Legal Question in Credit and Debt Law in Illinois
Sending a bill to collections
I owe about $1000 and can only pay about $50 a month. They told me that would not be acceptable. If I send them a $50 check with my statement every month and they cash my check can they send my account to collections?
1 Answer from Attorneys
Re: Sending a bill to collections
In most cases a creditor will only hold on to an account for a period of time before they either send it to collections or sell the debt to some other company. This happens even if you are making payments. That being said I would make sure that you keep a record of all payments which you made so that you have proof of payment if the creditor sells the account or puts it into collections. However, in situations such as yours the creditor will usually keep the account given the fact that you are paying and the balance is relatively small.
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