How can you get an accounting of a debt that is in collections?

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How can you get an accounting of a debt that is in collections?

I borrowed money on line from several pay day companies 2 years ago; I’m now over my head. The company has no paper trail. How can I find out exactly what I owe? I have lost track of the amounts and I now get calls saying I need to pay $1000 by the end of the day and another $1000 by the end of the month. I am threatened with them coming on my job. What is the best thing to do?

Asked on August 19, 2010 under Bankruptcy Law, Florida

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 11 years ago | Contributor

You can refuse to pay if you don't believe you owe the money--you can tell them that you won't even consider paying unless they can prove the debt. If that doesn't motivate them to share paperwork (or if they do, but you disagree with the debt), then you can still refuse to pay and force them to sue you. In the lawsuit, there are mechanisms (called "discovery"; such as document requests) which you or your attorney can use to get this information.

You may also wish to consider consulting with a bankruptcy attorney. Depending on your situation, if you are over your head on unsecured debts (debt that doesn't have property as collateral), declaring bankrutpcy may be a viable option. Good luck.


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