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I got a past due credit card. Help.
EliteLamer
__BANNED USERS regular
__BANNED USERS regular
I moved and forgot to change my billing address so I didn't get the statement. I was just about to pay it now but then I get to the bottom and it says this.
What do I do?
I don't want my credit destroyed because I payed them and they put me in this program.
If you check this box, you are agreeing to the Terms and Conditions of the Collections Online Payment Solutions Program
What do I do?
I don't want my credit destroyed because I payed them and they put me in this program.
SEGA
EliteLamer on
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Posts
The key is to make it obvious to them that you had no intention of not paying and that you're a good customer. It won't always work, but it'll definitely be the best chance in my opinion of (A) finding out what's really happening (i.e. whether you've already been forwarded to collections or not etc...) and (B) attempting to make sure it doesn't show up or gets cleared from your credit history. Keep us posted!
And if you don't know what a box means, don't check it.
If you've reached the point where they have essentially sold your debt to a collection agency, then you must pay the collection agency. The person from the credit card company should be able to tell you who the collection agency is. You can verify this further by contacting the collection agency directly. Do not give anyone any money or any of your personal information until you have verified they are legitimate.
Not having done any research, or even a basic Google search, I would assume that "Collections Online Payment Solutions Program" is just the payment service of the collection agency. Frankly, if it's gone to a collection agency, your credit is already screwed. At this point you need to pay the debt so that you can start the "healing" process. The longer that debt is outstanding, the worse your credit gets and the longer it takes to get better.
Also, changing addresses was a bad excuse back when the internet wasn't around, and it's an even worse excuse now. Set up automatic payment, get your monthly statements via email, and check/pay your accounts online.
Using a service like www.mint.com will really help you go a long way towards financial literacy and realistic maintenance of your money.
Edit Add: Most credit companies don't report late payments unless you are a repeat offender or you're more than 60 days past your deadline. If you just pay the bill, you're fine. Do not check that box.
But, then again, call the credit card company and tell them you moved, need to change your address, and as such never got your statement, and pay right away. If you have a good history with them, they'll probably forgive it, as the fewer delinquencies they have on their books, the better it is for them. This isn't an uncommon occurrence.
Yeah, you'll be alright. Just trust me here, you're not going to be turned down for a car loan because of that one time you were late on a payment back in 2009.
Mint.com is legit. You can read more about their privacy/use practices on the website, but if you're looking for a personal endorsement, I've been using the service for about 6 months, and I love it. Several of my friends and co-workers use it as well.
Yeah, loads of people use mint.com
The only thing that sucks about it is it isn't available for us non-US residents
EL: Are you sure this 'Collections Online Payment Solutions Program' thing isn't just their automated minimum payment system? All the credit cards I have, I sign up for the automated minimum payment option which basically takes £5 by direct debit if I miss a bill payment. It basically ensures that I only end up paying interest and don't also get hit by a late-payment fee. Handy if you're on holiday during the payment time or if you just forget or whatever. If the bill is less than £5, it means I don't even have to lift a finger, automated payment takes care of the total bill for me.
So basically, are they saying, 'look, you've had problems making the minimum payment on time because you forgot or lost the bill or whatever, so we suggest you sign up for this scheme so at least you will have the minimum payment covered in the future'?
It would seem pretty weird for them to set the debt collection dogs on you after one missed bill.