider that option. You can tell that to the creditor and give them the option of receiving something and some payment plan or dealing with it in a bankruptcy proceeding. Good luck to you.